Wynn Macau Shares Off to the Races, Place your Bets

Macau China is back in full swing, thanks to Wynn Macau Ltd. (Public, HKG:1128) led by billionaire Stephen Wynn, jumped as much as 13% on its first trading day in Hong Kong Exchange (HK) after raising $1.63 billion in the city’s second-largest IPO this year.
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The Wynn Macau is beyond impressive, see for yourself at http://www.wynnmacau.com/en/

Shares in the firm rose as high as 11.40 Hong Kong dollars (1.47 US) in early trade, up from its initial public offering (IPO) price of 10.08 dollars and outperforming the Hang Seng Index.

Wynn has raised 1.6 billion US dollars in share sales to expand gaming operations in the southern Chinese gaming haven of Macau.

The former Portuguese colony, the only city in China where casino gambling is legal, has now leapfrogged Las Vegas in terms of gaming revenue after opening up its market to overseas operators in 2002.

"Wynn Macau has a unique quality because its customers are from China and the surrounding region," said Jackson Wong, vice president of Tanrich Securities.

"That is a huge market compared to Las Vegas so there is potential for huge growth."

He said the company had also benefited from strong brand recognition, an important factor for Chinese investors, as well as gains in the Hong Kong stock market this week.