Wynn Resorts Revenue Drops
26th February, 2009
It seems that the majority of casinos across America are struggling to cope with the recession and Wynn Resorts casinos are no exception. On Tuesday Wynn Resorts announced that the company’s fourth quarter figures were below expectations.
Wynn Resorts revenue for the fourth quarter of 2008 was down 14% from the year before- it dropped to $614.3million. The stock fell $1.49 a share in the quarter.
While Wynn has said that the economic climate is affecting business, he acknowledges that there may be worse to come. Indeed, some analysts believe that the Las Vegas casinos may never get the revenue numbers they once did.
By Annabel
