Wynn Resorts' revenue rises 45% in Q2

According to tthe company's financial report, Adjusted Property EBITDA was USD 430M for the second quarter of 2017, an increase of 37.5%, or $117.3 million, from $312.7 million for the same period of 2016, primarily as a result of $87.4 million from Wynn Palace and increases of $20.0 million and $9.9 million from Wynn Macau and our Las Vegas Operations, respectively.

Wynn Resorts, Limited also announced today that the Company has approved a cash dividend of $0.50 per share, payable on August 22, 2017 to stockholders of record as of August 10, 2017.

The increase in net income attributable to Wynn Resorts was primarily the result of income from Wynn Palace, partially offset by an increase in interest expense as the Company is no longer capitalizing interest on Wynn Palace.

Wynn attributed the revenue increase to strong performances at both Wynn Palace, which opened in the third quarter of 2016, and Wynn Macau.

Casino revenues from Wynn Macau were $654.7 million for the second quarter of 2017, a 7.4% increase from $609.8 million for the same period of 2016, while Wynn Palace collected $372.2M in Q2.

Table games turnover in VIP operations at Wynn Palace was $11.60 billion and table games win as a percentage of turnover (calculated before commissions) was 2.18%, below the expected range of 2.7% to 3.0%.