\n
Las Vegas operating revenue for the September quarter was $186.7 million, down from $399.5 million a year earlier, while adjusted property EBITDA checked in at $20.3 million. In Boston, where Encore wasn’t open for all of July, adjusted property EBITDA surged to $26 million from $7 million last year. Operating revenue there sank to $116.7 million from $175.8 million in the same period in 2019.<\/p>\n<\/div>\n
On a conference call with analysts and investors, Wynn Las Vegas President Marilyn Spiegel noted the bulk of the company’s international traffic in Sin City is coming by way of foreign nationals already located in the US, namely Southern California. She called baccarat trends \u201cencouraging,\u201d while noting higher-end customers are visiting more frequently and betting more.<\/p>\n
Maddox points out that as part of the operator’s plan to rejuvenate the Las Vegas convention and entertainment business, it will have its own COVID-19 testing site completed by the end of this year. He said it will be saliva-based testing, with results that can be turned around in five or six hours<\/strong>.<\/p>\nWynnBet Update<\/h2>\n
In the just-completed quarter, Wynn launched online sports and casino offerings in New Jersey under its WynnBet brand.<\/p>\n
\u201cBeyond New Jersey, we have secured market access in numerous other states, and are in the process of applying for licenses on a stand-alone basis in Tennessee and Virginia,\u201d according to the company.<\/strong><\/p>\nLast week, the gaming firm said it’s applying for a sports wagering license in the Old Dominion State and, as a part of a deal with NASCAR<\/a>, will build betting lounges at Martinsville Speedway and Richmond Raceway.<\/p>\nThe next states for WynnBET launch are expected to be Colorado, Indiana, and Michigan.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Wynn Resorts (NASDAQ:WYNN) traded lower in Thursday’s after-hours session. That’s after the gaming company reported a wider-than-expected third-quarter loss on revenue that was lighter than Wall Street forecast. Dragged down by disappointing results in Macau, its most important market, the Encore operator said the company lost $7.10 a share on revenue of $370.45 […]<\/p>\n","protected":false},"author":46,"featured_media":154548,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Wynn Q3 Results Were Dismal, Would've Been Worse Without US Ops<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n