Wynn Resorts third-quarter earnings top estimates, led by Macau

Wynn Resorts third-quarter earnings jumped just over 24 percent to $1.84 per share on an adjusted basis, boosted by revenue from Macau. Overall revenues rose to $1.3 billion from $1.2 billion in the year-ago quarter. Earnings per share topped analysts’ estimates by 18 cents, while revenue was in line. 

The results were driven by a 9.6 percent gain in revenue from Macau, compared with a 1.1% increase from Las Vegas. Macau net revenue was $997.6 million, while adjusted property earnings before interest, tax, depreciation and amortisation rose 12.6 percent to $329.1 million. Table games turnover in the VIP segment was $30.3 billion, a 9.8 percent increase from $27.6 billion in the third quarter of 2012.

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