Game Types Bonuses Slots More
Online Casinos Poker Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Live Dealers
Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions Edit Preferences Search

Wynn's shares tumble

5 Oct 2007

NEW YORK -- As reported by the New York Post: "Shares in his Wynn Resorts tumbled nearly 10 percent after a casino analyst at Morgan Stanley said Wynn had wildly overestimated the action he expected at his extravagant new Wynn Macau casino.

"Wynn and a rival operator in Macau, the Las Vegas Sands Corp., both predicted that gaming revenue at their new Macau casinos would jump by 75 percent in September - but in realty they came in at a 'disappointing' 55 percent, said analyst Celeste Mellet Brown.

"She said the Macau casinos appeared to be just shifting revenue from one place to another instead of creating a new supply of gamblers.

"...Wynn Resorts lost $16.43 a share to $149.40 - the worst daily loss in five years..."

 
About Us | Advertising | Publications | Land Casinos