By Connor Hart
Wynn Resorts logged higher-than-expected profit and revenue in the fourth quarter, fueled by its casino business and market-share gains in China.
The Las Vegas operator of casinos and resorts on Thursday reported a profit of $277 million, or $2.29 a share, compared with $729.2 million, or $6.19 a share, a year earlier. Last year's quarter included an income tax benefit of $474.2 million, the company said.
Adjusted per-share earnings came in at $2.42, exceeding the $1.27 that analysts polled by FactSet had forecast.
Revenue was flat at $1.84 billion and came in ahead of the $1.77 billion that analysts were looking for, according to FactSet.
Casino revenue rose to $1.11 billion from $1.07 billion. The increase offset sales of rooms, food and beverage, and entertainment and retail, which notched year-over-year declines.
Chief Executive Craig Billings said the company delivered a strong quarterly performance in Las Vegas, while driving market-share gains in Macau, thanks to its premium offerings. He added that the company should benefit from the construction of its Wynn Al Marjan Island project in the United Arab Emirates.
Shares rise 1.8%, to $81.95, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 13, 2025 16:50 ET (21:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。