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

PIN-UP Partners

 
Premium

Sport Generate

 
Premium

Galaxsys

 
Premium

1xBet Partners

 
Premium

Digitain

 
 
Premium

GammaStack

 
Premium

RISK

 
Premium

Revsharks

 
Premium

Imagine Live

 
Premium

Lynon

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...