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Monday, July 29, 2013

Earning Alert- Wynn Resorts (WYNN) falls after missing estimates 7/29/13

Wynn Resorts (WYNN) missed estimates as revenue increased 16.2% for Las Vegas operations, but improved only 2.6% revenue from Macau operations. In Macau the mass market segment performed stronger on a year-over-year comparison than the VIP segment. EBITDA margin improved dramatically in Las Vegas on broad service, room, and gaming revenue increases. The company invested $113M in its high-profile Cotai project during Q2. (PR) WYNN -1.6% premarket.
  
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