EX-99.1 2 ex991wrlq22025pressrelease.htm EX-99.1 Document

Exhibit 99.1
Wynn Resorts, Limited Reports Second Quarter 2025 Results

LAS VEGAS, August 7, 2025 — Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the second quarter ended June 30, 2025.

Operating revenues were $1.74 billion for the second quarter of 2025, an increase of $4.9 million from $1.73 billion for the second quarter of 2024. Net income attributable to Wynn Resorts, Limited was $66.2 million for the second quarter of 2025, compared to net income attributable to Wynn Resorts, Limited of $111.9 million for the second quarter of 2024. Diluted net income per share was $0.64 for the second quarter of 2025, compared to diluted net income per share of $0.91 for the second quarter of 2024. Adjusted Property EBITDAR(1) was $552.4 million for the second quarter of 2025, compared to Adjusted Property EBITDAR of $571.7 million for the second quarter of 2024.

“Our second quarter results evidenced continued strength across our business and were distinguished by a new second quarter record for Adjusted Property EBITDAR in Las Vegas,” said Craig Billings, CEO of Wynn Resorts, Limited. “In Macau, while VIP hold negatively impacted results, we generated healthy market share and significant free cash flow, supporting our continued investment in the Macau properties and our dividend program. At the same time, we are making progress towards the completion of our Wynn Al Marjan Island project in the UAE, where we are pouring the sixty-first floor of the tower, having finalized key food and beverage partnerships, and agreed to key terms with a number of high profile retail tenants. During the quarter we also continued to focus on the return of capital to shareholders through both a cash dividend and $158 million of stock repurchases.”

Consolidated Results
Operating revenues were $1.74 billion for the second quarter of 2025, an increase of $4.9 million from $1.73 billion for the second quarter of 2024. For the second quarter of 2025, operating revenues increased $6.5 million, $10.0 million, and $3.1 million at Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, and decreased $8.4 million at Wynn Palace, from the second quarter of 2024.

Net income attributable to Wynn Resorts, Limited was $66.2 million for the second quarter of 2025, compared to net income attributable to Wynn Resorts, Limited of $111.9 million for the second quarter of 2024. Diluted net income per share was $0.64 for the second quarter of 2025, compared to diluted net income per share of $0.91 for the second quarter of 2024. Adjusted net income attributable to Wynn Resorts, Limited(2) was $113.3 million, or $1.09 per diluted share, for the second quarter of 2025, compared to adjusted net income attributable to Wynn Resorts, Limited of $124.5 million, or $1.12 per diluted share, for the second quarter of 2024.

Adjusted Property EBITDAR was $552.4 million for the second quarter of 2025, a decrease of $19.3 million compared to Adjusted Property EBITDAR of $571.7 million for the second quarter of 2024. For the second quarter of 2025, Adjusted Property EBITDAR decreased $27.3 million at Wynn Palace and increased $4.5 million, $1.7 million, and $0.6 million at our Las Vegas Operations, Encore Boston Harbor, and Wynn Macau, respectively, from the second quarter of 2024.

Wynn Resorts, Limited also announced today that its Board of Directors has declared a cash dividend of $0.25 per share, payable on August 29, 2025 to stockholders of record as of August 18, 2025.

Property Results
Macau Operations
Wynn Palace
Operating revenues from Wynn Palace were $539.6 million for the second quarter of 2025, a decrease of $8.4 million from $548.0 million for the second quarter of 2024. Adjusted Property EBITDAR from Wynn Palace was $157.2 million for the second quarter of 2025, compared to $184.5 million for the second quarter of 2024. Table games win percentage in mass market operations was 22.3%, below the 23.6% experienced in the second quarter of 2024. VIP table games win as a percentage of turnover was 2.86%, below the property's expected range of 3.1% to 3.4% and below the 4.10% experienced in the second quarter of 2024.

1


Wynn Macau
Operating revenues from Wynn Macau were $343.8 million for the second quarter of 2025, an increase of $6.5 million from $337.3 million for the second quarter of 2024. Adjusted Property EBITDAR from Wynn Macau was $96.5 million for the second quarter of 2025, compared to $95.9 million for the second quarter of 2024. Table games win percentage in mass market operations was 17.4%, slightly below the 17.5% experienced in the second quarter of 2024. VIP table games win as a percentage of turnover was 3.41%, slightly above the property's expected range of 3.1% to 3.4% and above the 2.19% experienced in the second quarter of 2024.

