Net revenues and Adjusted Property
EBITDA from Wynn Palace were US$ 475.8m and US$ 111.9 million, respectively,
for the first quarter of 2017. This contributed to the operator posting a 47.9 %
increase in its net revenue across the board.
Net revenues came in at US$ 1.48bn for the first quarter of 2017, an increase of 47.9 %. The company stated: "The increase was the result of $475.8m from Wynn Palace and an increase of $23.4m from our Las Vegas Operations, partially offset by a decrease of $21.2m from Wynn Macau.”
Chairman of the Board and Chief
Executive Officer Steve Wynn said: "Business is good for us. We’re enjoying the
continuing prosperity of Wynn Macau and the steady growth of Wynn Palace
pursuant to plans and the expectations we’ve had since the inception of that
project.”
"When we opened the hotel in Cotai this past August, we had 9 % of the market.
In the first quarter, we went to 13 %, and now we’re moving past 16 % of market
share.”
Net revenues from Wynn Macau were US $587m for the first quarter of 2017, a 3.5 % decrease from US$ 608.2 million for the same period of 2016.
Source: GMB / G3 Newswire
