Asia

Wynn revenues soar, aided by Macau boost

Published

7 years ago

November 9, 2018

Niji Narayan

Wynn revenues soar, aided by Macau boost

Photo Source: wynnsocial.com

Reading Time: < 1 minute

Wynn Resorts has declared the third quarter financial results. The revenue has increased substantially thanks largely to improved showing in Macau.

Operating revenues for the third quarter were $1.71bn, a rise of 10.2 per cent.

Operating revenues from Wynn Macau were $579.6m for the third quarter of 2018, a 3.1 per cent increase from $562m for the same period of 2017, and operating revenues from Wynn Palace were $730.6m for the third quarter of 2018, a 39.1 per cent increase from $525m for the same period of 2017.

Adjusted property EBITDA was $504.4m for the third quarter of 2018, an increase of 6.6 per cent, or $31.4m, from $473.0m for the same period of 2017. Adjusted property EBITDA increased $87.9m at Wynn Palace and was relatively flat at Wynn Macau compared to the same period of 2017. The increase at Wynn Palace was partially offset by a decrease of $56.2m at Las Vegas operations.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.