Wynn Resorts, Limited (NASDAQ:WYNN) was the third largest new position initiated by Bridgewater last quarter, as the fund purchased some 74,700 shares valued at $11.11 million. The stake of the developer, owner and operator of destination casino resorts, at Citadel Advisors was also bumped up 5% to 515,200 shares valued at $76.64 million.
Shares of the $14.22 billion company are down 4.8% year-to-date. Fourth quarter financial results included an EPS of $1.20 that was $0.23 short of the estimates and $1.14 billion in revenues that missed the estimates by $70 million on account of a 32% drop in Macau revenues. Wynn Resorts, Limited (NASDAQ:WYNN)’s financial problems were further aggravated when in late February, reports of the Chinese government putting a possible cap on mainland visitors to Macau in order to prevent over-crowding surfaced, fueling fears of further lost revenue from that district.