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Wynn Continues Its Rise, With Macau in Focus

Michael Lewis
October 26, 2013

One quarter ago, Wynn Resorts (NASDAQ: WYNN) was buoyed by its domestic operations in Las Vegas as the Chinese market slipped more than expected. Since then, though, the story has changed back in favor of the Chinese territory, Macau. The fall was a big month for the world's biggest gaming town, and Wynn was right there to benefit every step of the way. The company released earnings on Thursday to the market's delight -- a big-time beat on the bottom line and a slightly less yet still impressive showing on the top line. Macau and its Cotai Strip are set to continue their phenomenal growth as the Chinese middle class expands and the region takes on a more global presence in the tourism industry. With a bit of luck, Wynn should remain right on top.

Earnings recap
Las Vegas revenue for Wynn Resorts may have only climbed 1% to $392.5 million, but the company saw a near 10% rise in sales from Macau, contributing to an overall gain of 7.1% -- $1.39 billion. The Street had bee