GO
Loading...

Wynn Resorts' 3Q profit falls, revenue flat

LAS VEGAS -- Wynn Resorts Ltd. says its profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator.

The Las Vegas company said Wednesday that net income fell to $112 million, or $1.11 per share, compared with net income of $127.1 million, or $1.01 per share, a year earlier.

Excluding the loss on the extinguishment of debt and other one-time items, Wynn's earnings amounted to $1.48 per share. Analysts polled by FactSet had expected $1.32 per share.

Wynn's revenue was flat at $1.3 billion, in line with Wall Street's expectations.

Revenue increased nearly 12 percent at the company's Las Vegas operations, but declined 4.5 percent at its Macau businesses.

Wynn's shares gained $4.26, or 3.8 percent, to $116.55 in after-hours trading.