Wynn Resorts Dips on Q4 Results
February 02, 2012 5:08 PM
Shares of Wynn Resorts (NASDAQ: WYNN) are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 1.92%, trading at $118.46; they ended the regular session higher by 2.57%, at $120.78.
Wynn Resorts reported Q4 EPS of $1.55 on revenues of $1.34 billion; revenues increased 8.6% year over year. The revenue increase was driven by a 9.1% increase in revenues from our Macau Operations and a 7.2% revenue increase from our Las Vegas Operations.
Las Vegas room revenues were up 11.7% to $85.3 million during the quarter, versus $76.4 million in the fourth quarter of 2010. Average Daily Rate was up 6.3% to $250 while occupancy of 79.1% was below the 81.8% experienced in the fourth quarter of 2010.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The company owns and operates two destination casino resorts.
