Wynn's properties performing well in the improving Macau gaming market.
Narrow-moat Wynn’s Macau segment (69% of total EBITDA) outperformed the industry’s gross gaming revenue, or GGR for the fifth straight quarter aided by the firm’s strong VIP play and performance at its legacy Peninsula casino (70% of total Macau EBITDA), mitigated by some softer results at its newer Palace resort. As a result of Wynn’s second-quarter results, and also industry growth that has been tracking toward 10% for this year versus our 6% forecast, we plan to lift our 2017 Macau sales grow...Wynn Resorts is a holding company. Through its subsidiaries, the company is a designer, developer, and operator of resorts featuring hotel rooms, retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming. Through its subsidiary, Wynn Macau, Limited, the company operates two integrated resorts in the Macau Special Administrative Region of the People's Republic of China, Wynn Palace and Wynn Macau. In Las Vegas, NV, the company also operates and, with the exception of certain retail space, own Wynn Las Vegas and Encore Boston Harbor, an integrated resort in Everett, MA, adjacent to Boston.
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