Growth in Macau lifts Wynn Resorts 1Q profit

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Updated: 5/01 2:02 pm

LAS VEGAS (AP) — Wynn Resorts says its first-quarter net income increased 12 percent as revenue from its growing operations in Macau offset a small decline at its Las Vegas casinos.

The casino operator reported Thursday that it earned $227 million, or $2.22 per share, for the period ending March 31. A year earlier it posted profit of $203 million, or $2 per share, during that period.

Excluding one-time items, earnings came to $2.32 per share, beating analysts' prediction of $2.06 per share.

Revenue rose 10 percent, to $1.51 billion from $1.38 billion. Wall Street predicted $1.49 billion, according to FactSet.

Wynn's stock is up 2.5 percent in aftermarket trading.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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