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Wynn reports $1.73 billion in Q2 revenue
Wynn Resorts reports strong operating revenues in the second quarter of 2024 driven by Macau and Las Vegas performances.
The revenues reached $1.73 billion, an 8% jump from the $1.60 billion reported a year earlier.
Craig Billings, CEO of Wynn Resorts Limited said:
“Our second quarter results, including a new second-quarter record for Adjusted Property EBITDAR, reflect continued strength throughout our business. I am incredibly proud of our teams in Las Vegas, Macau, and Boston.”
The company reported total revenues of $885.3 million from its Macau operations, representing a 15% year-on-year increase but an 11.3% decline compared with the previous quarter. Adjusted Property EBITDAR declined 17.4% quarter-on-quarter to $280.4 million, primarily due to weaker performance at Wynn Macau. Wynn Macau made $337.3 million in revenue for Q2, which is a year-on-year increase of 11.8%, but it was a sequential drop of 18%.
Meanwhile, Wynn Palace in Cotai had a year-over-year rise of 17.0% in terms of revenue amounting to $548.0 million although it fell short by 6.6% from closet previous quarter. For Q2, Wynn Resorts reported revenues amounting to $609.1 million within Las Vegas which translates into an 8.5% growth relative to last year. Encore Boston Harbor saw its revenues shrink from last year’s figure of 238 million dollars down to just about 234 million dollars.
Wynn Resorts has declared its quarterly dividend at 0.25 cents per share payable on August 31, 2024. The casino is also considering a casino project in Thailand and is making progress on its resort in UAE.
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