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The casino giant Wynn Resorts plunges after saying its Macau business is slowing down (WYNN)

Wynn Resorts plunged as much as 14% Thursday after the company said its Macau business has slowed down in October.

Visitors from mainland China take pictures outside the Wynn Hotel in Macau.
  • The casino giant's strength at Wynn Palace in Macau offset its weakness in Las Vegas.
  • CEO Matthew Maddox warned that its Macau operations had seen a slowdown recently.

But on the earnings call, CEO Matthew Maddox warned investors that Wynn's Macau operations have seen a notable slowdown after China's National Day Golden Week, a seven-day holiday at the beginning of October.

"Since Golden Week, we've noticed that during the midweek, it's been quite choppy and the weekends have been sporadic," Maddox said.

"We can have one big weekend, maybe one or two days are big as opposed to all three. And so what we've seen post-Golden Week has been a slowdown. And we've seen it, in particular, in the premium end of the business, premium mass, premium slots, and VIP, and that is where the vast majority of our EBITDA comes from."

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Here are the key numbers of

  • Adjusted earnings per share:
  • Revenue:
  • 1.71 billion ($1.67 billion expected)
  • 2 of the US's biggest casinos are reportedly exploring a deal
  • Trump has advanced the personal interests of a casino magnate worth $35 billion — here's how the Las Vegas Sands owner exerts his influence
  • Caesers is getting mauled after warning of a slowdown in Las Vegas

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