Wynn Resorts Q3 2023 Earnings Report
Key Takeaways
Wynn Resorts reported operating revenues of $1.67 billion for Q3 2023, a significant increase from $889.7 million in Q3 2022. The company's net loss attributable to Wynn Resorts, Limited decreased to $116.7 million, compared to a net loss of $142.9 million in the same quarter of the previous year. Adjusted Property EBITDAR was $530.4 million, a substantial rise from $173.5 million in Q3 2022.
Operating revenues increased to $1.67 billion, up from $889.7 million year-over-year.
Net loss attributable to Wynn Resorts, Limited decreased to $116.7 million, compared to $142.9 million year-over-year.
Adjusted Property EBITDAR increased to $530.4 million, up from $173.5 million year-over-year.
Wynn Las Vegas and Encore Boston Harbor delivered a new third-quarter record for Adjusted Property EBITDAR at combined North American properties.
Wynn Resorts
Wynn Resorts
Wynn Resorts Revenue by Segment
Forward Guidance
This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, adverse macroeconomic conditions and their impact on levels of income and consumer discretionary spending, changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies, uncertainty surrounding the pace of recovery of tourism and travel in Asia following the COVID-19 pandemic, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, general global political conditions, adverse tourism trends, dependence on a limited number of resorts, competition in the casino/hotel and resort industries, uncertainties over the development and success of new gaming and resort properties, construction risks, cybersecurity risk and our leverage and debt service.
Revenue & Expenses
Visualization of income flow from segment revenue to net income