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Wynn Resorts (WYNN) Lags Q1 Earnings and Revenue Estimates
ZACKS· 2025-05-06 22:10
Earnings Performance - Wynn Resorts reported quarterly earnings of $1.07 per share, missing the Zacks Consensus Estimate of $1.22 per share, and down from $1.59 per share a year ago, representing an earnings surprise of -12.30% [1] - The company posted revenues of $1.7 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.52%, and down from $1.86 billion year-over-year [2] Market Performance - Wynn shares have lost about 3.7% since the beginning of the year, compared to the S&P 500's decline of -3.9% [3] Future Outlook - The current consensus EPS estimate for the coming quarter is $1.28 on revenues of $1.75 billion, and for the current fiscal year, it is $4.96 on revenues of $7.03 billion [7] - The estimate revisions trend for Wynn is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Gaming industry, to which Wynn belongs, is currently in the bottom 45% of the Zacks industry rankings, suggesting potential challenges ahead [8] - Another company in the same industry, International Game Technology (IGT), is expected to report a significant decline in earnings, with a projected EPS of $0.14, down 69.6% year-over-year, and revenues expected to be $632.03 million, down 40.8% from the previous year [9][10]
Wynn Resorts(WYNN) - 2025 Q1 - Earnings Call Transcript
2025-05-06 21:32
Financial Data and Key Metrics Changes - The company reported adjusted property EBITDA of $223.4 million for Wynn Las Vegas on operating revenue of $625.3 million, resulting in an EBITDA margin of 35.7% [17] - Total casino revenues increased by 4% year-over-year, despite the absence of the Super Bowl in 2025 [12] - Adjusted property EBITDA for Macau operations was $252.1 million on operating revenue of $865.9 million, yielding an EBITDA margin of 29.1% [19] Business Line Data and Key Metrics Changes - In Las Vegas, adjusted EBITDA was down approximately $11 million when adjusted for hold, with slot business showing strong performance [12][18] - Encore Boston Harbor generated $57.5 million of adjusted property EBITDA on revenue of $209.2 million, with an EBITDA margin of 27.5% [19] - Macau's mass drop was up year-over-year, while VIP turnover increased significantly, although lower VIP hold impacted EBITDA by over $38 million [14][20] Market Data and Key Metrics Changes - In Las Vegas, RevPAR for April was slightly up from 2024, with slot handle also increasing [10] - Macau's mass drop during Golden Week was up from the previous year, with full hotel occupancy reported [11] - The company noted a healthy demand outlook for group and convention business in Las Vegas, with visibility into forward demand appearing stable [10] Company Strategy and Development Direction - The company is focused on maximizing EBITDA and maintaining a healthy margin profile amidst competitive pressures in Macau [14] - Significant CapEx projects have been delayed due to tariff impacts, with $375 million in projects, including the Encore Tower remodel, currently on hold [9][23] - The company is committed to returning capital to shareholders, having repurchased $200 million in stock during Q1 and an additional $100 million in Q2 [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty in the operating environment due to tariffs but noted that the business in Las Vegas and Macau is holding up well [11] - The company expressed confidence in its ability to navigate competitive dynamics in Macau and highlighted the importance of service quality and product offerings [42][46] - Management remains optimistic about future growth opportunities, particularly with the upcoming opening of Wynn on Marjan Islands [15][16] Other Important Information - The company has a strong liquidity position with $3.2 billion in global cash and revolver availability as of March 31 [21] - The board has recommended an increase in the final dividend for 2024 to $125 million, subject to shareholder approval [22] - The Gourmet Pavilion Food Hall at Wynn Palace has already driven significant incremental visitation since its opening [15] Q&A Session Summary Question: Changes in promotions and discounts in Las Vegas - Management confirmed that the decrease in promotions correlates with ADR, particularly influenced by the Super Bowl comparison [26] Question: CapEx deployment cadence - Management indicated that CapEx will follow the usual construction curve, deploying funds over the remainder of the year and into next year [27] Question: International visitation impact - Management noted that international visitation is currently about 9% of Las Vegas room nights, with minimal impact from decreases in visitation from Canada and Mexico [32] Question: Competitive environment in Macau - Management described the competitive landscape as stable but noted the importance of service quality and product offerings to remain competitive [42][46] Question: CapEx impact from tariffs - The majority of delayed CapEx is related to the Encore Tower remodel, with management emphasizing that the timing of rescheduling is uncertain [58][74] Question: Group business outlook - Management stated that they are not experiencing softening in group demand, with strong pacing for 2026 driven by large events [61] Question: Development opportunities in Japan - Management expressed interest in Japan but emphasized the need for favorable conditions before pursuing opportunities there [66] Question: OpEx management with new openings - Management indicated that OpEx per day remained flat year-over-year, with careful management of costs to offset new expenses [80]
