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Wynn Resorts Reports Q4 Earnings Miss

Tanzeel Akhtar

Wynn Resorts (NASDAQ: WYNN) reported fourth-quarter losses of 62 cents per share on Thursday. This is a decrease from earnings of 95 cents per share in the same period last year.

The company reported quarterly sales of $1.653 billion, which missed the analyst consensus estimate of $1.71 billion. This is a 2.07% decrease over sales of $1.688 billion the same period last year.

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In November, the company launched key portions of the new Lakeside Casino at Wynn Macau. In Las Vegas, the construction of the 430,000 square foot meeting and convention expansion is complete and the company is gearing up to welcome its first groups to the new space.

"We delivered solid financial results in the fourth quarter of 2019, growing adjusted property EBITDA nearly 12% sequentially compared to the third-quarter," said CEO Matt Maddox.

Wynn Resorts shares were trading down 2% in the after-hours session. The stock has a 52-week high of $153.41 and a 52-week low of $102.03.

Correction: A previous version of this article said Wynn reported losses of 95 cents in the same period last year.

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