Updated with closing stock prices.

Shares of casino companies closed mixed on Wednesday after news that Las Vegas Sands ( LVS) was considering an IPO for its Macau property.

Las Vegas Sands ( LVS) closed at $6.65, down 3.6%.

"We're actively, aggressively, sincerely looking at an IPO," Chairman Sheldon Adelson said at a news conference in Singapore. "We're talking to investors about putting in large amounts of equity and we're also talking to banks about project financing."

An initial public offering of its Macau assets and the sale of related businesses could raise $3.5 billion to $4 billion, Adelson said. Cash-strapped Las Vegas Sands needs about $2 billion to finish its newest Macau hotel and casino project and is aiming to have the financing together by September, Adelson said.

Adelson said Las Vegas Sands is also looking at selling stores in the Venetian resort in Macau, as well as condos and retail space in the neighboring Four Seasons property. The company also owns the Sands casino resort in Macau, and the Sands Casino Resort Bethlehem in Pennsylvania.

Adelson said the company's Venetian and Palazzo casinos in Las Vegas, where it laid off 194 workers last week, have had better-than-expected business this summer.

"Our results in June were significantly higher than what we expected," Adelson said. "Our projections for the summer, while slower than previous summers, are also somewhat ahead, and we're adjusting our internal forecasts almost every week."

Elsewhere, an analyst has cut his outlook on Wynn Resorts ( WYNN), due to weaker business in Macau.

Dennis Forst of KeyBanc Capital Markets said in a client note that Macau's June gaming revenue decline of 17% made him trim his second-quarter forecast to a loss of 7 cents per share from a profit of 3 cents per share.

Forst now expects a third-quarter loss of 7 cents per share and a fourth-quarter loss of 3 cents per share. Forst previously predicted earnings of 13 cents per share and 14 cents per share, respectively.

"While we believe that Wynn will be able to ride out this economic cycle, the stubborn recession will likely keep a lid on cash flows for several more quarters," Forst wrote in a client note. He maintained his hold rating on the shares.

Shares of Wynn were finished down 2.7%, to $29.91.

A study released this week by the University of Cincinnati projects that if voters improved a constitutional amendment to allow casino gambling in four Ohio cities, the state would gain 34,000 jobs.

Penn National Gaming ( PENN), based in Wyomissing, Pa., and Dan Gilbert, the owner of the Cleveland Cavaliers, would invest in the $1 billion proposal if approved for Cincinnati, Cleveland, Columbus and Toledo.

Shares of Penn National Gaming closed at $26.88, up 0.8%.

Elsewhere among casino companies,

MGM Mirage ( MGM) closed down 6.3% to $5.52.

Boyd Gaming ( BYD) was up 0.8% to $7.71.

Ameristar Casinos ( ASCA) was down 1.3% to $17.66.

Isle of Capri Casinos ( ISLE) was down 3.4% to $12.

Melco Crown Entertainment ( MPEL) was down 8.2% to $4.26.

Pinnacle Entertainment ( PNK) was up 0.7 to $8.54.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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