Wynn Resorts Ltd (WYNN)

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Wynn Resorts stock falls; Macau property's revenue down 15%
By: MarketWatch | May 9, 2019

Shares of Wynn Resorts Ltd. WYNN, +0.27% fell nearly 4% in the extended session Thursday after the hotel and casino operator swung to a profit in the first quarter and reported operating revenues below expectations, including a 15% revenue decrease from its property in Macau, China. Wynn said it earned $104.9 million, or 98 cents a share, in the quarter, versus a loss of $204.3 million, or $1.99 a share, in the first quarter of 2018. Adjusted for one-time items, the company earned $172.6 million, or $1.61 a share, in the quarter, compared with $237 million, or $2.30 a share, a year ago. Operating revenue fell 4% to $1.65 billion in the quarter, compared with $1.72 billion a year ago. Analysts polled by FactSet had expected adjusted EPS of $1.59 on operating revenue of $1.67 billion. In the same press release, Wynn said it approved a cash dividend of $1 a share payable May 30 to shareholders of record May 22.

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