Wynn Resorts, the Nevada-based developer and operator of hotels and casinos, has reported positive results for the first quarter of 2017.
Net revenues were US$1.48bn for the first quarter of the year, an increase of 47.9 per cent, or $478m, for the same period of 2016. The increase was the result of $475.8m from Wynn Palace and an increase of $23.4m from Las Vegas operations, partially offset by a decrease of $21.2m from Wynn Macau.
Net income was $100.8m, an increase of 34 per cent, or $25.6m.
Adjusted property EBITDA was $427.5m for the first quarter of 2017, an increase of 42.4 per cent, or $127.3m, from $300.3m for the same period of 2016, primarily as a result of $111.9m from Wynn Palace and an increase of $25.6m from Las Vegas operations, partially offset by a decrease of $10.1m from Wynn Macau.
