Wynn Resorts posted a 73.9% increase in revenue to $6.53 billion in its 2023 financial year, while its adjusted property EBITDAR soared to an all-time high. BetMGM, a joint venture between Entain and MGM Resorts, reported a 36% year-over-year leap in revenue, reaching nearly $2 billion in 2023 and turning EBITDA positive in the second half of the year. Following the financial updates, MGM shares closed up 3.8%, and Entain shares increased by 1.35%. Wynn Resorts has increased its resort fee to $50 per night, plus a 13.38% tax rate on both the room price and the resort fee.
Another Strip property raises resort fees https://t.co/dB9mUvNHeR via @reviewjournal, @mckenna_ross_
Wynn Resorts is raising the resort fees at its Las Vegas properties, the latest company to bump up the charge. https://t.co/Sdwz2vhb1a
Now that Wynn and MGM Resorts' luxury properties have raised their resort fees to $50/night, how long do you think it will be until Venetian-Palazzo raises theirs from $45 to $50?
Now that Wynn and MGM Resorts' luxury properties have raised their resort fees to $50/night, how long until Venetian-Palazzo raise theirs from $45 to $50?
Wynn Resorts has increased the daily fee to $50 plus tax, according to the resort’s website. https://t.co/fesnzo8oBH
Wynn raised its resort fee to $50 per night (plus tax) https://t.co/yaIWMMAig4
The Wynn has raised its resort fee from $45 to $50 per night *Plus 13.38% tax on the room price and another 13.38% tax on the $50 resort fee https://t.co/F1TImHPo9Y
MGM shares close up 3.8%; Entain up 1.35% after BetMGM posts $1.96B of net revenue in 2023, a 36% increase from last year, despite market share falling from 19% to 14%.
BetMGM reports 36% YoY leap in FY 2023 revenue as H2 turns EBITDA positive https://t.co/t9xkGoHe6K https://t.co/7ijOAKNhgJ
BetMGM, the joint venture between Entain and MGM Resorts, generated almost $2.00bn (£1.59bn/€1.86bn) in revenue in 2023, reaching the upper end of its guidance range https://t.co/Fi28ycHNdK https://t.co/hVRM5UuJQu
Loyalty program members at various Las Vegas resorts are now able to take their higher status to the newest resort on the Strip. https://t.co/KPJo0j9ddf
Land-based casino operator Red Rock Resorts has praised the impact of its long-term growth strategy after reporting a 3.6% increase in revenue to $1.72bn (£1.37bn/€1.60bn) in 2023 https://t.co/KMarj87mUN https://t.co/BLHeAKY1jI
Wynn Resorts posted a 73.9% increase in revenue to $6.53bn (£5.17bn/€6.06bn) in its 2023 financial year while adjusted property EBITDAR reached an all-time high https://t.co/ZpQaAFs9l9 https://t.co/7jYUwrbrMy