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Wynn Resorts, Limited (Nasdaq: WYNN), a prestigious member of the S&P 500 Index, is a global leader in the luxury hospitality and gaming industry. Founded in 2002 by Steve Wynn, the company is renowned for operating some of the world's most luxurious casinos and resorts. Wynn Resorts owns and operates four megaresorts: Wynn Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace, Cotai. Each property is a testament to the company's commitment to excellence, offering unparalleled experiences in gaming, dining, shopping, and entertainment.
Wynn Las Vegas and Encore in Las Vegas feature two luxurious hotel towers with a combined total of 4,748 rooms, suites, and villas. The resort boasts approximately 194,000 square feet of casino space, 20 signature dining experiences, 14 bars, two award-winning spas, extensive retail space, and state-of-the-art meeting and convention facilities. Additional amenities include showrooms, nightclubs, a beach club, and the Wynn Golf Club with an 18-hole championship course.
Encore Boston Harbor, situated along the Mystic River in Everett, Massachusetts, is a premier resort destination that includes a 210,000 square foot casino, 671 hotel rooms, specialty retail, a luxury spa, and numerous dining and lounge venues. The resort also features a six-acre public park and Harborwalk, making it a unique addition to the region's landscape.
In Macau, Wynn Resorts operates Wynn Macau and Wynn Palace. Wynn Macau comprises two luxury hotel towers with 1,010 rooms and suites, a casino, multiple dining options, meeting spaces, retail outlets, and recreational facilities. Wynn Palace, known for its floral theme, offers 1,706 rooms, suites, and villas, along with extensive gaming space, dining outlets, designer retail, and unique attractions such as the SkyCabs and Performance Lake.
Wynn Resorts is not only a leader in luxury hospitality but also a pioneer in integrated resort development. The company is currently constructing Wynn Al Marjan Island in Ras Al Khaimah, UAE, its first beachfront resort and the first integrated gaming resort in the MENA region. This ambitious project, anticipated to open in early 2027, is being developed in partnership with Marjan and RAK Hospitality Holding. The resort will feature 1,542 rooms and suites, extensive recreational facilities, world-class dining and entertainment options, and a luxurious design that blends the natural beauty of the region with Wynn's signature elegance.
Wynn Resorts also offers a digital sports betting and iGaming platform through Wynn Interactive, expanding its footprint in the growing online gaming market. The company's diversified portfolio and strategic investments highlight its commitment to innovation and growth.
With a strong financial performance, robust development pipeline, and a reputation for excellence, Wynn Resorts continues to set the standard in luxury hospitality and gaming worldwide. The company received significant EBITDA contributions from its operations in Macau and the US, exemplifying its global reach and influence in the industry.
WynnBET, the online sports betting platform of Wynn Resorts, has launched its services in New York, marking a significant expansion. Players can download the app and benefit from a promotional offer of Bet $10, Win $200. This launch aligns with Wynn's growth strategy, tapping into the large Wynn Rewards membership in New York. WynnBET is now operational in eight states, with plans for further expansion into Iowa and Louisiana. The entry into New York is a strategic move supported by partnerships with local tribes, enhancing the brand's presence in the competitive online gaming market.
WynnBET, from Wynn Resorts (Nasdaq: WYNN), has announced the launch of pre-registration and deposit options available in Louisiana as of January 25, 2022. This initiative is part of a broader expansion, with plans to also launch online sports betting in New York and Iowa, increasing the total states served from seven to ten. Customers in Louisiana can take advantage of a promotional offer: a $250 bonus in free bets for completing pre-registration. WynnBET is already operational in several states and aims for rapid further expansion.
Wynn Resorts, in partnership with Marjan and RAK Hospitality Holding, is set to develop a multibillion-dollar integrated resort on Al Marjan Island, Ras Al Khaimah. This project will include a 1,000+ room hotel, high-end shopping, convention facilities, and entertainment options, marking Wynn's first beach resort globally. Expected to be completed by 2026, the resort aims to boost local tourism and job creation while adhering to sustainability standards. This development underscores Ras Al Khaimah's growing appeal as a high-quality investment destination.
Wynn Las Vegas is set to host the world premiere of the highly anticipated Yellowstone prequel, 1883, this weekend. Created by Taylor Sheridan, the series features stars like Tim McGraw and Faith Hill and will stream on Paramount+ starting December 19. This collaboration with 101 Studios aims to revive Hollywood's historic connection with Las Vegas, enhancing Wynn's reputation for luxury entertainment. The event includes a custom red carpet experience and an elevated after-party, showcasing Wynn's commitment to world-class guest experiences.
Wynn Las Vegas has partnered with 101 Studios and MTV Entertainment Studios to launch the Official Yellowstone Podcast, hosted by Jefferson White. The first episode features an exclusive discussion with stars Wes Bentley and Luke Grimes. The podcast promises behind-the-scenes insights and will include notable guests throughout its first season. Listeners can access the podcast on major platforms such as Apple Podcasts and Spotify. This initiative highlights Wynn Las Vegas as a significant part of the entertainment landscape, especially as Yellowstone continues to gain popularity.
Wynn Resorts (NASDAQ: WYNN) announced the appointment of Julie Cameron-Doe as Chief Financial Officer, effective in Q2 2022. She will succeed Craig Billings, who will transition to CEO early next year. Cameron-Doe, with extensive experience in the gaming industry and previous CFO roles at Aristocrat Leisure, brings valuable expertise. Billings emphasized her leadership as a critical addition to their executive team, enhancing Wynn's growth potential.
WynnBET has appointed Ian Williams as the new President of Wynn Interactive, effective immediately. Williams, a 20-year gaming industry veteran, joined WynnBET as Chief Operating Officer in October. Previously, he served as President of Online Gaming for Churchill Downs Inc., where he significantly grew its online wagering business. With extensive experience in the U.S., Canada, and the U.K., Williams also founded Thistle Gaming, specializing in real-time sports data. WynnBET aims to enhance its mobile casino and sports betting offerings while expanding its operations across various states.
Wynn Resorts and Austerlitz Acquisition Corporation I have announced the immediate termination of their merger agreement which aimed to combine Austerlitz I with Wynn Interactive, a subsidiary of Wynn Resorts. This decision came as both companies agreed to halt the merger process, impacting strategic growth plans for Wynn Interactive. CEO Craig Billings expressed confidence in the future of WynnBET, stating the company will focus on a more targeted user acquisition strategy while planning expansions into new states like New York.
Wynn Resorts, Limited (NASDAQ: WYNN) reported operating revenues of $994.6 million for Q3 2021, up from $370.5 million in Q3 2020. Net loss was $166.2 million, or $1.45 per diluted share, a significant improvement from the $758.1 million loss, or $7.10 per diluted share, a year prior. Adjusted Property EBITDA rose to $154.6 million compared to a loss of $(65.9) million in Q3 2020. The company highlighted recovery in Las Vegas and confidence in Macau's consumer demand as key points for future growth.
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