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Wynn Resorts (WYNN) Stock Surges on April Macau Revenue

NEW YORK (TheStreet) -- Wynn Resorts (WYNN - Get Report) stock is rising by 6.29% to $93.85 in late-morning trading on Monday, as Macau casino revenue decreased by less than analysts anticipated in April.

Gaming revenue declined by 9.5% to 17.3 billion patacas ($2.2 billion) last month, marking a 23rd straight month of declines. This is nonetheless a smaller drop than the 13.5% decrease forecast by analysts and the 16.3% decline in March, according to Bloomberg.

Macau casinos have been pressured for years as China's crackdown on corruption and the country's slowing economy have kept VIPs away from the gambling hub.

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