Macau Operations accounted for $885.318 million in operating revenues for the three months ended June 30, 2024, compared to $769.943 million for the same period in 2023, representing an increase of 15.0%. This growth is attributed to higher visitation following the elimination of COVID-19 related protective measures.

Las Vegas Operations generated $628.654 million in operating revenues for the three months ended June 30, 2024, compared to $578.072 million for the same period in 2023, representing an increase of 8.8%. This growth is primarily due to increases in ADR and restaurant covers.

The company contributed $356.5 million of cash into Island 3, bringing our life-to-date cash contributions to $514.4 million. The cash contributed in the quarter was used primarily to fund our pro rata portion of the purchase of approximately 155 acres of land underlying the Wynn Al Marjan Island integrated resort development site.

As of June 30, 2024, management believes the Company was in compliance with all debt covenants.

During the three and six months ended June 30, 2024, the Company repurchased 741,340 shares of its common stock at an average price of $91.72 per share, for an aggregate cost of $68.0 million under the equity repurchase program.

The Company paid a cash dividend of $0.25 per share in each of the quarters ended March 31, 2024 and June 30, 2024 and recorded $28.0 million in each period against accumulated deficit. On August 6, 2024, the Company's Board of Directors declared a cash dividend of $0.25 per share on its common stock, payable on August 30, 2024.

The Company and its affiliates are involved in litigation arising in the normal course of business, including a securities class action and regulatory inquiries about compliance with anti-money laundering laws. The Company is unable to predict the outcome of the investigation, the extent of the materiality of the outcome, or reasonably estimate the possible range of loss.

Approximately 75.4% of the Company's markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in the countries in which the Company's customers reside could affect the collectability of such receivables.

The company's business is subject to extensive regulation and the cost of compliance or failure to comply with applicable laws and regulations.

The company faces competition in the casino/hotel and resort industries and actions taken by our competitors, including new development and construction activities of competitors.

The company's dependence on a limited number of resorts and locations for all of our cash flow and our subsidiaries' ability to pay us dividends and distributions.

The company's win rates for our gaming operations.

The increase in total operating expenses was primarily due to increased operating costs associated with higher business volumes at our properties, partially offset by decreased entertainment, retail and other expenses related to Wynn Interactive following the closure of WynnBET, Wynn Interactive's digital sports betting and casino gaming business, in certain jurisdictions.

The company attempts to manage interest rate risk by managing the mix of long-term fixed rate borrowings and variable rate borrowings, supplemented by hedging activities as believed by us to be appropriate.

In order to mitigate exposure to interest rate fluctuations on the Retail Term Loan, the Company entered into an interest rate collar with a notional value of $615.0 million. The interest rate collar establishes a range whereby the Company will pay the counterparty if one-month SOFR falls below the established floor rate of 1.00%, and the counterparty will pay the Company if one-month SOFR exceeds the ceiling rate of 3.67%.

Entertainment, retail and other revenues decreased $11.2 million, primarily due to a decrease in operating revenues at Wynn Interactive of $19.5 million following the closure of Wynn Interactive's digital sports betting and casino gaming business in certain jurisdictions.

The company's ability to protect our intellectual property rights.

The company contributed $356.5 million of cash into Island 3, bringing our life-to-date cash contributions to $514.4 million. The cash contributed in the quarter was used primarily to fund our pro rata portion of the purchase of approximately 155 acres of land underlying the Wynn Al Marjan Island integrated resort development site.

During the three and six months ended June 30, 2024, the Company repurchased 741,340 shares of its common stock at an average price of $91.72 per share, for an aggregate cost of $68.0 million under the equity repurchase program.

The Company paid a cash dividend of $0.25 per share in each of the quarters ended March 31, 2024 and June 30, 2024 and recorded $28.0 million in each period against accumulated deficit. On August 6, 2024, the Company's Board of Directors declared a cash dividend of $0.25 per share on its common stock, payable on August 30, 2024.

Casino revenues increased primarily due to higher mass market volumes at our Macau Operations which continued to benefit from higher visitation following the elimination of COVID-19 related protective measures by Macau authorities in January 2023.

Fluctuations in the exchange rates resulting in weakening of the Macau pataca or the Hong Kong dollar in relation to the U.S. dollar could have materially adverse effects on our results, financial condition and ability to service debt.

Changes in and compliance with the gaming laws or regulations in the various jurisdictions in which we operate.