Sector: Consumer Discretionary|Industry: Resorts & Casinos|Market Cap: $9.21B|Employees: 28K
Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays. The Wynn Macau segment operates casino space with private gaming salons, sky casinos, and a poker room; a luxury hotel tower, that include health clubs, spas, a salon, and a pool; food and beverage outlets; retail space; meeting and convention space; and Chinese zodiac-inspired ceiling attractions. The Las Vegas Operations segment operates casino space with private gaming salons, a sky casino, a poker room, and a race and sports book; a luxury hotel tower with suites, and villas, including swimming pools, private cabanas, full-service spas and salons, and a wedding chapel; food and beverage outlets; meeting and convention space; retail space; and theaters, nightclubs, a beach club. The Encore Boston Harbor segment operates casino space with gaming areas, and a poker room; a luxury hotel tower including a spa and salon; food and beverage outlets and a nightclub; retail space; meeting and convention space; and a waterfront park, floral displays, and water shuttle service. Wynn Resorts, Limited was incorporated in 2002 and is based in Las Vegas, Nevada.
Total operating revenues increased by 1.3% YoY to $1.693B, driven by a 6.3% increase in Macau Operations. However, Las Vegas Operations saw a 1.9% decrease in revenue, offsetting some of the gains.
Net loss attributable to Wynn Resorts, Limited decreased from $(116.678) million to $(32.053) million YoY. This improvement was primarily due to a decrease in operating expenses, partially offset by forfeitures related to the non-prosecution agreement with the U.S. Attorney's Office.
Casino revenues increased by 4.8% YoY to $1.019B, while non-casino revenues decreased by 3.6% YoY to $674.6M. This shift indicates a greater reliance on gaming for revenue generation during the quarter.