Wynn Resorts(WYNN) - 2025 Q1 - Quarterly Report
2025-05-06 21:00
Financial Performance - Operating revenues for Q1 2025 were $1,700,397, a decrease of $162,512 or 8.7% compared to Q1 2024[101]. - Net income attributable to Wynn Resorts, Limited for Q1 2025 was $72,747, down $71,469 or 49.6% from $144,216 in Q1 2024[102]. - Average daily rate (ADR) and revenue per available room (REVPAR) decreased across properties, contributing to lower overall revenues[102]. - Macau Operations reported total revenues of $865,889 for Q1 2025, a decline of $132,756 or 13.3% from $998,645 in Q1 2024[104]. - Casino revenues for Q1 2025 were $1,040,430, down $81,036 or 7.2% from $1,121,466 in Q1 2024, representing 61.2% of total operating revenues[105]. - Non-casino revenues decreased to $659,967 in Q1 2025, a drop of $81,476 or 11.0% compared to $741,443 in Q1 2024[105]. Casino Operations - Total casino revenues for Wynn Palace decreased by $29.3 million, or 6.2%, from $473.8 million in 2024 to $444.5 million in 2025[107]. - Total casino revenues for Wynn Macau decreased by $70.8 million, or 20.4%, from $346.4 million in 2024 to $275.6 million in 2025[107]. - Total casino revenues for Las Vegas Operations increased by $25.8 million, or 19.1%, from $135.2 million in 2024 to $161.0 million in 2025[108]. - The decrease in operating revenues was largely driven by lower VIP win as a percentage of turnover and mass market table games win in Macau[101]. - VIP win percentage in Macau is expected to range between 3.1% to 3.4%, while table games win percentage in Las Vegas is projected at 22% to 26%[98][99]. Expenses and Financial Metrics - Total operating expenses decreased by $68.2 million, or 4.5%, from $1.5 billion in 2024 to $1.4 billion in 2025[112]. - Casino expenses decreased by $40.6 million, or 6.0%, primarily due to lower gaming tax expenses[112]. - Interest expense decreased by $24.8 million due to a reduction in the weighted average debt balance from $11.92 billion in 2024 to $10.94 billion in 2025[117]. - Cash flows from operating activities decreased to $133.8 million for the three months ended March 31, 2025, from $315.1 million in 2024[132]. - Income tax expense decreased to $11.0 million for the three months ended March 31, 2025, from $20.0 million in 2024[121]. Shareholder Returns and Capital Management - The company repurchased 2,504,560 shares of common stock for an aggregate cost of $212.0 million during the three months ended March 31, 2025[138]. - A cash dividend of $0.25 per share was declared, with a total of $26.8 million recorded against accumulated deficit[150]. - The company authorized a $1.00 billion share repurchase program, with $613 million remaining as of March 31, 2025[152]. - The company plans to pay a final dividend of HK$0.185 per share on June 11, 2025, subject to shareholder approval[143]. Investments and Future Plans - Wynn Resorts has a 40% equity interest in Island 3, which is constructing an integrated resort in Ras Al Khaimah, UAE[92]. - The company is reassessing $375 million in planned enhancements at Wynn Las Vegas due to uncertainties regarding tariffs[146]. - Wynn Al Marjan Island FZ-LLC entered a $2.4 billion delayed draw secured term loan facility for development financing[156]. - The company contributed $51.2 million to Wynn Al Marjan Island, with remaining equity requirements estimated between $650 million and $725 million[149]. Currency and Debt Management - As of March 31, 2025, approximately 76% of long-term debt was fixed rate, with a potential $19 million change in annual interest expense from a 100 basis point rate change[162]. - The company entered into foreign currency swaps totaling $2.9 billion to manage exchange rate risks associated with U.S. dollar denominated senior notes[164]. - An assumed 1% change in the U.S. dollar/Hong Kong dollar exchange rate could result in a gain/loss of $12.5 million to income before taxes[165]. - The company incurred a foreign currency remeasurement loss of $8.4 million for the three months ended March 31, 2025, compared to a loss of $4.7 million for the same period in 2024[119]. - The company recorded a loss of $29.5 million from changes in derivatives fair value for the three months ended March 31, 2025, compared to a loss of $17.9 million in 2024[120].
