Wynn reports setback in operating revenues in 2019
Wynn has revealed that in 2019, operating revenues declined 1.6% to US%6.61 billion compared to the previous year.
US.- Wynn Resorts has released its financial figures from the full 2019, a year in which the company perceived a decrease in operating revenues. The decreases were partially offset by Encore Boston Harbor’s performance.
The company explained that operating revenues fell 1.6%, or US$106.6 million, to US$6.61 billion, compared to the US$6.72 million in the year ended December 31, 2018. Operating revenues decreased US$213.9 million, US$224.5 million, and US$32.1 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively.
The decrease in operating revenues at Wynn Palace, Wynn Macau, and our Las Vegas Operations was partially offset by operating revenues from Encore Boston Harbor of US$363.9 million.
Matt Maddox, CEO of Wynn Resorts, said: “Encore Boston Harbor continues to ramp nearly doubling its adjusted property EBITDA sequentially and we remain excited by the opportunity to drive growth at the property over the next several years.”
Fourth quarter results
During the fourth quarter of last year, the company’s operating revenues fell 2%. Decreasing revenues at Wynn Palace, Wynn Macau and its Las Vegas operations were to blame, the company shows. Wynn Resorts revenue results caused a net loss of US$72.9 million, down from income of US$464.9 million year-on-year.
