Wynn Resorts Ltd. (NASDAQ: WYNN) reported second-quarter 2013 results before markets opened this morning. The casino and resort operator posted adjusted diluted earnings per share (EPS) of $1.51 on revenues of $1.33 billion. In the same period a year ago, the company reported EPS of $1.38 on revenues of $1.25 billion. Second-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.57 and $1.34 billion in revenues.
On a GAAP basis, Wynn reported quarterly diluted EPS of $1.28.
Wynn’s revenues rose 2.6% in Macau, to nearly $931 million. In the company’s Macau VIP segment, table games turnover was down 1.6% to $29.9 billion, and the company’s win on those wagers was 2.94%, within the expected range of 2.7% to 3%. The company’s win in its Macau mass market table games rose 8.5%
Las Vegas revenues rose more than 16%, but Las Vegas revenues account for just 30% of the company’s total. EBITDA in Las Vegas was up nearly 66% year-over-year and EBITDA margin rose nearly 34%.
Wynn did not offer guidance in its earnings release, but the consensus estimate for the third quarter calls for EPS of $1.57 on revenues of $1.34 billion. For the full year, the consensus estimate calls for EPS of $6.66 and revenues of $5.41 billion.
Shares are trading down about 1.5% at $129.00 in the premarket, in a 52-week range of $92.56 to $144.99. Thomson Reuters had a consensus analyst price target of around $149.40 before today’s report.
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