Financial Performance & Growth - Wynn Resorts reported a total Adjusted Property EBITDAR of $23 billion for the Last Twelve Months (LTM) ending in 1Q25[28] - The company's Las Vegas operations showed strong performance, with LTM 1Q25 Adjusted Property EBITDAR reaching $924 million, although this was a decrease of 39% compared to $961 million in LTM 1Q24[43] - Macau operations generated $1088 million in Adjusted Property EBITDAR for LTM 1Q25, a decrease of 44% from $1138 million in LTM 1Q24[54] - Encore Boston Harbor's LTM 1Q25 Adjusted Property EBITDAR was $241 million, a decrease of 61% compared to $257 million in LTM 1Q24[48] - Wynn Al Marjan Island is projected to contribute between $265 million (Low Case) and $460 million (High Case) in steady-state EBITDAR, with a base case of $345 million[25] Capital Investments & Returns - Wynn Resorts has returned over $11 billion to shareholders since 2022, including approximately $950 million in share repurchases and $220 million in dividends[28, 75] - The company anticipates spending between $750 million and $800 million on domestic project capital expenditures in 2025, including investments in Wynn Al Marjan Island, Las Vegas, and Boston[69] - Macau concession capex projects are underway, with projected spending between $250 million and $300 million in 2025[68, 71] Strategic Developments - Wynn Al Marjan Island is under construction and is expected to open in 1Q2027[10, 24] - The company completed a $24 billion construction facility for Wynn Al Marjan Island, with an initial debt draw of $250 million during 1Q25[62] - Wynn Resorts is in the process of acquiring Crown London Aspinalls, which is expected to enhance database building efforts for VIP customers[9, 62]