The balance of power in the land-based casino world continues its eastward tilt. Driven by a 32% gain in revenues at its Macau operations, Wynn Resorts beat analysts’ expectations by posting a first-quarter net profit of $27M, compared with a loss of almost $34M in Q1 2009. While revenues in Las Vegas were also up, they were but a pale shadow of the Macau results, and with Wynn’s second Macau property only a week old, this East/West imbalance is only expected to increase in the months and years to come. Read more.
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