This week Wynn Resorts announced that their second quarter revenues slipped by 94.8% in the second quarter due to casino closures related to the Covid-19 pandemic.
The revenues generated were $85.7 million, down from $1.66 billion last year. The company ended up posting a loss for the period of $638 million. The Wynn Macau generated $11.9 million, down 97.8%; Wynn Palace brought in $8.7 million, down 98.6%; Wynn Las Vegas generated $64.9 million, down 86%; and the Encore Boston Harbor brought in nothing because it was closed for the entire quarter.
"Our leadership team continues to work closely with our host communities, fellow industry leaders, and world-class medical experts to implement and advance strategies to mitigate the impact of the virus on our team members, our guests and our broader communities," said Wynn CEO Matt Maddox. "In Macau, the authorities have begun to gradually and thoughtfully ease some visitation restrictions, and we are confident the market will benefit from the return of the Chinese consumer as we move through the back half of 2020."
Maddox said that the company has been testing employees for Covid-19 in an effort to run their resorts, and that only 2% of the 300 employees have come back positive. He maintains that the company is doing everything they can to safely operate their properties.