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Wynn Macau revenue jumps 10pc; shares rise

Wynn Macau posted robust growth in the first quarter, helping to boost its parent group Wynn Resorts’ revenue and underlining the incentive for CEO Steve Wynn to develop his business further in the bustling enclave off China’s coast.

Macau, the world’s largest gambling destination, has been a goldmine for US operators, raking in six times what Vegas does as visitors from mainland China spend big at the slots and baccarat tables in the only Chinese city where casino-gambling is legal.

Wynn’s company received formal approval last week to build a new Macau casino, and he told a conference call following the earnings results that it would take three and a half years to complete, with the firm going "lickety-split" to get it done.

(Source: CNBC)