Wynn Resorts Earns $127M in 3rd Quarter - 8 News NOW

Wynn Resorts Earns $127M in 3rd Quarter

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LAS VEGAS  -- Casino operator Wynn Resorts Ltd. is reporting third-quarter net income of $127.1 million, compared with a loss of $33.5 million a year earlier.

The company led by billionaire Steve Wynn credited a busy period in Macau, which is the world's top gambling market and was the source of three-quarters of Wynn's revenue.

The company said Wednesday that it earned $1.01 per share, compared with 27 cents per share during a year earlier, when it paid off significant debt.

Its adjusted earnings of $1.05 per share fell short of Wall Street's average estimate for $1.18 per share, according to data from FactSet. The company's $1.29 billion in revenue, up from $1 billion a year earlier, was in line with analysts' average estimate.

The shares fell more than 4 percent after hours.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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