Press release
Wynn Resorts, Limited Reports Second Quarter 2023 Results
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the second 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 second quarter ended June 30, 2023.\n\n\nOperating revenues were $1.60 billion for the second quarter of 2023, an increase of $687.0 million from $908.8 million for the second quarter of 2022. Net income attributable to Wynn Resorts, Limited was $105.2 million for the second quarter of 2023, compared to net loss attributable to Wynn Resorts, Limited of $130.1 million for the second quarter of 2022. Diluted net income per share was $0.84 for the second quarter of 2023, compared to diluted net loss per share of $1.14 for the second quarter of 2022. Adjusted Property EBITDAR(1) was $524.5 million for the second quarter of 2023, compared to Adjusted Property EBITDAR of $179.2 million for the second quarter of 2022.\n\n\n\"Our second quarter results reflect continued strength in North America and Macau,\" said Craig Billings, CEO of Wynn Resorts, Limited. \"In the U.S., Wynn Las Vegas and Encore Boston Harbor continue to perform well, generating a new second quarter record for Adjusted Property EBITDAR at our combined North American properties. In Macau, the post-COVID recovery accelerated during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses. On the development front, we were excited to begin construction on Wynn Al Marjan Island, which we believe will be a 'must see' tourism destination in the UAE.\"\n\n\nConsolidated Results\n\n\nOperating revenues were $1.60 billion for the second quarter of 2023, an increase of $687.0 million from $908.8 million for the second quarter of 2022. For the second quarter of 2023, operating revenues increased $409.7 million, $243.0 million, $17.0 million, $11.8 million, and $5.5 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, Encore Boston Harbor, and Wynn Interactive, respectively, from the second quarter of 2022.\n\n\nNet income attributable to Wynn Resorts, Limited was $105.2 million for the second quarter of 2023, compared to net loss attributable to Wynn Resorts, Limited of $130.1 million for the second quarter of 2022. Diluted net income per share was $0.84 for the second quarter of 2023, compared to diluted net loss per share of $1.14 for the second quarter of 2022. Adjusted net income attri...