Wynn Macau Ltd. (1128.HK) said Wednesday its first-quarter net profit rose 66% from a year earlier as gambling revenue in the Chinese territory continued to soar.

The casino operator, which listed in Hong Kong in October 2009, said its net profit for the three months ended March 31 was $189.66 million, up from $114.27 million a year earlier, according to international financial reporting standards.

Operating revenue rose 47% to $865.68 million in the first quarter from $590.65 million a year earlier. The company didn't recommend a dividend.

The company in November recommended a dividend for the first time. It declared a special dividend of $0.76 per share and said it would consider paying recurring dividends with a target yield of 1%-3% per year.

Parent company Wynn Resorts Ltd. (WYNN) reported a profit of $173.8 million, up from $27.0 million a year earlier and approved a cash dividend of $0.50 per common share. Net revenue rose 39% to $1.26 billion.

-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; kathryn.okeeffe@dowjones.com
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