Casino News

Wynn resorts back in the black

2007-08-07 14:20:35

Nevada-based Wynn Resorts is back in the black thanks to an impressive second quarter in Las Vegas and Macao.

Figures released by the firm show that Wynn earned $89.6 million or 82 cents a share during the three-month period, comparing favourably with losses of $20.1 million this time last year.

And thanks to a new $1.1 billion casino in Macao, total revenue climbed from $273.4 million to $687.5 million.

In Macao alone, revenues amounted to $352.5 million, along with operating profits of $92.7 million.

The data also shows that the amount of money wagered in the casino's VIP rooms was $9.3 billion in the second quarter.

Wynn Resorts was established in 2002 by millionaire and former Mirage Resorts chairman Stephen A Wynn.