Wynn misses third-quarter profit, revenue estimates on weak Las Vegas business
Wednesday 06 de November 2024 / 12:00
⏱ 2 min read
(Las Vegas).- Wynn Resorts opens new tab posted quarterly profit and revenue below Wall Street expectations on Monday, due to sluggish casino business in Las Vegas, sending its shares down 2.8% in extended trading.
Wynn Resorts (WYNN.O), opens new tab posted quarterly profit and revenue below Wall Street expectations on Monday, due to sluggish casino business in Las Vegas, sending its shares down 2.8% in extended trading.
Revenue from its Las Vegas operations declined by 1.9% to $607.17 million, mainly due to a 13.6% year-over-year dip in casino revenue. This was partially offset by a 20% rise in entertainment, retail and other sales.
Last week, rival MGM Resorts (MGM.N), opens new tab also posted weak sales from its Vegas casinos, attributing the decline to a loss of "high-end bulk business" in the third quarter.
"The timing of the trips from these largest customers is not, of course, our choice and so some of that just didn't fall in this third quarter as we would have expected it to," MGM said during its post-earnings call last week.
Wynn's total revenue for the third quarter came in at $1.69 billion, compared with analysts' average estimate of $1.73 billion, according to data compiled by LSEG.
The company reported a lower-than-expected quarterly adjusted profit per share of 90 cents, missing Wall Street's projected earnings of $1.10.
Last week, rival MGM Resorts (MGM.N), opens new tab also posted weak sales from its Vegas casinos, attributing the decline to a loss of "high-end bulk business" in the third quarter.
"The timing of the trips from these largest customers is not, of course, our choice and so some of that just didn't fall in this third quarter as we would have expected it to," MGM said during its post-earnings call last week.
Wynn's total revenue for the third quarter came in at $1.69 billion, compared with analysts' average estimate of $1.73 billion, according to data compiled by LSEG.
The company reported a lower-than-expected quarterly adjusted profit per share of 90 cents, missing Wall Street's projected earnings of $1.10.
Categoría:Casino
Tags: Sin tags
País: United States
Región: North America
Event
AffPapa Conference Madrid 2026
18 de May 2026
AffPapa Conference Madrid 2026: “The Next Generation Doesn’t See a Border Between Gaming and Entertainment”
(Madrid, SoloAzar Exclusive).- At the AffPapa Conference Madrid 2026, industry executives and product specialists gathered for the panel “Gen Z & Gen Alpha: Designing Products For the Next Player Generation,” a discussion focused on changing player behavior, digital habits, gamification, prediction markets, and the future of iGaming products. Moderated by Thomas Carvalhaes, the session featured insights from Filip Koubek, Natalia Roitonen, Laura Gago, Henk Wolff, and Artak Ashkhatoyan. Throughout the conversation, speakers debated how younger audiences interact with gambling-related products and why operators must rethink product design, engagement, and responsible gaming strategies.
Tuesday 26 May 2026 / 12:00
Amusnet Achieves Major Industry Recognition at AffPapa Awards 2026
(Sofia).- Amusnet has achieved an important award at the AffPapa iGaming Awards 2026, achieving one of the industry's top recognitions that celebrates excellence in the global iGaming sector.
Monday 25 May 2026 / 12:00
AffPapa Conference Madrid: Mexico’s iGaming Market Still Has “A Long Way to Go”
(Madrid, SoloAzar Exclusive).- At the second day of the AffPapa Conference Madrid 2026, industry executives gathered for the panel “Mexico: Reaching Market Maturity, or More to Go?” to analyze the current state of the Mexican gambling sector ahead of the upcoming FIFA World Cup. Moderated by Samantha Asensi, the discussion featured insights from Rosa Ochoa, Carlos Sánchez, Lucas Lebleu, Ruben Guillem, and Aviv Sher. The panel explored market growth, regulation, affiliate dynamics, player behavior, and the commercial opportunities surrounding the World Cup.
Friday 22 May 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
