Gaming revenue falls 33% on China slowdown, anti-corruption campaign

As a result, junket operators have struggled to bring in a steady flow of VIP gamblers from the Mainland and Macau’s casinos have faced a significant decline in gaming revenue.

A number of equities research analysts have weighed in on WYNN shares. The total amount of the transaction was worth $1,049,900, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. This short term price target has been shared by 10 analysts. They now have a $75.24 price target on the stock. They now have a “neutral” rating on the stock. The Company refers to the integrated Wynn Las Vegas and Encore at Wynn Las Vegas resorts as Wynn Las Vegas, Encore or as its Las Vegas Operations.

Wynn Resorts Ltd. rose the most in more than six years, leading casino stocks higher following a report that the Chinese government plans steps to revive the flagging gambling industry in Macau, where betting has been in freefall. “The mass market is holding up much better”. Finally, Argus reissued a “hold” rating on shares of Wynn Resorts, Limited in a research note on Thursday, September 3rd.

8/10/2015 – Wynn Resorts, Limited was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. The company has a market cap of $6.43 billion and a PE ratio of 20.62. The 50-day moving average is $76.47 and the 200 day moving average is recorded at $103.05. The casino operator reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by $0.22. Wynn Resorts, Limited’s quarterly revenue was down 26.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.11 earnings per share.

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which incorporate amenities and accommodations, including fine dining, premium retail offerings, distinguishing entertainment and convention facilities. In the Macau Special Administrative Region of the People’s Republic of China (Macau) the Company owns and operates Wynn Macau, which includes Encore at Wynn Macau.

The depressing reality for the three Las Vegas giants is that their resort ventures were all started during a period when the Macau gaming economy looked like a lot of blue skies and sunshine.

Dore, a junket company operating at a Wynn Macau casino, said September 17 one of its employees is suspected of stealing HK$100 million (RM57.46 million) from the company. The Company’s Macau Operations feature approximately 1,008 hotel rooms and suites, 495 table games, 835 slot machines.