LAS VEGAS – Wynn Resorts Ltd. says the casino company's profit fell 72 percent in the second quarter from last year to $56.5 million, stymied by an on-going decline in the Asian gambling enclave of Macau and fewer high-roller Chinese baccarat players in Las Vegas.
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CEO Steve Wynn said Wednesday during an investor conference call that Macau remains more of a question than a certainty while business in Las Vegas is comfortable.
On a per-share basis, the Las Vegas company earned 56 cents compared to $2 during the three-month period a year ago. Adjusted earnings per share totaled 74 cents. The company's second-quarter revenue fell to $1.04 billion from $1.4 billion in 2014, falling short of analyst expectations.
A FactSet survey forecast $1.07 billion of revenue and earnings per share of 96 cents.