HK-listed Wynn Macau slips to more than 2-week low on 3Q results miss

Sands China

05/11/2024 05:26

** Casino operator Wynn Macau  1128.HK  falls 4% to HK$5.98,
its lowest since Oct. 18
    ** Stock set for biggest one-day pct decline since Oct. 13
    ** Wynn Macau's parent Wynn Resorts  WYNN.O  posts Q3 profit
and rev below Street expectations on sluggish casino business in
Las Vegas 
    ** WYNN's total Q3 rev at $1.69 bln vs analysts' avg
estimate of $1.73 bln - LSEG
    ** Of which, rev from Wynn Macau's ops up 6.3% to $871.7 mln
    ** Citi maintains "buy" on Wynn Macau, but trims TP to
HK$8.30 from HK$8.60, saying Q3 results came in as a slight miss
and non-gaming rev, particularly retail, was underwhelming
    ** Rivals Sands China  1928.HK  and MGM China  2282.HK  shed
0.5% and 1.6%, respectively
    ** Galaxy Entertainment  0027.HK  rises 1.3%, SJM  0880.HK 
adds 1.1% and Melco International  0200.HK  climbs 0.2%
    ** Wynn Macau down 3.1% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))