Wynn Resorts Ltd (WYNN) Misses Q1 EPS by 43c, Revenues Miss

Wynn Resorts Ltd (NASDAQ: WYNN) reported Q1 EPS of ($2.41), $0.43 worse than the analyst estimate of ($1.98). Revenue for the quarter came in at $725.8 million versus the consensus estimate of $758.02 million.

"Our first quarter results reflect continued progress in our business as consumers began to once again travel to their favorite leisure and gaming destinations," said Matt Maddox, CEO of Wynn Resorts, Limited. "Wynn Las Vegas showed continued strength in the casino segment, with the property remaining the destination of choice for high quality gaming customers, while forward bookings in the leisure segment improved throughout the quarter. Encore Boston Harbor again delivered record Adjusted Property EBITDA on the back of solid execution across the property. In Macau, we experienced continued gradual improvement in visitation trends driving particular strength in premium mass casino and luxury retail."

"We are also pleased to announce our intention to fuel the growth of WynnBET through a merger of Wynn Interactive with Austerlitz Acquisition Corp I. We are proud to join forces with Bill Foley as we continue to aggressively scale in online sports betting and iGaming. With WynnBET now live in six states, we will be launching enhanced product features and expanding our market position in 2021."

For earnings history and earnings-related data on Wynn Resorts Ltd (WYNN) click here.

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