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Fly News Breaks for July 29, 2016
WYNN
Jul 29, 2016 | 09:14 EDT
s previously reported, Nomura downgraded Wynn Resorts to Reduce from Neutral and raised its price target to $83 from $78. Analyst Harry Curtis said the soft Q2 results are the least of the company's worries. Wynn commented that it would only have a 100 table games in place for the Wynnn Palace on opening. Curtis said the allocation is a clear message from Beijing that it is serious about table cap enforcement and the 150 table reduction versus his forecast reduces earnings by $85M in 2017.
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