Wynn Resorts reports 80 revenue increase for year ended 31 December 2021
Wynn Resorts has reported its financial results for the fourth quarter of 2021 and the year ended 31 December 2021
Wynn Resorts has reported its financial results for the fourth canton of 2021 and the year ended 31 Dec 2021.
For Q4 2021, the radical reported year-on-year increases of $321.4m and $100.1m at its Las Vegas Operations and Encore Beantown Harbor respectively. For Wynn Palace and Wynn Macau, revenues declined past $27.5m and $50.2m respectively.
Adjusted property Earnings Before Interest Taxes Depreciation and Amortization for the period was $149.1m, compared to $69.8m inwards Q4 2020. At the group’s Las Vegas Operations and Encore Boston Harbour, Adjusted Property Earnings Before Interest Taxes Depreciation and Amortization increased by $165.1m and $51.6m respectively. Again for Wynn Palace and Wynn Macau, there was a go down of $30.1m and $35.2m respectively.
A financial statement from Wynn Resorts read: “In response to the initial outbreak of Covid-19 inwards early 2020, each of our properties was dependent to partial or full gag law for variable lengths of time during 2020, and for each one has since reopened.
“Given the evolving conditions created past and inwards response to the Covid-19 pandemic, measures that experience been lifted may be reintroduced if there are inauspicious developments with prise to Covid-19, and direction continues to follow unable to jolly idea the wallop of such developments to the company’s future tense results of operations, immediate payment flows, or financial condition.”
For the twelvemonth ended 31 December 2021, operating revenues for the chemical group increased by 80% to $3.76bn.
“I’m proud of our teams at both Wynn Las Vegas and Encore Beantown Harbor for delivering book Adjusted Property EBITDA at both properties during the 4th quarter,” said Wynn Resorts CEO Craig Billings.
“Our relentless sharpen on five-star hospitality and world-class experiences allowed us to further poke out our leading positions inward Las Vegas and Massachusetts inwards 2021. In Macau, we remain confident that the market place testament benefit from the bring back of visitation o'er the coming quarters.”