Wynn Resorts Ltd (WYNN) Misses Q2 EPS by 43c

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Wynn Resorts, Limited Reports Second Quarter 2018 Results

August 1, 2018 4:02 PM EDT

LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the second quarter ended June 30, 2018. The results reflect the Companys adoption of the new revenue recognition standard ("ASC 606"), effective January 1, 2018. Certain prior period amounts have been adjusted to reflect the full retrospective adoption of ASC 606, with no impact on operating income, net income or Adjusted Property EBITDA (1).

Operating revenues were $1.61 billion for the second quarter of 2018, an increase of 9.0%, or $132.5 million, from $1.47 billion for the same period of 2017. Operating revenues from Wynn Palace and our Las Vegas Operations increased $224.2 million... More