Shares of leading developer, owner and operator of casino resorts, Wynn Resorts Ltd. WYNN rallied to a 52-week high of $109.50 on Sep 15. However, the company ended the day’s trading a trifle lower at $108.68. Meanwhile, year to date, the stock has returned over 57%.
Notably, gross gaming revenues (GGR) for the month of August rose 1.1% on a yearly basis to approximately $2.4 billion or 18.8 billion patacas, per the Macau Gaming Inspection and Coordination Bureau.
After witnessing 26 months of consecutive decline, the rise in August marked a revival for Macau, which led to a rally in the share price of casino companies like Wynn Resorts, Melco Crown Entertainment Limited MPEL and Las Vegas Sands Corp. LVS.