Wynn Resorts, Limited WYNN shares are trading lower after the company reported its second-quarter financial results Tuesday. Here's a look at the key figures for the quarter.
The Details: Wynn Resorts reported quarterly earnings of $1.12 per share on revenue of $1.733 billion with both figures missing the analyst consensus estimates.
For the second quarter of 2024, operating revenues increased by $79.7 million, $35.7 million, $50.6 million at Wynn Palace, Wynn Macau and the Las Vegas Operations, respectively, and decreased $9.3 million at Encore Boston Harbor, from the second quarter of 2023.
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The company’s board of directors declared a cash dividend of 25 cents per share, payable on Aug. 30, 2024, to stockholders of record as of Aug.t 19, 2024.
“Our second quarter results, including a new second-quarter record for Adjusted Property EBITDAR, reflect continued strength throughout our business. I am incredibly proud of our teams in Las Vegas, Macau and Boston,” said Craig Billings, CEO of Wynn Resorts, Limited.
“Importantly, we continue to invest in growing the business, with construction on Wynn Al Marjan Island in the UAE progressing at a rapid pace. During the quarter, we also finalized a transaction to acquire our pro-rata share of the land on Al Marjan Island Three, including a sizable land bank for potential future development opportunities for Wynn Resorts or for selected third parties complementary to Wynn Al Marjan.”
WYNN Price Action: According to Benzinga Pro, Wynn Resorts shares are down 0.84% after-hours at $74.65 at the time of publication Tuesday.
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