Wynn Resorts is tumbling Monday after Chinese casino hub Macau underperformed in June.
Wynn Resorts is trading down sharply, lower by 8.08%, Monday following news that Macau gaming revenue growth underperformed expectations for the month of June.
Other casino stocks are getting hit as well. Here’s the scoreboard:
Analysts were expecting Macau’s gaming revenue to grow 18% year-over-year for the month, but it increased just 12.5% YoY. Macau is China’s only legal casino hub.
Earlier this year, Wynn Resorts founder Steve Wynn resigned as CEO and chairman after allegations of sexual misconduct. He has denied those allegations.
Wynn Resorts is down 6.5% this year.
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