Wynn Resorts, Limited Reports Second Quarter 2022 Results

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LAS VEGAS–()–Wynn Resorts, Limited (NASDAQ: WYNN) (the “Company”) today reported financial results for the second quarter ended June 30, 2022.

Operating revenues were $908.8 million for the second quarter of 2022, a decrease of $81.3 million, from $990.1 million for the second quarter of 2021. Net loss attributable to Wynn Resorts, Limited was $130.1 million, or $1.14 per diluted share, for the second quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $131.4 million, or $1.15 per diluted share, in the second quarter of 2021. Adjusted Property EBITDA(1) was $179.2 million for the second quarter of 2022, compared to Adjusted Property EBITDA of $206.9 million in the second quarter of 2021.

“Our second quarter financial results reflect continued strength at both Wynn Las Vegas and Encore Boston Harbor. Our teams’ ongoing focus on five-star hospitality and new experiences at our market-leading properties combined with very strong customer demand drove a new all-time quarterly record for Adjusted Property EBITDA at Wynn Las Vegas and a second quarter record at Encore Boston Harbor,” said Craig Billings, CEO of Wynn Resorts, Limited. “In Macau, while COVID-related travel restrictions continued to impact our results, we remain confident that the market will benefit from the return of visitation over time.”

Consolidated Results

Operating revenues were $908.8 million for the second quarter of 2022, a decrease of $81.3 million, from $990.1 million for the second quarter of 2021. For the second quarter of 2022, operating revenues increased $206.0 million and $44.9 million at our Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $211.7 million and $125.4 million at Wynn Palace and Wynn Macau, respectively, from the second quarter of 2021.

Net loss attributable to Wynn Resorts, Limited was $130.1 million, or $1.14 per diluted share, for the second quarter of 2022, compared to net loss…