Wynn Macau at risk of losing market share: Citi

Red alert for Wynn Macau: according to Citi Global Gaming latest update, the gaming operator’s market share dropped to 13 percent in the first 15 days of August. Wynn Macau’s market share had already dropped from 17 percent in June to 15 percent in July. “Without a property on Cotai until 2014 at the earliest, Wynn Macau could continue to cede market share in the medium term. We reiterate our sell ratings on Wynn Resorts and Wynn Macau," Citi said. The big winner so far has been Melco Crown Entertainment, whose share has rise to 19 percent in the first half of August. In July, the company had a market share of almost 15 percent. According to Citi Global Gaming, table revenue in Macau through the first 15 days of August rose 50.6 percent year-on-year and 12.5 percent month-on-month.