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Article: Macau success lifts Wynn Resorts' quarter.
- Article from:
- Las Vegas Review-Journal (Las Vegas, NV)
- Article date:
- May 8, 2007
CopyrightCOPYRIGHT 2007 Las Vegas Review-Journal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Howard Stutz
May 8--Although quarterly earnings for Wynn Resorts Ltd. reversed a year-earlier loss, company Chairman Steve Wynn lectured investors Monday on how Las Vegas history might be used to carefully judge the growth of gambling in Macau.
Booming business at Wynn Las Vegas and Wynn Macau drove the company's results for the first quarter ended March 31, fueling boosts in both profits and revenue.
Wynn Resorts posted net income of $58.4 million, or 54 cents per share in the quarter. Without certain adjustments, the company would have reported net income of $72.6 million or 67 cents per share. A year ago, Wynn Resorts lost $11.4 ...