Palace continues to drive Wynn results in 18Q2

Wynn Macau reported a 56.2 percent rise in net profit for the second quarter of 2018, driven again by strong growth from its Wynn Palace property.

Such net profit amounted to $160.3 million in 18Q2, while total operating revenues reached $1.2 billion, up 12.5 percent year-on-year compared to the prior year period.

The positive results was brought on by strong revenue growth across the board from Wynn Palace, with casino revenues up 62.4 percent to $525 million.

This was offset by a 18.1 percent dip in casino revenue from Wynn Macau, caused by a 13.1 percent drop in VIP revenue, but an increase in mass table and slot machine revenue.

Adjusted property EBITDA for Wynn Macau reached $382.8 million, while Wynn Palace was $391.2 million.

The results brought Wynn Resorts, the parent company, operating revenues of $1.6 billion for the second quarter of 2018, representing an increase of 9 percent.

Adjusted Property EBITDA was $476.4 million, up 10.8 percent.

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