Operating income for Wynn Macau is expected to come in between $100 and $106 million, as much as double the $53.2 million produces in 2Q07. Adjusted property EBITDA is expected to be in the range of $152 million to $158 million in the second quarter of 2008, compared to $92.7 million in 2Q07.

With regard to the stock buyback, Wynn says its board of directors authorized a $500-million increase in its previously announced $1.2-billion equity repurchase program. With regard to a secondary listing in Hong Kong, South China Morning Post, citing unnamed sources, says Wynn already has retained USB, Deutsche Bank and Morgan Stanley to advise on the possible listing, which could generate a few billion for the company to continue its expansion.

Wynn Resorts recently acquired a 52-acre site on the Cotai strip for a development that would include 1,500- to 1,800 rooms and get under construction next year. The property is a one-time landfill that sits between two outlying islands. Wynn also is planning to add to Wynn Macau with a 400-room tower called Encore, just like its addition in Las Vegas. That project is slated to open in 2010.