Wynn Resorts, Limited Reports Second Quarter 2024 Results

By: Wynn Resorts, Limited via Business Wire

August 06, 2024 at 16:02 PM EDT

Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the second quarter ended June 30, 2024.

Operating revenues were $1.73 billion for the second quarter of 2024, an increase of $137.1 million from $1.60 billion for the second quarter of 2023. Net income attributable to Wynn Resorts, Limited was $111.9 million for the second quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $105.2 million for the second quarter of 2023. Diluted net income per share was $0.91 for the second quarter of 2024, compared to diluted net income per share of $0.84 for the second quarter of 2023. Adjusted Property EBITDAR⁽¹⁾ was $571.7 million for the second quarter of 2024, compared to Adjusted Property EBITDAR of $524.5 million for the second quarter of 2023.

"Our second quarter results, including a new second quarter record for Adjusted Property EBITDAR, reflect continued strength throughout our business. I am incredibly proud of our teams in Las Vegas, Macau and Boston," said Craig Billings, CEO of Wynn Resorts, Limited. "Importantly, we continue to invest in growing the business, with construction on Wynn Al Marjan Island in the UAE progressing at a rapid pace. During the quarter, we also finalized a transaction to acquire our pro-rata share of the land on Al Marjan Island Three, including a sizable land bank for potential future development opportunities for Wynn Resorts or for selected third parties complementary to Wynn Al Marjan."

Consolidated Results

Operating revenues were $1.73 billion for the second quarter of 2024, an increase of $137.1 million from $1.60 billion for the second quarter of 2023. For the second quarter of 2024, operating revenues increased $79.7 million, $35.7 million, $50.6 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively, and decreased $9.3 million at Encore Boston Harbor, from the second quarter of 2023.

Net income attributable to Wynn Resorts, Limited was $111.9 million for the second quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $105.2 million for the second quarter of 2023. Diluted net income per share was $0.91 for the second quarter of 2024, compared to diluted net income per share of $0.84 for the second quarter of 2023. Adjusted net income attributable to Wynn Resorts, Limited⁽²⁾ was $124.5 million, or $1.12 per diluted share, for the second quarter of 2024, compared to adjusted net income attributable to Wynn Resorts, Limited of $103.3 million, or $0.91 per diluted share, for the second quarter of 2023.

Adjusted Property EBITDAR was $571.7 million for the second quarter of 2024, an increase of $47.2 million compared to Adjusted Property EBITDAR of $524.5 million for the second quarter of 2023. For the second quarter of 2024, Adjusted Property EBITDAR increased $27.9 million, $6.3 million, and $6.2 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively, and decreased $7.0 million at Encore Boston Harbor, from the second quarter of 2023.

Wynn Resorts, Limited also announced today that its Board of Directors has declared a cash dividend of $0.25 per share, payable on August 30, 2024 to stockholders of record as of August 19, 2024.

Property Results

Macau Operations

Wynn Palace

Operating revenues from Wynn Palace were $548.0 million for the second quarter of 2024, an increase of $79.7 million from $468.4 million for the second quarter of 2023. Adjusted Property EBITDAR from Wynn Palace was $184.5 million for the second quarter of 2024, compared to $156.6 million for the second quarter of 2023. Table games win percentage in mass market operations was 23.6%, above the 20.3% experienced in the second quarter of 2023. VIP table games win as a percentage of turnover was 4.10%, above the property's expected range of 3.1% to 3.4% and below the 4.24% experienced in the second quarter of 2023.

