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NEWS 23 January 2018

Wynn Resorts net revenues up 29.9% in Q4 2017

By Robert Simmons
Worldwide casino resort operator Wynn Resorts has revealed a 29.9% year-on-year rise in its net revenues during the fourth quarter of 2017.

Publishing its financial results for the period, the casino group reported net revenues of $1.69bn, rising $388.7m from the $1.30bn reported during the same period in 2016.

Full-year 2017 net revenues for the group topped $6.31bn, jumping 41.2% year-on-year from the $4.47bn reported during the 2016 financial year.

Net income attributable to Wynn Resorts' US operations grew year-on-year by a whopping 332.8%, from $113.8m in the fourth quarter of 2016 to $491.7m in the same period of 2017.

Wynn Macau net revenues topped $618.6m for the fourth quarter of 2017, a 24.1% year-on-year increase from the $498.4m reported during the fourth quarter of 2016.

Net revenues from Wynn Palace, which only opened in August 2016, grew by 65.6% year-on-year to $693.4m during Q4 2017 from the previous Q4 2016 high of $418.7m.

Wynn Resorts' total debts outstanding at the end of the fourth quarter of 2017 were $9.63bn, of which $3.6bn was Macau-related debt and $3.16bn was related to Wynn Las Vegas.

RELATED TAGS: Land-Based | Industry | Marketing | Financial | Casino
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