Casino operator Wynn Resorts Ltd announced on Wednesday that its third-quarter net income was a healthy $127.1 million.
The casino giant, led by billionaire Steve Wynn, attributed the positive figures to a busy period in Macau, which is the world’s top gambling market and was the source of three-quarters of the company’s revenue.
Gambling revenue in Macau climbed 41.7 per cent to a massive $951.4 million, according to the AP.
“Our bottom line keeps climbing,” Wynn said.
Wynn added that high rollers and regular customers gambled more on table games and slots in Macau, and the company’s hotels were fuller and more expensive to stay in.
The company did not provide an update on its latest casino-resort project in Macau’s Cotai area, however Chief Financial Officer Matt Maddox said Wynn expects to finalise the financing of the project next year.
When asked whether demand for Macau casinos might die down soon, Maddox reportedly said he thought gambling in the region was roughly one-third of the way toward its potential.
Wynn said its two casinos in Las Vegas generated revenue of $346.9 million, 3.7 per cent more than they did during the third quarter last year.
He added that the company is considering whether to build casinos in Florida and Massachusetts, depending on whether those states will allow commercial casino gambling.
He said the Miami area could potentially become a gambling market worth $3 billion a year.
“Hopefully there will be a business opportunity there,” he said.
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