The company said the increase in operating revenues for the 3 months ended June 30, 2024 was mainly driven by increases of $79.7 million at Wynn Palace and $35.7 million at Wynn Macau. The company also said operating revenues at its Las Vegas Operations rose $50.6 million, reflecting higher ADR and restaurant covers.

1. 01

   The company said the increase in operating revenues for the 3 months ended June 30, 2024 was mainly driven by increases of $79.7 million at Wynn Palace and $35.7 million at Wynn Macau. The company also said operating revenues at its Las Vegas Operations rose $50.6 million, reflecting higher ADR and restaurant covers.

2. 02

   The company said property charges and other for Q2 2024 reflected $61.5 million of expensed project costs for a discontinued development project and a $24.6 million gain on the sale of Wynn Interactive assets. It said the company will not pursue the phased development project adjacent to Encore Boston Harbor, and that the expense amount includes $4.7 million of allocated internal overhead.

3. 03

   The company said it contributed $356.5 million in cash to Island 3 on Q2 2024, bringing its cumulative cash contributions to $514.4 million. It estimated its remaining 40% pro rata share of required equity at about $900 million, and said Wynn Al Marjan Island is expected to open in 2027.

4. 04

   The company said that in February 2024, WRF issued an additional 7 1/8% Senior Notes due 2031 totaling $400.0 million, generating net proceeds of about $409.5 million. It said it repurchased $800.0 million in principal amount of its 5 1/2% Senior Notes due 2025 on February 2024 and March.

Key figures

Quarter ended June 30, 2024

Revenue

$1.7B

Operating income

$270M

Net income

$112M

EPS

$0.91

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). 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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.