Wynn Resorts experiences positive Q2
Operating revenues and net income increased during the second quarter of 2018.
US.- Wynn Resorts has reported its financial results for the second quarter of the year, ending June 30th. The company has experienced a rise in operating revenues as well as in net income during the three month period, with Wynn Palace being one of the biggest contributors to the financial improvement.
Operating revenues increased nine per cent to US$1.6 billion, which is US$132 million higher than the US$1.47 billion registered in the same period in 2017. Wynn Palace and Las Vegas’ operating revenues increased US$224.2 million and US$3.5 million respectively when compared to the second quarter a year before. On the other hand, Wynn Macau posted a decrease of US$95.2 million.
Moreover, Wynn Resorts’ net income was US$155.8 million, higher than the US$74.9 million from 2018. The company said that the net income rise was driven by an increase in operating income from Wynn Palace.
Adjusted property EBITDA was US$476.4 million, which represents a 10.8 per cent rise. Adjusted property EBITDA from Wynn Palace rose US$91.9 million when compared to the three month period in 2017.
