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Sep 30, 2023
Wynn Resorts Q3 2023 Earnings Report
Reported continued strength across the property portfolio, with record Adjusted Property EBITDAR at North American properties and ongoing recovery in Macau.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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