Wynn's Results Are a Tale of Two Cities
Las Vegas couldn't be going much better for Wynn Resorts (NASDAQ: WYNN). The company generated a whopping $226.7 million of adjusted EBITDA (a proxy for cash flow from a casino/resort) in the second quarter of 2022, nearly double what it generated a year ago.
Across the Pacific Ocean, Macao has been a huge drag on Wynn and the entire casino industry. Adjusted EBITDA was a negative $90.4 million due to more lockdowns and an uncertain future. The casino industry today really is a tale of two cities.
Image source: Wynn Resorts.
Source Fool.com