NEW YORK (TheStreet) -- Wynn Resorts (WYNN) shares are down -4.7% to $183.83 on Tuesday following news of a third straight month of revenue decline in China's Macau gaming region.
Gaming revenue fell 6.1% during the quarter to $3.6 billion during August, a much steeper decline than the 2% analysts were expecting for the period.
Revenue has been hurt by Chinese government's probe into governmental corruption in which 84,000 government officials have been disciplined since the beginning of this year.
The government review, known as a plenum, is expected to conclude in October.
TheStreet has a full review of the Macau region's August gaming numbers here.
TheStreet Ratings team rates WYNN RESORTS LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate WYNN RESORTS LTD (WYNN) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."