Wynn Posts Surprise Loss; Melco Will Not Pursue Crown Resorts Deal

The video discusses the financial challenges faced by Wynn Resorts and Melco Resorts due to declining revenues in Macau and Las Vegas, exacerbated by the temporary closure of Macau casinos. It highlights the impact of reduced tourist arrivals during the Lunar New Year and the closure of Hong Kong ferry terminals. Melco Resorts is reassessing its investments, including its stake in Crown Resorts, amid a negative credit watch. Additionally, the Art Basel event in Hong Kong is canceled due to health and safety concerns, affecting international travel and logistics.

What was a significant factor contributing to the decline in Macau's gross gaming revenue in January?

• A decrease in tourist arrivals during the Lunar New Year

• Increased competition from other regions

• New government regulations

• A rise in local taxes

What action did Melco Resorts take in response to the financial outlook?

• Increased their investment in Crown Resorts

• Reassessed their non-core investments

• Opened new casinos in Macau

• Launched a new marketing campaign

Why was the Art Basel event in Hong Kong canceled?

• Lack of interest from participants

• Venue unavailability

• Health and safety concerns

• Financial constraints