Wynn Macau

Operating revenues from Wynn Macau were $337.3 million for the second quarter of 2024, an increase of $35.7 million from $301.6 million for the second quarter of 2023. Adjusted Property EBITDAR from Wynn Macau was $95.9 million for the second quarter of 2024, compared to $89.6 million for the second quarter of 2023. Table games win percentage in mass market operations was 17.5%, below the 17.7% experienced in the second quarter of 2023. VIP table games win as a percentage of turnover was 2.19%, below the property's expected range of 3.1% to 3.4% and below the 4.16% experienced in the second quarter of 2023.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $628.7 million for the second quarter of 2024, an increase of $50.6 million from $578.1 million for the second quarter of 2023. Adjusted Property EBITDAR from our Las Vegas Operations for the second quarter of 2024 was $230.3 million, compared to $224.1 million for the second quarter of 2023. Table games win percentage for the second quarter of 2024 was 21.9%, slightly below the property's expected range of 22% to 26% and below the 22.9% experienced in the second quarter of 2023.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $212.6 million for the second quarter of 2024, a decrease of $9.3 million from $221.9 million for the second quarter of 2023. Adjusted Property EBITDAR from Encore Boston Harbor for the second quarter of 2024 was $62.1 million, compared to $69.1 million for the second quarter of 2023. Table games win percentage for the second quarter of 2024 was 19.6%, within the property's expected range of 18% to 22% and below the 22.3% experienced in the second quarter of 2023.

Wynn Al Marjan Island Development

During the second quarter of 2024, the Company contributed $356.5 million of cash into a 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing our life-to-date cash contributions to the project to $514.4 million. The cash contributed in the quarter was used primarily to fund our pro rata portion of the purchase of approximately 155 acres of land underlying the integrated resort development site, including over 70 acres of land for potential future development in Ras Al Khaimah. Wynn Al Marjan Island is currently expected to open in 2027.

Balance Sheet

Our cash and cash equivalents as of June 30, 2024 totaled $2.38 billion, comprised of $1.38 billion held by Wynn Macau, Limited ("WML") and subsidiaries, $281.1 million held by Wynn Resorts Finance, LLC ("WRF") and subsidiaries excluding WML, and $715.6 million held at Corporate and other. In addition, as of June 30, 2024, we had $500.0 million in short-term investments held at WML. As of June 30, 2024, the available borrowing capacity under the WRF Revolver and the WM Cayman II Revolver was $735.3 million and $312.2 million, respectively.

Total current and long-term debt outstanding at June 30, 2024 was $11.03 billion, comprised of $6.44 billion of Macau related debt, $1.46 billion of Wynn Las Vegas debt, $2.52 billion of WRF debt, and $614.4 million of debt held by the retail joint venture which we consolidate.

During the second quarter of 2024, the Company repurchased 741,340 shares of its common stock under its publicly announced equity repurchase program at an average price of $91.72 per share, for an aggregate cost of $68.0 million. As of June 30, 2024, the Company had $365.4 million in repurchase authority remaining under the program.

Conference Call and Other Information

The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on August 6, 2024 at 1:30 p.m. PT (4:30 p.m. ET). Interested parties are invited to join the call by accessing a live audio webcast at http://www.wynnresorts.com. On or before August 14, 2024, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended June 30, 2024 available to noteholders, prospective investors, broker-dealers and securities analysts. Please contact our investor relations office at 702-770-7555 or at investorrelations@wynnresorts.com, to obtain access to such financial information.

Forward-looking Statements

This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, reductions in discretionary consumer spending, adverse macroeconomic conditions and their impact on levels of disposable consumer income and wealth, changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, general global political conditions, adverse tourism trends, travel disruptions caused by events outside of our control, dependence on a limited number of resorts, competition in the casino/hotel and resort industries, uncertainties over the development and success of new gaming and resort properties, construction and regulatory risks associated with current and future projects (including Wynn Al Marjan Island), cybersecurity risk and our leverage and ability to meet our debt service obligations. Additional information concerning potential factors that could affect the Company's financial results is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as supplemented by the Company's other periodic reports filed with the Securities and Exchange Commission from time to time. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures

(1) "Adjusted Property EBITDAR" is net income before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other, triple-net operating lease rent expense related to Encore Boston Harbor, management and license fees, corporate expenses and other (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on debt financing transactions, and other non-operating income and expenses. Adjusted Property EBITDAR is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDAR as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors, as well as a basis for determining certain incentive compensation. We also present Adjusted Property EBITDAR because it is used by some investors to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDAR as a supplement to GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their EBITDAR calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDAR should not be considered as an alternative to operating income as an indicator of our performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDAR does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. We have significant uses of cash flows, including capital expenditures, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, our calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

