Gambling Operator Wynn Resorts Is Targeting A 22% Revenue Hike By 2021

Gambling Operator Wynn Resorts Is Targeting A 22% Revenue Hike By 2021

Gambling and hospitality giant, Wynn Resorts, is expecting a 22 percent hike in its gambling revenue by 2021. The company is positive about its growth opportunities.

In a meet on the occasion of annual analyst and investor day at the newly opened Everett casino, the gambling operator said that they believe that their revenue will grow by 22 percent in the next two years and its EBITDA (earnings before interest, taxes, depreciation, and amortization) will increase by 28%.

Wynn Resorts has been facing troubles, and fines from gambling operators after allegations of sexual misconduct against their former CEO Steve Wynn came into light.

Both the Nevada Gaming Commission and the Massachusetts Gaming Commission levied a fine of $20 million and $35 million respectively. The company was fined for downplaying and not reporting the cases of sexual misconduct against their former CEO.

Wynn’s Ceo Matthew Maddox was also fined by the Massachusetts Gaming Commission separately for being complicit in not reporting allegations of sexual misconduct.

The company’s new Encore casino in Massachusetts started welcoming guests from June 23.

Wynn is also in the race of an IR license in Japan. The company has already applied for a license with Osaka prefecture.

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