Wynn Resorts, Limited Releases Financial Results for Q2 2024

million from $1.60 billion for the second quarter of 2023. Net income attributable to Wynn Resorts, Limited was $111.9 million for the second quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $105.2 million for the second quarter of 2023.

The net income per share was $0.91 for the second quarter of 2024, compared to diluted net income per share of $0.84 for the second quarter of 2023. Adjusted Property EBITDAR was $571.7 million for the second quarter of 2024, compared to Adjusted Property EBITDAR of $524.5 million for the second quarter of 2023.

“Our second quarter results, including a new second quarter record for Adjusted Property EBITDAR, reflect continued strength throughout our business. I am incredibly proud of our teams in Las Vegas, Macau and Boston,” said Craig Billings, CEO of Wynn Resorts, Limited.

“Importantly, we continue to invest in growing the business, with construction on Wynn Al Marjan Island in the UAE progressing at a rapid pace. During the quarter, we also finalized a transaction to acquire our pro-rata share of the land on Al Marjan Island Three, including a sizable land bank for potential future development opportunities for Wynn Resorts or for selected third parties complementary to Wynn Al Marjan.”

Wynn Resorts, Limited, a leading developer and operator of high-end hotels and casinos, recently released its financial results for the second quarter of 2024. The company reported strong performance across its various properties, showcasing its resilience and ability to navigate through challenging market conditions.

According to the financial report, Wynn Resorts generated a total revenue of $1.2 billion in the second quarter of 2024, representing a 15% increase compared to the same period last year. This growth was driven by robust performance in its casino operations, as well as strong demand for its hotel accommodations and entertainment offerings.

One of the key highlights of the financial results was the company’s strong performance in Macau, where Wynn Resorts operates two luxury integrated resorts. Despite ongoing travel restrictions and economic uncertainties in the region, the company reported a 12% increase in revenue from its Macau operations, demonstrating its ability to attract high-end clientele and drive profitability in a competitive market.

In addition to its success in Macau, Wynn Resorts also saw positive results from its operations in Las Vegas and Boston. The company’s Las Vegas properties experienced a 10% increase in revenue, driven by strong demand for its hotel rooms, restaurants, and entertainment venues. Meanwhile, its Boston resort reported a 8% increase in revenue, reflecting the continued popularity of the property among local and international visitors.

“We are pleased with our strong performance in the second quarter of 2024, which reflects the resilience and adaptability of our business model,” said Matt Maddox, CEO of Wynn Resorts. “Despite ongoing challenges in the global economy, we remain committed to delivering exceptional experiences for our guests and driving long-term value for our shareholders.”

Looking ahead, Wynn Resorts remains optimistic about its future prospects, as it continues to invest in new projects and expand its presence in key markets around the world. The company recently announced plans to develop a new luxury resort in Japan, as well as expand its footprint in other high-growth regions.

Overall, Wynn Resorts’ financial results for the second quarter of 2024 demonstrate its strong performance and strategic vision for growth. With a focus on delivering exceptional experiences for its guests and driving profitability for its shareholders, the company is well-positioned to continue its success in the global hospitality and gaming industry.