(2) "Adjusted net income attributable to Wynn Resorts, Limited" is net income attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other, change in derivatives fair value, loss on debt financing transactions, and foreign currency remeasurement and other, net of noncontrolling interests and income taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share are presented as supplemental disclosures to financial measures in accordance with GAAP because management believes that these non-GAAP financial measures are widely used to measure the performance, and as a principal basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to net income per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

The Company has included schedules in the tables that accompany this release that reconcile (i) net income attributable to Wynn Resorts, Limited to adjusted net income attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDAR, and (iii) net income attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Operating revenues:
Casino	$	1,008,946		$	912,999		$	2,130,412		$	1,679,991
Rooms		304,521			276,505			631,935			549,034
Food and beverage		281,404			257,036			548,342			489,647
Entertainment, retail and other		138,061			149,282			285,152			300,829
Total operating revenues		1,732,932			1,595,822			3,595,841			3,019,501
Operating expenses:
Casino		614,518			543,643			1,289,957			1,017,028
Rooms		80,538			73,783			162,615			146,485
Food and beverage		221,343			203,922			427,164			384,541
Entertainment, retail and other		62,941			85,999			133,953			178,481
General and administrative		264,727			257,321			536,343			517,093
Provision for credit losses		2,429			(6,640	)		2,516			(7,184	)
Pre-opening		1,558			1,477			3,593			5,955
Depreciation and amortization		176,405			169,962			351,338			338,774
Property charges and other		38,815			16,019			55,763			18,477
Total operating expenses		1,463,274			1,345,486			2,963,242			2,599,650
Operating income		269,658			250,336			632,599			419,851
Other income (expense):
Interest income		34,884			44,127			75,056			84,320
Interest expense, net of amounts capitalized		(174,596	)		(190,243	)		(357,000	)		(377,983	)
Change in derivatives fair value		15,517			24,336			(2,397	)		47,382
Loss on debt financing transactions		—			(3,375	)		(1,561	)		(15,611	)
Other		8,745			6,959			4,023			(23,655	)
Other income (expense), net		(115,450	)		(118,196	)		(281,879	)		(285,547	)
Income before income taxes		154,208			132,140			350,720			134,304
Provision for income taxes		(7,935	)		(4,305	)		(27,949	)		(5,323	)
Net income		146,273			127,835			322,771			128,981
Less: net income attributable to noncontrolling interests		(34,330	)		(22,651	)		(66,612	)		(11,465	)
Net income attributable to Wynn Resorts, Limited	$	111,943		$	105,184		$	256,159		$	117,516
Basic and diluted net income per common share:
Net income attributable to Wynn Resorts, Limited:
Basic	$	1.01		$	0.93		$	2.31		$	1.04
Diluted	$	0.91		$	0.84		$	2.30		$	0.84
Weighted average common shares outstanding:
Basic		110,937			112,889			110,980			112,821
Diluted		111,175			113,198			111,222			113,143

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED
TO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED
(in thousands, except per share data)
(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net income attributable to Wynn Resorts, Limited	$	111,943		$	105,184		$	256,159		$	117,516
Pre-opening expenses		1,558			1,477			3,593			5,955
Property charges and other		38,815			16,019			55,763			18,477
Change in derivatives fair value		(15,517	)		(24,336	)		2,397			(47,382	)
Loss on debt financing transactions		—			3,375			1,561			15,611
Foreign currency remeasurement and other		(8,745	)		(6,959	)		(4,023	)		23,655
Income tax impact on adjustments		(9,684	)		1,502			(10,252	)		10
Noncontrolling interests impact on adjustments		6,135			7,078			(3,892	)		2,830
Adjusted net income attributable to Wynn Resorts, Limited	$	124,505		$	103,340		$	301,306		$	136,672
Adjusted net income attributable to Wynn Resorts, Limited per diluted share	$	1.12		$	0.91		$	2.71		$	1.21

