Wynn Resorts said it expects revenue and operating income to fall at its Macau hotels and casinos during the fourth quarter, but it expects improvements at its Las Vegas resorts.
Shares of Wynn Resorts Ltd. rose $3.92, or 7.6 percent, to $55.42 in midday trading Friday.
Casino owners have been struggling with falling revenue in Macau. Wynn's business in the Chinese gambling enclave is important to the company: It accounted for more nearly 60 percent of its total revenue during the three months ending in September.
At its Macau operations, the company said it expects operating income between $75 million and $83 million in the quarter ending Dec. 31, down about 50 percent from the same period a year ago. It expects revenue to be between $552 million and $560 million, down about 27 percent from the previous year.
In Las Vegas, it expects operating income between $56 million and $64 million, up as much as 24 percent from the year before. It expects revenue between $387 million and $395 million, up as much as 5 percent from the year before.
The company, headquartered in Las Vegas, operates the Wynn and Encore resorts and casinos in Macau and Las Vegas. The company expects to open another Macau resort in June.