there are 31 casinos in macau. of the 31, if you take the profits or cash flow after interest and depreciation, wynn's resorts single hotel macau exceeded the total of the other 30. >> wow. >> yeah. >> why is that? >> we've got a great staff. we've got a wonderful group of employees. we've got a great president there. a wonderful chief operating officer. and they're very conscious about a relationship with our employees. and at the end of the day, we're in a hospitality business. and it's all about the experience that people have in the building. do they feel good. and people make other people happy, and make other people feel good. you know, the gambling, the back a rat, slot machines, they're all the same everywhere in the world. a gaming table is a gaming table. there isn't a speck difference yags one from the other. but what we're talking about is the human experience, the emotion of attending one of these places. and that has to do with human resource engineering. and our ability to make people feel welcome. t

wynn resorts trying to cash in on macau's market. the stock rose nearly 7% in its trading debut, despite a relatively high offering price. competition in the region will soon heat up. in another first on cnbc interview today, i spoke with the ceo, steve wynn and asked him if he's worried about new competition from singapore, which has the first casino resort coming online early next year. >> i don't think it's going to have any effect on china, the macau market at all. i think it will be a nice market but i don't think the impact will be noticeable at all. remember, if the central government of china decided to let one other province besides quongdong province have one visa per month as they have just done, they could flood macau with human beings so you couldn't walk in the streets. >> wynn resorts today down about 3%. a congressional watchdog is bank the government's programs to stem home foreclosures aren't enough. and they need to be reworked. diane olick in washington with the story. >> reporter: that's right, maria. just as tre

this is just like winn's ipo of its macau business in hong kong. talked about that. thought winn was a buy because its macau business would give the independent valuation that would make people realize that wynn should get some credit. the principle here is the same. banco santander, the parent, which has operations all over the world, isn't getting enough credit for its ultrahot brazilian operations. banco santander is a $134 million bank that i believe after this deal will be less valuable than the sum of its parts. how long can that last? once its brazilian unit starts trading separately investors will see that. stock's going to get a boost. if santander's brazilian operations price as expected the rest of the bank is playing at an implied price to earnings multiple of 6.9 times earnings. that is super cheap when you consider that right now banco santander is trading at 11 times earnings. i'm talking about looking at a 30% or more gain as the ipo unlocks value for the parent company. what happened overnight? the other reason i would buy banco santander instead ban

if you look in september, gaming win in macau was up 53%.matic turnaround. >> it will be bigger than las vegas from now on. >> jake fuller, thank you very much. >> straight ahead, we have more fallout from the david letterman scandal. what does cbs need to do to keep advertisers from jumping ship, if any of going to do that? >>> and keep you up to date on the market. a strong session today. the dow back above 9500, gaining 80 points today. someday, cars will be engineered using nanotechnology to convert plants into components. the first-ever hs hybrid. only from lexus. tdd#: 1-800-345-2550 i want everything right where i can find it. tdd#: 1-800-345-2550 anything that makes trading easier. tdd#: 1-800-345-2550 i want to be right in the middle of the action-- tdd#: 1-800-345-2550 you know-- i have to see what's going on. tdd#: 1-800-345-2550 and when i pull the trigger... tdd#: 1-800-345-2550 ...i've got to get the best price out there. tdd#: 1-800-345-2550 (announcer) try the new schwab.com tdd#: 1-800-345-2550 for yourself. tdd#: 1-800-345-

to help on kong and macau remain prosperous and stable.to seek peaceful development in relations and to work for the complete reunification of the motherland. this is the common aspiration of the chinese nation. [applause] we will on sri maintain an independent foreign policy of peace. we will follow a passive -- a path of peaceful development. this is based on the five principles of peaceful coexistence and will develop friendly cooperation. we will join hands and people all over the world in pushing for the goal of making the world more peaceful and progressive. and building a harmonious world of long-lasting peace and prosperity the chinese people's liberation army and the people's police force should all pull their glorious traditions and build up their own strength and fulfill their missions respectively. this will make good trot -- could contributions to promoting national security and integrity as well as world peace. history has shown us that the road ahead will not always be as smooth as what we expect. the chinese people, who are