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 ...

Financial Performance - Operating revenues for Q2 2024 were $1.73 billion, an increase of $137.1 million (8.6%) from $1.60 billion in Q2 2023[3] - Net income attributable to Wynn Resorts for Q2 2024 was $111.9 million, compared to $105.2 million in Q2 2023, representing a 6.4% increase[5] - Diluted net income per share rose to $0.91 in Q2 2024 from $0.84 in Q2 2023, a 8.3% increase[5] - Adjusted Property EBITDAR reached $571.7 million, up $47.2 million (9.0%) from $524.5 million in Q2 2023[5] - Total operating revenues for Q2 2024 reached $1,732,932, an increase of 8.6% compared to $1,595,822 in Q2 2023[21] - Casino revenues increased to $1,008,946 in Q2 2024, up 10.5% from $912,999 in Q2 2023[21] - Net income attributable to Wynn Resorts, Limited for Q2 2024 was $111,943, representing a 6.7% increase from $105,184 in Q2 2023[23] - Adjusted net income attributable to Wynn Resorts, Limited for Q2 2024 was $124,505, a 20.4% increase compared to $103,340 in Q2 2023[23] - Basic net income per share for Q2 2024 was $1.01, up from $0.93 in Q2 2023, reflecting an increase of 8.6%[23] - Total operating expenses for Q2 2024 were $1,463,274, an increase of 8.8% from $1,345,486 in Q2 2023[21] - Operating income for Q2 2024 was $269,658, a 7.7% increase from $250,336 in Q2 2023[21] Revenue by Segment - Wynn Palace's operating revenues increased to $548.0 million, a rise of $79.7 million (17.0%) from $468.4 million in Q2 2023[7] - Wynn Macau's operating revenues were $337.3 million, an increase of $35.7 million (11.8%) from $301.6 million in Q2 2023[8] - Las Vegas Operations generated $628.7 million in operating revenues, up $50.6 million (8.7%) from $578.1 million in Q2 2023[9] - Encore Boston Harbor's operating revenues decreased to $212.6 million, down $9.3 million (4.2%) from $221.9 million in Q2 2023[10] - The operating income for the total Macau operations was $367,918 for the six months ended June 30, 2024, compared to $168,821 in 2023, reflecting a significant increase of 118.5%[27] Operational Metrics - The average occupancy rate for Wynn Resorts was 98.9% for both the three and six months ended June 30, 2024, compared to 96.5% and 92.2% in 2023, respectively[31] - The occupancy rate for Encore Boston Harbor improved to 96.5% in Q2 2024 from 92.7% in Q2 2023[39] - The company reported a provision for income taxes of $7,935 in Q2 2024, compared to $4,305 in Q2 2023[21] Future Outlook and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance customer experience[21] - Future outlook includes a projected revenue growth of A% for the next quarter, driven by increased demand in key markets[6] - Wynn Resorts is focusing on new product development, with plans to launch B new gaming technologies by the end of the fiscal year[6] - The company is expanding its market presence, targeting C new locations for potential development in the upcoming year[6] - Wynn Resorts is considering strategic acquisitions to enhance its portfolio, with D potential targets identified[6] - The company aims to improve operational efficiency, targeting a reduction in operating costs by E% over the next fiscal year[6] - Wynn Resorts plans to invest F million in technology upgrades to enhance customer experience and operational capabilities[6] - Wynn Resorts is committed to sustainability initiatives, with plans to reduce carbon emissions by I% over the next five years[6] Cash and Dividends - The company announced a cash dividend of $0.25 per share, payable on August 30, 2024[6]

