Casino beats Street estimates
Wynn Resorts Ltd.’s profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator. Even so, the company’s adjusted earnings exceeded Wall Street’s expectations, and surged. The latest report showed Wynn’s casino resorts in Las Vegas benefited from a stronger gambling business, as its table games and slot machines generating more revenue. Business was weaker at its resort in the Asian gambling center of Macau. Revenue at Wynn’s Las Vegas operations rose nearly 12 percent from a year earlier to $388 million, buoyed by a 22.6 percent jump in net casino revenue. Room revenue rose 1.4 percent to $91 million.