Wynn Resorts Has Big Third Quarter Numbers And Eyes Casino Expansion

Wynn Resorts now holds casinos in both Macau and Las Vegas, the Worlds two biggest gambling destinations, and as the third quarter numbers were released, the company has said it is eyeing expansion in both markets.

Adjusted earnings were reported at $73.4 million and 67 cents a share, that is in comparison to last years numbers which were 1 cent a share and a $1.3 million loss.

Wynn holds a casino in Las Vegas but is set to expand as they are building the Encore at Wynn Las Vegas. It is a $2.2 billion project and the target date for it to be open is in 2009.

In Macau, the company has said that they are planning to add slots and table games to their existing property, and that should be complete in the next three months.

The existing property is not the only one that the company is hoping for in Macau as they have also put in an application to try and secure 52 acres of land for a future casino resort.

The expectations of Wynn Macau were that their initial earnings would be around $84 million, but the property actually came in at $92.8 million.

October 30, 2007
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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