Net revenues for the first quarter of 2011 were $1,260.3 million, compared to $908.9 million in the first quarter of 2010. The revenue increase was driven by a 46.6% increase in revenues at Wynn Macau and a 24.0% revenue increase from our Las Vegas operations.
Net revenues for the year ended 2010 increased 37.4% to $4,184.7 million, compared to $3,045.6 million in 2009.
The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) today published a joint Exposure Draft (ED) on lease accounting.The ED, if finalized, would represent a fundamental change in how lessees and lessors account for their leasing transactions.