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Wynn Resorts posts revenue increase

Wynn Palace was one of the facilities that helped drive the growth. Credits: mavenofmacau.com

The company unveiled its fourth quarter results and an increase of 4% in operating revenue.

US.- Wynn Resorts has released its latest financial results, which indicate that year-on-year operating revenue for the fourth quarter of 2018 has increased by 4% to US$1.69 billion. Wynn Palace was one of the facilities that helped drive the growth.

The casino company said that full-year operating revenues in 2018 rose by 11% to US$6.72 billion, and Wynn Palace helped these results by achieving a year-on-year growth of 13% to US$740.6 million. On the other hand, Wynn Macau posted contrary results and experienced a 5% decrease during the same 12 month period to US$553.4 million

Moreover, Adjusted Property EBITDA (earnings before interest, tax, depreciation and amortisation) also increased 4% to US$499.4 million, and for the full year the numbers increased by 13%.

Net income during the fourth quarter of 2018 totaled US$476.6 million, approximately a 3.1% decrease when compared to the US$491.7 million registered during the same period in 2017.

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