Wynn Resorts (WYNN) fell 1.7% after missing analysts’ first quarter earnings expectations.
Wynn posted $1.33 of EPS, 7 cents below expectations. Revenue of $1.31 billion came up short of expectations for $1.34 billion. Although overall revenue rose year over year, Vegas results lagged.
“The revenue increase was driven by the 9.8% increase in revenues from our Macau Operations, which was offset by an 8.1% decline in our revenues in Las Vegas, due to lower hold in the 2012 quarter.”
Vegas casino revenues fell 19%. Non-casino revenues rose 1.3%.
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