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Wynn Resorts (WYNN) fell Friday after the casino operator's first-quarter revenue missed analysts' forecasts.

Adjusted earnings in the quarter were $1.61 a share topping forecasts by 2 cents, but revenue of $1.65 billion fell 4% from a year earlier and came in below estimates of $1.67 billion.

CEO Matt Maddox said on a conference call that casino revenue would soon rebound.

"I don't know how long that area is going to be compressed, but what I do know is the demand is still there," Maddox said. "And so, we feel very comfortable that when that business begins to come back, we're going to be perfectly situated to capture it."

The stock fell 3.1% on Friday to $132.13.

Wynn shares declined sharply earlier this week amid concerns that the company's sizable operations in China will be negatively impacted by the trade war between the U.S. and Chinese governments.

Wynn Resorts gets about 75% of its revenue from China, according to FactSet.

Maddox also said that Encore Boston Harbor's June 23 opening could be delayed "a week or two later" as Wynn considers whether to accept fines and conditions set by Massachusetts gambling regulators.

Wynn was handed a $35 million fine from Massachusetts but was allowed to keep its state casino license and open its Boston-area resort as planned after executives failed to disclose years of allegations of sexual misconduct against company founder Steve Wynn.