Wynn Resorts, Limited


SKU: WYNN Category:


Wynn Resorts delivered a solid result and managed an all-around beat in the last quarter. In the realm of Wynn Las Vegas, they reported a commendable performance in the third quarter. Notably, this achievement was achieved amidst provisions for anticipated rises related to the new Culinary Union agreement. The quarter showcased frenetic activity across various facets, witnessing increased hotel occupancy, restaurant covers, casino visitation, table drop, and slot handle, all surpassing the formidable third quarter of 2022. The vigor translated into significant third-quarter figures for gross gaming, food and beverage, and hotel revenue, yielding a noteworthy 10% year-over-year growth in RevPAR. Wynn Las Vegas anticipates a promising trajectory with a formidable forward group demand pipeline, robust gaming market share, and an exciting programming calendar featuring F1 and the Super Bowl. Meanwhile, Encore Boston exhibited stability, generating $60 million of EBITDAR in the quarter, with slight year-on-year revenue and EBITDAR declines offset by notable successes in slot handle and hotel revenue. The developments extend beyond gaming, with non-gaming sectors such as retail and hotel revenue experiencing impressive growth. Forward-looking, Wynn continues its commitment to capital projects in Macau, including an anticipated multimedia exhibit space collaboration and ongoing construction of Wynn Al Marjan Island in the UAE.

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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