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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.
Wynn Resorts reported a decrease in Q1 2021 revenues of 23.9% to $725.8 million compared to Q1 2020. The net loss was $281 million or $2.53 per share, improving from a $402 million loss in the previous year. Adjusted Property EBITDA increased at various properties, particularly Encore Boston Harbor, but fell slightly at Wynn Macau. The company aims to grow WynnBET through a merger with Austerlitz Acquisition Corp I. Despite ongoing COVID-19 challenges, gaming revenues showed signs of recovery, particularly in Las Vegas.
Wynn Resorts (Nasdaq: WYNN) is set to launch Wynn Field Club at Allegiant Stadium later this year, marking its role as the Official Nightlife Partner of the Las Vegas Raiders. This exclusive venue will span 11,000 square feet at field level, offering premium nightlife experiences with renowned DJs, bottle service, and advanced audiovisual technology. As a Founding Partner of Allegiant Stadium, Wynn will also gain special event access and branding opportunities. The club is designed to enhance the overall gameday experience, establishing a unique entertainment venue in Las Vegas.
The Memphis Grizzlies have partnered with WynnBET in a multi-year marketing agreement aimed at enhancing the sports betting experience in Tennessee. This partnership will utilize the Grizzlies' digital platforms, including social media and mobile apps, as well as create a dedicated physical space at FedExForum. WynnBET becomes the presenting partner of several Grizzlies shows and introduces a new in-app game, Buzzer Beater Picks, offering fans chances to win prizes. The official launch of the WynnBET mobile experience will coincide with the Grizzlies' final home games.
Wynn Resorts will announce its financial results for Q1 2021 on May 10, 2021, post-market close.
The accompanying conference call is scheduled for 1:30 p.m. PT (4:30 p.m. ET), accessible via www.wynnresorts.com or by dialing (888) 455-5965 (international: (773) 799-3869), access code 3983556.
A replay of the call will be available until June 10, 2021, through the same numbers. The call will also be archived on their website.
WynnBET, a leading sports betting app from Wynn Resorts, launched its mobile sportsbook in Tennessee on April 30, 2021. This marks the sixth state where WynnBET is now operational within nine months. Users can download the app on Apple and Android devices. A marketing collaboration with the Memphis Grizzlies will kick off with events from May 10-14, featuring fan activations and digital campaigns. WynnBET also has market access opportunities in additional states, subject to regulatory approvals.
WynnBET, the online gaming division of Wynn Resorts, has announced a multi-year partnership with Minute Media, enhancing its content marketing and affiliate strategies. This collaboration aims to leverage Minute Media's platform to reach an audience of approximately 60 million monthly users in the U.S. The partnership will produce targeted sports and lifestyle content, alongside advertising initiatives. WynnBET's recent collaboration with Blue Wire Podcasts further emphasizes its efforts in expanding brand awareness and engagement in the sports betting sector.
The Wynn Golf Club introduces an exclusive golf getaway package for guests on the Las Vegas Strip, available until June 30, 2021. Starting at $595 for weekdays and $675 for weekends, the package includes deluxe accommodations, one round of golf, complimentary room upgrades, and a $100 credit for dining or spa services. Additionally, guests can benefit from a 20% discount on door-to-door shipping of golf clubs through Ship Sticks. The golf course, redesigned by Tom Fazio, features lush landscapes, water features, and a new putting green.
WynnBET, a mobile sports betting app from Wynn Resorts, launched in Indiana on April 1, 2021, marking its entry into the fifth state since its New Jersey debut in July 2020. The app expanded rapidly, with launches in Colorado, Michigan, and Virginia in recent months. WynnBET secured market access in Indiana through a multi-year partnership with Full House Resorts. The app is set for further expansion, with potential access in Iowa, Massachusetts, and other states, pending regulatory approvals.
NASCAR partner WynnBET, the digital gaming division of Wynn Resorts, has launched its mobile app in Virginia following the award of an online sports betting permit. This launch is part of a multi-year partnership with NASCAR to enhance sports betting experiences for fans. Players 21 and older can now access the app, offering a $500 risk-free bet. WynnBET is now one of six licensed operators in Virginia and plans to expand its betting options, including live, in-play betting. This move aims to strengthen engagement among NASCAR fans, especially at iconic venues like Richmond Raceway and Martinsville Speedway.
On March 5, 2021, WynnBET announced that it has received a permit to operate online sports betting in Virginia, marking it the tenth state to launch its mobile app. The WynnBET app will soon be available for registration, enhancing its market access opportunities alongside existing states like New Jersey, Colorado, and Michigan. WynnBET is an Authorized Gaming Operator of NASCAR and aims to provide a world-class betting experience. This expansion in Virginia aligns with Wynn's rapid growth strategy in the online gaming sector.
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