Wynn Resorts is having a good week.

Steve Wynn’s choice to buy up one million of their own business’s stocks appears to have restored market faith in his company, and a previously delayed opening for his latest Macau venture has been once again returned to its opening that is original date.

The company’s stock, which has declined steadily in unison with Macau’s fortunes over the year, rallied in the wake for the news that the mogul had spent around $63.9 million to acquire 1,003,977 shares in the market that is open at $64.44 each.

It is a incredibly bullish move from Wynn, who, despite the slump in Macau, clearly has faith in the long-term profitability of Wynn Palace Macau, the $4.1 billion mega-resort currently under construction on the Cotai Strip.

The market responded accordingly, and share costs climbed, finishing up at $69.91 during the close of trading on Friday.

Placing His Money Where His Casinos Are

The market always reacts well to bullish stock purchases, especially if they come from the brass that is top. Motley Fool said this week that, despite Macau’s tumbling fortunes, Wynn Resorts remains a proposition that is strong long-term investors.

‘ In this situation, perhaps not only is Steve Wynn bullish on his company, he is placing his money where his mouth is,’ said