Wynn Resorts Tumbles as Macau Mulls Limit to Tourist Visas

Shares of Wynn Resorts tumbled on Tuesday making it TheStreet's Move of the Day. The casino owner slid after a senior government official of Macau said the region is considering putting a cap on the number of mainland Chinese tourists to avoid overcrowding. Wynn generates two-thirds of its revenue from its Macau assets. Wynn is already hurting from its exposure to the region as a crackdown on corruption in China has deterred high-rollers from spending up big. Macau suffered its eighth straight month of declining casino revenue in January, its longest losing streak on record. Other decliners on the news included MGM Resorts and Las Vegas Sands.