Las Vegas Operations
Operating revenues from our Las Vegas Operations were $638.6 million for the second quarter of 2025, an increase of $10.0 million from $628.7 million for the second quarter of 2024. Adjusted Property EBITDAR from our Las Vegas Operations for the second quarter of 2025 was $234.8 million, compared to $230.3 million for the second quarter of 2024. Table games win percentage for the second quarter of 2025 was 21.8%, slightly below the property's expected range of 22% to 26% and below the 21.9% experienced in the second quarter of 2024.

Encore Boston Harbor
Operating revenues from Encore Boston Harbor were $215.7 million for the second quarter of 2025, an increase of $3.1 million from $212.6 million for the second quarter of 2024. Adjusted Property EBITDAR from Encore Boston Harbor for the second quarter of 2025 was $63.9 million, compared to $62.1 million for the second quarter of 2024. Table games win percentage for the second quarter of 2025 was 21.3%, within the property's expected range of 18% to 22% and above the 19.6% experienced in the second quarter of 2024.

Wynn Al Marjan Island Development
During the second quarter of 2025, the Company contributed $58.2 million of cash to the 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing our life-to-date cash contributions to the project to $741.1 million. Wynn Al Marjan Island is currently expected to open in 2027.

Balance Sheet
Our cash and cash equivalents as of June 30, 2025 totaled $1.98 billion, comprised of $1.47 billion held by Wynn Macau, Limited ("WML") and subsidiaries, $231.2 million held by Wynn Resorts Finance, LLC ("WRF") and subsidiaries excluding WML, and $278.6 million held at Corporate and other. As of June 30, 2025, the available borrowing capacity under the WRF Revolver and the WM Cayman II Revolver was $1.24 billion and $350.7 million, respectively.

Total current and long-term debt outstanding at June 30, 2025 was $10.54 billion, comprised of $5.79 billion of Macau related debt, $875.4 million of Wynn Las Vegas debt, $3.28 billion of WRF debt, and $597.8 million of debt held by the retail joint venture which we consolidate.

Recent Debt Financing Activities

In June 2025, we amended the WRF credit agreement to obtain $500.0 million in incremental revolving commitments and extend the maturity dates of the term loans and revolving commitments under the credit facility to June 2030.

In July 2025, we increased the borrowing capacity under the WM Cayman II Revolver by an additional aggregate amount of $1.0 billion equivalent through the exercise of an accordion feature under the facility agreement. As a result, the total committed amount of the WM Cayman II Revolver was increased to $2.5 billion equivalent.

Equity Repurchase Program

During the second quarter of 2025, the Company repurchased 2,004,418 shares of its common stock under its publicly announced equity repurchase program at an average price of $78.88 per share, for an aggregate cost of $158.1 million. As of June 30, 2025, the Company had $454.9 million in repurchase authority remaining under the equity repurchase program.

Conference Call and Other Information
The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on August 7, 2025 at 1:30 p.m. PT (4:30 p.m. ET). Interested parties are invited to join the call by accessing a live audio webcast at http://www.wynnresorts.com. On or before August 14, 2025, the Company will make Wynn Resorts
2


Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended June 30, 2025 available to noteholders, prospective investors, broker-dealers and securities analysts. Please contact our investor relations office at 702-770-7555 or at investorrelations@wynnresorts.com, to obtain access to such financial information.

Forward-looking Statements
This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, reductions in discretionary consumer spending, adverse macroeconomic conditions and their impact on levels of disposable consumer income and wealth, changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, general global political conditions, adverse tourism trends, travel disruptions caused by events outside of our control, dependence on a limited number of resorts, competition in the casino/hotel and resort industries, uncertainties over the development and success of new gaming and resort properties, construction and regulatory risks associated with current and future projects (including Wynn Al Marjan Island), cybersecurity risk and our leverage and ability to meet our debt service obligations. Additional information concerning potential factors that could affect the Company's financial results is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as supplemented by the Company's other periodic reports filed with the Securities and Exchange Commission from time to time. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures
(1) "Adjusted Property EBITDAR" is net income before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other expenses, triple-net operating lease rent expense related to Encore Boston Harbor, management and license fees, corporate expenses and other expenses (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on debt financing transactions, and other non-operating income and expenses. Adjusted Property EBITDAR is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDAR as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors, as well as a basis for determining certain incentive compensation. We also present Adjusted Property EBITDAR because it is used by some investors to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDAR as a supplement to GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their EBITDAR calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDAR should not be considered as an alternative to operating income as an indicator of our performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDAR does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. We have significant uses of cash flows, including capital expenditures, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, our calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

