International edition
June 23, 2021

On Friday, Wynn closed the day up 5.86%, or us$ 3.13

Macau gambling revenue leads to analyst boosts for Wynn Resorts

(Macau).- The improved gaming situation in Macau has led to some higher analyst expectations for US-based casino company stocks. That, in turn, has led to a strong finish to the past week on the Stock Exchange for several gaming operators.

W

ynn Resorts was one of the companies that was helped on the market because of revenue at Macau casinos. On Friday, Wynn closed the day up 5.86%, or us$ 3.13. The stock closed at us$ 56.55.

Analysts adjusted their price targets for Wynn and also Las Vegas Sands. Sands stock jumped almost 10 % to close the past week, finishing at us$ 15.51. It has been a steady increase in price for Sands over the month of August and into the first week of September.

"The actions we have taken in recent weeks, together with the right-sizing of our cost structure and our ongoing efforts to implement efficiencies across our operations, have clearly helped strengthen our balance sheet," said President of Las Vegas Sands, Michael lewis, to The Wall Street Journal.

One of those actions occured this week when Sands agreed on us$ 600 million worth of short term financing from Goldman Sachs. The funding should help Sands not only balance their budget, but also will help finish several projects that re under way.

MGM Mirage, Melco Crown Entertainment, Pinnacle Entertainment and Ameristar Casinos all experienced a gain in stock price on Friday. MGM Mirage led the way with an increase of 5.54 %, closing Friday at us$ 8.76.

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