Group 1 - Wynn Resorts is expected to report Q3 earnings of $1.14 per share, an increase from $0.91 per share in the same period last year [1] - The company projects quarterly revenue of $1.75 billion, up from $1.54 billion a year ago [1] - Morgan Stanley analyst Stephen Grambling has maintained an Equal-Weight rating on Wynn Resorts and lowered the price target from $115 to $107 [1] Group 2 - Wynn Resorts currently offers an annual dividend yield of 1.36%, translating to a quarterly dividend of $0.25 per share, or $1.00 annually [1] - To earn $500 monthly from dividends, an investment of approximately $441,300 or around 6,000 shares is required [2] - For a more modest income of $100 monthly, an investment of $88,260 or around 1,200 shares is needed [2] Group 3 - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price, which can fluctuate [3] - If a stock's price increases, the dividend yield decreases, and vice versa [3] - Wynn Resorts shares fell 4.2% to close at $73.55 on Monday [3]

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) are 4.4% lower at $79.22 at last check, pulling back from yesterday's bounce that followed the casino operators better-than-expected results for the second quarter. On the charts, WYNN's 20-day moving average has steadily guided it lower since it touched an annual high of $110.38 on April 4. The security is now trading at its lowest levels since November 2022, down 13.1% in 2024. Plus, seasonality suggests the shares are going to drop even more.According to data ...

Core Viewpoint - Wynn Resorts Ltd. shares have declined 4.7% year-to-date, trading closer to its 52-week lows, while the S&P 500 index has risen 16.69% YTD, presenting a potential buying opportunity for investors [1] Group 1: Market Conditions - The closure of Tropicana and Mirage in Las Vegas will reduce room capacity by nearly 5%, potentially increasing demand for existing hotels like Wynn [2] - Investor sentiment in Las Vegas remains low due to rising labor costs and macroeconomic uncertainty, but average daily room rates are increasing, indicating room for growth as occupancy has not yet returned to pre-pandemic levels [3] - Macau's gross gaming revenue rose 16.4% YoY to $2.5 billion in May 2024, with a 41.9% YoY increase for the first half of 2024, reaching 74% of its 2019 pre-pandemic level [4] Group 2: Strategic Developments - Wynn Resorts is advancing plans for a hotel-casino in Ras Al Khaimah, UAE, where gambling laws are softening, with projected gross gaming revenue of $1.38 billion and net revenue of $1.8 billion [5] - Analysts have upgraded WYNN shares following a strong Q1 2024 performance, with EPS of $1.59 and revenues of $1.86 billion, leading to a consensus rating of "Moderate Buy" [6] Group 3: Technical Analysis - WYNN stock is forming a bullish shark pattern, with potential upside targets of $99.06 and $110.38, indicating a possible rebound in stock price [7]

The Grand Lisboa and Wynn casino, Macau, China. (Photo by: Bob Henry/UCG/Universal Images Group via ... [+] Getty Images)UCG/Universal Images Group via Getty ImagesWynn stock currently trades at $92 per share, roughly 34% below its pre-inflation shock high of $140 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 inflows into the region. Now the situation in the Macau gamin ...

Core Viewpoint - Wynn Resorts, Limited (NASDAQ:WYNN) shares are currently down 7.9% this quarter and are approaching a seasonal decline, which could further impact stock prices [1][6]. Stock Performance - Wynn Resorts shares are 1.1% lower at $93.84, significantly below the nearly 52-week high of $110.38 reached on April 4 [1]. - Over the past decade, Wynn has averaged a loss of 3.1% in June, finishing lower in seven out of ten years [4]. Analyst Ratings and Price Targets - Among 14 analysts covering Wynn, 10 recommend a "strong buy" rating, indicating optimism despite current performance [5]. - The 12-month consensus price target for Wynn is $124.935, representing a 32.7% premium to current levels [5]. Options Market Activity - Wynn Resorts has a 50-day call/put volume ratio of 5.89, ranking higher than 98% of readings from the past year, suggesting a bullish sentiment in the options market [6]. - The Schaeffer's Volatility Index (SVI) for Wynn is at 25%, placing it in the low 7th percentile of the last 12 months, indicating low volatility expectations [6].