Asia-Pacific markets opened softer amid a downbeat tone set by U.S. markets overnight.
Hong Kong-listed shares of casino operator Wynn Macau slid 9.33% to their lowest in nearly a year. The company posted a smaller quarterly net loss of $6.2 million versus the previous year's quarterly loss of $242.0 million. The results come as Wynn Macau's controlling shareholder, Wynn Resorts faces a strike in Las Vegas if it does not reach a deal with workers before the union's 5 a.m. PT Friday deadline.
Hospitality workers have already struck agreements with rival casino giants Caesars and MGM Resorts . Wynn Resorts also reported third-quarter earnings overnight. During the earnings call, Chief Financial Officer Julie Cameron-Doe referenced $10 million in one-time charges that included 'accrual to the anticipated increases associated with a new union contract.' Shares of other casinos that operate in both Macao and Las Vegas were also lower in Hong Kong trading. MGM China fell 1.
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