Wynn Resorts Becoming “More Chinese” With Hong Kong IPO

Wynn Resorts is selling 25% of its Wynn Macau property for an estimated $1.5 Billion through an IPO next month. The Financial Times is reporting that this is the first time an American company has issued shares on the Hong Kong Stock Exchange. Steve Wynn, the man responsible for redefining the Las Vegas strip 20 years ago, is quoted as saying he would like Wynn resorts to become “more of a Chinese company.” There is good reason for this strategy – Macau is already the world’s largest gaming market, with gambling proceeds doubling those of Las Vegas. By successfully integrating Chinese perspective and sensibilities into the product, marketing, operational and now financial aspects of his casinos, Wynn Resorts’ chairman is positioning the company to benefit from a growing market of Chinese players over the next 20 years.