Wynn Resorts, Limited today reported financial results for the quarter ended June 30, 2009. Net revenues for the second quarter of 2009 were US$723.3 million, compared to US$825.2 million in the second quarter of 2008. Net income for the quarter was US$25.5 million, or US$0.21 per diluted share, compared to net income of US$272.0 million, or US$2.42 per diluted share in 2008, a fall of 91%.

Both gaming revenue (up 3%) and non-casino revenue (up 9%) rose in Las Vegas but revenue At Wynn’s Macau operation fell 23%. Second quarter results in Las Vegas showed a table games win percentage of 20.7%, slightly lower than the expected 21% to 24% range. Win per unit per day on slot machines was US$155, down from US$232 in the second quarter of 2008.

In Macau table games turnover in the VIP segment was US$12.6 billion for the period, compared to US$16.3 billion for the second quarter of 2008. Table games drop in the mass market was approximately US$481 million during the period, a 23.3% decrease from $626.9 million in the second quarter of 2008. Slot machine win increased 3.2% compared to the second quarter of 2008 and win per unit per day was US$383, 6.6% higher than in the second quarter of 2008.

Construction continues on a further expansion of Wynn Macau. Encore at Wynn Macau is expected to open in the first half of 2010, adding a fully-integrated resort hotel to Wynn Macau with approximately 400 luxury suites and four villas, along with additional gaming spaces, food and beverage and retail amenities. The current project budget is approximately US$650 million. Encore at Wynn Las Vegas opened on December 22, 2008. (E-07.30.09)

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