Wynn Resorts slides, levels to watch Union Gaming Research downgraded the Macau gaming sector and Wells Fargo said that June Macau gaming revenues were trending below estimates. That has hit the stock along with its peers such as Las Vegas Sands (LVS). At the current price of $198.57, the stock is down over 3%. Share price has been in a downtrend since hitting a peak of price in March. Next support based on current price is at $193.87.
News For WYNN From The Last 14 Days
Check below for free stories on WYNN the last two weeks.
Macau estimates lowered at Morgan Stanle Morgan Stanley lowered Macau 2014 growth estimates to 6% from 12% and 2015 to 11% from 12.5% due to expectations for VIP trends to continue to deteriorate given the China macro impact and notes slowing mass growth rates.
Wynn unit to spend $20M on Macau casinos design work, Macau Business says Wynn Resorts' Wynn Macau unit is slated to spend $20.13M this year on design work for its casinos, Macau Business reports. This figure is double the amount the company originally planned. Reference Link