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US based Casino CompanyWynn Resorts stock rose on Tuesday as the company found out that they will be getting word on September 10th whether they have been accepted to trade on the Hong Kong Stock Exchange.
On Tuesday, after the news of the review process for their application surfaced, Wynn Resorts jumped up 4.54%, to $58.02. The company's stock dropped slightly on Monday before rebounding Tuesday.
By applying for the public offering in Hong Kong, Wynn has the hopes of raising $1 billion. The underwriters for the plan areCredit Suisse Group and Morgan Stanley, and Wynn officials’ hope that will be enough to get the application approved in September.
Casino stock in the US has been experiencing a little revival of late. Other companies also had small gains on Tuesday. Las Vegas Sands was up to $14.42 a share, and MGM Mirage was up 2.33%, to $8.77.
On the London Stock Exchange, the news was also good on Tuesday for gaming operators. Ladbrokes stock was up 2%, to ￡193.60, and William Hill stock increased 3.44%, to ￡180.40. PartyGaming, who yesterday announced they would be acquiring the World Poker Tour, was up ￡1.40, closing Tuesday at ￡271.
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