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Wynn 3Q profit drops as gamblers spend less

Wynn 3Q profit drops as gamblers spend less

Casino operator Wynn Resorts says its profit fell for the second consecutive quarter as customers continued to gamble less and expenses rose.
The company run by billionaire Steve Wynn says net income fell 33 percent to $34.2 million, or 28 cents per share, for the period ended Sept. 30.
Wynn, which raised $1.63 billion earlier this month with an initial public offering on the Hong Kong Stock Exchange, says revenue edged up 1 percent to $773.1 million.
Excluding property charges and other items, profit was 33 cents per share.
Analysts forecast a profit of 15 cents per share on revenue of $743.1 million.


Updated : 2021-04-12 00:41 GMT+08:00