The company said its decision to scale back its expansion plans is based on newly enforced visa requirements from Guangdong province, Beijing and Shanghai.
Additional casino supply with the upcoming openings of the Venetian Macao and MGM Grand Macau were also cited.
A Deutsche Bank report stated, “Wynn’s repurchase programme is a clear positive, while Wynn also indicated materially better operating results.”
The report added, “However, with respect to the visa issues and new competition, we believe Wynn is exercising caution and judiciously adding supply as needed.”
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