Weighted average common shares outstanding - diluted		111,175			113,198			111,222			113,143

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)

	Three Months Ended June 30, 2024
	Wynn Palace		Wynn Macau		Other Macau			Total Macau Operations		Las Vegas Operations		Encore Boston Harbor			Corporate and Other			Total
Operating income (loss)	$	108,249	$	61,172	$	(7,486	)	$	161,935	$	124,738	$	(17,827	)	$	812		$	269,658
Pre-opening expenses		—		—		—			—		334		515			709			1,558
Depreciation and amortization		55,316		20,035		390			75,741		61,885		31,733			7,046			176,405
Property charges and other		272		883		2			1,157		1,906		(174	)		35,926			38,815
Management and license fees		17,360		10,486		—			27,846		29,675		10,395			(67,916	)		—
Corporate expenses and other		2,005		1,999		5,983			9,987		7,957		1,752			14,014			33,710
Stock-based compensation		1,257		1,336		1,111			3,704		3,838		395			8,230			16,167
Triple-net operating lease rent expense		—		—		—			—		—		35,342			—			35,342
Adjusted Property EBITDAR	$	184,459	$	95,911	$	—		$	280,370	$	230,333	$	62,131		$	(1,179	)	$	571,655

	Three Months Ended June 30, 2023
	Wynn Palace		Wynn Macau		Other Macau			Total Macau Operations		Las Vegas Operations		Encore Boston Harbor			Corporate and Other			Total
Operating income (loss)	$	80,275	$	47,267	$	(5,855	)	$	121,687	$	123,270	$	(11,003	)	$	16,382		$	250,336
Pre-opening expenses		—		—		—			—		—		336			1,141			1,477
Depreciation and amortization		53,908		20,527		380			74,815		57,521		30,198			7,428			169,962
Property charges and other		1,534		6,603		12			8,149		6,938		804			128			16,019
Management and license fees		15,074		9,487		—			24,561		27,441		10,746			(62,748	)		—
Corporate expenses and other		2,885		2,894		4,428			10,207		7,330		1,949			13,262			32,748
Stock-based compensation		2,931		2,812		1,035			6,778		1,621		443			9,443			18,285
Triple-net operating lease rent expense		—		—		—			—		—		35,631			—			35,631
Adjusted Property EBITDAR	$	156,607	$	89,590	$	—		$	246,197	$	224,121	$	69,104		$	(14,964	)	$	524,458

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)

	Six Months Ended June 30, 2024
	Wynn Palace		Wynn Macau		Other Macau			Total Macau Operations		Las Vegas Operations		Encore Boston Harbor			Corporate and Other			Total
Operating income (loss)	$	221,841	$	162,176	$	(16,099	)	$	367,918	$	271,187	$	(34,919	)	$	28,413		$	632,599
Pre-opening expenses		—		—		—			—		736		647			2,210			3,593
Depreciation and amortization		110,443		40,079		770			151,292		120,629		63,076			16,341			351,338
Property charges and other		11,692		446		112			12,250		2,175		170			41,168			55,763
Management and license fees		36,288		23,345		—			59,633		59,917		21,023			(140,573	)		—
Corporate expenses and other		4,388		4,501		13,120			22,009		15,951		3,718			31,937			73,615
Stock-based compensation		2,177		2,550		2,097			6,824		6,000		805			16,907			30,536
Triple-net operating lease rent expense		—		—		—			—		—		70,746			—			70,746
Adjusted Property EBITDAR	$	386,829	$	233,097	$	—		$	619,926	$	476,595	$	125,266		$	(3,597	)	$	1,218,190

