Wynn Wire Resorts Reports Strong First Quarter Results Despite Pandemic Challenges

Las Vegas-based Wynn Wire Resorts Limited has announced its financial results for the first quarter of 2021, showcasing a strong performance despite the ongoing challenges posed by the COVID-19 pandemic. The company reported operating revenues of $725.8 million for the period, representing a decrease of 23.9% compared to the same quarter in 2020.

Wynn Wire Resorts' CEO, Matt Maddox, commented on the results, stating that the first quarter reflects continued progress in its business as consumers began to return to their favorite leisure and gaming destinations. The company's Las Vegas Operations and Encore Boston Harbor delivered record Adjusted Property EBITDA, driven by solid execution across the property.

In a significant development, Wynn Wire Resorts announced plans to fuel the growth of its online sports betting and iGaming arm, WynnBET, through a merger with Austerlitz Acquisition Corp I. The company also reported that WynnBET is now live in six states, paving the way for enhanced product features and further market expansion in 2021.

Wynn Wire Resorts' Macau operations experienced continued gradual improvement in visitation trends, driving strength in premium mass casino and luxury retail. Additionally, the company's Las Vegas properties showed continued strength in the casino segment, with Wynn Las Vegas remaining a destination of choice for high-quality gaming customers.

The company's financial results also included a notable decrease in net loss attributable to Wynn Wire Resorts Limited, which was $281.0 million or $2.53 per diluted share for the first quarter of 2021, compared to a net loss of $402.0 million or $3.77 per diluted share in the same period last year.

Overall, Wynn Wire Resorts' financial results demonstrate its resilience and adaptability in the face of pandemic-related challenges. The company's continued focus on expanding its online sports betting and iGaming offerings, as well as its commitment to delivering exceptional gaming experiences across its properties, position it for long-term success.

Wynn wire resorts