Wynn Macau Q1 Revenue Declines

reported a 38 percent drop in its net revenue for the first quarter. Wynn Macau's quarterly net revenue slipped to $705.4 million, compared to $1.13 billion, in the year-ago period. Its casino revenue shrank by $406.5 million in the quarter. The company's adjusted property EBITDA declined 45 percent to $212.3 million. Wynn Macau shares rose 0.73 percent to close at $20.79 on Friday.