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Wynn Resorts Stock Skyrockets on Macau Sub-license Deal

By Chuckmonster on Monday, 6th March 2006 6:26pm
  » filed under Las Vegas  comments: 0

   

Wynn Resorts stock price on the NASDAQ rocketed up almost $11 today after it was announced that they struck a sub-license deal with Australian company PBL to build a casino in Macau. Basically, only a handful of casino operators were given the right to build in Macau, but these operators are given the right to sub-contract out casino licenses to other potential developers. Wynn said "yes" to PBL and got paid $900 million bucks. How about that for a payday.



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