Wynn Resorts(WYNN) - 2025 Q1 - Earnings Call Transcript
2025-05-06 20:30
Financial Data and Key Metrics Changes - The company reported adjusted property EBITDA of $223.4 million for Wynn Las Vegas on operating revenue of $625.3 million, resulting in an EBITDA margin of 35.7% [16] - Total casino revenues increased by 4% year-over-year, excluding the Super Bowl impact [11] - Adjusted property EBITDA for Macau operations was $252.1 million on operating revenue of $865.9 million, with an EBITDA margin of 29.1% [17] Business Line Data and Key Metrics Changes - In Las Vegas, slot volumes increased by approximately 3%, contributing to overall revenue growth [12] - Encore Boston Harbor generated $57.5 million in adjusted property EBITDA on revenue of $209.2 million, with an EBITDA margin of 27.5% [17] - Macau's mass drop was up year-over-year, while VIP turnover increased significantly, although lower VIP hold impacted EBITDA by about $38 million [13][18] Market Data and Key Metrics Changes - In Las Vegas, RevPAR for April was slightly up from 2024, with healthy group activity and slot handle [9] - Macau's mass drop during Golden Week showed improvement compared to the previous year, with full hotel occupancy [10] - The company noted that international visitation to Las Vegas is currently at 9% of room nights, which can be backfilled easily [32] Company Strategy and Development Direction - The company is focused on maximizing EBITDA and maintaining a healthy margin profile despite competitive pressures in Macau [13] - The opening of the Gourmet Pavilion Food Hall at Wynn Palace has driven increased visitation, with 2,400 additional daily restaurant covers [14] - The company is committed to returning capital to shareholders, having repurchased $200 million in stock during Q1 and an additional $100 million in Q2 [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty in the operating environment due to tariffs but noted that the business in Vegas and Macau is holding up well [10] - The company remains optimistic about future demand, particularly in group and convention business, despite short booking windows [9][34] - Management expressed confidence in the upcoming Wynn on Marjan Islands project, viewing it as a compelling development opportunity [15] Other Important Information - The company expects total CapEx spend in 2025 to range between $250 million to $300 million, with a significant portion related to concession commitments [20] - The company has a strong liquidity position with $3.2 billion in global cash and revolver availability as of March 31 [20] Q&A Session Summary Question: Changes in promotions and discounts in Las Vegas - Management indicated that the observed changes correlate strongly with ADR, particularly influenced by the Super Bowl comparison [25] Question: Thoughts on international inbound and VIP exposure - Management noted that high-end visitation remains stable, while international visitation has decreased but does not significantly impact the business [32] Question: Competitive environment in Macau - Management described the competitive landscape as stable but emphasized the importance of service quality and product offerings to remain competitive [44][108] Question: CapEx projects on hold due to tariffs - The majority of the delayed CapEx is related to the Encore Tower remodel, with a total of $375 million impacted [59] Question: Group business outlook for 2026 - Management reported strong demand for group bookings in 2026, attributing it to large events scheduled for that year [62]
Wynn Resorts(WYNN) - 2025 Q1 - Earnings Call Transcript
2025-05-06 20:30
Financial Data and Key Metrics Changes - The company reported adjusted property EBITDA of $223.4 million at Wynn Las Vegas on operating revenue of $625.3 million, resulting in an EBITDA margin of 35.7% [17] - Total casino revenues increased by 4% year-over-year, despite the absence of the Super Bowl in 2025 [12] - Adjusted property EBITDA for Macau operations was $252.1 million on operating revenue of $865.9 million, yielding an EBITDA margin of 29.1% [19] Business Line Data and Key Metrics Changes - In Las Vegas, adjusted EBITDA was down approximately $11 million when adjusting for hold, with slot business showing strong performance [12][18] - Encore Boston Harbor generated $57.5 million of adjusted property EBITDA on revenue of $209.2 million, with an EBITDA margin of 27.5% [19] - Macau's