Two Way Hard Three | Las Vegas Casino & Design Blog

February 23, 2006

Wynn Resorts: Loss Narrows

Posted by Hunter

Blogging live from a Wynn Las Vegas parlor suite, here's the links to Wynn's earnings, released today:

Yes, they are still posting losses but looking at the recurring vs. non-recurring items, things look pretty good for Wynn Las Vegas.

I listened to the conference call while sitting on the tarmac waiting to take off. Steve talked mostly about Macau. They said they will have three sites on Cotai that they will operate. He sounded really excited about China.

Wynn Macau opens September 5th - he made the call today.

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Read archived comments (6 so far)
February 24, 2006 6:15 PM Posted by Brian Fey

That's not fair Hunter! You're at Wynn and I am not! Oh well, I was there 3 weeks ago, and am planning a June trip now. Yeah I was pretty impressed with the numbers. People are negative, but they didn't see all the positive, and there was a lot I think. This hotel has only been open two for quarters now, its running better than ever, and will just keep getting better. I predict, they will be into the black by the next quarter. Their revenue, is pretty amazing, especially when you consider their location. I look forward to the future!

May 7, 2007 1:17 PM Posted by Leonard Stern

This just in: Wynn Resorts, Ltd reports Q1 2007 Net Income of $58,405 as opposed to a Net Loss of $11,434 for Q1 2006. Don't expect WYNN to stay in the black for long, however, after increased competitive pressure in Macau from Venetian + MGM Grand as well as Palazzo's influence on their earnings here in Las Vegas.

[ED: We already have a front page story on this topic. I encourage users to check the front page as we often break news like this there.]

May 7, 2007 1:32 PM Posted by Leonard Stern

Hunter: FYI - I posted this, BEFORE or simultaneous with your front page headline. At the time I posted this news, you had NOT yet reported it...

May 7, 2007 1:38 PM Posted by Hunter

Not that it matters but that's not correct.

I have time-stamps on both my entry and your comment:

My post was at 1:09pm and your comment was at 1:17pm. Close!

May 7, 2007 6:11 PM Posted by Leonard Stern

Hunter: Well, if these 'time-stamps' correctly validate any significant importance worth pursuing, then I accept the fact you beat me by a mere EIGHT minutes in reporting/publishing this news that I received over the wires. I therefore, in the interest of rational judgement, concede that you beat me to the punch this time without further ado. :-)

May 7, 2007 6:57 PM Posted by Hunter

You were checking the AP wire? I was reloading the Wynn Resorts Web site and basically already had two articles written, one for a loss and one for a profit - just picked the right one and plugged in the numbers - that let me hit it so quickly.