Las Vegas Operations To Hurt Wynn Resorts (WYNN) Q4 Earnings
Zacks Investment Research | Jan 22, 2019 08:34PM ET
Wynn Resorts, Limited (NASDAQ:WYNN) is scheduled to report fourth-quarter 2018 earnings on Jan 30, after the closing bell.
We expect increased contributions from non-gaming revenues, coupled with expansion in the domestic market, to have driven growth in the to-be-reported quarter. However, revenue growth in the quarter may have been negatively impacted by a slowdown in the company’s Las Vegas operations. Further, margin contraction in the domestic operations is likely to have affected earnings in the fourth quarter.
Nevertheless, the company has been deriving a solid share of revenues from Macau resorts. Gambling revenues from Macau surged 16.6% in December and surpassed the Zacks Consensus Estimate, which is likely to benefit the company in the quarter under review.
Subsequently, shares of Wynn Resorts have displayed some resilience of late. After losing 44.2% in the past year, the stock has increased 12.7% in the past three months, outperforming the Zacks Investment Research
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