Wynn Resorts’ revenue grew by over 70% in Q2
Wynn Resorts has experienced sizable revenue growth in the year’s second quarter.
The company’s latest report started off with its revenue figure, which experienced quite a bit of growth in the period, going from 908 million dollars to 1.6 billion dollars. Wynn Resorts’ revenue increased in the year’s first half as well, going from 1.8 billion dollars to just over 3 billion dollars.
This also led to a sizable amount of growth in the company’s operating income, which was recorded at 250 million dollars, up from last year’s loss of 52 million dollars. Wynn Resorts’ H1 operating income went into the positives as well, going from a loss of 146 million dollars to an income of just under 420 million dollars.
Broken down by operating segments, the company’s gambling operations generated the most revenue in the period at 912 million dollars, which was also an increase of more than 250% from last year’s casino revenue of 360 million dollars. This was followed by Wynn’s hospitality division, which made 276 million dollars, and its food and beverage offerings which generated 257 million dollars in revenue.
Other noteworthy highlights of Wynn Resorts’ Q2 and H1 operations include the start of the construction of the Wynn Al Marjan Island resort in the UAE, which is going to be one of the country’s first gambling establishments and a prime tourist destination in the region.