As Wynn Resorts shared its financial results for the quarter ending September 30, 2024, CEO Craig Billings said they reflected “healthy demand across our resorts highlighted by strong mass gaming win in Macau and solid non-gaming performance in Las Vegas.”
Operating revenues for the quarter reached US$1.69bn, an increase of $21.4m from the Q3 2023 total of $1.67bn.
Net loss attributable to Wynn Resorts was $32.1mfor the quarter, compared to a net loss of $116.7m for the previous year’s period.
Adjusted Property EBITDAR was $527.7m down from Adjusted Property EBITDAR of $530.4m for Q3 2023.
"The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets," continued Billings.
"Importantly, we are also continuing to invest in growing the business with construction on Wynn Al Marjan Island rapidly advancing. We are confident the resort will be a 'must see' tourism destination in the UAE and expect that it will support strong long-term free cash flow growth.
At the same time, we continue to increase the return of capital to shareholders through our recurring dividend and opportunistic share repurchases. To that end, we are pleased to announce that the board has increased our share repurchase authorisation to $1bn.
“We are excited about the outlook for the company, and we will continue to focus on driving long-term returns for shareholders."
