WYNN\'S A LOSER - China
 

"Macau casinos appeared to be just shifting revenue from one place to another instead of creating a new supply of gamblers"

"It wiped out about $405 million in market value from the founder's personal holdings in the casino group."

http://www.nypost.com/seven/10042007...ns_a_loser.htm

Re: WYNN\'S A LOSER - China
 

[ QUOTE ]
"Macau casinos appeared to be just shifting revenue from one place to another instead of creating a new supply of gamblers"

"It wiped out about $405 million in market value from the founder's personal holdings in the casino group."

http://www.nypost.com/seven/10042007...ns_a_loser.htm

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Just two weeks ago, Wynn's stake hit a record value of $3.4 billion, doubling in just one year due largely to his huge new Wynn Macau in China's territory. Macau has surpassed Las Vegas as the world's biggest gaming capital.



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Oh no! Now he's only up 1.3 billion for the year!


What a loser.

Re: WYNN\'S A LOSER - China
 

[ QUOTE ]
"Macau casinos appeared to be just shifting revenue from one place to another instead of creating a new supply of gamblers"

"It wiped out about $405 million in market value from the founder's personal holdings in the casino group."

http://www.nypost.com/seven/10042007...ns_a_loser.htm

[/ QUOTE ]

Leave it to the Post to write this BS. Wynn's stock has skyrocketed in the past few weeks. LOLstockpricevariance

Re: WYNN\'S A LOSER - China
 

You're right - such BS. First of all part of the headline says "China Red Ink: $405M" That's not income, that's just 1 day in a daily market value fluctuation that has rocketed up over the past few months. Misleading if you just glance at it.

Also they mention a "disappointing" 55% revenue growth. (their quotes, but I'd do the same). Yes, below projections but still a growth rate any company would kill for.

Finally, that's just gaming revenue. Macau is just scratching the surface when it comes to generating non-gaming revenue like Vegas does - dining, shopping, entertainment, etc.

Re: WYNN\'S A LOSER - China
 

asian gamblers dont come for shopping and entertainment.

Re: WYNN\'S A LOSER - China
 

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asian gamblers dont come for shopping and entertainment.

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You're right, they don't go there for shopping and entertainment...yet. The Vegas model has never really been an option until things opened up to foreign companies. It will develop along with the convention business over time. (Speaking of Macau in general, not just Wynn)

Re: WYNN\'S A LOSER - China
 

If it really is just shifting money from one casino to another and not attracting the number of new gamblers they had predicted then it will be in trouble because of the financing arrangements. If they don't hit their expected returns then they will have trouble paying back the interest on the notes. The investors will not want to use other means to pay this back.

Re: WYNN\'S A LOSER - China
 

[ QUOTE ]
If it really is just shifting money from one casino to another and not attracting the number of new gamblers they had predicted then it will be in trouble because of the financing arrangements. If they don't hit their expected returns then they will have trouble paying back the interest on the notes. The investors will not want to use other means to pay this back.

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So investors would rather get no money than money from a different casino? Investors are weird!

Re: WYNN\'S A LOSER - China
 

It makes me vomit that I bought WYNN at 35 and thought I was doing good by selling at 70.

Re: WYNN\'S A LOSER - China
 

[ QUOTE ]
It makes me vomit that I bought WYNN at 35 and thought I was doing good by selling at 70.

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I almost bought Wynn during the summer after hearing countless stories in the pooker room of people droping six figures in blackjack.. Bob Safai was one of these story tellers. Would have made a quickl 20-30% profit. DOH!