Investors look ahead to earnings from gaming companies, hoping for good news from the sector, the Chinese economy and Macau.» Read More
HONG KONG, Feb 1- Gambling revenues for the Chinese territory of Macau dropped 21.4 percent in January, ahead of a Lunar New Year week-long holiday which is expected to boost the number of visitors to the world's largest casino hub. Macau, which relies on the casinos for revenue, has been battered by a two-year-old anti-corruption campaign and slowing growth in...
The "Fast Money" traders have their eye on some bets based on the idea that Asian gaming hub Macau may be stabilizing.
HONG KONG, Jan 1- Gambling revenue in the Chinese territory of Macau fell for the second year in a row in 2015 as a prolonged anti-corruption campaign and slowing economic growth battered the world's largest casino hub. Las Vegas magnates Steve Wynn and Sheldon Adelson are set to open resorts in 2016 catering to China's burgeoning middle class, with attractions...
The globalization of the past 25 years has been kind to both companies, as cheap labor from China became integrated in the global economy, creating, among many phenomena, great new wealth in China and a buyer's market for labor in the United States. Now we may be seeing the early stages of a partial reversal of some of those trends, as China seeks a new economic model...
Oct 16- Big fish Chinese gamblers afraid of a corruption crackdown and poorly paid Walmart workers in the United States might seem to have little in common. But in the global economy, they are in some ways two sides of the same coin, and to understand that is to understand more than why the two disparate groups were blamed for horrendous earnings at two very...
As Wynn Resorts continues to struggle in Macau, CEO Steve Wynn is frustrated. It's different than his opinion a year ago, when he said, "The regulatory burden in China is infinitesimal compared to the crap that we get in America."
Steve Wynn's statement on the Chinese government have grown more cautious over the last year. In May, he sat down with CNBC's Eunice Yoon and said, "It's not a good idea to make businesses insecure."
Buyer still at large
CNBC's Eunice Yoon sits down with Steve Wynn of Wynn Resorts, to discuss the state of Macau, growth in Las Vegas, and the public dispute over the removal of his ex-wife from the board.
After a long proxy fight, the board has prevailed and Elaine Wynn no longer has a seat on the board, reports CNBC's Jane Wells. And the FMHR traders weigh in on how to play the stock.
The financial community—including Steve Schwarzman, Ken Griffin and Steve Cohen—will once again figure prominently at Milken.
The owner of the most expensive apartment ever in New York City owes just 0.017 percent in property taxes thanks to a legal loophole.
Drexel Burnham Lambert, the investment bank famous for the high-yield or "junk" bonds it pioneered, filed for bankruptcy on Feb. 13, 1990.
A crackdown in corruption in China that has hushed the once frenzied Macau casino business took its toll on Wynn Resorts in the fourth quarter.
Wynn Resorts is under investigation for potential money-laundering law violations, according to a new report from Dow Jones.
Steve Cohen, whose firm SAC Capital settled criminal insider charges, bought a sculpture at auction last week for $101 million, according to people familiar with the transaction.
Voters in Massachusetts decide Tuesday whether to repeal a law allowing casinos there, after companies like Wynn and MGM have already invested millions. Jane Wells takes a look at potential winners and losers.
Wynn Resorts Chairman and CEO Steve Wynn tells Jane Wells an in exclusive interview that as much of the Vegas strip which had been abandoned is finally being developed, Carl Icahn's Fountainbleau remains empty.
Wynn Resorts Chairman and CEO Steve Wynn tells Jane Wells in an exclusive interview that he believes the Ebola problem will not be as contagious as past flus have been.
Wynn Resorts Chairman and CEO Steve Wynn tells Jane Wells in an exclusive interview that he doesn't believe online gambling will be legalized nationally, and he explains why.