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Wynn Resorts Reports First Quarter Loss

Wynn Resorts reported a first-quarter loss Tuesday. 

Its bottom line was pulled down by a nearly $465 million charge linked to a legal settlement.

The company still beat Wall Street's profit expectations, boosted by its gambling business in Macau.

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First-quarter revenue jumped at both of the company's casinos in the Chinese enclave, where regulators have been inquiring about the sexual misconduct allegations that forced the ouster of CEO Steve Wynn.

Overall, the company’s revenue rose 21 percent to $1.72 billion.