Shares of casino operator Wynn Resorts (WYNN) finished Monday’s trading day down almost 6 percent. The stock is TheStreet’s Move of the Day. Shares slumped after a note from Sterne Agee analyst David Bain said gaming revenue from Macau, an island in China that permits gambling, will see a double-digit decline. ‘Macau table-only gross gaming revenue [was] $410 million from June 1 to June 7,’ Bain wrote, adding that the run rate points to a 46 percent year-over-year decline in gross gaming revenue, totaling $1.8 billion. ‘While the Macau market should continue to generate sequentially ‘less bad’ results from a growth bottom in February, we expect near-term 2Q15 consensus estimate downward revisions and additional caution directed at [Calendar Year 2016] market estimates post additional smoking restrictions to be implemented by the Macau Government,’ Bain added. That report sent shares of Wynn Resorts lower. TheStreet’s Scott Gamm reports from New York.
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