MACAU, MACAU - JULY 18: The Eiffel Tower attraction, a half-size replica of the Eiffel Tower in ... [+] Paris, stands illuminated at the Parisian Macao casino resort, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, Macau, on July 18, 2018. According to the date from Statistics and Census Bureau (DSEC), the Tourist Price Index, which reflects the price change of goods and services purchased by visitors, went up 2.78 per cent year-on-year to 129.86 in the second quarter of 2018. (Phot ...

Wynn Resorts (WYNN) shares ended the last trading session 8.2% higher at $91.03. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% gain over the past four weeks.Shares of Wynn Resorts appreciated after a report revealed that the number of high-stakes gamblers in China is on the rise, with many placing increasingly larger bets. The stock also benefited from China's recent announcement of its largest stimulus mea ...

Duncan Nicholls and Simon Webb It's been about 10 months since I suggested to people that it would be a good idea to avoid Wynn Resorts, Limited (NASDAQ:WYNN), and in that time, the shares have lost about 15% against a gain of about 27.4% for the S&P 500. The argument I made at the time was that 10 Year Treasury Notes were more compelling than the stock, so I should also point out that the yield on the 10-Year Note has fallen about 90 basis points from then to now, and is now sitting at about 3.733%. This t ...

A month has gone by since the last earnings report for Wynn Resorts (WYNN) . Shares have added about 2.9% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Wynn due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Wynn Resorts Q2 Earnings & Revenues Lag, Both Up Y/YWynn ...

Core Points - The proposal for Hudson Yards West represents a $12 billion investment aimed at enhancing New York City's infrastructure and economy, potentially creating 35,000 union construction jobs and 5,000 permanent union careers in the resort sector [1][3][4] - The centerpiece of the development will be Hudson Green, a 5.6-acre public park designed to improve the quality of life in the neighborhood and provide recreational space [1][3] - The project includes the construction of 1,500 new housing units, with 324 designated as affordable apartments, alongside a new public K-8 school [1][3][4] Economic Impact - The development is expected to generate billions in revenue for the City and State, addressing current economic infrastructure needs [3][4] - The Wynn Neighborhood Improvement Fund will support local community initiatives, including public safety, sanitation, and local artist support [5] Community Benefits - The project has undergone extensive community engagement, resulting in amendments to ensure public access and improved sightlines to existing parks [2][5] - The development aligns with the approved uses in the 2009 zoning and aims to complete the revitalization of Manhattan's West Side [3][4]

A visitor plays with his mobile phone outside Wynn integrated resort during the Labour Day holiday ... [+] in Macau on May 1, 2024. (Photo by Eduardo Leal / AFP) (Photo by EDUARDO LEAL/AFP via Getty Images)AFP via Getty ImagesWynn stock currently trades at $75 per share, roughly 46% below its pre-inflation shock high of $138 seen on March 17, 2021. The stock was impacted by the Macau operations, which saw business largely collapse over 2021 and 2022, due to stringent Covid-19 restrictions which hurt tourist ...

Wynn Resorts (WYNN) reported $1.73 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 8.6%. EPS of $1.12 for the same period compares to $0.91 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.75 billion, representing a surprise of -0.91%. The company delivered an EPS surprise of -8.94%, with the consensus EPS estimate being $1.23.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

Company Performance - Wynn Resorts reported quarterly earnings of $1.12 per share, missing the Zacks Consensus Estimate of $1.23 per share, but showing an increase from $0.91 per share a year ago, representing an earnings surprise of -8.94% [1] - The company posted revenues of $1.73 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.91%, compared to year-ago revenues of $1.6 billion [1] - Over the last four quarters, Wynn has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [1] Stock Performance - Wynn shares have declined approximately 19.3% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [2] - The current status of estimate revisions for Wynn is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.15 on revenues of $1.76 billion, and for the current fiscal year, it is $5.62 on revenues of $7.24 billion [4] - The sustainability of the stock's immediate price movement will largely depend on management's commentary during the earnings call [2][3] Industry Context - The Gaming industry, to which Wynn belongs, is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, PlayAGS, is expected to report quarterly earnings of $0.11 per share, reflecting a year-over-year change of +450%, with revenues projected at $95.5 million, up 6.3% from the previous year [5]

Financial Data and Key Metrics Changes - Wynn Resorts reported a record second quarter EBITDA of $572 million, marking the best second quarter in the company's history [5] - Adjusted property EBITDA for Wynn Las Vegas was $230.3 million on operating revenue of $628.7 million, resulting in an EBITDA margin of 36.6% [12] - Macau operations delivered adjusted property EBITDA of $280.4 million on $885.3 million of operating revenue, with an EBITDA margin of 31.7%, an increase of 250 basis points compared to Q2 2019 [14] Business Line Data and Key Metrics Changes - Wynn Las Vegas experienced a 16% growth in hotel revenue and an 8% growth in slot handle year-on-year [6] - Encore Boston generated $62.1 million of adjusted property EBITDA on revenue of $212.6 million, with a 29.2% EBITDA margin [12] - Macau's EBITDAR was impacted by lower mass hold, but the property achieved record slot handle and strong table drop [6][14] Market Data and Key Metrics Changes - In Macau, the company experienced slightly lower market share compared to previous quarters, but GGR market share improved in July, supported by strong mass table drop and high hotel occupancy [8][14] - The company noted a competitive promotional environment in Macau, which has affected market share dynamics [8] Company Strategy and Development Direction - Wynn Resorts is focused on capital deployment through CapEx and share repurchases, with ongoing construction on the Wynn Al Marjan Island project in the UAE [5][10] - The company is exploring potential greenfield opportunities in attractive gateway cities like New York and Bangkok [11] - The management remains disciplined in operational expenditures and player reinvestment levels, aiming for long-term competitiveness [8][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook for Wynn Macau, citing strong demand and a healthy operating environment [8][10] - The company is optimistic about the UAE market, viewing it as a significant growth opportunity for the gaming industry [10][11] - Management highlighted the importance of maintaining a balance between capital deployment for growth and returning capital to shareholders [24][48] Other Important Information - The company approved a cash dividend of $0.25 per share, payable on August 30, 2024, and repurchased approximately 741,000 shares for $68 million during the quarter [16] - The liquidity position remains strong, with over $3.9 billion in global cash and revolver availability as of June 30 [15] Q&A Session Summary Question: How would you characterize the back half of the year, particularly regarding group bookings? - Management indicated that Q3 is pacing well, with strong group bookings expected for both Q3 and Q4, and confidence in capturing market share during major events like F1 [20][22] Question: Can you provide specifics on market share recovery in July? - Management noted a bounce back in market share in July but refrained from providing specific numbers, emphasizing the importance of quality over quantity in customer visitation [26][28] Question: What are the latest thoughts on the UAE project and licensing? - Management expressed optimism about the regulatory progress in the UAE and the establishment of the GCGRA, which is expected to provide clarity for licensing [30] Question: What are the trends in visitation and spending patterns in Macau? - Management acknowledged fluctuations in visitation but emphasized that their focus is on the quality of customers rather than sheer numbers [33][35] Question: How does the company view capital allocation and buybacks? - Management stated that they do not have a target leverage level but are focused on opportunistic buybacks based on stock valuation and long-term growth [48]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 000-50028 WYNN RESORTS, LIMITED (Exact name of registrant as specified in its charter) Nevada 46-0484987 (State or other jurisdiction of incorporat ...