A profound and sustained weakening of Macau’s VIP market has pushed Wynn Resorts into the red and punished market share in the third quarter, with the company’s Macau operations suffering a 20 percent slide in casino revenue.
Wynn Resorts’ key gaming metrics were dramatically down year-on-year in Macau and moderately lower in Las Vegas, according to a Wednesday filing with the US Securities and Exchange Commission.
Only Macau’s growing mass market and revenue from the recently opened Encore Boston Harbor casino-resort provided immediate solace for Wynn on the gaming side.
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