Press release
Wynn Resorts, Limited Reports First Quarter 2022 Results
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (NASDAQ: WYNN) (the "Company") today reported financial results for the quarter ended March 31, 2022.
About this update from Wynn Resorts, Limited
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nWynn Resorts, Limited (NASDAQ: WYNN) (the \"Company\") today reported financial results for the quarter ended March 31, 2022.\n\nOperating revenues were $953.3 million for the first quarter of 2022, an increase of $216.7 million, from $736.7 million for the first quarter of 2021. Net loss attributable to Wynn Resorts, Limited was $183.3 million, or $1.59 per diluted share, for the first quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $281.0 million, or $2.53 per diluted share, in the first quarter of 2021. Adjusted Property EBITDA(1) was $177.6 million for the first quarter of 2022, compared to Adjusted Property EBITDA of $58.9 million in the first quarter of 2021.\n\n\"Our first quarter results reflect continued strength at both Wynn Las Vegas and Encore Boston Harbor where our teams' unrelenting focus on five star hospitality and world class experiences combined with very strong customer demand to deliver a new first quarter record for Adjusted Property EBITDA at both properties,\" said Craig Billings, CEO of Wynn Resorts, Limited. \"In Macau, we remain confident that the market will benefit from the return of visitation when travel restrictions subside.\"\n\nConsolidated Results\n\nOperating revenues were $953.3 million for the first quarter of 2022, an increase of $216.7 million, from $736.7 million for the first quarter of 2021. For the first quarter of 2022, operating revenues increased $262.5 million and $60.7 million at our Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $74.0 million and $44.6 million at Wynn Palace and Wynn Macau, respectively, from the first quarter of 2021.\n\nNet loss attributable to Wynn Resorts, Limited was $183.3 million, or $1.59 per diluted share, for the first quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $281.0 million, or $2.53 per diluted share, in the first quarter of 2021. Adjusted net loss attributable to Wynn Resorts, Limited(2) was $139.6 million, or $1.21 per diluted share, for the first quarter of 2022, compared to adjusted net loss attributable to Wynn Resorts, Limited of $268.0 million, or $2.41 per diluted share, for the first quarter of 2021.\n\nAdjusted Property EBITDA was $177.6 million for the first quarter of 2022, compared to Adjusted Property EBITDA of $...