Wynn Resorts announces that its operating income increased by 79.6% during 2021

 Wynn Resorts has noted that for the year ended December 31, 2021, operating revenues increased 79.6%, or $1.67 billion, to $3.76 billion, compared to $2.10 billion in the year ended December 31, 2020. Operating revenues increased $377.6 million, $151.4 million, $755.7 million, and $329.9 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively.

As for Adjusted Property EBITDA, the report says it was $149.1 million for the fourth quarter of 2021, compared to $69.8 million for the fourth quarter of 2020. Adjusted Property EBITDA increased $165.1 million and $51.6 million at our Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $30.1 million and $35.2 million at Wynn Palace and Wynn Macau, respectively. Adjusted Property EBITDA was $(79.4) million at Corporate and other for the fourth quarter of 2021.

Craig Billings, executive director of Wynn Resorts, has been proud of the team and highlights that “Our relentless focus on five-star hospitality and world class experiences allowed us to further extend our leadership positions in Las Vegas and Massachusetts in 2021. In Macau , we remain confident that the market will benefit from the return of visitation over the coming quarters."

Next, we share the most outstanding property results according to the report presented:

Wynn Palace
Operating revenues from Wynn Palace were $194.0 million for the fourth quarter of 2021, a 12.4% decrease from $221.5 million for the fourth quarter of 2020. Adjusted Property EBITDA from Wynn Palace was $(1.4) million for the fourth quarter of 2021, compared with $28.7 million for the fourth quarter of 2020. VIP table games win as a percentage of turnover was 2.59%, below the property's expected range of 2.7% to 3.0% and above the 1.97% experienced in the fourth quarter of 2020. Table games win percentage in mass market operations was 22.7%, above the 21.6% experienced in the fourth quarter of 2020.

Wynn Macau

Operating revenues from Wynn Macau were $131.7 million for the fourth quarter of 2021, a 27.6% decrease from $181.9 million for the fourth quarter of 2020. Adjusted Property EBITDA from Wynn Macau was $(24.5) million for the fourth quarter of 2021, compared with $10.7 million for the fourth quarter of 2020. VIP table games win as a percentage of turnover was 2.85%, within the property's expected range of 2.7% to 3.0% and below the 3.10% experienced in the fourth quarter of 2020. Table games win percentage in mass market operations was 17.4%, below the 17.9% experienced in the fourth quarter of 2020.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $493.9 million for the fourth quarter of 2021, a 186.3% increase from $172.5 million for the fourth quarter of 2020. Adjusted Property EBITDA from our Las Vegas Operations for the fourth quarter of 2021 was $186.2 million, compared with $21.0 million for the fourth quarter of 2020. Table games win percentage was 20.8%, below the property's expected range of 22% to 26% and below the 24.4% experienced in the fourth quarter of 2020.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $204.0 million for the fourth quarter of 2021, a 96.4% increase from $103.9 million for the fourth quarter of 2020. Adjusted Property EBITDA from Encore Boston Harbor for the fourth quarter of 2021 was $68.2 million, compared with $16.7 million for the fourth quarter of 2020. Table games win percentage was 22.2%, above the property's expected range of 18% to 22% and above the 20.9% experienced in the fourth quarter of 2020.


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