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WYNMY Wynn Macau Limited (PK)

9.51
0.144 (1.54%)
31 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Wynn Macau Limited (PK) USOTC:WYNMY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.144 1.54% 9.51 9.30 9.66 9.51 9.41 9.41 8,533 21:01:36

Wynn Resorts Shares Climb5% After Trump Says He's Meeting With Xi

18/06/2019 9:19pm

Dow Jones News


Wynn Macau (PK) (USOTC:WYNMY)
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From Jun 2019 to Jun 2024

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By Dave Sebastian

 

Wynn Resorts Ltd. (WYNN) shares rose 5.6% on Tuesday to $122.20 after President Trump said he'll meet with Chinese President Xi Jinping at the G20 summit in Osaka.

Wynn's share price has been tracking developments in the U.S.-China trade talks, as Wynn's presence in the Chinese gaming enclave of Macau depends on its ability to renew its license after June 2022, said Dan Wasiolek, a senior equity analyst at Morningstar.

The prospect of Wynn not getting its Macau license renewed would be "disastrous" for the resort-and-casino company, Mr. Wasiolek said, as Wynn gets most of its earnings before interest, taxes, depreciation and amortization from its Macau operations.

"It might just be that there was so much negative news that any positive mention on the tariff-negotiation front could benefit a name like this," Mr. Wasiolek said.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

June 18, 2019 16:04 ET (20:04 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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