Wynn Revenue Growing While Other Casino Companies Falter

The casino gambling market in Macau has started to level off, and that is bad news for Las Vegas based casino companies who have invested millions of dollars into building casinos in Macau.

One company, however, that is still going strong despite the downward trend of the American economy, is Wynn Resorts. The company revealed their third quarter figures this week and the figures show a fourteen percent increase in revenue over the same period last year.

The majority of the revenue increase was fueled by Wynn's Macau casino. The casino in Macau had a revenue jump of almost thirty seven percent. $474.8 million was generated from the Macau casino.

Wynn is fortunate its Macau casino is generating such high numbers. Other casino companies have seen their revenue figures drop in the third quarter. In Nevada, the Wynn Las Vegas casino revenue was down to $143 million from $150 million in the same period last year.

While the revenue numbers are encouraging, Steve Wynn cautioned investors about the future of the company. He explained that the focus of the company over the next few months will be to the newest property in the Wynn empire, the Encore. It will be opening in late December.

October 31, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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