On Tuesday night's investor call for Wynn Resorts, the outspoken CEO took an unusually cautious stance on Macau, a Chinese gambling mecca. Wynn called out the recent turmoil in neighboring Hong Kong, smoking restrictions and a crackdown on indulgences by the Chinese government. He didn't venture to predict how soon things might get better. "It's worse in October than it was before October. So if you're asking what is the nadir of our experience? It is currently," Wynn said. At one point on the call Wynn's dog starting barking audibly—perhaps sharing some of the tycoon's frustration. Somewhat surprisingly, shares of the Macau units of major casino operators rallied on the news. Hong Kong-listed Wynn Macau rose 4.5 percent in Wednesday's session while Sands China jumped 5.3 percent and MGM China holdings gained 5.4 percent. Unfortunately, there's little reason to expect further gains anytime soon.