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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, Limited (NASDAQ: WYNN) announced a follow-on offering of 6,500,000 shares of common stock at $115.00 per share, increasing the initial offering by 1,000,000 shares. The underwriters have a 30-day option to purchase an additional 975,000 shares. Proceeds will be used for general corporate purposes. The offering is expected to close on February 11, 2021, subject to customary conditions. Deutsche Bank, Goldman Sachs, and BofA Securities are the joint lead managers. An effective shelf registration statement was filed with the SEC on November 6, 2019.
Wynn Resorts (NASDAQ: WYNN) has initiated an underwritten public offering of 5,500,000 shares of common stock, with an option for underwriters to purchase an additional 825,000 shares within 30 days. The proceeds will be allocated for general corporate purposes. Deutsche Bank Securities, Goldman Sachs & Co. LLC, and BofA Securities, Inc. are the joint lead managers for this offering. An effective shelf registration statement was previously filed with the SEC on November 6, 2019. For detailed investment information, potential investors are encouraged to review the prospectus available on the SEC's website.
Wynn Resorts reported a 58.5% decline in Q4 2020 revenues to $686 million, with a net loss of $269.5 million or $2.53 per share, compared to a loss of $72.9 million in Q4 2019. Annual revenues fell 68.3% to $2.10 billion with a total net loss of $2.07 billion. Despite the challenges posed by COVID-19, operations showed signs of recovery, particularly in Macau and Las Vegas. WynnBet continues to expand its presence, operational in three states, with plans for more launches in 2021. The company's cash reserves stood at $3.48 billion.
Wynn Resorts, Limited (NASDAQ: WYNN) is set to announce its financial results for Q4 2020 on February 4, 2021, after market close. A conference call is scheduled for 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, which will be accessible via their website and phone. A replay will be available until March 4, 2021. The financial report will highlight key metrics that investors should monitor closely.
Wynn Las Vegas has achieved the Sharecare Health Security VERIFIED™ status, confirming its commitment to guest safety through rigorous health and safety protocols. This verification, endorsed by Forbes Travel Guide, ensures compliance with expert-validated practices designed to mitigate COVID-19 risks. The resort has also established an onsite COVID-19 vaccination center and plans to open a testing lab for PRC tests. With over $250 million invested to support employees during the pandemic, Wynn holds a reputation for accountability in health security.
WynnBET has announced it has secured market access in Ohio, becoming the eighth state for its casino and sports betting app. This expansion is subject to regulatory approvals and license eligibility. Currently operational in New Jersey, Colorado, and preparing to launch in Michigan, WynnBET also has access in Indiana, Iowa, Massachusetts, and Nevada. Additionally, the company is pursuing licenses in Tennessee and Virginia, with plans to explore more markets rapidly as the online betting landscape evolves.
WynnBET, a leading casino and sports betting app from Wynn Resorts, announces its launch in Michigan after receiving approval from the Michigan Gaming Control Board. This marks WynnBET's third market entry, following New Jersey and Colorado, with plans for further expansion in 2021, including secured access in Indiana, Iowa, Nevada, and Massachusetts. The app combines sports betting and casino games in a user-friendly platform, aiming to capture Michigan's engaged sports and casino fanbase. WynnBET's growth strategy is supported by a partnership with GAN and the Sault Ste. Marie Tribe of Chippewa Indians.
WynnBET, the sports betting app by Wynn Resorts, has expanded its market access to seven states including New Jersey, Colorado, and Iowa through a multi-year partnership with Elite Casino Resorts. The app is expected to enhance mobile sports betting for fans in Iowa, offering access to the Riverside Casino and Golf Resort. WynnBET has confirmed plans for rapid expansion, targeting approximately two-thirds of the U.S. online betting market. The platform delivers a user-friendly interface and integrates social betting experiences, aiming to attract both new and experienced bettors.
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