Wynn to announce earnings two weeks early


Wynn Resorts Ltd. announced today it would release its financial results for the fourth quarter and year ended Dec. 31 on Thursday. The decision to move up the release date by two weeks sent Wynn shares higher by almost 3 percent in early morning trading.

The casino operator with properties in Las Vegas and Macau did not disclose a reason for the change.

Wynn also plans to build a second Macau casino on 52-acres on the Cotai Strip.

"We expect Wynn to report a strong fourth quarter, as we estimate (earnings) of $193 million and earnings per share of 44 cents at the high end of the company's previous guidance," said Joseph Greff, an analysts with J.P. Morgan in a note to clients.

Shares of Wynn were up $3.19, or 2.70 percent, in mid-day trading to $121.20 on the Nasdaq stock market. Wynn shares set a new 52-week high Tuesday reaching $122.89 a share moments after the opening bell.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.

 

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