Wynn Resorts, Limited


SKU: WYNN-1 Category:


Wynn Resorts delivered a positive result and managed an all-around beat in the last quarter. During the quarter, Wynn Las Vegas generated $224.1 million in adjusted property EBITDA on $578.1 million in operating revenue, resulting in an EBITDA margin of 38.8%. The company’s hotel income climbed in the quarter, attributable to an increase of 24,000 occupied room nights due to rooms out of service for refurbishment in Q2 2022. Wynn’s non-gaming companies had broad-based strength in food and beverage, entertainment, and retail. In the casino, their GGR climbed year over year, led by a significant increase in slot handles and roughly flat table drops. Like Vegas, Encore had a successful quarter, producing an all-time property high in EBITDAR. Their team is currently moving forward with their East of Broadway expansion project on the Boston development front. Their non-gaming retail business is still booming, with tenant retail sales up 47% from the second quarter of 2019. Macau’s market-wide GGR momentum has been excellent and increasing throughout the quarter. Additionally, Wynn Resorts had strong hotel occupancy and excellent tenant retail sales in July. The company further entered a strategic partnership deal with Preferred Hotels & Resorts.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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