Steve Wynn Sees Macau Earnings Jumping - 'Easily Twice as Big' (WYNN)

Wynn Resorts WYNN could see its earnings jump substantially on its Macau properties if Chairman and CEO Steve Wynn has his way. The company is expected to open a new resort in the Chinese city within the next four to five years. “I don't know what measurements you use -- revenue, profitability, total visitation, but we could be easily twice as big,” Wynn said in a May 14 interview with Bloomberg television. Notably, Wynn sees Macau as a significant growth driver for the company, especially when Las Vegas continues to recover. “We're really a Chinese company now, rather than an American company,” he commented. On when he sees the Macau expansion, Wynn noted that he expected government permission to start building the new casino “any day now.” Macau gambling revenue hit $23.5 billion in 2010, which is about four times higher than Las Vegas. Shares of Wynn Resorts lost $0.56 on Friday, to close at $146.27.