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LAS VEGAS (AP) _ Casino operator Wynn Resorts says its first-quarter profit fell 20 percent on an increase in operating costs.
The Las Vegas-based company says it earned $46.7 million, or 41 cents per share, compared with $58.4 million, or 54 cents per share, in the year-ago period. Excluding items, Wynn says its income was 69 cents per share, compared with 67 cents per share in last year’s first quarter.
Sales were up to $778.7 million from $635.3 million.
Analysts expected earnings of 70 cents per share on sales of $734.4 million.
Wynn says the revenue increase was primarily driven by sales at its Wynn Macau property.
The company says operating costs rose 30 percent to $688.1 million.
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