Wynn earnings drop 38.8pc as Beijing’s travel restrictions bite
China's new limits on mainlander visits to Macau have contributed to a drop in profits at the Wynn Macau, a major resort and casino. Preliminary results released by the company show a drop of at least 38.8% in the third quarter from the previous three months. Wynn Resorts estimated operating income at its Macau property at US$57-63 million, down 38.8-44.6% from an income level of US$102.94 million in the previous quarter. However, following a major casino expansion, profits are up from US$39.22 million a year ago. In June, Beijing reduced the ease and frequency with which mainland passport holders can travel to Macau.
Source: South China Morning Post
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