Wynn Rockin' The Moustache, And The Revenue
The Wynn Las Vegas has posted its first report since opening.
The 34-day report said that the hotel's gambling revenue reached $64.3 million, exceeding analyst's expectations.
It was predicted that a full-quarter of gambling revenue at the city's most expensive hotel-casino would reach about $68 million.
Here' another tidbit of info that we would paraphrase if we understood business: "Gross non-gambling revenue for the 34 days, which includes $15.4 million of complimentary revenues, was in excess of $76.6 million."
Back to what we do know. The room occupancy rate is averaging 91 percent with rooms going for $308. The hotel had pinned hopes on an occupancy rate of 98 percent.
And of course, what you have all been waiting for, an official quote from Wynn:
"We are delighted with our first full month of operations, but we are reminded that opening a resort of this caliber and this scope is a daunting challenge," Steve Wynn, chairman and chief executive officer of Wynn Resorts, said in a statement.
Groove on Emperor Wynn.