Macau Slowdown Weighs On Wynn

New competition and a deceleration of market growth in Macau weighed on Wynn Resorts in the second quarter, as the company reported a decline in earnings from its casinos in both the Chinese territory and in Las Vegas.

The Nevada-based casino giant on Tuesday reported adjusted EBITDA for the April-June period of $384.1m, down from $447m in 2011 and below Wall Street estimates of around $394m.

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