Wynn Resorts Q4 2020 Earnings Report
Key Takeaways
Wynn Resorts' operating revenues for Q4 2020 were $686.0 million, a 58.5% decrease compared to Q4 2019. The net loss attributable to Wynn Resorts was $269.5 million, or $2.53 per diluted share, compared to a net loss of $72.9 million, or $0.68 per diluted share, in Q4 2019. Adjusted Property EBITDA was $69.8 million for the quarter, down from $443.1 million in the prior year.
Operating revenues decreased by 58.5% compared to the fourth quarter of 2019, totaling $686.0 million.
Net loss attributable to Wynn Resorts, Limited was $269.5 million, or $2.53 per diluted share.
Adjusted Property EBITDA was $69.8 million, a decrease from $443.1 million in the fourth quarter of 2019.
WynnBet online casino and sports betting app is currently available in three states with additional launches planned.
Wynn Resorts
Wynn Resorts
Wynn Resorts Revenue by Segment
Forward Guidance
Wynn Resorts is encouraged by the progress made at each of its properties and is focused on cost management and the development of its WynnBet online casino and sports betting app.
Positive Outlook
- Gradual easing of visitation restrictions in Macau.
- Return to Adjusted Property EBITDA profitability in Macau.
- Strength in premium mass business in Macau.
- Resilient operations at Wynn Las Vegas and Encore Boston Harbor.
- Successful launches of WynnBet in Colorado and Michigan.
Challenges Ahead
- COVID-19 pandemic continues to impact operations.
- Travel-related restrictions and conditions remain in place.
- Uncertainty regarding when certain protective measures will be lifted.
- Operating hours limited at Encore Boston Harbor.
- Hotel tower temporarily closed at Encore Boston Harbor.
Revenue & Expenses
Visualization of income flow from segment revenue to net income