Wynn Resorts a Cash Cow in Macau

Wynn Resorts, a worldwide developer of casino gambling vacation resorts, is seeing increased profits at their new gaming resort in Macau, China. According to a new market report released by Barrons, the new casino in Macau has snagged over 12% of total gambling market share after less than 2 months of business.

Macau is a tiny island off the southeastern coast of China, now famous for its head-to-head battle to become the gambling capital of the world with Las Vegas. Despite being only 1/6 the total size of Vegas, Macau has promised to become the gambling capital of the world.

In an interview with Barrons financial news magazine, Steve Wynn, the CEO of Wynn Gaming, said "Macau is at the center of a huge avalanche of revenue."

Some capital investment firms, namely T. Rowe Price, Baron Capital Management, Marsico Capital Management and Fidelity Investments, are expecting increased cash flow for Wynn as they continue to up the ante with their new Macau cash cow.

Wynn Resorts is now trading over $82 per share on the NASDAQ, up 20% this month alone. This time last year, the shares of Wynn were around $50 dollars. Some have said that Steve Wynn is one of the brightest entrepreneurs of this generation. As more companies and competition head to Macau, global investors will find out whether or not he can continue to dominate.

November 13, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!