{"id":55386,"date":"2017-07-26T15:00:08","date_gmt":"2017-07-26T22:00:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=55386"},"modified":"2017-07-26T15:16:04","modified_gmt":"2017-07-26T22:16:04","slug":"wynn-resorts-strong-performance-not-strong-enough-investors","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/","title":{"rendered":"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors"},"content":{"rendered":"

Strong performances for Wynn Resorts<\/a> in Macau and Las Vegas boosted the firm\u2019s Q2 revenues beyond analysts\u2019 expectations, but profits fell just short of projections.<\/p>\n

\"Steve
Steve Wynn attributed Wynn Palace lower-than-expected profits to the construction boom in Macau that has restricted mass market access. The casino remained upbeat at an earnings call Wednesday. (Image: AP)<\/figcaption><\/figure>\n

In an earnings call Wednesday, Wynn Resorts said revenue was $1.53 billion for the quarter, beating the $1.45 billion predicted by a survey of 13 Wall Street specialists. Meanwhile, profit rose to $1.18 a share, missing the $1.19 per-share average of analysts\u2019\u00a0estimates.<\/p>\n

Despite an upbeat outlook from Wynn Resorts execs on Wednesday, including Steve Wynn himself, shares fell in extended trading after the results were announced.<\/p>\n

This was largely based on the disappointing performance of the new Wynn Palace Macau<\/a>. Despite generating $414.7 million in revenues and $87.4 million in profits, it was tipped to do better.<\/p>\n

Wynn\u2019s Macau performance was widely expected to be strong in a market where industry revenue as a whole rose 22 percent in the second quarter, but it was a case of \u201cnot strong enough\u201d for investors. It exemplifies just how crucial Wynn Palace is to the company\u2019s future profits and cash flow.<\/p>\n

Unprecedented Obstacles<\/strong><\/h2>\n

But the property has been dealing with a \u201csevere handicap,\u201d according to Wynn, namely a construction boom in Macau that has thrown up some \u201crather unique and unprecedented obstacles.\u201d<\/p>\n

Wynn Palace is surrounded by construction sites on all sides, which has cut walk-in traffic. The recent death of a construction worker at the Grand Lisboa Palace, the project being built next door to Wynn\u2019s, meanwhile, has shut construction down for three weeks but is still restricting footfall.<\/p>\n

Wynn announced that a moving pedestrian bridge accessing the property could open with in four weeks.<\/p>\n

\u201cThe completion of (the bridge) will not only be the removal of a negative, but the addition of a positive for the mass market,\u201d Wynn said. \u201cThe mass market is really affected by the physicality of the neighborhood because the mass market has a lot to do with access.\u201d<\/strong><\/p><\/blockquote>\n

Paradise Park Takes Shape<\/strong><\/h2>\n

Wynn spoke enthusiastically of plans for the company\u2019s new $1.5 billion Las Vegas project, Paradise Park, which is scheduled to break ground later this year, or in early 2018.<\/p>\n

Designers were adding \u201cfinal touches\u201d to plans for the project, which will include a 38-acre lagoon hosting water sports surrounded by white-sand beaches, a convention facility and new hotel rooms. It will be built on the site of the Wynn Golf Club, just off the Strip.<\/p>\n

\u201cThat area is the most precious piece of real estate in the whole resort industry in Las Vegas,\u201d Wynn said. \u201cThe conversations I\u2019ve had have been very exciting and gives me a lot of optimism about how we will continue over the next four to five years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Strong performances for Wynn Resorts in Macau and Las Vegas boosted the firm\u2019s Q2 revenues beyond analysts\u2019 expectations, but profits fell just short of projections. In an earnings call Wednesday, Wynn Resorts said revenue was $1.53 billion for the quarter, beating the $1.45 billion predicted by a survey of 13 Wall Street specialists. Meanwhile, profit […]<\/p>\n","protected":false},"author":42,"featured_media":55389,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nWynn Resorts\u2019 Strong Performance Not Strong Enough for Investors<\/title>\n<meta name=\"description\" content=\"Wynn Resorts stock falls despite better-than-expected Q3 revenues, due to disappointing results from the new Wynn Palace.\u00a0\u00a0\u00a0\u00a0\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors\" \/>\n<meta property=\"og:description\" content=\"Wynn Resorts stock falls despite better-than-expected Q3 revenues, due to disappointing results from the new Wynn Palace.\u00a0\u00a0\u00a0\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-26T22:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-07-26T22:16:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"625\" \/>\n\t<meta property=\"og:image:height\" content=\"396\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/\",\"name\":\"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg\",\"datePublished\":\"2017-07-26T22:00:08+00:00\",\"dateModified\":\"2017-07-26T22:16:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Wynn Resorts stock falls despite better-than-expected Q3 revenues, due to disappointing results from the new Wynn Palace.\u00a0\u00a0\u00a0\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg\",\"width\":625,\"height\":396,\"caption\":\"Steve Wynn attributed Wynn Palace lower-than-expected profits to the construction boom in Macau that has restricted mass market access. The casino remained upbeat at an earnings call Wednesday. (Image: AP)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors","description":"Wynn Resorts stock falls despite better-than-expected Q3 revenues, due to disappointing results from the new Wynn Palace.\u00a0\u00a0\u00a0\u00a0","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors","og_description":"Wynn Resorts stock falls despite better-than-expected Q3 revenues, due to disappointing results from the new Wynn Palace.\u00a0\u00a0\u00a0\u00a0","og_url":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2017-07-26T22:00:08+00:00","article_modified_time":"2017-07-26T22:16:04+00:00","og_image":[{"width":625,"height":396,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/","url":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/","name":"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg","datePublished":"2017-07-26T22:00:08+00:00","dateModified":"2017-07-26T22:16:04+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"Wynn Resorts stock falls despite better-than-expected Q3 revenues, due to disappointing results from the new Wynn Palace.\u00a0\u00a0\u00a0\u00a0","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/Steve-Wynn-2.jpg","width":625,"height":396,"caption":"Steve Wynn attributed Wynn Palace lower-than-expected profits to the construction boom in Macau that has restricted mass market access. The casino remained upbeat at an earnings call Wednesday. (Image: AP)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/wynn-resorts-strong-performance-not-strong-enough-investors\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/55386"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=55386"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/55386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/55389"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=55386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=55386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=55386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}