Wednesday, April 20, 2011

Wynn (WYNN) Pulls Up (LVS) (MGM) (MPEL) (BYD) on Big Earnings Beat

Wynn (NASDAQ:WYNN) gave a boost to competitors Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International (NYSE:MGM), Melco Crown Entertainment Ltd (NASDAQ:MPEL) and Boyd Gaming Corporation (NYSE:BYD) after hours as it handily beat analysts' expectations.

Net income for Wynn soared to $226.3 million,or $1.38 a share, versus $27 million, or 22 cents a share in the same quarter last year.

Revenue surged to $1.26 billion, a 38.7 jump year-over-year.

Adjusting for one-time items, Wynn earned $1.38 a share, wildly beating the average analyst forecast of 74 cents per share.

Macau continues to be the main revenue and earnings generator in the gaming sector for those with exposure there.

Boyd Gaming Corporation was trading after hours at $8.95, up $0.17, or 1.94 percent. Melco was at $9.88, up $0.16, or 1.65 percent. MGM was trading after hours at $13.54, gaining $0.24, or 1.81 percent. Las Vegas Sands was trading after close at $45.95, rising $0.75, or 1.66 percent. Wynn Resorts closed Tuesday at $138.93, losing $1.57, or 1.12 percent. After hours it jumped to $143.00, soaring $4.07, or 2.93 percent.

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