Wynn Resorts reports revenue increase in Q3
The company reported a 10% increase in operating revenues during the third quarter of the year.
US.- Wynn Resorts released its latest financial report, which details the activity from the third quarter of the year. Operating revenues increased 10% year-on-year during the three-month period to US$1.7 billion.
The company reported that figures for Wynn Palace rose 39% to US$730.6 million, while Wynn Macau increased 3% to US$579 million. On the other hand, Las Vegas’ operations weren’t as profitable for the company during the third quarter, as operating revenues fell 14% to US$398 million.
Moreover, adjusted property EBITDA experienced a 7% hike to $504 million, despite the fact that it was driven by Macau’s performance and affected by the Las Vegas decline. The Macau performance reported the highest gross gaming revenue in the last for years during October.
The casino operator also reported that it expects to open the Encore Boston Harbor in mid-2019. Ever since the start of the construction of the facility the company reported US$1.8 billion in project costs, with US$2.6 billion projected by the end of it.
