Cost controls help Wynn Resorts beat Wall Street estimates

Wynn Resorts posted a first-quarter profit that handily beat Wall Street expectations as operating margins got a boost from a drop in general and administrative expenses and entertainment and retail costs.

Wynn’s Macau casino operations, which account for more than 70 per cent of the company’s total revenue, also showed an improvement after underperforming in recent quarters.

Revenue from Macau rose 4.4 per cent to US$992.1 million (HK$7.70 billion) after falling 9.7 per cent in the fourth quarter.

via Business feed http://www.scmp.com/business/companies/article/1223554/cost-controls-help-wynn-resorts-beat-wall-street-estimates