Wynn Macauhas announced its first decline in quarterly revenue since 2009, blaming slower Chinese economic growth and tougher competition in the Asian gaming hub.
The Hong Kong-listed subsidiary of Las Vegas-based Wynn Resorts said it posted revenue of $907m in the quarter until the end of June, a 7.1 per cent drop from a year ago.
Steve Wynn, chairman of Wynn Macau, who recently revealed plans to build a new $4bn casino in Macau, said he was not worried about the decline and that he remained confident about China’s long-term prospects.
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