Wynn Resorts Ltd. expects to open its Wynn Palace casino resort in Macau on Aug. 22, another delay for the $4 billion hotel project in the Chinese gambling enclave.

Last year, Wynn said the big hotel project in the Cotai area of Macau would open in June, instead of March.

Gambling revenue in Macau, which had been a growth area for the casino industry, is in the midst of a prolonged slump, as an anticorruption drive in China has led to a decline in the number of high rollers that generate the bulk of the sector's revenue.

Wynn's latest project, and those by other operators, were planned when Macau's casinos were booming but are now seen weighing on prospects for a recovery there.

In May, Wynn reported a first-quarter profit, reversing a year-ago loss, and its smallest quarterly decline in revenue from Macau since the third quarter of 2014.

Wynn shares, which have risen by a third this year, fell 2.8% to $89.68 in morning trading in New York.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

June 27, 2016 10:35 ET (14:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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