Welcome to our dedicated page for Wynn Resorts news (Ticker: WYNN), a resource for investors and traders seeking the latest updates and insights on Wynn Resorts stock.
Wynn Resorts reports news on luxury casino and resort operations in Las Vegas, Macau and Boston, along with development activity for Wynn Al Marjan Island in Ras Al Khaimah, United Arab Emirates. Company updates frequently cover quarterly revenue, net income, Adjusted Property EBITDAR, gaming volumes, hotel demand, dividends and share repurchases.
Other recurring announcements describe the hospitality features attached to Wynn properties, including Wynn Nightlife venues, culinary programming, art exhibitions, Forbes Travel Guide awards and guest-experience initiatives. News also includes subsidiary activity at Wynn Macau, Limited and design, construction and operational planning updates for the new integrated resort.
Wynn Resorts reported Q4 2022 operating revenues of $1.00 billion, a decrease of $48.2 million from Q4 2021. Net income was $32.4 million or $0.29 per diluted share, recovering from a net loss of $177.2 million in Q4 2021. Adjusted Property EBITDAR rose to $195.1 million, up from $149.1 million in the previous year. For the full year, operating revenues totaled $3.76 billion, unchanged from 2021. Notably, Wynn Macau faced revenue declines, while Las Vegas operations showed growth. The company repurchased 2.95 million shares for $171.3 million throughout 2022 and closed a significant sale-leaseback transaction for Encore Boston Harbor, generating $1.7 billion in cash.
Wynn Resorts (NASDAQ: WYNN) will release its fourth-quarter financial results for the period ending December 31, 2022 after market close on February 8, 2023. Following the release, a conference call is scheduled for 1:15 p.m. PT (4:15 p.m. ET), which will be broadcast live via www.wynnresorts.com. Interested parties can join by dialing (888) 455-5965 or (773) 799-3869 for international callers. A replay of the call will be accessible until March 8, 2023. For inquiries, contact Amir Markowitz, Vice President – Corporate Finance, at 702-770-7555.
Wynn Las Vegas (Nasdaq: WYNN) has launched the Wynn Living Well program, offering guests curated health and wellness experiences. This initiative includes Tom Brady and Alex Guerrero's TB12 method, custom IV therapies from NutriDrip, and bespoke workout videos by Amanda Kloots. The program focuses on three pillars: Renew (relaxation treatments), Replenish (nutritious culinary offerings and IV therapies), and Re-Energize (fitness classes and activities). With flexible booking options, guests can enhance their well-being during their stay at the luxurious resort.
GAN Limited (NASDAQ: GAN) has announced an exclusive national partnership with WynnBET to enhance its sports betting operations across the U.S. This partnership will utilize GAN Sports technology for online sportsbooks, starting with the WynnBET Sportsbook at Encore Boston Harbor in Massachusetts, set to launch in early 2023. GAN aims to expand its reach in iGaming states through the Super RGS content aggregation delivery system, reinforcing its position in the U.S. iGaming market and promising future growth opportunities.
Wynn Resorts has secured a 10-year gaming concession agreement with the Macau government for its properties, Wynn Macau and Wynn Palace Cotai. The agreement emphasizes the company's confidence in future market opportunities in Macau, showcasing its commitment to enhancing the region as a top-tier tourism and leisure destination. Wynn Resorts thanked the Macau government for their partnership, highlighting ongoing positive discussions that signal strong prospects for its operations in the area.
Wynn Resorts has finalized the sale of Encore Boston Harbor to Realty Income Corporation for $1.7 billion. The deal received all requisite regulatory approvals and resulted in a cash cap rate of 5.9%. Post-transaction, Wynn's global liquidity is bolstered to $4.4 billion. The company will maintain operations at Encore Boston Harbor under a triple net lease with Realty Income, securing an initial rent of $100 million annually, with escalations in future years.
Realty Income Corporation (NYSE: O) has successfully closed its acquisition of Encore Boston Harbor's land and real estate assets from Wynn Resorts (NASDAQ: WYNN) for $1.7 billion. With all regulatory approvals secured, the transaction marks Realty Income's first venture into the gaming industry. Following the acquisition, Wynn Resorts will operate the resort under a triple net lease. Realty Income is renowned for its reliable monthly dividends, boasting a 53-year history of consistent payouts and 629 consecutive monthly dividends declared.
Wynn Resorts (Nasdaq: WYNN) announced on November 25, 2022 that its Macau subsidiary received a provisional award of a gaming concession from the Macau government. This award is not final and is contingent upon the completion of the formal documentation detailing the terms and conditions. This development is significant as it allows Wynn Resorts to continue its operations in Macau, a vital market for the company. The finalization of this gaming concession will further solidify Wynn's position in the competitive gaming industry in the region.
Wynn Las Vegas (Nasdaq: WYNN) will host an exclusive screening of the Paramount+ series "1923" on December 3, 2022, featuring a star-studded cast including Harrison Ford and Helen Mirren. To celebrate, the resort offers luxury packages that include a two-night stay in a Wynn Salon Suite, priority access to the screening and after-party, dinner at SW, and Gold Buckle tickets to the Wrangler National Finals Rodeo. The series is set to debut on Paramount+ on December 18, 2022.
Wynn Las Vegas has introduced its new show, Awakening, featuring collaborations with renowned artists. The show includes large-format murals, an animated short film, and unique playing cards designed by notable illustrators. CEO Craig Billings emphasized the commitment to artistic expression, showcasing works by Allison Hueman, Kentaro Yoshimura, and Clyde Thompson, which are displayed across different cities through January 2023. Awakening premiered on Nov. 7, with performances scheduled from Tuesday to Saturday.