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Wynn Resorts (WYNN) Stock Higher on Upbeat Macau Gaming Revenue

NEW YORK (TheStreet) -- Shares of Wynn Resorts (WYNN) are up 5.43% to $94.62 on heavy trading volume late Monday afternoon as the first 10 days of July indicate a positive trend for revenue in China's gambling hub Macau.

"According to our industry sources, based on gaming play for the first 10 days of July, gross gaming revenues in Macau for the month is estimated to be tracking up approximately 8.2% year-over-year," David Katz, an analyst at Telsey Advisory, wrote in a note cited by

The results are "well ahead of the previous trends" that showed an 11% decline...