Wynn Resorts Ltd (WYNN) Q1 Macau Revenue Seen at $603-$613M

Wynn Resorts, Limited (Nasdaq: WYNN) announced preliminary expectations of its financial results for the first quarter ended March 31, 2016. The results in this release are preliminary and subject to the completion of the final financial statements, including the review of those financial statements by the Company’s internal accounting professionals, audit committee and independent registered public accounting firm.

Macau Operations

In the first quarter of 2016, net revenues are expected to be in the range of $603 million to $613 million, compared to $705.4 million generated in the first quarter of 2015. Adjusted property EBITDA (1) is expected to be in the range of $187 million to $195 million in the first quarter of 2016, compared to $212.3 million for the first quarter of 2015.

Las Vegas Operations

In the first quarter of 2016, net revenues are expected to be in the range of $384 million to $394 million, compared to $386.9 million generated in the first quarter of 2015. Adjusted property EBITDA is expected to be between $105 million and $113 million for the first quarter of 2016, compared to $110.7 million for the first quarter of 2015.

*** Note: Total revenue should range from $987 to about $1.01 billion, with the Street consensus at $998 million.

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