Published
Financial

Wynn Resorts reports $990m in operating revenue for Q2; but still succumbs to loss

Wynn Resorts has reported $990.1m in operating revenue for Q2 2021. It’s a $904.4m increase from the $85.7m recorded for the same time period in 2020.

Wynn

Net loss attributable to Wynn Resorts was $131.4m, or $1.15 per diluted share. Casino revenue for the quarter was $602.7m, while hotels earned $137.7m. Operating expenses for Q2 2021 were $1bn, with operating loss at $29.5m.  

"We were pleased to see the strong return of our guests at both Wynn Las Vegas and Encore Boston Harbor during the second quarter with adjusted property EBITDA at our US operations well above pre-pandemic levels, highlighting the significant pent-up demand for travel and leisure experiences," said Matt Maddox, Wynn Resorts CEO.

"While there have been some fits and starts along the road to recovery in Macau, we were encouraged by the strong demand we experienced during the May holiday period, particularly in our premium mass casino and luxury retail segments.”

Operating revenue for Wynn Palace for Q2 2021 was $270.4m, while adjusted property EBITDA stood at $53.6m, compared to negative EBITDA of $110.9m in 2020.

VIP table games win as a percentage of turnover was 3.95%. Operating revenue from Wynn Macau was $184m and adjusted property EBITDA was $14.1m. Las Vegas Operations earned $355.1m for the quarter, while Encore Boston Harbor reported $165.2m.

“On the development front, our WynnBET online casino and sports betting app is currently available in six states with additional launches planned over the coming months,” added Maddox. However, there was no additional information on the monetary success of the app.

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...