Inside Gaming: Winning Quarter for Wynn, the Sands Slide; British Bookies’ Merger Goes Forward

This week’s installment of Inside Gaming begins with a couple of quarterly earnings reports from two of the industry’s biggest players (one good and one not so good), moves on to report on the merger between two of the U.K.’s bookmakers being given the go-ahead, and also shares news of a federal judge blocking a new Massachusetts casino.

Wynn Resorts Enjoys Better Than Expected 2Q

On Thursday, Wynn Resorts Ltd. reported net income of $70.4 million for the second-quarter of 2016, exceeding the expectations of many prognosticators.

That income figure translates to around $1.07 per share for the company’s stockholders, notes the Associated Press. Meanwhile three Wall Street analysts asked by Zacks Investment Research had predicted an average estimate of $0.97 per share.

Total revenue for the 2Q was $1.06 billion for Wynn Resorts, also ahead of the analysts’ prediction of about $1.01 billion.

For more on Wynn’s favorable second quarter and its having exceeded expectations, go to the Associated Press.

Macau Slide Affects Las Vegas Sands Corp.

By contrast, the news from this week’s report from the Las Vegas Sands Corp. about their 2Q was less sanguine, as earnings for the company fell by 30% during the quarter.

According to The Wall Street Journal, total revenue fell 9.3% to $2.65 billion — worse than the analysts’ estimates — with the ongoing slide in Macau affecting the company greatly thanks to its significant exposure in the Special Administrative Region.

The Las Vegas Sands’ Macau sites all showed significant declines, including the world’s largest casino, the Venetian Macao, suffering a 9.9% revenue decrease during the quarter. Meanwhile its Las Vegas-based operations were up 3% in revenue for the quarter, with the Sands Bethlehem in Pennsylvania also up by 6.5%.

Looking ahead, before the next quarter is done the Sands will be introducing a new property in Macau when The Parisian opens on the Cotai Strip. Complete with a half-scale Eiffel Tower, the new property — the construction of which began …

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