Wynn Resorts Reports $27M Profit - 8 News NOW

Wynn Resorts Reports $27M Profit

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LAS VEGAS -- Casino operator Wynn Resorts Ltd. did better than expected in the first quarter, benefiting from higher revenue in China and Las Vegas, and it turned a profit in contrast with a loss a year earlier.

The Las Vegas-based company said Thursday that it earned $27 million, or 22 cents per share, for the period that ended March 31. That's compared with a loss of $33.8 million, or 30 cents per share, a year earlier.

Wynn Resorts says its revenue in Macau, the Chinese gambling enclave, increased 31.6 percent, and revenue in Las Vegas rose 9.3 percent.

Total revenue was $908.9 million, compared with $740 million a year earlier. Analysts polled by Thomson Reuters expected Wynn to earn 14 cents per share on revenue of $850 million.

 (Copyright 2010 by The Associated Press. All Rights Reserved.)

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