Wynn Resorts Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Wynn Resorts, Limited (WYNN) reported third-quarter net income attributable to the company of $191.4 million, or $1.88 per share, compared to $182.0 million, or $1.79 per share, in the third quarter of 2013. Adjusted net income attributable to Wynn Resorts was $199.2 million, or $1.95 per share.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.84 for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $1.37 billion, compared to $1.39 billion in the third quarter of 2013. The company said the decline was the result of a 5.6% net revenue decrease from Macau Operations, partially offset by a 9.0% increase in net revenues from Las Vegas Operations. Analysts expected revenue of $1.37 billion for the quarter.

Adjusted property EBITDA was $458.8 million for the third quarter of 2014, a 5.3% increase from $435.6 million in the third quarter of 2013.

Wynn also announced that the company has approved a new quarterly cash dividend of $1.50 per common share, a 20% increase from its previous regular dividend. The company has also approved an additional cash dividend of $1.00 per share. The total dividend of $2.50 per share will be payable on November 25, 2014, to stockholders of record on November 12, 2014.