David Orrell/CNBC/NBCU Photo Bank/NBCUniversal/Getty Images
- Jim Chanos holds a short position against US casino stock Wynn, saying it’s 50% overpriced.
- Wynn’s exposure to the potential overhaul of the gambling industry in Macau should not be ignored, he said.
- The US casino’s stock was last trading around $82 per share on Tuesday, but Chanos said it’s worth around $40.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Jim Chanos, the veteran short seller who predicted Enron’s collapse two decades ago, said his firm is betting that Wynn Resorts‘s share price will fall, given Chinese authorities are turning up the heat on casino operators.
Chanos, the founder of Kynikos Associates, told CNBC Monday he ha…
Read the full article at: https://markets.businessinsider.com/news/stocks/jim-chanos-wynn-stock-china-casino-short-seller-macau-crackdown-2021-9