Strong Earnings in Las Vegas Boost Wynn Resorts

Due to higher than expected earnings, shares of Wynn Resorts (NASDAQ: WYNN) are rising in aftermarket trading this evening. The Las Vegas casino resort operator announced a solid increase in profits for the 1st quarter of 2007 earlier in the day.

Wynn's quarterly revenue topped analyst predictions, according to a Thomson Financial poll of stock market experts, thanks to the opening of Wynn Macau in September and strong Wynn Las Vegas results.

"Shares of Wynn seemed to have peeked a few months ago at $110. The stock faltered recently, but now it seems poised to break through the 365-day high", noted one analyst.

Shares jumped $2.55, or 2.5% to $104.40, after declining 67 cents to end at $101.85 in the regular session. The company reported first quarter profits of nearly $60 million dollars, a number that beat Wall Street expectations.

Wynn owns and operates a casino-resort in Las Vegas, as well as Macau, China. As of late last year, Wynn Macau featured around 584 hotel rooms and suites, approximately 200 table games and approximately 380 progressive slots in about 100,000 square feet of casino gaming space, 7 restaurants, approximately 26,000 square feet of retail space, a spa and salon, entertainment lounges and meeting facilities.

May 7, 2007
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!

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