	Six Months Ended June 30, 2023
	Wynn Palace		Wynn Macau		Other Macau			Total Macau Operations		Las Vegas Operations		Encore Boston Harbor			Corporate and Other			Total
Operating income (loss)	$	120,143	$	59,516	$	(10,838	)	$	168,821	$	261,772	$	(25,952	)	$	15,210		$	419,851
Pre-opening expenses		—		—		—			—		81		1,247			4,627			5,955
Depreciation and amortization		108,075		41,177		760			150,012		114,202		60,132			14,428			338,774
Property charges and other		3,829		7,078		13			10,920		7,151		222			184			18,477
Management and license fees		26,904		16,762		—			43,666		55,253		21,249			(120,168	)		—
Corporate expenses and other		5,111		5,219		8,052			18,382		13,886		3,813			31,157			67,238
Stock-based compensation		3,603		4,583		2,013			10,199		3,373		893			18,530			32,995
Triple-net operating lease rent expense		—		—		—			—		—		70,914			—			70,914
Adjusted Property EBITDAR	$	267,665	$	134,335	$	—		$	402,000	$	455,718	$	132,518		$	(36,032	)	$	954,204

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO
ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net income attributable to Wynn Resorts, Limited	$	111,943		$	105,184		$	256,159		$	117,516
Net income attributable to noncontrolling interests		34,330			22,651			66,612			11,465
Pre-opening expenses		1,558			1,477			3,593			5,955
Depreciation and amortization		176,405			169,962			351,338			338,774
Property charges and other		38,815			16,019			55,763			18,477
Triple-net operating lease rent expense		35,342			35,631			70,746			70,914
Corporate expenses and other		33,710			32,748			73,615			67,238
Stock-based compensation		16,167			18,285			30,536			32,995
Interest income		(34,884	)		(44,127	)		(75,056	)		(84,320	)
Interest expense, net of amounts capitalized		174,596			190,243			357,000			377,983
Change in derivatives fair value		(15,517	)		(24,336	)		2,397			(47,382	)
Loss on debt financing transactions		—			3,375			1,561			15,611
Other		(8,745	)		(6,959	)		(4,023	)		23,655
Provision for income taxes		7,935			4,305			27,949			5,323
Adjusted Property EBITDAR	$	571,655		$	524,458		$	1,218,190		$	954,204

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited)

	Three Months Ended June 30,								Six Months Ended June 30,
	2024			2023			Percent Change		2024			2023			Percent Change
Wynn Palace Supplemental Information
Operating revenues
Casino	$	444,964		$	365,277		21.8		$	918,745		$	635,964		44.5
Rooms		50,206			50,092		0.2			104,142			97,002		7.4
Food and beverage		29,829			25,260		18.1			61,899			48,813		26.8
Entertainment, retail and other		23,050			27,721		(16.9	)		50,164			55,934		(10.3	)
Total	$	548,049		$	468,350		17.0		$	1,134,950		$	837,713		35.5

Adjusted Property EBITDAR ⁽⁶⁾	$	184,459		$	156,607		17.8		$	386,829		$	267,665		44.5

Casino statistics:
VIP:
Average number of table games		57			57		—			58			54		7.4
VIP turnover	$	2,810,016		$	3,042,338		(7.6	)	$	6,731,100		$	5,335,696		26.2
VIP table games win ⁽¹⁾	$	115,297		$	129,030		(10.6	)	$	244,712		$	191,478		27.8
VIP table games win as a % of turnover		4.10	%		4.24	%				3.64	%		3.59	%
Table games win per unit per day	$	22,092		$	24,728		(10.7	)	$	23,195		$	19,697		17.8
Mass market:
Average number of table games		243			240		1.3			244			239		2.1
Table drop ⁽²⁾	$	1,738,260		$	1,507,148		15.3		$	3,520,444		$	2,689,146		30.9
Table games win ⁽¹⁾	$	409,409		$	305,817		33.9		$	846,732		$	566,683		49.4
Table games win %		23.6	%		20.3	%				24.1	%		21.1	%
Table games win per unit per day	$	18,484		$	13,980		32.2		$	19,039		$	13,125		45.1
Average number of slot machines		607			586		3.6			590			587		0.5
Slot machine handle	$	642,713		$	579,626		10.9		$	1,238,334		$	1,126,224		10.0
Slot machine win ⁽³⁾	$	25,590		$	27,583		(7.2	)	$	56,560		$	53,008		6.7
Slot machine win per unit per day	$	464		$	517		(10.3	)	$	527		$	499		5.6
Poker rake	$	736		$	—		NM		$	736		$	—		NM
Room statistics:
Occupancy		98.9	%		96.5	%				98.9	%		92.2	%
ADR ⁽⁴⁾	$	316		$	318		(0.6	)	$	326		$	319		2.2
REVPAR ⁽⁵⁾	$	312		$	307		1.6		$	323		$	294		9.9
NM - Not meaningful.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)

