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Dec 31, 2024
Wynn Resorts Q4 2024 Earnings Report
Wynn Resorts reported stable revenue but saw a sharp decline in net income due to the absence of a prior-year tax benefit.
Key Takeaways
Wynn Resorts maintained revenue at $1.84B in Q4 2024, with strong performance in Las Vegas and Macau. However, net income dropped significantly, largely due to the absence of a $474.2M tax benefit recorded in Q4 2023. Adjusted Property EBITDAR declined slightly by 1.79% YoY.
Revenue remained flat at $1.84B compared to Q4 2023.
Net income fell 61.99% YoY due to the absence of last year’s tax benefit.
Adjusted EPS increased 26.70% YoY to $2.42.
Macau and Las Vegas operations continued to show strong market share.
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 Resorts is confident in long-term growth, supported by expansion in Macau and UAE while maintaining strong market share in key segments.
Positive Outlook
- Continued market share strength in Macau and Las Vegas.
- Strong performance in premium mass and VIP gaming.
- Progress on Wynn Al Marjan Island, set to open in 2027.
- Commitment to shareholder returns through dividends and buybacks.
- Stable operational performance despite economic uncertainties.
Challenges Ahead
- Net income decline due to absence of prior tax benefits.
- Adjusted EBITDAR slightly declined YoY.
- Minor revenue drop in Encore Boston Harbor and Wynn Macau.
- Higher competition in Macau impacting table game performance.
- Ongoing construction costs for new projects affecting cash flow.
Revenue & Expenses
Visualization of income flow from segment revenue to net income