Wynn Resorts Reports 4Q Loss of $159.6 Million

Feb 25, 2009 2:46 AM
Staff & Wire Reports |

Casino operator Wynn Resorts Ltd. says it lost $159.6 million in the fourth quarter of 2008 after paying $98.8 million in taxes.

The loss Wynn reported after the market closed Tuesday compares with net income of $65.5 million in the fourth quarter of 2007.

Wynn said it lost $1.49 per basic share during the last three months of 2008 compared with income of 58 cents per share a year earlier.

For the full year, the Las Vegas-based company says its net income was $210.2 million, or $1.94 per basic share, compared with $258.1 million, or $2.43 per share in 2007.

Wynn says its gambling revenue for 2008 was $479.7 million, 25.3 percent less than in 2007. Non-gambling revenue was $776.3 million in 2008, down 3.7 percent from 2007.

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