Wynn Resorts Q4 2021 Earnings Report
Key Takeaways
Wynn Resorts, Limited reported financial results for the fourth quarter and year ended December 31, 2021. Operating revenues were $1.05 billion for the fourth quarter of 2021, an increase of 53.5% from $686.0 million for the fourth quarter of 2020. Net loss attributable to Wynn Resorts, Limited was $177.2 million for the fourth quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $269.5 million in the fourth quarter of 2020. Adjusted Property EBITDA was $149.1 million for the fourth quarter of 2021, compared to Adjusted Property EBITDA of $69.8 million in the fourth quarter of 2020.
Operating revenues increased by 53.5% to $1.05 billion for the fourth quarter of 2021.
Net loss attributable to Wynn Resorts, Limited was $177.2 million, or $1.54 per diluted share, for the fourth quarter of 2021.
Adjusted Property EBITDA was $149.1 million for the fourth quarter of 2021.
Wynn Las Vegas and Encore Boston Harbor delivered record Adjusted Property EBITDA.
Wynn Resorts
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Wynn Resorts Revenue by Segment
Forward Guidance
Company expects to receive cash consideration of $1.7 billion from sale-leaseback arrangement with respect to certain real estate assets related to Encore Boston Harbor. The lease agreement provides for an initial annual minimum rent of $100 million for an initial term of 30 years, subject to certain annual rent escalations and renewal provisions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income