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LAS VEGAS - Wynn Resorts Ltd (NASDAQ:WYNN) shares gained 4.3% in after-hours trading on Thursday after the casino operator reported fourth-quarter earnings and revenue that beat analyst expectations.
The company posted adjusted earnings per share of $2.42, significantly above the $1.33 consensus estimate. Revenue came in at $1.84 billion, topping expectations of $1.78 billion.
"Our fourth quarter and full year results reflect continued strength throughout our business, setting another full-year record for Adjusted Property EBITDAR for the Company in 2024, with another annual record in Las Vegas," said CEO Craig Billings.
Wynn Palace in Macau saw operating revenues increase 7.4% year-over-year to $562.9 million. However, Wynn Macau (OTC:WYNMF) revenues declined 5.8% to $363.7 million.
Las Vegas operations revenue edged up 0.4% to $699.5 million, while Encore Boston Harbor revenue dipped 2.1% to $212.7 million.
The company repurchased 2.14 million shares for $200.3 million during the quarter. For the full year 2024, Wynn bought back 4.35 million shares for $386 million.
Wynn also declared a quarterly cash dividend of $0.25 per share, payable on March 5, 2025.
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