Wynn Resorts posts Q4 operating revenue of $1bn
The operator reported significant financial growth in its Las Vegas operations.
Wynn Resorts has released its fourth quarter and end-of-year results for 2022.
During the fourth quarter, the company reported an operating revenue of $1bn, reflecting a $48.2m decrease year-over-year. Net income reached $32.4m during Q4, or $0.29 per diluted share.
The company also posted an adjusted property EBITDAR of more than $195.1m during the fourth quarter.
Wynn Resorts published similar trends in its financial results for the year. Operating revenue reached $3.76bn for the fiscal year. The company’s Las Vegas operations reported a $628.5m boost year-over-year.
Wynn Resorts CEO Craig Billings said about the year’s results: “Our teams at Wynn Las Vegas and Encore Boston Harbor delivered a new fourth-quarter record for adjusted property EBITDAR at our combined North American properties. For the full year of 2022, these properties generated $1.04bn of adjusted property EBITDAR, a record for us by a wide margin.
“These impressive results are a testament to our team’s relentless focus on delivering five-star hospitality, which continues to elevate our properties above our peers as the destinations of choice for luxury guests in both Las Vegas and Massachusetts.”
He went on to elaborate about the progress the group has made in Macau during the year.
Billings concluded by saying: “In Macau, we were honored to be awarded with a new 10-year gaming concession during the quarter and were pleased to experience a meaningful return of visitation and demand during the recent Chinese New Year holiday period. We believe we are well-positioned for success in Macau’s next phase of growth.”
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