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Tag Archives: Wynn Macau

China – Wynn Macau set to bloom post-COVID

Analyst Sanford C. Bernstein is predicting that Wynn Macau’s mix of VIP and mass gaming, along with its expansion at Wynn Palace in Cotai, should see it explode out of the COVID-19 slowdown. It has highlighted that Wynn Macau’s strength and diversity in operating efficiency should help its rebound. Sanford Bernstein analysts Vitaly Umansky, Tianjiao…

China – Sands, MGM and Wynn to get ‘level playing field’ in Macau’s re-licensing process

Macau’s three US casino licence holders can expect a ‘level playing field’ when it comes to the relicensing process in 2022, according to ratings agency Fitch. Fitch believes that Sands China, MGM China and Wynn Macau will be given pragmatic approach from new Chief Executive, Ho Iat Seng but also believes there is still a…

China – Fireworks as Macau government responds to Wynn’s table cap criticism

The government in Macau has rounded on Steve Wynn after he publically lamented the government’s policies when it came to issuing table game allocations for new casinos. Mr. Wynn, who has long been a keen advocate in how Macau’s leaders does business, is dismayed at how casinos are having to make employment decisions and investment…

China – Wynn rocked by inside junket job

Hong Kong-based investment bank Daiwa Capital Markets has informed that up to $US258m has been stolen from a VIP room operator in inside Wynn Macau. Wynn Macau’s shares fell by nine per cent on the news casino. Daiwa said: “Staff at Dore Holdings, a VIP room operator in Macau, have allegedly fled with between HKD200m…

China-Wynn Macau down for first time since 2009

Revenue dropped at Wynn Macau by nearly US$70m as high-rollers from China tightened their spending due to a slowing Chinese economy. Wynn reported a 7.1 per cent drop in second-quarter revenue from $976.5m to $907.6m making the company’s results miss analysts’ estimates. It is the first time the company has posted a decline since 2009. Grant…

China- Wynn wins approval for Cotai

Gaming developer Steve Wynn’s Chinese entity Wynn Macau has received approval for a 51-acre casino resort in Cotai, to be developed on land behind City of Dreams. The project, the cost of which has been pitched between US$3.5 to $4bn, will include a 2,000-room hotel and a 1,750-seat theatre. Wynn said: “We will remain consistent…