(2) "Adjusted net income attributable to Wynn Resorts, Limited" is net income attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other expenses, change in derivatives fair value, loss on debt financing transactions, foreign currency remeasurement and other, and income taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share are presented as supplemental disclosures to financial measures in accordance with GAAP because management believes that these non-GAAP financial measures are widely used to measure the performance, and as a principal basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to net income per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

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The Company has included schedules in the tables that accompany this release that reconcile (i) net income attributable to Wynn Resorts, Limited to adjusted net income attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDAR, and (iii) net income attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.

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WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
(unaudited) 

 Three Months Ended
June 30,
Six Months Ended
June 30,
 2025202420252024
Operating revenues:
Casino$1,051,834 $1,008,946 $2,092,264 $2,130,412 
Rooms291,053 304,521 565,574 631,935 
Food and beverage261,057 281,404 510,936 548,342 
Entertainment, retail and other133,853 138,061 269,420 285,152 
Total operating revenues1,737,797 1,732,932 3,438,194 3,595,841 
Operating expenses:
Casino643,108 614,518 1,277,941 1,289,957 
Rooms86,042 80,538 170,139 162,615 
Food and beverage224,400 221,343 425,067 427,164 
Entertainment, retail and other58,041 62,941 120,227 133,953 
General and administrative280,815 264,727 556,504 536,343 
    Provision for credit losses3,353 2,429 4,749 2,516 
Pre-opening 11,286 1,558 16,573 3,593 
Depreciation and amortization152,907 176,405 308,328 351,338 
Property charges and other13,245 38,815 25,477 55,763 
Total operating expenses1,473,197 1,463,274 2,905,005 2,963,242 
Operating income 264,600 269,658 533,189 632,599 
Other income (expense):
Interest income15,859 34,884 35,218 75,056 
Interest expense, net of amounts capitalized(154,551)(174,596)(312,159)(357,000)
Change in derivatives fair value(1,112)15,517 (30,651)(2,397)
Loss on debt financing transactions(1,083)— (1,083)(1,561)
Other(36,164)8,745 (44,538)4,023 
Other income (expense), net(177,051)(115,450)(353,213)(281,879)
Income before income taxes87,549 154,208 179,976 350,720 
Provision for income taxes(10,588)(7,935)(21,610)(27,949)
Net income76,961 146,273 158,366 322,771 
Less: net income attributable to noncontrolling interests(10,743)(34,330)(19,401)(66,612)
Net income attributable to Wynn Resorts, Limited$66,218 $111,943 $138,965 $256,159 
Basic and diluted net income per common share:
Net income attributable to Wynn Resorts, Limited:
Basic$0.64 $1.01 $1.33 $2.31 
Diluted$0.64 $0.91 $1.33 $2.30 
Weighted average common shares outstanding:
Basic103,491 110,937 104,486 110,980 
Diluted103,780 111,175 104,749 111,222 
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WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED
TO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED
(in thousands, except per share data)
(unaudited)
 
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2025202420252024
Net income attributable to Wynn Resorts, Limited$66,218 $111,943 $138,965 $256,159 
Pre-opening expenses11,286 1,558 16,573 3,593 
Property charges and other13,245 38,815 25,477 55,763 
Change in derivatives fair value1,112 (15,517)30,651 2,397 
Loss on debt financing transactions1,083 — 1,083 1,561 
Foreign currency remeasurement and other 36,164 (8,745)44,538 (4,023)
Income tax impact on adjustments(3,178)(9,684)(4,854)(10,252)
Noncontrolling interests impact on adjustments(12,595)6,135 (25,953)(3,892)
Adjusted net income attributable to Wynn Resorts, Limited$113,335 $124,505 $226,480 $301,306 
Adjusted net income attributable to Wynn Resorts, Limited per diluted share$1.09 $1.12 $2.16 $2.71 
Weighted average common shares outstanding - diluted103,780 111,175 104,749 111,222 




6


WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)

