Wynn Resorts Shares Surge on Vegas Growth, Macau Stabilization
- Casino shares surge in Hong Kong, led by Wynn’s China unit
- January was Macau unit's ‘best month in a long time’: Wynn
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Wynn Resorts Ltd. shares jumped after fourth-quarter earnings beat analysts’ estimates, with revenue growth in Las Vegas partially offsetting a decline in the Macau business.
Earnings excluding some items fell to $1.03 a share, the Las Vegas-based company said Thursday in a statement, compared with the 76-cent average of estimates compiled by Bloomberg. January was the Macau business’s “best month in a long time,” billionaire founder Steve Wynn said in a post-earnings conference call.