Wynn Narrows Loss, Grows Sales in Q2

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LAS VEGAS-Wynn Resorts Ltd. narrowed its second-quarter net loss as sales grew, the company reported Tuesday. The casino owner and operator posted a net loss of $20.1, or $0.20 per share, compared with a net loss of $41.8 million, or $0.43 per share for the same 2005 period. The company’s adjusted net loss, which excludes $15.2 million in pre-opening expenses, was $4.9 million, or $0.05 per share.

The company’s only operating casino is Wynn Las Vegas. Net sales were $273.4 million, up 36% from the same period in 2005. Net gaming revenue in the second quarter was $113.5 million, up 15% from the same 2005 period. Gross non-gaming revenue for the quarter was $196.3 million, a 2.4% increase from the first three months of the year. Room revenue was $69.2 million with an ADR of $293 and occupancy of 95.7%, generating RevPAR of $280 for the period.