Press release
Wynn Resorts, Limited Reports Fourth Quarter and Year End 2021 Results
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (NASDAQ: WYNN) (the "Company") today reported financial results for the fourth quarter and year ended
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 fourth quarter and year ended December 31, 2021.\n\nOperating revenues were $1.05 billion for the fourth quarter of 2021, an increase of 53.5%, or $367.1 million, from $686.0 million for the fourth quarter of 2020. Net loss attributable to Wynn Resorts, Limited was $177.2 million, or $1.54 per diluted share, for the fourth quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $269.5 million, or $2.53 per diluted share, in the fourth quarter of 2020. Adjusted Property EBITDA(1) 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.\n\n\"I’m proud of our teams at both Wynn Las Vegas and Encore Boston Harbor for delivering record Adjusted Property EBITDA at both properties during the fourth quarter,\" said Craig Billings, CEO of Wynn Resorts, Limited. \"Our relentless focus on five-star hospitality and world class experiences allowed us to further extend our leadership positions in Las Vegas and Massachusetts in 2021. In Macau, we remain confident that the market will benefit from the return of visitation over the coming quarters.\n\n\"On the development front, we were excited to announce our plans to develop and manage a luxury integrated resort in the UAE, along with our partners, Marjan and RAK Hospitality Holding. The project further diversifies our business, extending our brand into the Middle East and Europe. We look forward to creating the one-of-a-kind guest experiences for which Wynn Resorts is renowned, and contributing to tourism and employment growth in the region.\"\n\nConsolidated Results\n\nOperating revenues were $1.05 billion for the fourth quarter of 2021, an increase of 53.5%, or $367.1 million, from $686.0 million for the fourth quarter of 2020. Operating revenues increased $321.4 million and $100.1 million at our Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $27.5 million and $50.2 million at Wynn Palace and Wynn Macau, respectively, from the fourth quarter of 2020.\n\nNet loss attributable to Wynn Resorts, Limited was $177.2 million, or $1.54 per diluted share, for the fourth quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of...