Wynn Resorts has reported a 44.5% jump in revenue to US$470.9 million for the second quarter of 2017, driven primarily by the opening of its new Macau Integrated Resort Wynn Palace, which opened last August, plus steady increases at both its Wynn Macau and Las Vegas operations.
The company’s Macau properties accounted for 68.2% of all revenue, led by Wynn Macau which saw revenue rise by 6.8% to US$682.7 million. Adjusted Property EBITDA from Wynn Macau was US$210.4 million for the second quarter, a 10.5% increase from US$190.4 million for the same period of 2016.
Casino revenues from Wynn Macau were up 7.4% to US $654.7 million, including a 35.3% increase in VIP table games turnover to US$16.02 billion.
Mass market table drop fell 9.0% to US$1.07 billion with table game win down 5.8% to US$221.6 million, while slot machine handle grew 7.6% to US$867.9 million with win of US$39.5 million.
2Q17 represented the third full quarter of operations for Wynn Palace and the first time it had operated through the three month period to 30 June.
Net revenue and Adjusted Property EBITDA from Wynn Palace were US$414.7 million and US$87.4 million respectively for the quarter.
Casino revenues were US$372.2 million including VIP table game turnover of US$11.6 billion, mass market table drop of US$729.0 million and slot machine handle of US$657.9 million with slot machine win of US$34.8 million.
Company-wide Adjusted Property EBITDA for Wynn Resorts came in at US$430.0 million for the quarter of 2017, an increase of 37.5% from US$312.7 million for the same period of 2016,
Wynn Resorts also announced that it has approved a cash dividend of US$0.50 per share payable on 22 August.
