Wynn Resorts Beats Q3 Profit Views

posted a third-quarter decline in profits and revenue Tuesday, but gave investors some added dividend news. Profits beat expectations and Wynn changed hands recently after hours at $192.38 a share, up nearly 4 percent. Las Vegas-based Wynn boosted its regular quarterly dividend 20 percent to $1.50 a share and declared a separate, one-time dividend of $1 a share. Both are payable Nov. 25. Wynn, which didn't offer an outlook, said net revenue fell 5.6 percent at its Macau operations to $942.3 million and grew 9 percent at its Las Vegas operations to $427.8 million. In the recent period, Wynn invested $301.1 million in its Wynn Palace construction project in the Cotai area of Macau, taking the total investment to date to $1.4 billion. The project is expected to open in the first half of 2016 at a cost of $4.1 billion. Wynn posted third-quarter net income of $191.4 million, or $1.88 a share, down from $182 million, or $1.79 a share, in the year-earlier period. Adjusted income rose to $1.95 as share, from $1.84 a year earlier. Net revenue fell 1.4 percent to $1.37 billion, from $1.39 billion in the third quarter of 2013. Wall Street expected adjusted income of 1.84 a share on revenue of $1.37 billion.