Wynn Resorts reports revenue rise

Wynn Resorts’ Q3 results revealed operating revenues of $1.67bn, an increase of $782.2m from $889.7m in the third quarter of 2022.

Net loss was $116.7m for the third quarter of 2023, compared to $142.9m for 2022. Diluted net loss per share was $1.03 compared to $1.27 for Q3 2022. Adjusted property EBITDAR was $530.4m compared to $173.5m in 2022.

“Our third quarter results reflect continued strength across our property portfolio,” said CEO Craig Billings.

“Our teams at Wynn Las Vegas and Encore Boston Harbor delivered a new third-quarter record for adjusted property EBITDAR at our combined North American properties as we continue to elevate our properties above those of our peers.

“In Macau, the recovery continued to progress during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses.

“On the development front, construction on Wynn Al Marjan Island is well under way and we are confident the resort will be a ‘must-see’ tourism destination in the UAE.”