Casino magnate Steve Wynn described President Barack Obama as a "wet blanket" to business in the US during his company's earnings conference call this week.
Wynn Resorts saw its second-quarter revenues jump over $300m thanks to the strong performance of its properties in both Las Vegas and Macau.
Net revenues for the three months to June 30 stood at $1.37bn, up from $1.03bn in the same period last year. Revenues were driven by a 36.7 per cent increase in revenues at Wynn Macau and a 22.8 per cent increase from the company’s Las Vegas operations.
Property EBITDA, meanwhile, was $447m, 58.9 per cent above the $281.4m recorded in the second quarter of 2010.
Yet, despite the company’s positive results, Steve Wynn criticised President Obama’s economic policies and attitude towards the business community.
"I’m saying it bluntly, that this administration is the greatest wet blanket to business and progress and job creation in my lifetime," he said. "The guy [Obama] keeps making speeches about redistribution and maybe we ought to do something to businesses that don’t invest or hold too much money. We haven’t heard that kind of talk except from pure socialists."
