Slipping Revenues In Macau - How Will That Impact Wynn Resorts?
- As VIP gaming in Macau decreases, Wynn Resorts has recorded a 10% decline in its share prices over the past one month.
- Share price has declined because VIP gaming is declining in Macau. Reasons for this are increases in sports betting, anti-corruption crackdowns by the government and visa transit restrictions.
- Development for another casino in Cotai, worth $4 billion, has already begun and this is expected to increase the resort’s market share.
- The expected rise in the country's high net worth individuals who have a combined total of $4.3 trillion in wealth, can also prove beneficial for the VIP gaming industry.
- Deutsche Bank has maintained a ‘buy’ rating for the stock, as well.