Monday, May 07, 2007 5:42:35 PM
WYNN 101-108-103 beats by $0.13 (101.85 -0.67) : Reports Q1 (Mar) earnings of $0.67 per share, excluding non-recurring items, $0.13 better than the Reuters Estimates consensus of $0.54; revenues rose 129.2% year/year to $635.3 mln vs the $553.7 mln consensus.
Wynn Resorts: Earnings conf call summary (101.85 -0.67) -Update : Co did not provide guidance... Co says working very hard to understand the Macau mkt. Notes they now pay the most taxes per table of any co there and are proud of it... Co says size of expansion in China is "mind-boggling." Talks about history of resorts & casinos in Las Vegas and says patrons do not care about the size of a resort & casino; it's more about quality than size. Stressing to shareholders that WYNN should be conservative with "unprecedented" demand in Macau. Mentions neighbor who added hundreds of tables and did worse... Co says spending $3-4 mln a quarter on employees in Macau. Not looking for other workers (LVS announced extra cost for new worker training for their expansion there)... Co says can't wait until Palazzo opens. Want to have strong neighbors. Mentions how historically they have a higher hold percentage than their neighbors... Co says when comparing Q1 in Macau to Q4, see no weakening, and sees strengthening in VIP and slots. Says its continued into April and first week of May, which is "Golden Week" in China... Stock is trading $104.20 after hours.
07-May-07 16:47 ET In Play Wynn Resorts on call (101.85 -0.67) -Update : Co says size of expansion in China is "mind-boggling." Talks about history of resorts & casinos in Las Vegas and says patrons do not care about the size of a hotel & casino; it's more about quality than size. Stressing to shareholders that WYNN should be conservative with unprecedented demand in Macau. Mentions neighbor who added hundreds of tables and did worse... Call is already on to Q&A... Stock is trading $105.90 after hours
Wynn Resorts: Earnings conf call summary (101.85 -0.67) -Update : Co did not provide guidance... Co says working very hard to understand the Macau mkt. Notes they now pay the most taxes per table of any co there and are proud of it... Co says size of expansion in China is "mind-boggling." Talks about history of resorts & casinos in Las Vegas and says patrons do not care about the size of a resort & casino; it's more about quality than size. Stressing to shareholders that WYNN should be conservative with "unprecedented" demand in Macau. Mentions neighbor who added hundreds of tables and did worse... Co says spending $3-4 mln a quarter on employees in Macau. Not looking for other workers (LVS announced extra cost for new worker training for their expansion there)... Co says can't wait until Palazzo opens. Want to have strong neighbors. Mentions how historically they have a higher hold percentage than their neighbors... Co says when comparing Q1 in Macau to Q4, see no weakening, and sees strengthening in VIP and slots. Says its continued into April and first week of May, which is "Golden Week" in China... Stock is trading $104.20 after hours.
07-May-07 16:47 ET In Play Wynn Resorts on call (101.85 -0.67) -Update : Co says size of expansion in China is "mind-boggling." Talks about history of resorts & casinos in Las Vegas and says patrons do not care about the size of a hotel & casino; it's more about quality than size. Stressing to shareholders that WYNN should be conservative with unprecedented demand in Macau. Mentions neighbor who added hundreds of tables and did worse... Call is already on to Q&A... Stock is trading $105.90 after hours
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