By Kelly Cloonan
Wynn Resorts logged lower profit and revenue in the first quarter as each of its segments posted sales declines, including its key casino unit.
The Las Vegas operator of casinos and resorts on Tuesday posted a profit of $72.7 million, or 69 cents a share, compared with $144.2 million, or $1.30 a share, a year earlier.
Adjusted earnings per share was $1.07, below estimates of $1.24 a share, according to analysts polled by FactSet.
Revenue fell to $1.7 billion compared with $1.86 billion a year ago. Analysts expected $1.74 billion.
Casino revenue fell to $1.04 billion from $1.12 billion. Sales of rooms, food and beverage, and entertainment and retail all declined as well.
Chief Executive Craig Billings said the company's Las Vegas business delivered healthy results against a record prior year comparison, driven by the city's hosting of the Super Bowl. The company's Macau business was weighed down by VIP hold but maintained market share, he said.
Shares fell 5.8% to $78.70 in after-hours trading.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 06, 2025 16:25 ET (20:25 GMT)
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