Connect with us
Play'n GO is returning to the Global Gaming Expo in Las Vegas this year
Play'n GO is returning to the Global Gaming Expo in Las Vegas this year

Industry News

Wynn Resorts Limited Reports First Quarter 2024 Results

Published

on

 

Wynn Resorts Limited has reported the financial results for the first quarter ended March 31, 2024.

Operating revenues were $1.86 billion for the first quarter of 2024, an increase of $439.2 million from $1.42 billion for the first quarter of 2023. Net income attributable to Wynn Resorts, Limited was $144.2 million for the first quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $12.3 million for the first quarter of 2023. Diluted net income per share was $1.30 for the first quarter of 2024, compared to diluted net loss per share of $0.02 for the first quarter of 2023. Adjusted Property EBITDAR was $646.5 million for the first quarter of 2024, compared to Adjusted Property EBITDAR of $429.7 million for the first quarter of 2023.

“The strong momentum we experienced in our business throughout 2023 continued to build during the first quarter with Adjusted Property EBITDAR reaching a new all-time record. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets. On the development front, vertical construction on the hotel tower at Wynn Al Marjan Island is well underway, and we are confident the resort will be a ‘must see’ tourism destination in the UAE. We are excited about the outlook for the Company, and we believe we are well positioned to deliver continued long-term growth,” Craig Billings, CEO of Wynn Resorts Limited, said.

Consolidated Results

Advertisement
Stake - Best Online Casino & Sports Betting Platform

Operating revenues were $1.86 billion for the first quarter of 2024, an increase of $439.2 million from $1.42 billion for the first quarter of 2023. For the first quarter of 2024, operating revenues increased $217.5 million, $181.0 million, $49.8 million, and $1.5 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, from the first quarter of 2023.

Net income attributable to Wynn Resorts, Limited was $144.2 million for the first quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $12.3 million for the first quarter of 2023. Diluted net income per share was $1.30 for the first quarter of 2024, compared to diluted net loss per share of $0.02 for the first quarter of 2023. Adjusted net income attributable to Wynn Resorts Limited was $176.8 million, or $1.59 per diluted share, for the first quarter of 2024, compared to adjusted net income attributable to Wynn Resorts, Limited of $33.3 million, or $0.29 per diluted share, for the first quarter of 2023.

Adjusted Property EBITDAR was $646.5 million for the first quarter of 2024, an increase of $216.8 million compared to Adjusted Property EBITDAR of $429.7 million for the first quarter of 2023. For the first quarter of 2024, Adjusted Property EBITDAR increased $91.3 million, $92.4 million, and $14.7 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively, and decreased $0.3 million at Encore Boston Harbor, from the first quarter of 2023.

Wynn Resorts Limited also announced that its Board of Directors has declared a cash dividend of $0.25 per share, payable on May 31, 2024 to stockholders of record as of May 20, 2024.

Advertisement
Stake - Best Online Casino & Sports Betting Platform

Industry News

Cliff Ehrlich Joins Rush Street Gaming as COO

Published

on

Cliff Ehrlich Joins Rush Street Gaming as COO

 

Rush Street Gaming announced that casino and hospitality veteran Cliff Ehrlich has joined the company as chief operating officer.

Ehrlich assumes the role of Rush Street COO from Bill Keena, a longtime company and industry leader, who plans to retire later this year.

“I’ve admired Rush Street’s strong leadership and steady expansion over the past two decades. I’m thrilled to join this dynamic organization and look forward to contributing to the company’s ongoing success,” said Ehrlich.

Ehrlich’s career began in marketing at the Catskills’ Pines Resort Hotel in the 80s and transitioned in the 90s to casino development and operations. In 1996, he became co-owner of the Monticello Raceway and helped recruit the Oneida Indian Nation to build a casino on the property. Following an initial public offering, Ehrlich led Monticello Casino & Raceway as president, chief operating officer and general manager until 2013.

Advertisement
Stake - Best Online Casino & Sports Betting Platform

After consulting with Mohegan Sun regarding Upstate New York development opportunities, in 2015, Ehrlich joined The Downs Racetrack & Casino in Albuquerque, serving as general manager and chief operating officer. He later ran two casinos for The Navajo Nation — Northern Edge and Flowing Water. Since 2022, Ehrlich has been Navajo Nation Gaming Enterprise’s chief operating officer, with oversight of four casinos, a resort destination hotel, travel plaza and food & beverage manufacturing.

