Wynn Resorts Stock Price, News & Analysis

Wynn Resorts, Limited (NASDAQ: WYNN) reported significant financial results for Q4 2021, with operating revenues of $1.05 billion, a 53.5% increase from Q4 2020. The net loss narrowed to $177.2 million, or $1.54 per diluted share, compared to a larger loss of $269.5 million in Q4 2020. Adjusted Property EBITDA reached $149.1 million, up from $69.8 million a year earlier. For the full year, revenues rose 79.6% to $3.76 billion, while the net loss decreased to $755.8 million. The company announced plans for a luxury resort in the UAE, aiming to diversify its operations further.

Wynn Resorts (NASDAQ: WYNN) has entered a $1.70 billion agreement to sell Encore Boston Harbor's real estate to Realty Income (NYSE: O), achieving a 5.9% cap rate. The company will lease the property back at $100 million annually for 30 years, with a 1.75% rent escalation for the first decade. Wynn retains a 13-acre land parcel for future expansion in Everett, MA, with an option to sell additional assets to Realty Income for $20 million in rent. This transaction is expected to close in Q4 2022, pending regulatory approvals.

Jackpocket, a leading app for ordering official state lottery tickets, has partnered with WynnBET to offer exclusive promotions to New York State players. Starting with the "Big Game Big Deal" promotion, new WynnBET customers using the Jackpocket app can earn $200 in free bets after placing their first $10 bet. Jackpocket aims to enhance player engagement and awareness of WynnBET's services as it expands into sports betting. The app has facilitated over $100 million in lottery winnings since its launch in New York in January 2020.

WynnBET has launched its online sports betting platform in Louisiana, marking the ninth state where it is operational. Players can download the app and take advantage of offers like Bet $10, Win $200 after making a deposit. Existing Wynn Rewards members can also link their accounts for additional benefits. The platform is now available in several states, including New York, where it launched recently on February 4, 2022. WynnBET aims for further expansion with pending license applications.

Wynn Resorts (NASDAQ: WYNN) will release its fourth quarter financial results for the period ending December 31, 2021, on February 15, 2022, after market close. A conference call to discuss the results will take place at 1:30 p.m. PT (4:30 p.m. ET), accessible via wynnresorts.com. A replay of the call will be available until March 14, 2022. Investors can dial in using the provided access codes.

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.