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Macau driving force behind Wynn Resorts impressive first quarter earnings

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Wynn Resorts, Limited (NASDAQ:WYNN) shares are climbing higher in the early session after the casino resorts operator reported first quarter earnings that beat estimates. The resort reported adjusted earnings of $2.32 per share, which was 25 cents above estimates. Revenue was strong across all segments as it also handily beat estimates. For example, revenue in the quarter came in at $1.51 billion, while the consensus estimates for revenue was $1.49 billion. Wynn’s Macau operations also yielded phenomena first quarter results. The Macau segment saw revenue increased by 14 percent to $1.13 billion. In addition, occupancy rates and average daily fees were all up.