Wynn, Red Rock Resorts Report Brutal 2Q Numbers

Properties Were Closed For 2 Of The 3 Months

Mitch Kelly
August 05, 2020 - 6:31 am
Wynn Resorts

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LAS VEGAS, NV (KXNT) - Earnings news was rough for both Wynn and Rock Rock Resorts as the companies released their numbers for the 2nd quarter of 2020 on Tuesday.

No surprise, really, as properties in Las Vegas were closed for all of April and May, reopening June 4th.

Wynn Resorts Ltd reported a second-quarter loss of $637.6 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Las Vegas-based company said it had a loss of $5.97. Losses, adjusted for non-recurring gains, came to $6.14 per share.

The casino operator posted revenue of $85.7 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $303.4 million. Overall revenue was off 95% compared to the 2nd quarter of 2019

Red Rock Resorts reported net revenue of $108.5 million for the second quarter of 2020, a decrease of 77.5% from the same period of 2019.