The Telegraph – Wynn Macau Ltd. reported first-quarter profit that beat analyst estimates as billionaire Steve Wynn’s casino drew more premium mass-market customers in the world’s largest gambling hub. The stock climbed.
The company rose 4.1 percent to HK$31.80 (£2.436), the biggest gain since April 1, at the close in Hong Kong trading. The city’s benchmark Hang Seng Index rose 0.6 percent.
Wynn Macau, which is building the $4 billion Wynn Palace resort to add to its sole casino in the city, has been reallocating gambling tables to serve the so-called premium mass gamblers who bet in cash. They provide higher margins than the high rollers because they do not require junket operators, who charge casino companies a commission to bring in VIP customers and arrange credits for their gambling trips.
