Actionable news
All posts from Actionable news
Actionable news in WYNN: Wynn Resorts, Limited,

Wynn Swings to a Quarterly Loss on Macau Weakness

Shutterstock photo

Wynn Resorts Ltd. swung to a third-quarter loss, in part tied to the opening of its latest casino in Macau, dragged down by its operations in the Chinese semiautonomous territory.

Meanwhile, Wynn President Matthew O. Maddox said in a conference call with analysts that "there seems to be momentum" about building a casino in Japan, a much-discussed possibility that has failed to gain traction over economic concerns and political turnover.

Shares, up 40% this year, fell 6% to $90.96 in after-hours trading.

Still, Las Vegas-based Wynn said Wednesday that net revenue from its Macau operations fell 11.5%...