mass drop was up year-over-year, while VIP turnover increased significantly, although lower VIP hold impacted EBITDA by over $38 million [14][20] Market Data and Key Metrics Changes - In Las Vegas, RevPAR was slightly up from 2024, with slot handle also increasing [10] - Macau's mass drop during Golden Week was up from the previous year, with full hotel occupancy reported [11] - The company noted that international visitation to Las Vegas is currently at 9% of room nights, which can be backfilled easily [32] Company Strategy and Development Direction - The company is focused on maximizing EBITDA and maintaining a healthy margin profile amidst competitive pressures in Macau [14] - The opening of the Gourmet Pavilion Food Hall at Wynn Palace has driven incremental visitation and revenue [15] - The company is committed to stock buybacks, having repurchased $200 million in Q1 and an additional $100 million in Q2 [16][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty in the operating environment due to tariffs but noted that the business in Vegas and Macau is holding up well [11] - The company is prepared for various scenarios and has a playbook ready to address potential impacts on demand [11] - Management expressed confidence in the future, highlighting the upcoming property opening and the strength of the business [16] Other Important Information - The company plans to spend between $250 million to $300 million on CapEx in 2025, including concession-related commitments [21] - The liquidity position remains strong with $3.2 billion in global cash and revolver availability as of March 31 [21] - The company is focused on returning capital to shareholders, with a proposed increase in dividends and ongoing share repurchases [22][23] Q&A Session Summary Question: Changes in promotions and discounts in Las Vegas - Management confirmed that promotions correlate strongly with ADR, and the Super Bowl comparison influenced the observed changes [26] Question: CapEx deployment cadence - Management indicated that CapEx will follow the usual construction curve, deploying funds over the remainder of the year and into next year [27] Question: International visitation impact on Las Vegas - Management noted that high-end visitation remains stable, while international visitation is currently at 9% of room nights, which can be easily backfilled [32] Question: Competitive environment in Macau - Management described the competitive landscape as stable but noted the importance of service quality and product offerings to remain competitive [42][46] Question: Development opportunities in New York and Japan - Management is prepared to submit proposals for New York and is open to opportunities in Japan, provided the conditions are favorable [53][67] Question: CapEx projects on hold - The majority of the delayed CapEx is related to the Encore Tower remodel, with management emphasizing that the project is not canceled but rescheduled [58][75] Question: OpEx management with new openings - Management stated that OpEx per day remained flat year-over-year, attributing this to careful management and economies in other areas [20][82]
Wynn Resorts(WYNN) - 2025 Q1 - Quarterly Results
2025-05-06 20:03
Financial Performance - Operating revenues for Q1 2025 were $1.70 billion, a decrease of $162.5 million from $1.86 billion in Q1 2024[3] - Net income attributable to Wynn Resorts for Q1 2025 was $72.7 million, down from $144.2 million in Q1 2024, with diluted net income per share at $0.69 compared to $1.30[5] - Adjusted Property EBITDAR for Q1 2025 was $532.9 million, a decrease of $113.6 million from $646.5 million in Q1 2024[5] - Total operating revenues for Q1 2025 were $1,700,397, a decrease of 8.7% from $1,862,909 in Q1 2024[22] - Net income attributable to Wynn Resorts, Limited for Q1 2025 was $72,747, down 49.6% from $144,216 in Q1 2024[26] - Adjusted net income attributable to Wynn Resorts, Limited for Q1 2025 was $113,145, a decline of 36.0% compared to $176,801 in Q1 2024[23] - Adjusted Property EBITDAR for Q1 2025 was $532,899, down 17.6% from $646,535 in Q1 2024[26] Revenue Breakdown - Operating revenues from Wynn Palace were $535.9 million, down $51.0 million from $586.9 million in Q1 2024, with Adjusted Property EBITDAR at $161.9 million compared to $202.4 million[7] - Operating revenues from Wynn Macau were $330.0 million, a decrease of $81.8 million from $411.7 million in Q1 