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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.
Revenue by Segment
Revenue by Geographic Location
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
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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