Wynn Resorts has published its financial report for Q3 2024 revealing operating revenues of $1.69 billion, marginal increase of 1.2% compared to the $1.67 billion reported in Q3 2023.
The latest figures represent a drop of 2.3% compared to Q2 2024 when operating revenues were $1.73 billion. However, the report noted that this was the third quarter in a row that operating revenues had increased year-on-year.
Meanwhile, Adjusted Property EBITDAR was $527.7 million for the reporting period, compared to $530.4 million for the third quarter of 2023.
Overall the group reported a net loss of $32.1 million for the quarter a a result of poor performance in its Las Vegas operations during the quarter.
Q3 2024 Key Highlights
Group results
- Operating revenues – $1.69 billion, up by 1.2% Wynn Resorts Reveals Net Loss of $32.1 Million in Q3 2024
- Operating income – $133.2 million, up by 113.1% Wynn Resorts Reveals Net Loss of $32.1 Million in Q3 2024
Individual resort and subsidiary operating incomes (losses)
- Wynn Palace – $85.4 million
- Wynn Macau – $66.3 million
- Las Vegas Operations – ($28 million)
- Encore Boston Harbor – $4 million
Speaking of the latest results, Craig Billings, CEO of Wynn Resorts said:
“Our third quarter results reflect healthy demand across our resorts highlighted by strong mass gaming win in Macau and solid non-gaming performance in Las Vegas. 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.
Wynn Resorts Reveals Net Loss of $32.1 Million in Q3 2024
WYNN stock currently has a Market Cap of $10.66 B, trading at $96.07.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.