Wynn Resorts, Limited (WYNN)

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.

  1. Filings

Filing Highlights

Financial Performance

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.

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