Wynn Resorts Meets Estimates
NEW YORK (
) --
Wynn Resorts
(WYNN) - Get Report
saw third-quarter revenue top expectations, while earnings fell in-line.
During the quarter, the casino operator lost $33.5 million, or 27 cents a share, compared with a profit of $34.2 million, or 28 cents, in the year-ago period. On an adjusted basis, Wynn Resorts actually earned 39 cents, matching Wall Street's outlook.
Wynn Resorts revenue grew to $1 billion from $773.1 million, better than the $990.8 million analysts predicted.
Wynn Macau saw revenue surge 50% to $671.4 million, while EBITDA was $198.0 million, up 54.5% from $128.2 million in the third quarter of 2009.
In Las Vegas, revenue inched up 3.1% to $334.5 million, and EBITDA grew 9.3% to $76.5 million.
Wynn Resorts also announced an $8 cash dividend payable on Dec. 7 to shareholders of record on Nov. 23.
--Written by Jeanine Poggi in New York.
>To contact the writer of this article, click here:
Jeanine Poggi
.
>To follow the writer on Twitter, go to
.
>To submit a news tip, send an email to:
.
