Wynn Resorts (NASDAQ:WYNN) stock is up in the premarket after its North America and Macau resorts helped the company swing to a profit.
The casino operator, after hours Wednesday, posted a second-quarter profit of $105.2 million compared to a loss of $130.1 million a year earlier. Adjusted earnings came to $0.91 per share, above Street expectations of $0.64.
Revenue climbed to $1.6 billion from $908.8 million a year ago, topping analyst projections of $1.54 billion.
"Our second-quarter results reflect continued strength in North America and Macau," CEO Craig Billings said in a statement. "In the US, Wynn Las Vegas and Encore Boston Harbor continue to perform well.”
He continued, “In Macau, the post-COVID recovery accelerated during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses. On the development front, we were excited to begin construction on Wynn Al Marjan Island, which we believe will be a 'must see' tourism destination in the UAE."
Shares of Wynn Resorts (NASDAQ:WYNN) were up 1.5% in premarket trading to $88.80.
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