Revenues up at Wynn Resorts

7 April 2011

LAS VEGAS, Nevada -- Wynn Resorts Ltd., owner of the Wynn Las Vegas and properties in Macau, saw its revenue estimates revised upward Wednesday. This time the company's upgrade was based on the strength of its Las Vegas business.

"We are again revising our Las Vegas estimates for Wynn based in impressive citywide convention numbers, a record Chinese New Year and better hotel metrics accented with resounding anecdotes or property specific strength during the quarter," Union Gaming Group analyst Bill Lerner said in a research report.

Las Vegas revenues for the first quarter were estimated at $349.7 million, up from $331.8 million. For 2011 revenues were forecast to reach $1.37 billion, up slightly from a previous estimate of $1.3 billion.

In his research report, Lerner attributed the upgrade mostly to strength in the city's convention business this year. In a fourth quarter conference call, Wynn Resorts executives indicated convention would represent 20 percent to 22 percent of all bookings.

In January, Las Vegas convention attendance was 433,390, 3 percent better than anticipated and 5.5 percent better on an adjusted basis, Lerner said.

Shares of Wynn Resorts were up 33 cents, or 0.25 percent, to $133.47 in midday trading on the Nasdaq. Over the last 52-weeks, Wynn Resort shares have traded at a low of $71.00 and reached a high of $137.10.

Related Links
Union Gaming Group Gaming Vendor Information
Wynn Las Vegas Details


Copyright GamingWire. All rights reserved.
Featured Vendors
Oklahoma Indian Gaming Association (OIGA) Conference
Talisman Group Creators of EZ Baccarat
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: August 12-14, 2024 Oklahoma City
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
Betson Imperial Parts & Service
Global Gaming Expo (G2E)
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Imagine This
Casino Schedule Ease
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
Casino Schedule Ease
Full Featured & customizable for the complex scheduling needs of table games & other casino depts
Dable Advisory & Consulting Services
Top One Tech Limited
Dable Advisory & Consulting Services
Advisory & consulting services services for Indigenous entrepreneurs, businesses & organizations
Top One Tech Limited
Global Touch solution partner of choice, 10+ years OEM manufacturing, 100,000+ units application
Shenzhen ZhengYuanTai Technology Co., Ltd.
Sunkist Graphics, Inc.
Shenzhen ZhengYuanTai Technology Co., Ltd.
14 years experienced gaming display manufacturer: open frame, curved, and halo monitors
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Regulatory Management Counselors, PC
Indian Gaming Association's Mid-Year Conference & Expo
Regulatory Management Counselors, PC
Over 45 years of experience serving the legal and regulatory needs of casino industry clients
Indian Gaming Association's Mid-Year Conference & Expo
The perfect combination of learning, networking & sharing ideas on today's hottest topics in gaming
AmericanChecked
Rymax Marketing Services, Inc.
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Texas Slots & Gaming
TribalHub
Texas Slots & Gaming
Wholesale gaming reimagined. Texas Slots & Gaming is your sustainable gaming partner.
TribalHub
25th Annual TribalNet Conference Sept 16-19, 2024 Westgate Las Vegas
Slot Machines Unlimited
Players Pal
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Players Pal
Revolutionize the way you connect with your casino players with the Players Pal mobile app
Casino City Press
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.


Your Guide to 14,960 Gaming Industry Suppliers