Wynn Resorts Swings To Q3 Profit

(RTTNews) - Wynn Resorts Limited (WYNN) on Thursday reported third-quarter net income of $88.3 million or $0.85 per share, compared with a loss of $32.1 million or $0.29 per share in the same period last year.

Operating revenues increased to $1.83 billion from $1.69 billion a year ago. Adjusted Property EBITDAR rose to $570.1 million, reflecting improved performance in Macau and Las Vegas.

Wynn Resorts shares closed Thursday at $122.54. The stock has gained 15 percent over the past three months and 41 percent in the last 12 months.

Separately, Wynn highlighted a brand-building initiative as Wynn Las Vegas hosted its annual Concours event, where a 1929 Mercedes-Benz 680 S Barker Tourer and 1951 Ferrari 212 Export were named "Best of Show."

Management reiterated plans to open the upcoming Wynn Al Marjan Island resort in the UAE in 2027. The company noted, however, that VIP table-game win rates remain soft and Encore Boston Harbor experienced modest weakness.