Winning Is Difficult For Wynn Resorts (WYNN)

According to Barrons, the US$ 7 billion Wynn Resorts (NASDAQ: WYNN) reported its 3rd quarter working results which indicated a fall in occupancy and higher costs. The company’s revenues increased 1% to $ 773 million. The average estimate of analysts was $ 743 million.

Except for casino operations, revenues from rooms, food and beverage, entertainment proceeds rose. Revenues from casino fell 15%. However, its Vegas operations are still a drag. These are affecting the higher growth achieved in its Macau operations. If the company was unable to control Macau’s operational costs, Wynn Resorts may have reported an operating loss. Steve Wynn also assured that the worst is over. However, investors are still not comfortable with the Wynn Resorts' performance. Last year, the company earned $2.51 a share. This year, the projected earnings per share is 21 cents.