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Wynn Resorts Sales Miss Estimates After Macau Palace Opening

  • Revenue from Macau fell 12 percent from year-earlier quarter
  • Shares drop as much as 5.7 percent in after-hours trading

Wynn Resorts Ltd., the casino company founded by billionaire Steve Wynn, posted third-quarter sales that missed analysts’ estimates as its new $4.4 billion resort in Macau failed to lift its betting revenue there.

Total revenue for the Las Vegas-based company rose 11 percent to $1.11 billion, according to a statement Wednesday. That missed the $1.12 billion average of estimates compiled by Bloomberg. Wynn shares slid as much as 5.7 percent in late trading to $91.

While Macau, the only place in China where casinos are legal, has registered three months of growth in gambling revenue...