Steve Wynn Sending Casino Veteran To Head Macau Site

Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

Wynn Signs Up Vegas Icon Binion As a Macau Draw

• Summary: Casino magnate Steve Wynn is sending Jack Binion, a 69-year old casino management veteran from Las Vegas, to head up Wynn Resorts' new operation in the Chinese gambling center of Macau. Wynn Macau, the second casino run by a U.S. company in the region after Las Vegas Sands', is scheduled to open Sept. 5.
• Comment on related stocks/ETFs: Enzio von Pfeil says Wynn and Sands will be big winners in Macau, but Sands has sold off recently after announcing they want to put another $8 billion into their Macau operation. David Riedel of Riedel Research Group thinks there may be oversupply in Macau.