Wynn Resorts logs quarterly profit above estimates on Macau gains

Wynn Resorts, Limited

Wynn Resorts, Limited

WYNN

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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.


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