Wynn Resorts reports EPS in-line, misses on revs
* Reports Q3 (Sep) earnings of $0.86 per share, in-line with the Capital IQ Consensus of $0.86; revenues fell 27.3% year/year to $996 mln vs the $1.03 bln Capital IQ Consensus. Adj. property EBITDA was $279.9 million for the third quarter of 2015, a 39.0% decrease YoY.
- Macau: In Q3, net revenues were $585.1 million, a 37.9% decrease YoY. Adjusted property EBITDA in the third quarter of 2015 was $162.8 million, down 50.0% from $325.5 million in the third quarter of 2014.
- Vegas: For Q3, net revenues were $411.2 million, a 3.9% decrease YoY. Adjusted property EBITDA was $117.1 million, down 12.1% compared to the prior year.
* We expect to open our resort on Cotai in the first half of 2016.