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Dec 31, 2019
Wynn Resorts Q4 2019 Earnings Report
Reported a decrease in operating revenues and a net loss attributable to Wynn Resorts, Limited for Q4 2019.
Key Takeaways
Wynn Resorts, Limited reported operating revenues of $1.65 billion for the fourth quarter of 2019, a decrease of 2.0% compared to the fourth quarter of 2018. The company experienced a net loss attributable to Wynn Resorts, Limited of $72.9 million, or $0.68 per diluted share, compared to net income of $464.9 million, or $4.31 per diluted share, in the fourth quarter of 2018.
Delivered solid financial results in the fourth quarter of 2019, with Adjusted Property EBITDA growing nearly 12% sequentially compared to the third quarter.
Investments in Macau position the company well to compete in any market environment, supported by another quarter of record mass table win.
Strategy at Wynn Las Vegas is producing results, driving year-over-year volume growth in the domestic gaming business along with 3% growth in RevPAR.
Encore Boston Harbor continues to ramp, nearly doubling its Adjusted Property EBITDA sequentially.
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
The company is focused on leveraging its premium-focused business model to drive long-term returns for shareholders. In February 2020, they are opening their meeting and convention expansion at Wynn Las Vegas.
Positive Outlook
- New Lakeside Casino at Wynn Macau launched.
- Meeting and convention expansion in Las Vegas is complete.
- First groups are welcomed to the new space.
- Premium-focused business model.
- Focus on long-term returns for shareholders.
Challenges Ahead
- Extensive regulation of business.
- Pending or future legal proceedings.
- Ability to maintain gaming licenses and concessions.
- Dependence on key employees.
- General global political and economic conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income