Wynn Resorts Ltd (WYNN) Misses Q4 EPS by 22c, Revenues Miss

Wynn Resorts Ltd (NASDAQ: WYNN) reported Q4 EPS of ($2.53), $0.22 worse than the analyst estimate of ($2.31). Revenue for the quarter came in at $686 million versus the consensus estimate of $722.3 million.

"We are encouraged by the progress we have made at each of our properties over the past several months, as we continue along the road to recovery from the pandemic," said Matt Maddox, CEO of Wynn Resorts, Limited. "In Macau, the gradual and thoughtful easing of visitation restrictions allowed us to return to Adjusted Property EBITDA profitability in the fourth quarter, with particular strength in our premium mass business. In the US, our operations at both Wynn Las Vegas and Encore Boston Harbor were resilient as we continue to deliver our industry-leading service, while remaining focused on costs. On the development front, our WynnBet online casino and sports betting app is currently available in three states following successful launches in Colorado and Michigan, with additional launches planned over the coming months. We believe our product will be increasingly compelling with each release over the coming months and look forward to growing the business in 2021."

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