Wynn Resorts Ltd. swung to a third-quarter loss, in part tied to the opening of its latest casino in Macau, dragged down by its operations in the Chinese semiautonomous territory.

Meanwhile, Wynn President Matthew O. Maddox said in a conference call with analysts that "there seems to be momentum" about building a casino in Japan, a much-discussed possibility that has failed to gain traction over economic concerns and political turnover.

Shares, up 40% this year, fell 6% to $90.96 in after-hours trading.

Gambling at Macau, considered the world's gambling capital, had been on a downward spiral amid tighter regulations and a weakening economy on the mainland. But gambling revenue has now risen for three consecutive months, according to government figures.

Still, Las Vegas-based Wynn said Wednesday that net revenue from its Macau operations fell 11.5% in the latest period to $518.1 million.

Revenue per available room, a closely watched industry metric, fell nearly 16% to $257.

Meanwhile, Wynn Palace in Cotai, which opened this summer, added $164.6 million in revenue. Company officials have complained that construction in the area has "made access to the Palace temporarily highly encumbered," Chief Executive Stephen Alan Wynn said in a conference call with analysts Wednesday afternoon.

"We literally couldn't get across," Mr. Wynn said in the call. "We had to take a very risky approach and dodge cars for me to get to the City of Dreams. I hadn't expected that it would be at this stage when we opened in August, but there it is."

Revenue from its Las Vegas operations rose 3.9% to $427.1 million. Revenue per available room rose 6.6% to $259.

Over all, Wynn reported a loss of $17.4 million, or 17 cents a share, compared with a year-earlier profit of $96.2 million, or 95 cents a share. Excluding costs tied to the opening of Wynn Palace and other items, profit fell to 75 cents a share from 86 cents a year earlier.

Net revenue rose 11% to $1.11 million, slightly below the $1.12 billion that analysts surveyed by Thomson Reuters expected.

Wynn ended the year with about $2.02 billion in cash and $9.44 billion in debt.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

November 02, 2016 21:05 ET (01:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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