Macau Casino Helps Wynn Resorts Triple Second Quarter Earnings

Who says that casino gambling is being affected by the economy? Someone had better let Wynn Resorts in on that little bit of information. The company reported its earnings for the second quarter on Thursday.

Rejoice was the word from Wynn Resorts Ltd. on Thursday. The company announced their earnings for the second quarter and they were far higher than in the same quarter last year.

The company more than tripled their earnings from last year with $272 million. That is $2.42 per share. Last year their earnings were only at $.82 per share with a total of $89.6 million.

The companies Macau property was a major reason for the increase in revenue. The Wynn Macau saw a rise of fifty percent in earnings from the previous year.

The news was not all good for Wynn. The Wynn Las Vegas revenue dropped twenty four percent. That is following a very disturbing trend for casino operators in Sin City. It also shows that the economy is having some effect on casinos.

It had long been thought that casinos were immune to the problems of the economy. That is proving not to be the case this year. Many casinos have their revenue numbers way down from in past years.

July 26, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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