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Article: Wynn Resorts posts wider-than-expected 1Q loss
- Article from:
- AP Online
- Article date:
- May 5, 2009
- Author:
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Casino operator Wynn Resorts Ltd. reported a wider first-quarter loss than Wall Street expected on Tuesday after opening a new casino resort on the struggling Las Vegas Strip and seeing revenue slip at its property in Macau.
And while rival MGM Mirage told investors Monday that the Las Vegas market may have turned a corner, Wynn's chairman and chief executive, billionaire Steve Wynn, was more cautious.
"I think that the economy is bouncing around," Wynn said during a conference call with investors. He noted that some metrics _ like occupancy and the booking window _ have been stronger in Las Vegas in recent weeks.
Investors, however, were more optimistic, sending ...