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DJ Wynn Macau May Have the Worst From the Pandemic Behind It -- Market Talk

· 02/05/2021 03:10

0810 GMT - The worst from the pandemic may be over for Wynn Macau as it sets its sights on increasing its market share in the premium-mass segment as visitors gradually return, Citi says. Wynn Macau's two casinos returned to profit in 4Q after making losses in the previous two quarters. Nonetheless, the casino operator's exposure to the VIP segment may be hurt by Chin's crackdown on cross-border gambling, and it may face fierce competition from peers launching new resorts. Citi raises its rating to buy from neutral and lifts its target price to HK$15.25 from HK$14.00. Shares gain 4.4% to HK$13.20. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

February 05, 2021 03:10 ET (08:10 GMT)

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