“Cliff’s ground-up casino development experience, deep operations background and team leadership ensure that all five Rivers Casino properties remain in great hands. He will continue the strong forward momentum established by Bill Keena, for whom we wish the very best in retirement,” said Tim Drehkoff, CEO of Rush Street Gaming.

Continue Reading

Industry News

Wanna.com Welcomes Former MGM President & COO Chuck Bowling to Board of Directors

Published

on

 

Wanna.com, the innovative daily fantasy sports gaming platform set to launch across the US, in August, announced the appointment of Chuck Bowling, former President and COO at MGM Resorts International, to its Board of Directors. With an impressive career overseeing prestigious properties such as the Mandalay Bay, Delano, Four Seasons Las Vegas and Luxor, Mr. Bowling brings a wealth of experience and strategic insight to the burgeoning enterprise.

As Wanna.com prepares for its initial launch in approximately 25 to 30 states, Mr. Bowling’s extensive expertise in hospitality and gaming will be instrumental in guiding Wanna.com and Wanna Parlay, through this exciting phase of growth and development. His leadership at MGM, where he was pivotal in enhancing guest experiences and driving operational excellence, aligns perfectly with Wanna.com’s vision of delivering unparalleled daily fantasy sports entertainment to users nationwide and internationally.

“We are thrilled to welcome Chuck Bowling to the Wanna.com Board of Directors. Chuck’s remarkable track record in the gaming and hospitality industry will be invaluable as we navigate the complexities of our launch and beyond. His strategic acumen and commitment to excellence resonate deeply with our mission to revolutionize the daily fantasy sports landscape,” said CEO/Founder of Wanna.com Jim Bob Morris.

Mr. Bowling expressed his enthusiasm for joining the Board, stating, “I am honored to be part of Wanna.com at such a pivotal moment in its journey. The company’s innovative approach to fantasy sports gaming with concepts such as Wanna Parlay, holds great promise, and I am excited to contribute to its success and growth.”

Advertisement
Stake - Best Online Casino & Sports Betting Platform
Continue Reading

Industry News

Lotto.com Debuts New Digital Scratch Ticket Campaign Led by Havas New York

Published

on

 

Online lottery platform Lotto.com has launched a new Digital Scratch ticket campaign with surprising creative developed by Havas New York as the brand’s agency of record.

Lotto.com launched their first-to-market Digital Scratch tickets offering in December 2022, which transformed how traditional paper scratch tickets are played. As Digital Scratch tickets offer customers the opportunity to experience the thrill of playing a physical scratch ticket in a digital, secure setting, the campaign taps the thrill of winning anytime.

As a build to the brand’s first campaign, “Welcome to Winever,” the new Digital Scratch campaign avoids category cliches like CGI fantasy worlds and big spenders, instead capturing traditionally “unlucky” moments, and turning them into winning ones. With this theme at the core of the creative, the campaign highlights unlucky practicalities of life, such as getting your car towed or unexpectedly getting splashed by a taxi driving through a puddle. In each scene, the unlucky scenario is transformed into a lucky one with the ease of a Digital Scratch win on Lotto.com.

“In an often unlucky world, Lotto.com’s Digital Scratch tickets are a reminder that a win could be just a scratch away. Scratch tickets currently make up two-thirds of the $100+ Billion U.S. lottery market and our pioneering Digital Scratch innovation marks a significant milestone for the industry and solidifies our position as a pioneer in the digital lottery space,” Thomas Metzger, CEO of Lotto.com, said.

Advertisement
Stake - Best Online Casino & Sports Betting Platform

The fully integrated campaign was led by Havas New York, with paid and earned media support from Havas Village agencies including Republica Havas, Havas Formula, and Havas CX. The creative will roll out across radio, TV, and streaming throughout the month of August, with social media, digital, and out-of-home to follow.

“Lotto.com is spearheading an industry transformation with the introduction of Digital Scratch tickets and we are excited to be a part of it. Unlucky moments are something that all of us can relate to, no matter how big or small. We strive to set our brands apart from competitors by authentically connecting with consumers, and this new creative demonstrates how easy it is to turn even the unluckiest moment into the luckiest one,” Dan Lucey, Chief Creative Officer & Co-CEO of Havas New York, said.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.