Wynn Results Miss Estimates As Revenue Falls At Macau, Las Vegas

(RTTNews) - Casino operator Wynn Resorts Ltd (WYNN) on Wednesday reported second-quarter net earnings of $56.5 million or $0.56 per share compared with $203.9 million or $2.00 per share last year.

Excluding items, adjusted earnings for the quarter were $0.74 per share compared with $2.11 per share a year ago.

Revenues for the quarter were lower at $1.04 billion compared with $1.41 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.96 per share on revenues of $1.07 billion for the quarter. Analysts' estimates typically exclude special items.

Wynn said it suffered from a 35.8% slump in revenue at its Macau Operations and a 6.2% decline at its Las Vegas Operations.

Wynn also announced a cash dividend of $0.50 per common share.