Wynn Resorts logs quarterly profit above estimates on Macau gains
Wynn Resorts, Limited WYNN | 0.00 |
May 7 (Reuters) - Casino operator Wynn Resorts WYNN.O beat Wall Street estimates for first-quarter profit on Thursday, driven by stronger business in Macau.
Wynn said adjusted profit from its properties in Macau, a city under Chinese rule, rose over 10% in the quarter.
The company's properties in Macau include Wynn Palace and Wynn Macau. It also has properties in Las Vegas.
CEO Craig Billings said the company was "closely monitoring the broader situation in the Gulf region" amid the conflict in the Middle East.
The company had resumed construction of its integrated resort in the United Arab Emirates last month following a short pause.
Its quarterly adjusted profit of $1.25 per share came ahead of analyst expectations of $1.18 per share, according to data compiled by LSEG.
The company saw a 9.2% rise in total operating revenues for the quarter.
Shares of the company were marginally up in after-hours trading.
