Oct 27 · 10:52:00 AM · Source: Company News Release

Wynn Resorts today reported a drop in third-quarter profit Tuesday as the global economic downturn continued to pinch its operations in both Las Vegas and Macau, though the casino operator still managed to top Wall Street expectations on both the top and bottom lines. Wynn Resorts said today it earned $34.2 million, or 28 cents a share, in the third quarter period, down from $51.2 million, or 49 cents, in the same quarter of 2008. Revenue for the quarter came in at $773.1 million, up slightly from $769.2 million in the third quarter of 2008 as it got a bounce from the opening of its Encore in Las Vegas late last year.

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by Larry Etter