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Popularity of Gambling in Macau Gives Wynn's an Earnings Boost

Wynn Resorts, Limited (NASDAQ:WYNN) reported solid third quarter earnings fueled in large part by revenue growth in Macau. The hotel and resorts chain earned profits of $1.84 per share, which beat estimates by 18 cents. Revenue climbed to $1.39 billion compared to the same period last of only $1.29 billion. Gambling operations in Macau accounted for a huge percent of the revenue for the quarter. Revenues from Macau soared to $997.6 million. Macau is the only place in mainland China where gambling is allowed.

Vegas revenues dwarfs in comparison to Macau. The Las Vegas operations of Wynn Resorts only reported revenues of $392.5 million. It seems like people in China have more disposable income. Wynn Resorts should be changed to Asia Wynn Resorts!