What Las Vegas Sands' strong earnings report tells us about Wynn Resorts

A rebound in spending by Chinese travelers helped Las Vegas Sands ' deliver a strong quarter on Wednesday. It should help Club holding Wynn Resorts , too. Las Vegas Sands announced better-than-expected revenue and earnings that were in line with estimates. More importantly, the casino operator posted $1.12 billion in third-quarter adjusted property EBITDA — a key metric of profitability in the gambling industry — that beat the Street consensus.

mountain WYNN stock year-to-date performance. To be sure, Macao hasn't fully bounced back. Visitors to the region are still about 15% below pre-pandemic levels. But the company said its occupancy in the third quarter was 96% higher than it was before the Covid lockdowns. It is also bringing in more sales per visitor. Recovery of travel and tourism spending in Macao continued during the third quarter.

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