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Wynn Hits Jackpot as Macau Revenue Soars
By:
Stocks To Watch
Posted on March 02, 2012 at 11:45 AM EST
Gamers flocked to Macau in February, pushing revenue up by 22% in the Chinese gambling haven in the month, and sending shares of some casino operators higher in early trading. Wynn Resorts (WYNN) rose 7% in early trading on the Macua news and an announcement that two of its subsidiaries gained approval to build a [...]
Gamers flocked to Macau in February, pushing revenue up by 22% in the Chinese gambling haven in the month, and sending shares of some casino operators higher in early trading. Wynn Resorts (WYNN) rose 7% in early trading on the Macua news and an announcement that two of its subsidiaries gained approval to build a 51-acre property in the Cotai area of Macau. Melco Crown Entertainment (MPEL), another Macau casino player, rose 1.5%. But MGM Resorts International (MGM) and Las Vegas Sands (LVS), which also have Macau interests, were trading flat to down.
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