Wynn Resorts Ltd

Latest Results (19.12.2024):

Net Loss and Earnings

Wynn Resorts Ltd reported a net loss attributable to the company of $32.1 million for the third quarter of 2024, a significant improvement from the net loss of $116.7 million in the same quarter of 2023. The adjusted net income for the third quarter of 2024 was $98.9 million, or $0.90 per diluted share, compared to $112.0 million, or $0.99 per diluted share, in the third quarter of 2023.

Revenue Growth

For the third quarter of 2024, Wynn Resorts Ltd's operating revenues were $1.69 billion, marking an increase of $21.4 million from $1.67 billion in the third quarter of 2023. This growth was driven by increased revenues at Wynn Macau and Encore Boston Harbor, which offset declines at Las Vegas Operations and Wynn Palace.

Adjusted Property EBITDAR

Wynn Resorts Ltd reported an Adjusted Property EBITDAR of $527.7 million for the third quarter of 2024, a slight decrease from $530.4 million in the same period of 2023. The EBITDAR saw increases at Wynn Macau and Encore Boston Harbor, while experiencing declines at Las Vegas Operations and Wynn Palace.

Dividend Announcement

The Board of Directors of Wynn Resorts Ltd declared a cash dividend of $0.25 per share for the third quarter of 2024. This dividend is payable on November 27, 2024, to stockholders of record as of November 15, 2024, reflecting the company's commitment to returning capital to shareholders.

Share Repurchase Program

During the third quarter of 2024, Wynn Resorts Ltd repurchased 1,464,773 shares of its common stock at an average price of $80.37 per share, totaling $117.7 million. The Board has increased the share repurchase authorization to $1 billion, indicating a strong focus on enhancing shareholder value through opportunistic share repurchases.