	Three Months Ended June 30,								Six Months Ended June 30,
	2024			2023			Percent Change		2024			2023			Percent Change
Wynn Macau Supplemental Information
Operating revenues
Casino	$	280,717		$	242,950		15.5		$	627,070		$	419,333		49.5
Rooms		23,742			26,130		(9.1	)		52,361			48,101		8.9
Food and beverage		20,003			14,666		36.4			41,022			28,968		41.6
Entertainment, retail and other		12,807			17,847		(28.2	)		28,560			35,917		(20.5	)
Total	$	337,269		$	301,593		11.8		$	749,013		$	532,319		40.7

Adjusted Property EBITDAR⁽⁶⁾	$	95,911		$	89,590		7.1		$	233,097		$	134,335		73.5

Casino statistics:
VIP:
Average number of table games		30			48		(37.5	)		30			50		(40.0	)
VIP turnover	$	1,164,075		$	1,390,272		(16.3	)	$	2,753,760		$	2,534,496		8.7
VIP table games win ⁽¹⁾	$	25,473		$	57,828		(56.0	)	$	79,379		$	88,579		(10.4	)
VIP table games win as a % of turnover		2.19	%		4.16	%				2.88	%		3.49	%
Table games win per unit per day	$	9,449		$	13,257		(28.7	)	$	14,629		$	9,808		49.2
Mass market:
Average number of table games		222			209		6.2			222			213		4.2
Table drop ⁽²⁾	$	1,602,920		$	1,223,311		31.0		$	3,286,071		$	2,213,299		48.5
Table games win ⁽¹⁾	$	280,830		$	216,405		29.8		$	607,150		$	384,831		57.8
Table games win %		17.5	%		17.7	%				18.5	%		17.4	%
Table games win per unit per day	$	13,905		$	11,388		22.1		$	15,048		$	9,997		50.5
Average number of slot machines		617			533		15.8			600			532		12.8
Slot machine handle	$	801,813		$	519,807		54.3		$	1,532,202		$	989,576		54.8
Slot machine win ⁽³⁾	$	25,978		$	15,452		68.1		$	52,170		$	31,749		64.3
Slot machine win per unit per day	$	463		$	319		45.1		$	478		$	330		44.8
Poker rake	$	3,607		$	5,376		(32.9	)	$	8,626		$	9,312		(7.4	)
Room statistics:
Occupancy		99.4	%		96.8	%				99.4	%		93.9	%
ADR ⁽⁴⁾	$	236		$	269		(12.3	)	$	260		$	256		1.6
REVPAR ⁽⁵⁾	$	234		$	260		(10.0	)	$	258		$	240		7.5

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)

	Three Months Ended June 30,								Six Months Ended June 30,
	2024			2023			Percent Change		2024			2023			Percent Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino	$	129,674		$	137,946		(6.0	)	$	264,837		$	292,476		(9.5	)
Rooms		205,872			177,765		15.8			429,948			362,874		18.5
Food and beverage		208,418			195,146		6.8			402,028			367,629		9.4
Entertainment, retail and other		84,690			67,215		26.0			168,389			141,857		18.7
Total	$	628,654		$	578,072		8.8		$	1,265,202		$	1,164,836		8.6

Adjusted Property EBITDAR ⁽⁶⁾	$	230,333		$	224,121		2.8		$	476,595		$	455,718		4.6

