Press release
Wynn Resorts, Limited Reports First Quarter 2025 Results
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the first quarter
About this update from Wynn Resorts, Limited
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nWynn Resorts, Limited (NASDAQ: WYNN) (\"Wynn Resorts\" or the \"Company\") today reported financial results for the first quarter ended March 31, 2025.\n\nOperating revenues were $1.70 billion for the first quarter of 2025, a decrease of $162.5 million from $1.86 billion for the first quarter of 2024. Net income attributable to Wynn Resorts, Limited was $72.7 million for the first quarter of 2025, compared to net income attributable to Wynn Resorts, Limited of $144.2 million for the first quarter of 2024. Diluted net income per share was $0.69 for the first quarter of 2025, compared to diluted net income per share of $1.30 for the first quarter of 2024. Adjusted Property EBITDAR(1) was $532.9 million for the first quarter of 2025, compared to Adjusted Property EBITDAR of $646.5 million for the first quarter of 2024.\n\n\"Our first quarter results reflect continued strength throughout our business,\" said Craig Billings, CEO of Wynn Resorts, Limited. \"In Las Vegas, where we recently celebrated the resort's 20th anniversary, the team delivered healthy results against a record prior year comparison which reflected the Las Vegas Super Bowl. In Macau, while VIP hold negatively impacted results, we held market share in our expected range, and announced an increased dividend from Wynn Macau, Limited, reflecting the strong free cash flow generated by the business. In addition, construction of our growth project in the UAE, Wynn Al Marjan Island, continued to advance with the hotel tower reaching the forty-seventh floor. At the same time we continued to return capital to shareholders through our regular quarterly dividend and the repurchase of $200 million of stock in the quarter.\"\n\nConsolidated Results\n\nOperating revenues were $1.70 billion for the first quarter of 2025, a decrease of $162.5 million from $1.86 billion for the first quarter of 2024. For the first quarter of 2025, operating revenues decreased $81.8 million, $51.0 million, $11.3 million, and $8.6 million at Wynn Macau, Wynn Palace, our Las Vegas Operations, and Encore Boston Harbor, respectively, from the first quarter of 2024.\n\nNet income attributable to Wynn Resorts, Limited was $72.7 million for the first quarter of 2025, compared to net income attributable to Wynn Resorts, Limited of $144.2 million for the first quarter of 2024. D...