Wynn Resorts has published its financial report for Q2 2024 revealing operating revenues of $1.73 billion, an 8% increase year-on-year, but a drop of 7% compared to the prior reporting period.
According to the report, revenues grew by $137.1 million from $1.6 billion reported in Q2 of 2023. Net income amounted to $111.9 million for the reporting period, up by 5.7% from the $105.2 million reported in the corresponding period in 2023.
Meanwhile, Adjusted Property EBITDAR was $571.7 million for the reporting period, compared to $524.5 million for the second quarter of 2023.
Q2 2024 Key Highlights
Group results
- Operating revenues – $1.73 billion, up by 8%
- Operating expenses – $1.46 billion, up by 8.95% Wynn Resorts Reports 8% Increase in Revenues for Q2 2024
- Net income – $146.2 million, up by 14.4%
Individual resort and subsidiary operating incomes (losses)
- Wynn Palace – $108.2 million Wynn Resorts Reports 8% Increase in Revenues for Q2 2024 Wynn Resorts Reports 8% Increase in Revenues for Q2 2024 Wynn Resorts Reports 8% Increase in Revenues for Q2 2024
Speaking of the latest results, Craig Billings, CEO of Wynn Resorts 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. Importantly, we continue to invest in growing the business, with construction on Wynn Al Marjan Island in the UAE progressing at a rapid pace.
Wynn Resorts Reports 8% Increase in Revenues for Q2 2024
WYNN stock currently has a Market Cap of $8.54 B, trading at $100.71.