Casino statistics:
Average number of table games		234			235		(0.4	)		234			233		0.4
Table drop ⁽²⁾	$	536,461		$	559,701		(4.2	)	$	1,140,635		$	1,160,447		(1.7	)
Table games win ⁽¹⁾	$	117,496		$	128,012		(8.2	)	$	274,107		$	274,022		—
Table games win %		21.9	%		22.9	%				24.0	%		23.6	%
Table games win per unit per day	$	5,529		$	5,997		(7.8	)	$	6,444		$	6,490		(0.7	)
Average number of slot machines		1,598			1,651		(3.2	)		1,608			1,660		(3.1	)
Slot machine handle	$	1,648,364		$	1,522,525		8.3		$	3,144,442		$	3,095,260		1.6
Slot machine win ⁽³⁾	$	110,017		$	103,357		6.4		$	209,773		$	210,145		(0.2	)
Slot machine win per unit per day	$	757		$	688		10.0		$	717		$	700		2.4
Poker rake	$	7,501		$	6,460		16.1		$	12,023		$	10,574		13.7
Room statistics:
Occupancy		90.9	%		90.6	%				89.4	%		89.7	%
ADR ⁽⁴⁾	$	532		$	462		15.2		$	563		$	477		18.0
REVPAR ⁽⁵⁾	$	484		$	418		15.8		$	504		$	428		17.8

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR, and REVPAR)
(unaudited) (continued)

	Three Months Ended June 30,								Six Months Ended June 30,
	2024			2023			Percent Change		2024			2023			Percent Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino	$	153,591		$	166,826		(7.9	)	$	319,760		$	332,218		(3.7	)
Rooms		24,701			22,518		9.7			45,484			41,057		10.8
Food and beverage		23,154			21,964		5.4			43,393			44,237		(1.9	)
Entertainment, retail and other		11,162			10,624		5.1			21,755			20,726		5.0
Total	$	212,608		$	221,932		(4.2	)	$	430,392		$	438,238		(1.8	)

Adjusted Property EBITDAR ⁽⁶⁾	$	62,131		$	69,104		(10.1	)	$	125,266		$	132,518		(5.5	)

Casino statistics:
Average number of table games		185			190		(2.6	)		184			194		(5.2	)
Table drop ⁽²⁾	$	358,857		$	354,365		1.3		$	725,668		$	720,406		0.7
Table games win ⁽¹⁾	$	70,471		$	79,072		(10.9	)	$	153,449		$	158,615		(3.3	)
Table games win %		19.6	%		22.3	%				21.1	%		22.0	%
Table games win per unit per day	$	4,186		$	4,573		(8.5	)	$	4,576		$	4,512		1.4
Average number of slot machines		2,590			2,561		1.1			2,613			2,540		2.9
Slot machine handle	$	1,420,607		$	1,300,237		9.3		$	2,823,454		$	2,596,664		8.7
Slot machine win ⁽³⁾	$	105,558		$	106,726		(1.1	)	$	210,223		$	210,799		(0.3	)
Slot machine win per unit per day	$	448		$	458		(2.2	)	$	442		$	459		(3.7	)
Poker rake	$	5,307		$	5,211		1.8		$	11,088		$	10,893		1.8
Room statistics:
Occupancy		96.5	%		92.7	%				93.1	%		91.4	%
ADR ⁽⁴⁾	$	422		$	400		5.5		$	403		$	372		8.3
REVPAR ⁽⁵⁾	$	407		$	371		9.7		$	375		$	340		10.3

(1)		Table games win is shown before discounts, commissions and the allocation of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis.
(2)		In Macau, table drop is the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage. In Las Vegas, table drop is the amount of cash and net markers issued that are deposited in a gaming table's drop box. At Encore Boston Harbor, table drop is the amount of cash and gross markers that are deposited in a gaming table's drop box.
(3)		Slot machine win is calculated as gross slot machine win minus progressive accruals and free play.
(4)		ADR is average daily rate and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms occupied.
(5)		REVPAR is revenue per available room and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms available.
(6)		Refer to accompanying reconciliations of Operating Income (Loss) to Adjusted Property EBITDAR and Net Income Attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.