Wynn Resorts Falls as Original Macau Casino Revenue Drops

The transcript discusses the recent earnings report of Wynn Resorts, highlighting a sales miss against analyst estimates. The focus is on the performance of Wynn's Macau operations, where the older Wynn Macau resort saw a 15% sales decrease, while the newer Wynn Palace experienced a 57% sales increase. This raised concerns about potential cannibalization between the two resorts. The report also notes a decline in other casino stocks, reflecting investor jitters due to Macau's gaming numbers falling short of expectations.

What does the term 'cannibalizing' refer to in the context of the newer and older resorts?

What impact did the reported gaming numbers have on US operators in Macau?