Three Months Ended June 30, 2025
Wynn Palace Wynn MacauOther Macau Total Macau Operations Las Vegas Operations Encore Boston HarborCorporate and Other Total
Operating income (loss)$72,760 $62,988 $(7,464)$128,284 $110,457 $1,047 $24,812 $264,600 
Pre-opening expenses3,004 — — 3,004 2,095 — 6,187 11,286 
Depreciation and amortization 59,344 18,280 398 78,022 58,821 14,229 1,835 152,907 
Property charges and other 1,115 1,233 10 2,358 8,363 1,047 1,477 13,245 
Management and license fees 17,605 10,648 — 28,253 30,125 10,449 (68,827) 
Corporate expenses and other 2,045 2,079 6,137 10,261 7,594 1,585 27,006 46,446 
Stock-based compensation 1,333 1,282 919 3,534 17,357 436 7,510 28,837 
Triple-net operating lease rent expense — — —  — 35,066 — 35,066 
Adjusted Property EBITDAR$157,206 $96,510 $ $253,716 $234,812 $63,859 $ $552,387 


Three Months Ended June 30, 2024
Wynn Palace Wynn MacauOther Macau Total Macau Operations Las Vegas Operations Encore Boston HarborCorporate and Other Total
Operating income (loss)$108,249 $61,172 $(7,486)$161,935 $124,738 $(17,827)$812 $269,658 
Pre-opening expenses— — —  334 515 709 1,558 
Depreciation and amortization 55,316 20,035 390 75,741 61,885 31,733 7,046 176,405 
Property charges and other 272 883 1,157 1,906 (174)35,926 38,815 
Management and license fees 17,360 10,486 — 27,846 29,675 10,395 (67,916) 
Corporate expenses and other 2,005 1,999 5,983 9,987 7,957 1,752 14,014 33,710 
Stock-based compensation1,257 1,336 1,111 3,704 3,838 395 8,230 16,167 
Triple-net operating lease rent expense— — —  — 35,342 — 35,342 
Adjusted Property EBITDAR$184,459 $95,911 $ $280,370 $230,333 $62,131 $(1,179)$571,655 
























7


WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)

Six Months Ended June 30, 2025
Wynn Palace Wynn MacauOther Macau Total Macau Operations Las Vegas Operations Encore Boston HarborCorporate and Other Total
Operating income (loss)$155,325 $115,730 $(15,623)$255,432 $226,536 $(9,688)$60,909 $533,189 
Pre-opening expenses4,204 — — 4,204 2,855 — 9,514 16,573 
Depreciation and amortization 115,781 37,504 796 154,081 121,449 28,195 4,603 308,328 
Property charges and other 1,823 5,439 16 7,278 9,065 6,563 2,571 25,477 
Management and license fees 35,105 21,021 — 56,126 59,448 20,590 (136,164) 
Corporate expenses and other 4,251 4,394 12,887 21,532 15,488 3,273 42,734 83,027 
Stock-based compensation 2,602 2,621 1,924 7,147 23,332 1,925 15,833 48,237 
Triple-net operating lease rent expense — — —  — 70,455 — 70,455 
Adjusted Property EBITDAR$319,091 $186,709 $ $505,800 $458,173 $121,313 $ $1,085,286 


Six Months Ended June 30, 2024
Wynn Palace Wynn MacauOther Macau Total Macau Operations Las Vegas Operations Encore Boston HarborCorporate and Other Total
Operating income (loss)$221,841 $162,176 $(16,099)$367,918 $271,187 $(34,919)$28,413 $632,599 
Pre-opening expenses— — —  736 647 2,210 3,593 
Depreciation and amortization 110,443 40,079 770 151,292 120,629 63,076 16,341 351,338 
Property charges and other 11,692 446 112 12,250 2,175 170 41,168 55,763 
Management and license fees 36,288 23,345 — 59,633 59,917 21,023 (140,573) 
Corporate expenses and other 4,388 4,501 13,120 22,009 15,951 3,718 31,937 73,615 
Stock-based compensation2,177 2,550 2,097 6,824 6,000 805 16,907 30,536 
Triple-net operating lease rent expense— — —  — 70,746 — 70,746 
Adjusted Property EBITDAR$386,829 $233,097 $ $619,926 $476,595 $125,266 $(3,597)$1,218,190 























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WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO
ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)

