Wynn Resorts said the increase in operating revenues for 2024 was primarily driven by increases of $330.8 million at Wynn Palace, $251.1 million at Wynn Macau, and $91.3 million at Las Vegas Operations. It cited an increase in gaming volumes and restaurant covers at its Macau Operations.

1. 01

   Wynn Resorts said the increase in operating revenues for 2024 was primarily driven by increases of $330.8 million at Wynn Palace, $251.1 million at Wynn Macau, and $91.3 million at Las Vegas Operations. It cited an increase in gaming volumes and restaurant covers at its Macau Operations.

2. 02

   The company said the decrease in net income attributable to Wynn Resorts for 2024 was primarily related to a decrease in the benefit from income taxes of $500.5 million. For 2024, the company recorded income tax expense of $3.7 million, compared to an income tax benefit of $496.8 million for 2023.

3. 03

   Wynn Resorts said property charges and other expenses for 2024 consisted primarily of $130.0 million of forfeitures pursuant to a non-prosecution agreement, the company's $9.4 million contribution towards a legal settlement, and $61.5 million of expensed project costs related to a discontinued development project.

4. 04

   The company said it invested $541.7 million in cash contributions in Island 3 during 2024, bringing cumulative cash contributions to $631.7 million. During 2024, Wynn Resorts repurchased 4,500,888 shares of its common stock for $401.8 million, and as of December 31, 2024, the remaining authorized repurchase capacity was $813.0 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$7.1B

Operating income

$1.1B

Net income

$501M

EPS

$4.35

Operating cash flow

$1.4B

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

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