Wynn Resorts Ltd (WYNN)

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Slowing Chinese Economy Could Hurt Casino Operators During Fourth QuarterFont
8:16 AM ET 10/28/11 | Marketwire
It is now the heart of earnings season and investors are eagerly awaiting results from the Resorts and Casinos Industry. No doubt there is pressure on companies with a heavy presence in Macau to put up strong numbers following positive growth forecasts from the American Gaming Association. The Paragon Report examines the outlook for the Resorts and Casinos Industry and provides equity research on Melco Crown Entertainment Ltd. (NASDAQ: MPEL) and Wynn Resorts Limited (NASDAQ: WYNN). Access to the full company reports can be found at:

www.paragonreport.com/MPEL

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The American Gaming Association (AGA) says that it expects the island of Macau to post 40 percent year-on-year growth in gross gaming revenues this year. AGA reports that Macau boasts the highest concentration of casinos anywhere in the world.

Macau's Gaming Inspection and Coordination Bureau reported earlier this month that gambling revenue on the small island jumped 39 percent to 21.2 billion patacas ($2.6 billion) in September, reflecting continued growth in the world's largest gambling market despite plunging casino stocks. September's revenue figure was expected to fall short of August's record $3.1 billion due to seasonal factors.

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Asia's strong growth in the gaming industry stands in contrast to the Las Vegas Strip, which is now suffering the effects of the global downturn. Casino stocks have had a fairly difficult two months on fears that a potential slowdown in the Chinese economy might affect companies' operations in Macau.

China's third-quarter gross domestic product was up 9.1% from a year earlier, slowing from 9.5% growth in the second quarter and 9.7% growth in the first, China's National Bureau of Statistics said last week. Growth fell short of the median 9.2% forecast of 14 economists surveyed by Dow Jones Newswires.

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SOURCE: Paragon Financial Limited