 Three Months Ended
June 30,
Six Months Ended
June 30,
 2025202420252024
Net income attributable to Wynn Resorts, Limited$66,218 $111,943 $138,965 $256,159 
Net income attributable to noncontrolling interests10,743 34,330 19,401 66,612 
Pre-opening expenses11,286 1,558 16,573 3,593 
Depreciation and amortization152,907 176,405 308,328 351,338 
Property charges and other13,245 38,815 25,477 55,763 
Triple-net operating lease rent expense35,066 35,342 70,455 70,746 
Corporate expenses and other46,446 33,710 83,027 73,615 
Stock-based compensation28,837 16,167 48,237 30,536 
Interest income(15,859)(34,884)(35,218)(75,056)
Interest expense, net of amounts capitalized154,551 174,596 312,159 357,000 
Change in derivatives fair value1,112 (15,517)30,651 2,397 
Loss on debt financing transactions1,083 — 1,083 1,561 
Other 36,164 (8,745)44,538 (4,023)
Provision for income taxes10,588 7,935 21,610 27,949 
Adjusted Property EBITDAR$552,387 $571,655 $1,085,286 $1,218,190 

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WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited)

 Three Months Ended
June 30,
Six Months Ended
June 30,
 20252024Percent Change20252024Percent Change
Wynn Palace Supplemental Information
Operating revenues
Casino$448,298$444,9640.7 $892,806$918,745(2.8)
Rooms38,48150,206(23.4)75,096104,142(27.9)
Food and beverage30,44629,8292.1 62,18461,8990.5 
Entertainment, retail and other22,41623,050(2.8)45,48450,164(9.3)
Total$539,641$548,049(1.5)$1,075,570$1,134,950(5.2)
Adjusted Property EBITDAR (6)
$157,206$184,459(14.8)$319,091$386,829(17.5)
Casino statistics:
VIP:
Average number of table games5257(8.8)5458(6.9)
VIP turnover$4,071,052$2,810,01644.9 $8,076,093$6,731,10020.0 
VIP table games win (1)
$116,471$115,2971.0 $221,003$244,712(9.7)
VIP table games win as a % of turnover2.86 %4.10 %2.74 %3.64 %
Table games win per unit per day$24,438$22,09210.6 $22,735$23,195(2.0)
Mass market:
Average number of table games2492432.5 2482441.6 
Table drop (2)
$1,844,054$1,738,2606.1 $3,548,452$3,520,4440.8 
Table games win (1)
$411,604$409,4090.5 $833,996$846,732(1.5)
Table games win %22.3 %23.6 %23.5 %24.1 %
Table games win per unit per day$18,171$18,484(1.7)$18,566$19,039(2.5)
Average number of slot machines6276073.3 6385908.1 
Slot machine handle$757,815$642,71317.9 $1,492,685$1,238,33420.5 
Slot machine win (3)
$32,482$25,59026.9 $61,838$56,5609.3 
Slot machine win per unit per day$569$46422.6 $535$5271.5 
Room statistics:
Occupancy98.7 %98.9 %98.5 %98.9 %
ADR (4)
$232$316(26.6)$227$326(30.4)
REVPAR (5)
$229$312(26.6)$224$323(30.7)










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WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)

Three Months Ended
June 30,
Six Months Ended
June 30,
20252024Percent Change20252024Percent Change
Wynn Macau Supplemental Information
Operating revenues
Casino$293,380$280,7174.5 $568,930$627,070(9.3)
Rooms21,74223,742(8.4)45,03952,361(14.0)
Food and beverage17,02020,003(14.9)35,81241,022(12.7)
Entertainment, retail and other11,67112,807(8.9)23,99228,560(16.0)
Total$343,813$337,2691.9 $673,773$749,013(10.0)
Adjusted Property EBITDAR (6)
$96,510$95,9110.6 $186,709$233,097(19.9)
Casino statistics:
VIP:
Average number of table games2130(30.0)2530(16.7)
VIP turnover$981,735$1,164,075(15.7)$2,418,782$2,753,760(12.2)
VIP table games win (1)
$33,438$25,47331.3 $49,152$79,379(38.1)
VIP table games win as a % of turnover3.41 %2.19 %2.03 %2.88 %
Table games win per unit per day $17,571$9,44986.0 $10,777$14,629(26.3)
Mass market:
Average number of table games2312224.1 2262221.8 
Table drop (2)
$1,617,756$1,602,9200.9 $3,160,641$3,286,071(3.8)
Table games win (1)
$280,836$280,830— $569,385$607,150(6.2)
Table games win %17.4 %17.5 %18.0 %18.5 %
Table games win per unit per day $13,346$13,905(4.0)$13,916$15,048(7.5)
Average number of slot machines75161721.7 74060023.3 
Slot machine handle$1,009,092$801,81325.9 $1,862,499$1,532,20221.6 
Slot machine win (3)
$25,193$25,978(3.0)$49,560$52,170(5.0)
Slot machine win per unit per day $369$463(20.3)$370$478(22.6)
Poker rake $2,836$3,607(21.4)$6,056$8,626(29.8)
Room statistics:
Occupancy99.4 %99.4 %99.2 %99.4 %
ADR (4)
$216$236(8.5)$225$260(13.5)
REVPAR (5)
$215$234(8.1)$223$258(13.6)