2024, with Adjusted Property EBITDAR at $90.2 million compared to $137.2 million[8] - Casino revenues for Wynn Palace in Q1 2025 were $444,508, a decrease of 6.2% from $473,781 in Q1 2024[28] - Wynn Macau's total operating revenues decreased by 19.9% to $329.96 million in Q1 2025 from $411.74 million in Q1 2024[30] - Las Vegas operations reported a slight decline in total operating revenues by 1.8% to $625.29 million in Q1 2025 compared to $636.55 million in Q1 2024[32] - Encore Boston Harbor's total operating revenues fell by 3.9% to $209.22 million in Q1 2025 from $217.78 million in Q1 2024[34] Operational Metrics - The average number of table games in the VIP segment decreased by 6.8% to 55 in Q1 2025 compared to 59 in Q1 2024[28] - The occupancy rate for Wynn Palace was 98.3% in Q1 2025, slightly down from 98.8% in Q1 2024[28] - Slot machine handle increased by 23.4% to $734,869 in Q1 2025 from $595,621 in Q1 2024[28] - Slot machine handle in Las Vegas increased by 18.8% to $1.78 billion in Q1 2025 from $1.50 billion in Q1 2024[32] Debt and Cash Position - Cash and cash equivalents as of March 31, 2025, totaled $2.07 billion, with $1.49 billion held by Wynn Macau and subsidiaries[12] - Total current and long-term debt outstanding was $10.55 billion, including $5.80 billion of Macau-related debt[13] Shareholder Returns - The company repurchased 2,360,194 shares at an average price of $84.76 per share for a total cost of $200 million during Q1 2025[14] - A cash dividend of $0.25 per share was declared, payable on May 30, 2025, to stockholders of record as of May 16, 2025[6] Future Developments - Wynn Al Marjan Island development in the UAE received a cash contribution of $51.2 million, bringing total contributions to $682.9 million, with an expected opening in 2027[11] Room Revenue and Performance - Room revenues for Wynn Palace fell by 32.1% to $36,615 in Q1 2025 from $53,936 in Q1 2024[28] - Average Daily Rate (ADR) for rooms in Wynn Macau decreased by 17.6% to $234 in Q1 2025 from $284 in Q1 2024[30] - REVPAR for rooms in Las Vegas decreased by 12.0% to $461 in Q1 2025 from $524 in Q1 2024[32] Adjusted Performance Metrics - Adjusted Property EBITDAR for Wynn Macau decreased by 34.3% to $90.20 million in Q1 2025 from $137.19 million in Q1 2024[30] - Las Vegas operations' Adjusted Property EBITDAR declined by 9.3% to $223.36 million in Q1 2025 from $246.26 million in Q1 2024[32] - Encore Boston Harbor's Adjusted Property EBITDAR decreased by 9.0% to $57.45 million in Q1 2025 from $63.14 million in Q1 2024[34] VIP Performance - VIP table games win at Wynn Macau dropped significantly by 70.8% to $15.71 million in Q1 2025 from $53.91 million in Q1 2024[30]
Wynn Resorts to Post Q1 Earnings: What's in Store for the Stock?
ZACKS· 2025-05-05 14:40
Core Viewpoint - Wynn Resorts is expected to report a decline in earnings and revenues for the first quarter of 2025, with earnings per share estimated at $1.22, down 23.3% from the previous year, and revenues projected at nearly $1.73 billion, reflecting a 7.3% decrease from the prior-year quarter [1][2]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for first-quarter earnings per share is $1.22, indicating a 23.3% decline from $1.59 reported in the same quarter last year [1]. - The consensus revenue estimate is approximately $1.73 billion, suggesting a 7.3% decrease from the previous year's figure [2]. Group 2: Factors Influencing Performance - Wynn Resorts' first-quarter performance is likely to benefit from strong domestic demand, recovery in Macau, and disciplined capital spending [3]. - In Las Vegas, the company is expected to see gains from a strong slot handle, elevated table drop, and high-margin non-gaming revenues, with room revenues predicted to rise 9% year over year to $244.3 million [4]. - Progress on capital expenditures related to concessions, including new developments at Wynn Palace, is anticipated to support performance [5]. Group 3: Operating Expenses and Economic Factors - Total operating expenses for the first quarter are projected to increase by 3.6% year over year to $1.55 billion [5]. - Macroeconomic challenges such as inflation and labor cost pressures may negatively impact margins during the quarter [5]. Group 4: Earnings Prediction and Stock Rank - The model predicts an earnings beat for Wynn Resorts, supported by a positive Earnings ESP of +0.15% and a Zacks Rank of 3 (Hold) [6][7].
