NEW YORK — Casino companies, slammed hard by the recession, said their revenue suffered and profit plunged in the first quarter.

Wynn Resorts, which opened the Encore Las Vegas in December, just before the quarter began, reported yesterday that — with a 27-cent-per-share adjusted loss — it fell well short of analysts' expectations of a 2-cent-per-share adjusted profit.

Wynn's miss was the most dramatic among the three major casino operators that reported earnings this week, including MGM Mirage and Las Vegas Sands Corp.

MGM Mirage's profit for the quarter included a hefty gain from selling a hotel and casino, but its adjusted results showed a loss of 10 cents per share, 3 cents greater than the 7-cent-per-share loss analysts forecast.

And Las Vegas Sands Corp. reported that its first-quarter loss widened compared with a year earlier as its revenue stagnated and expenses rose, though the results were slightly better than Wall Street expected.

But all shares in all three companies rose yesterday as investors appeared cheered that the companies' losses didn't worsen from those reported in the fourth quarter of 2008 — 27 cents per share at Las Vegas Sands, $1.49 per share at Wynn and a whopping $4.15 per share at MGM Mirage. And MGM Mirage CEO Jim Murren, who called convention cancellations in the first quarter "brutal," said Monday evening that things are improving.

"When people came to visit us in January, they left their wallets at home," Murren said after his company released its earnings. "Now, at least they've got their wallets in their pockets."

Las Vegas Sands reported that its group bookings are showing a pulse as well.

"Our group business in 2010 and 2011 is now starting to improve as future bookings come in, and groups who have previously canceled for 2009 are booking future years," said Rob Goldstein, president of the Venetian Las Vegas and the Palazzo.