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Sep 30, 2024
Wynn Resorts Q3 2024 Earnings Report
Reported healthy demand across resorts with strong mass gaming win in Macau and solid non-gaming performance in Las Vegas. Investments in properties and team continue to extend leadership position in each market. Increased share repurchase authorization to $1 billion.
Key Takeaways
Wynn Resorts reported Q3 2024 operating revenues of $1.69 billion, a slight increase from $1.67 billion in Q3 2023. The net loss attributable to Wynn Resorts was $32.1 million, an improvement from the $116.7 million loss in the same quarter last year. Adjusted Property EBITDAR was $527.7 million, slightly lower than the $530.4 million reported in Q3 2023.
Operating revenues increased to $1.69 billion, up from $1.67 billion in the third quarter of 2023.
Net loss attributable to Wynn Resorts was $32.1 million, compared to a net loss of $116.7 million in the third quarter of 2023.
Adjusted Property EBITDAR was $527.7 million, a slight decrease from $530.4 million in the third quarter of 2023.
Board of Directors increased share repurchase authorization to $1 billion.
Wynn Resorts
Wynn Resorts
Wynn Resorts Revenue by Segment
Revenue by Segment
Casino Revenue
CapyFin.comRooms Revenue
CapyFin.comFood & Beverage Revenue
CapyFin.comEntertainment & Other Revenue
CapyFin.comWynn Palace Revenue
CapyFin.comWynn Macau Revenue
CapyFin.comLas Vegas Ops Revenue
CapyFin.comEncore Boston Harbor Revenue
CapyFin.com Forward Guidance
Wynn Al Marjan Island is expected to open in 2027 and is projected to be a 'must-see' tourism destination in the UAE, supporting strong long-term free cash flow growth.
Positive Outlook
- Wynn Al Marjan Island expected to open in 2027.
- Projected to be a 'must-see' tourism destination in the UAE.
- Expected to support strong long-term free cash flow growth.
- Company is continuing to invest in growing the business.
- Company is increasing the return of capital to shareholders through recurring dividend and opportunistic share repurchases.
Challenges Ahead
- Reductions in discretionary consumer spending
- Adverse macroeconomic conditions and their impact on levels of disposable consumer income and wealth
- Changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies
- 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, travel disruptions caused by events outside of our control
Revenue & Expenses
Visualization of income flow from segment revenue to net income