Wynn expects lower Las Vegas operating profit

For the quarter ended June 30, Wynn expects operating income for its Las Vegas property in the range of $18 million to $22 million, compared with $63.4 million in the 2007 period. Wynn noted the company booked a lower-than-normal hold percentage, which is the amount won by the casino as a percentage of the total amount wagered.

The property's revenue per available room, or revpar, fell 3 percent to $292 during the period. Revpar is considered a key gauge of a hospitality company's performance.

Meanwhile, quarterly operating income for Wynn Macau is expected to range from $100 million to $106 million, compared with $53.2 million in the period year.

Wynn plans to release final second-quarter results on July 24.

Wynn shares jumped $9.45, or 13.5 percent, to $79.39 in after-hours electronic trading. The stock lost $7.62, or 9.8 percent, to $69.94 during the regular session.