The Wynn Macau Ltd. casino faces competition from Sands China Ltd. and other operators as gambling surges in the area.
(Jerome Favre/Bloomberg/File 2011)
MARKET MOVERS
Wynn’s Macau unit falls short over year
The Wynn Macau Ltd. casino faces competition from Sands China Ltd. and other operators as gambling surges in the area.
(Jerome Favre/Bloomberg/File 2011)
February 4, 2012
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Wynn Resorts Ltd. fell after its Hong Kong Wynn Macau unit’s profit missed full-year estimates as the casino company benefited less than rivals. Wynn Macau’s fourth-quarter net income gained 15 percent to $239.9 million from $208.8 million a year earlier, Wynn said. Full-year profit, however, was $759.8 million, lower than analyst estimates of $795.3 million. Fourth-quarter sales rose to $995.5 million.
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