Wynn Resorts: Macau Operations, New Expansion In UAE & Other Future Growth Drivers

The first quarter of 2024 marked a period of continued momentum for Wynn Resorts. The company’s earnings call transcript highlighted several significant developments, representing positive and negative factors that could be relevant for potential investors. Starting on the bright side, Wynn Resorts reported an all-time record property EBITDAR of $647 million during Q1 2024, owing to the company’s solid team delivering five-star service and unique experiences to their guests. Notably, Wynn Las Vegas achieved a Q1 record of $246 million adjusted property EBITDAR, a 6% increase YoY, driven primarily by impressive performance across the non-gaming businesses and a 21% growth in hotel revenue.