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 Wynn Resorts reports a $900 million revenue in the second quarter of 2022

 
The company has published the balance sheet from the second trimester of the year with a decrease in the revenue compared to the same period in 2021.
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Specifically, the figure recorded twelve months ago was $990.1 million, $81.3 million above the current figure. However, losses have also decreased, albeit slightly, in comparison. In this quarter, Wynn Resorts has suffered a net loss of $130.1 million while in 2021, the figure was $131.4 million.

Among the many divisions of the company, the ones that have reported the best news have been Wynn Las Vegas and Encore Boston Harbor, which have increased their revenues by $206 million and $44.9 million respectively.

For their part, Wynn Palace and Wynn Macau have put the negative note in this report, showing a decrease in revenue of $211.7 million and $125.4 million with respect to the figures measured in the second quarter of 2021 .

In said report, Wynn Resorts has broken down the different balances of each of its divisions separately in this way.

Wynn Palace generated revenue of $58.7 million in the second quarter of 2022, $211.7 million less than in the same period of 2021. The calculated EBITDA is ($50) million, being $53.6 million in the previous year.

Wynn Macau had similar revenue to the previous establishment, $58.6 million, with a decrease of 125.4 compared to the second quarter of the previous year. The EBITDA leaves a value of ($40.4) million, for the $14.1 million of the previous cycle.

Las Vegas, one of the top stocks in this report, reported revenue of $561.1 million, with a increase of $206 million. EBITDA also grew, reflecting $226.7 million, well above the $133.2 million in the second quarter of 2021.

Finally, Encore Boston Harbor also had a great quarter, as indicated by $210.2 million in revenue, up $44.9 million matched with 2021 figures. EBITDA was also slightly higher, with $63.7 million in the second quarter of 2022, while in 2021, it left $46.9 million.

Separating by operations, it can be seen that although revenues have been reduced overall, there are certain movements that have improved.

That is the case of the rooms or the restaurant service, which have increased their values ??by $70 and $80 million, respectively, compared to the second quarter of 2021.

As a final balance, Craig Billings, CEO of Wynn Resorts has stated that their “Our second quarter financial results reflect continued strength at both Wynn Las Vegas and Encore Boston Harbor. Our teams' ongoing focus on five-star hospitality and new experiences at our market-leading properties combined with very strong customer demand drove a new all-time quarterly record for Adjusted Property EBITDA at Wynn Las Vegas and a second quarter record at Encore Boston Harbor" Adding, to substantiate the figures for Macau venues, “while COVID-related travel restrictions have continued to influence our results, we remain confident that the market will see us win back visitors over time.” .
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