NEW YORK, NY / ACCESSWIRE / April 27, 2017 / Luxury hotel and casino operators Wynn Resorts and Las Vegas Sands rolled the dice this week with first quarter earnings and won big. Las Vegas Sands saw profits rise 41% for Q1 while Wynn Resorts beat the Street on both EPS and revenues and even announced the first phase of its $1.5 billion Las Vegas lagoon-theme park.

RDI Initiates Coverage on:

Las Vegas Sands Corp.
https://ub.rdinvesting.com/news/?ticker=LVS

Wynn Resorts, Limited
https://ub.rdinvesting.com/news/?ticker=WYNN

First quarter results for Las Vegas Sands impressed the Street on Wednesday as shares closed up 1.35% on trading volume double the daily average. Around 7.8 million shares were traded yesterday after the company posted EPS of $0.66 for the first quarter of 2017 late Tuesday. The consensus had expected EPS of $0.62. Revenues missed the consensus estimate of $3.116 billion modestly at $3.106 billion, but were a jump from the $2.72 billion posted a year ago. Earnings this last quarter were welcomed by traders as the casino and resort operator posted a 4.62% negative earnings surprise in the previous one.

Access RDI's Las Vegas Sands Research Report at:
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Luxury gambling sure has been paying off in the first quarter for Wynn Resorts. Shares closed up nearly 7% on Wednesday after the hotel casino operator reported first quarter earnings on Tuesday that beat estimates. Analysts had expected an EPS of 93 cents, according to Thomson Reuters, but Wynn smashed that estimate by reporting an EPS of $1.24 per share. Revenue was also a big win for the company in Q1 at $1.48 billion when analysts had only expected $1.38 billion.

The board also announced on Tuesday that it's anticipated $1.5 billion lagoon-themed Las Vegas resort would begin construction as early as December of this year. According to the company, the waterpark resort would put on a "great show like they have at Disneyland only bigger." CEO Steve Wynn remarked, "We have no better use for our money. We keep $1.5 billion or $2 billion in the parent company and this would allow us to take the most conservative, but the most dynamic approach to creating this." Shares hit a new 52-week high of $127.20 yesterday.

Access RDI's Wynn Resorts Research Report at:
https://ub.rdinvesting.com/news/?ticker=WYNN

Our Actionable Research on Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (NASDAQ: WYNN) can be downloaded free of charge at Research Driven Investing.

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