Wynn Resorts(WYNN) - 2025 FY - Earnings Call Transcript
2025-04-30 12:00
Financial Data and Key Metrics Changes - The company received proxies representing approximately 86% of the shares entitled to vote at the meeting, indicating strong shareholder engagement [6] - The meeting included proposals for the election of directors and the ratification of independent accountants, reflecting ongoing governance practices [9] Business Line Data and Key Metrics Changes - No specific financial data or business line performance metrics were disclosed during the meeting [0] Market Data and Key Metrics Changes - The discussion highlighted the changing customer preferences in the gaming industry, particularly regarding indoor air quality and smoking policies, which may impact market dynamics [11][12] Company Strategy and Development Direction - The company is focused on maintaining high standards of luxury and service, as evidenced by the legacy of Elaine Wynn, which continues to influence company culture [3][4] - There is an ongoing evaluation of the impact of smoking policies on business risks, indicating a potential shift in strategy to align with market trends and customer preferences [11][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the evolving landscape of the gaming industry, particularly in relation to health concerns stemming from the COVID-19 pandemic, which has altered customer expectations [11] - The company is aware of the competitive environment, especially with other properties adopting smoke-free policies, which may necessitate a reassessment of its own policies [12] Other Important Information - The meeting included a proposal from Trinity Health regarding transparency on indoor smoking policies, highlighting potential risks associated with current practices [10][11] - The board recommended shareholders vote against the proposal from Trinity Health, indicating a preference to maintain current policies [14] Q&A Session Summary Question: Proposal for transparency on indoor smoking policies - The proposal emphasized the need for greater transparency regarding the risks of indoor smoking and its impact on employee health and customer preferences [10][11] - The company responded by highlighting its existing measures to limit smoking areas and improve ventilation, but did not commit to the requested transparency [12][14]
Should Value Investors Buy Wynn Resorts (WYNN) Stock?
ZACKS· 2025-04-18 14:45
Core Insights - The Zacks Rank system emphasizes earnings estimates and revisions to identify winning stocks [1] - Value investing is a favored strategy for finding strong stocks across various market conditions, focusing on undervalued stocks for potential profits [2] - The Style Scores system complements the Zacks Rank, allowing investors to target stocks with specific traits, particularly in the "Value" category [3] Company Analysis: Wynn Resorts (WYNN) - Wynn Resorts currently holds a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong investment potential [4] - The stock has a Forward P/E ratio of 13.94, significantly lower than the industry average of 26.80, suggesting it may be undervalued [4] - Over the past year, WYNN's Forward P/E has fluctuated between a high of 20.46 and a low of 12.57, with a median of 16.54 [4] - The P/S ratio for WYNN is 1.11, which is slightly below the industry average of 1.15, further indicating potential undervaluation [5] - These metrics contribute to a strong Value grade for Wynn Resorts, highlighting its impressive value stock status based on earnings outlook [6]
Casino exec Elaine Wynn, major shareholder of Wynn Resorts, dies at 82
Fox Business· 2025-04-15 19:58
Company Overview - Elaine Wynn, co-founder of Wynn Resorts, passed away at the age of 82, having significantly contributed to the establishment and growth of the company [1][6] - Wynn Resorts is recognized as a leading luxury resort brand, with Elaine's influence evident in its development and operations [7] Financial Insights - As of March 5, Elaine Wynn controlled approximately 9.5 million shares of Wynn Resorts, representing 8.98% of the outstanding shares [5] - Her estimated net worth at the time of her death was $1.9 billion [5] Philanthropic Contributions - Elaine Wynn was actively involved in philanthropy, particularly in the arts and education, and worked to enhance Las Vegas as a family-friendly destination [3][8] - Her commitment to philanthropy is noted to have a lasting impact on the company culture at Wynn Resorts [8] Company Response - Wynn Resorts expressed deep sadness over Elaine Wynn's passing and extended condolences to her family, highlighting her contributions to the company and the community [6][7]