should be less severe<\/a> than what was seen in the previous five months, and that the fair start to this month for concessionaires there is being propelled by the premium mass and VIP segments.<\/p>\nThere’s also evidence that visits to the gaming center are starting to pick up, albeit modestly. Last weekend, arrivals totaled 13,000 and 9,700, respectively on Saturday and Sunday, compared with 10,500 and 9,500 during the last weekend of August.<\/strong><\/p>\nWaiting on More<\/h2>\n
For Macau operators, including Wynn, the near-term outlook boils down to a waiting game. That is, waiting for the impact of individual visit scheme (IVS) visa reissuance to take hold.<\/p>\n
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Guangdong, the mainland province closest to the gaming hub, is just two weeks into granting IVS permits again, and it’s taking a week to 10 days to get those passes into the hands of tourists. In other words, it’s going to take some time for Wynn and its rivals to see the benefits of looser travel policy on top and bottom lines.<\/p>\n<\/div>\n
Assuming no flare-ups of coronavirus cases, the rest of China will resume issuing IVS visas on Sept. 23, meaning it will be October before Wynn and its counterparts get a lift from that policy.<\/strong><\/p>\nFor Macau operators, the tenth month of the year will be pivotal, because the first week includes Golden Week<\/a>. The festival will have a profound effect on concessionaires’ fourth-quarter rebound aspirations.<\/p>\n","protected":false},"excerpt":{"rendered":"Shares of Wynn Resorts (NASDAQ:WYNN) are lower by four percent in midday trading Tuesday. That’s after Goldman Sachs lowered its rating on the gaming company to \u201cneutral\u201d from \u201cbuy,\u201d while removing the stock from its prestigious Conviction Buy List. Predictably, Goldman cites Macau as one of the primary reasons for its downgrade of Wynn. The […]<\/p>\n","protected":false},"author":46,"featured_media":147887,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Wynn Whimpers Following Goldman Downgrade, Bank Sees 'Limited Upside' - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n