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WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)

 Three Months Ended
June 30,
Six Months Ended
June 30,
 20252024Percent Change20252024Percent Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino$148,502$129,67414.5 $309,495$264,83716.9 
Rooms207,981205,8721.0 403,849429,948(6.1)
Food and beverage194,861208,418(6.5)374,303402,028(6.9)
Entertainment, retail and other87,28984,6903.1 176,271168,3894.7 
Total$638,633$628,6541.6 $1,263,918$1,265,202(0.1)
Adjusted Property EBITDAR (6)
$234,812$230,3331.9 $458,173$476,595(3.9)
Casino statistics:
Average number of table games232234(0.9)234234— 
Table drop (2)
$609,232$536,46113.6 $1,201,759$1,140,6355.4 
Table games win (1)
$132,975$117,49613.2 $277,036$274,1071.1 
Table games win %21.8 %21.9 %23.1 %24.0 %
Table games win per unit per day$6,300$5,52913.9 $6,538$6,4441.5 
Average number of slot machines1,5641,598(2.1)1,5771,608(1.9)
Slot machine handle$1,760,253$1,648,3646.8 $3,538,339$3,144,44212.5 
Slot machine win (3)
$123,606$110,01712.4 $246,850$209,77317.7 
Slot machine win per unit per day$868$75714.7 $865$71720.6 
Poker rake$8,103$7,5018.0 $12,434$12,0233.4 
Room statistics:
Occupancy89.2 %90.9 %88.3 %89.4 %
ADR (4)
$548$5323.0 $538$563(4.4)
REVPAR (5)
$489$4841.0 $475$504(5.8)









12


WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR, and REVPAR)
(unaudited) (continued)

Three Months Ended
June 30,
Six Months Ended
June 30,
20252024Percent Change20252024Percent Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino$161,654$153,5915.2 $321,033$319,7600.4 
Rooms22,84924,701(7.5)41,59045,484(8.6)
Food and beverage18,73023,154(19.1)38,63743,393(11.0)
Entertainment, retail and other12,47711,16211.8 23,67321,7558.8 
Total$215,710$212,6081.5 $424,933$430,392(1.3)
Adjusted Property EBITDAR (6)
$63,859$62,1312.8 $121,313$125,266(3.2)
Casino statistics:
Average number of table games172185(7.0)172184(6.5)
Table drop (2)
$338,184$358,857(5.8)$678,246$725,668(6.5)
Table games win (1)
$72,016$70,4712.2 $141,898$153,449(7.5)
Table games win %21.3 %19.6 %20.9 %21.1 %
Table games win per unit per day$4,601$4,1869.9 $4,558$4,576(0.4)
Average number of slot machines2,7182,5904.9 2,7182,6134.0 
Slot machine handle$1,365,349$1,420,607(3.9)$2,722,548$2,823,454(3.6)
Slot machine win (3)
$109,472$105,5583.7 $216,954$210,2233.2 
Slot machine win per unit per day$443$448(1.1)$441$442(0.2)
Poker rake$5,430$5,3072.3 $11,072$11,088(0.1)
Room statistics:
Occupancy92.9 %96.5 %90.5 %93.1 %
ADR (4)
$405$422(4.0)$382$403(5.2)
REVPAR (5)
$376$407(7.6)$346$375(7.7)
(1)Table games win is shown before discounts, commissions and the allocation of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis.
(2)In Macau, table drop is the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage. In Las Vegas, table drop is the amount of cash and net markers issued that are deposited in a gaming table's drop box. At Encore Boston Harbor, table drop is the amount of cash and gross markers that are deposited in a gaming table's drop box.
(3)Slot machine win is calculated as gross slot machine win minus progressive accruals and free play.
(4)ADR is average daily rate and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms occupied.
(5)REVPAR is revenue per available room and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms available.
(6)Refer to accompanying reconciliations of Operating Income (Loss) to Adjusted Property EBITDAR and Net Income Attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.





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SOURCE:
Wynn Resorts, Limited
CONTACT:
Lauren Seiler
702-770-7555
investorrelations@wynnresorts.com
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