Wynn Macau 1st-Quarter Net Profit Up 66% At US$189.66 Million
April 19 2011 - 8:28PM
Dow Jones News
Wynn Macau Ltd. (1128.HK) said Wednesday its first-quarter net
profit rose 66% from a year earlier as gambling revenue in the
Chinese territory continued to soar.
The casino operator, which listed in Hong Kong in October 2009,
said its net profit for the three months ended March 31 was $189.66
million, up from $114.27 million a year earlier, according to
international financial reporting standards.
Operating revenue rose 47% to $865.68 million in the first
quarter from $590.65 million a year earlier. The company didn't
recommend a dividend.
The company in November recommended a dividend for the first
time. It declared a special dividend of $0.76 per share and said it
would consider paying recurring dividends with a target yield of
1%-3% per year.
Parent company Wynn Resorts Ltd. (WYNN) reported a profit of
$173.8 million, up from $27.0 million a year earlier and approved a
cash dividend of $0.50 per common share. Net revenue rose 39% to
$1.26 billion.
-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002;
kathryn.okeeffe@dowjones.com
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