Hotel News Resource - Wynn Resorts Hotel Industry News

Net revenues for the year ended 2011 increased 25.9% to $5,269.8 million, compared to $4,184.7 million in 2010. The revenue increase was driven by a 31.2% increase in revenues from our Macau Operations and a 14.2% revenue increase from our Las Vegas Operations.

Net revenues for the third quarter of 2011 were $1.3 billion, compared to $1.0 billion in the third quarter of 2010. The revenue increase was driven primarily by a 41.7% increase in revenues at Wynn Macau. Adjusted property EBITDA (1) was $381.1 million for the third quarter of 2011, 38.8% above the $274.5 million reported in the third quarter of 2010.

Wynn Resorts, Limited Reports Second Quarter Results

Net revenues for the first quarter of 2011 were $1,260.3 million, compared to $908.9 million in the first quarter of 2010. The revenue increase was driven by a 46.6% increase in revenues at Wynn Macau and a 24.0% revenue increase from our Las Vegas operations.

Net revenues for the year ended 2010 increased 37.4% to $4,184.7 million, compared to $3,045.6 million in 2009.

Wynn Las Vegas continues to set the bar for luxury and excellence in Las Vegas and unveils the first completely renovated resort rooms at Wynn.

Wynn Resorts, Limited (NASDAQ: WYNN) announced today that it had entered into a letter of intent with Philadelphia Entertainment and Development Partners, LP (PEDP), providing that an affiliate of Wynn will become the manager and managing general partner in the PDEP casino project slated for the Philadelphia waterfront.

Net revenues for the third quarter of 2009 were $773.1 million, compared to $769.2 million in the third quarter of 2008.

Wynn Resorts, Limited (NASDAQ: WYNN) announced today that Wynn Macau, Limited, a newly formed and indirect wholly owned subsidiary of Wynn Resorts, Limited and a developer, owner and operator of destination casino gaming and entertainment resort facilities focused exclusively on Macau, has determined the price for its proposed offering of 1,250,000,000 ordinary shares of Wynn Macau, Limited.

Net revenues for the second quarter of 2009 were $723.3 million, compared to $825.2 million in the second quarter of 2008.