InvestorsHub Logo
Followers 689
Posts 143817
Boards Moderated 35
Alias Born 03/10/2004

Re: None

Tuesday, 08/09/2022 7:31:48 PM

Tuesday, August 09, 2022 7:31:48 PM

Post# of 1367
Wynn Resorts Q2 Revenue Misses Estimates, Shares Drop In After Hours Trading
By: Investing.com | August 9, 2022

Wynn Resorts Ltd (NASDAQ:WYNN) shares traded more than 2% lower after-hours following the company’s reported Q2 results.

While EPS of ($0.82) came in better than the consensus of ($1.11), the revenue of $908.8 million missed the consensus estimate of $980.85 million.

Q2/22 operating revenues increased $206.0 million and $44.9 million at Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $211.7 million and $125.4 million at Wynn Palace and Wynn Macau (OTC:WYNMF), respectively, from Q2/21.

According to Craig Billings, CEO of Wynn Resorts, the company achieved an all-time quarterly record for adjusted Property EBITDA at Wynn Las Vegas and a Q2 record at Encore Boston Harbor due to the teams' ongoing focus on five-star hospitality and new experiences at their market-leading properties combined with very strong customer demand.

"In Macau, while COVID-related travel restrictions continued to impact our results, we remain confident that the market will benefit from the return of visitation over time," added Billings.

Read Full Story »»»

DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent WYNN News