The company said the increase in operating revenues for Q1 2024 (3 months) came mainly from increases at Wynn Palace of $217.5 million and at Wynn Macau of $181.0 million. It cited higher gaming volumes, hotel occupancy and restaurant covers as the factors behind the increase.

1. 01

   The company said the increase in operating revenues for Q1 2024 (3 months) came mainly from increases at Wynn Palace of $217.5 million and at Wynn Macau of $181.0 million. It cited higher gaming volumes, hotel occupancy and restaurant covers as the factors behind the increase.

2. 02

   Wynn Resorts said casino revenues for Q1 2024 were 60.2% of operating revenues, compared with 53.9% in the same period a year earlier. Over the same period, room revenues rose $54.9 million and food and beverage revenues rose $34.3 million, while entertainment, retail and other revenues fell $4.5 million.

3. 03

   The company said casino expenses for Q1 2024 rose $111.1 million at Wynn Palace and $83.3 million at Wynn Macau. It said these increases included incremental gaming tax expense of $102.3 million at Wynn Palace and $78.6 million at Wynn Macau, and that the expense was driven by higher casino revenues.

4. 04

   The company said it issued an additional 7 1/8% Senior Notes due 2031 on February 2024, raising net proceeds of about $409.5 million $400.0 million. The company said that in 2024 it repurchased $800.0 million in principal of its WLV Senior Notes due 2025 at 5 1/2% February–March.

Key figures

Quarter ended March 31, 2024

Revenue

$1.9B

Operating income

$363M

Net income

$144M

EPS

$1.30

Operating cash flow

$315M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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