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 has secured a $2.4 billion construction facility for Wynn Al Marjan Island, the first integrated resort in the UAE. The seven-year loan, provided by a global syndicate of banks, represents the largest hospitality financing in UAE history. The facility is structured as a delayed draw facility in AED and USD currencies.
Construction progress is significant with 64% of structural concrete completed up to the 34th floor. The project will feature 1,542 rooms and suites, with 1,226 guest rooms (80%) already structurally complete. The exterior façade is 20% complete with 2,840 of 13,734 panels installed. The resort will include 22 restaurants and bars, a nightclub, beach club, luxury shopping, spa, 39,000 sq ft poolscape, and a 145,000 sq ft events center.
Located 50 minutes from Dubai International Airport in Ras Al Khaimah, the resort is being developed in partnership with Marjan and RAK Hospitality Holding, targeting a 2027 opening.
Wynn Resorts has maintained its position as the highest-ranked gaming resort company on FORTUNE Magazine's World's Most Admired Companies list for 2025. The company received top marks in the Hotel, Casinos, Resorts category and performed notably well in the Quality of Products/Services category.
This marks the seventeenth consecutive year of recognition for Wynn Resorts. CEO Craig S. Billings attributes this achievement to the dedicated team members who consistently deliver extraordinary guest experiences. The company's reputation is built on exceptional service, featuring personally curated experiences and signature events like Revelry and Concours.
The prestigious list is compiled through a partnership with Korn Ferry, involving surveys of industry executives, directors, and analysts. Companies are evaluated on nine criteria, including investment value, management quality, social responsibility, and talent attraction. Only top-performing companies within their respective industries are included in the final rankings.
Wynn Resorts (NASDAQ: WYNN) has scheduled its fourth quarter 2024 financial results announcement for Thursday, February 13, 2025, after market close. The company will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results.
Investors can access the live broadcast at wynnresorts.com under the 'Company Information' section. Alternatively, participants can dial (888) 455-5965 (US) or (773) 799-3869 (International) using access code 1056446. A replay will be available until March 13, 2025, accessible by calling (800) 839-1335 (US) or (203) 369-3357 (International) with replay code 3574189.
Wynn Resorts has announced plans to acquire Crown London (Aspinalls), an exclusive members-only casino located in London's Mayfair district. The transaction, pending regulatory approvals, is expected to close in the second half of 2025.
The historic property, situated at 27-28 Curzon Street, features 20 gaming tables across various sophisticated salons, along with a restaurant and lounge. The venue will continue operating under the Crown London name until the deal closes.
According to CEO Craig Billings, this strategic acquisition of an iconic asset will establish Wynn's presence in a global gateway city and create opportunities for guests to visit other Wynn properties, particularly the upcoming Wynn Al Marjan Island resort in UAE's Ras Al Khaimah, scheduled to open in Q1 2027.
Wynn Resorts (NASDAQ: WYNN) announced key additions to its investor relations team. Price Karr, currently Senior Vice President of Corporate Finance and Treasurer, will expand his role to lead the investor relations team as Senior Vice President of Investor Relations. Additionally, Lauren Seiler joins as Vice President of Investor Relations, reporting to Karr.
Both executives bring significant experience in the gaming and hospitality sectors. Karr, who started at Wynn in 2008, has extensive Wall Street experience advising on transactions in the U.S. and Asia. Seiler brings expertise in business development, strategic planning, and M&A, with a focus on gaming industry expansion. The enhanced team will oversee Wynn's investor relations strategy to support long-term shareholder value creation.
Wynn Resorts provided a construction update on Wynn Al Marjan Island, its first integrated resort in the UAE. Located 50 minutes from Dubai International Airport, the project is 55% complete in structural concrete, with the main tower reaching the 26th floor. The resort will feature 1,542 rooms, with 1,121 rooms already structurally complete. Current progress includes fit-out work in 820 rooms and the start of elevator installation. The property will house 22 dining venues, a nightclub, beach club, extensive poolscape, 15,000-square-meter shopping area, spa, and a 7,500-square-meter events center. With 9,100 workers onsite, the project remains on track for a Q1 2027 opening.
Wynn Resorts reported Q3 2024 operating revenues of $1.69 billion, up $21.4 million from Q3 2023. The company posted a net loss of $32.1 million ($0.29 per share), improved from a $116.7 million loss in Q3 2023. Adjusted Property EBITDAR was $527.7 million, slightly down from $530.4 million year-over-year. The Board declared a $0.25 cash dividend and increased share repurchase authorization to $1 billion. Wynn Macau and Encore Boston Harbor showed revenue growth, while Las Vegas Operations and Wynn Palace experienced slight declines. The company continues construction on Wynn Al Marjan Island in UAE, expected to open in 2027.
Wynn Resorts (NASDAQ: WYNN) has scheduled its third quarter 2024 financial results release for Monday, November 4, 2024, after market close. The company will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. Investors can access the call via the company's website or by dialing (888) 455-5965 (domestic) or (773) 799-3869 (international) using access code 1056446. A replay will be available through December 3, 2024, accessible by phone or through the company's website.
Wynn Las Vegas (Nasdaq: WYNN) announces the return of its 'Ultimate Race Week' from November 20-24, 2024, coinciding with the Las Vegas Grand Prix. The event features an array of exclusive experiences, including:
- amfAR gala honoring Sylvester and Jennifer Stallone, with a performance by Diana Ross
- Fan experience on Las Vegas Boulevard with team appearances and entertainment
- Invite-only golf tournament at Wynn Golf Club
- Pop-up events and takeovers, including LOUIS XIII Cognac and Lewis Hamilton's Almave
- Nightlife performances by Marshmello, The Chainsmokers, Swedish House Mafia, and more
- -time retail experiences and car enthusiast activations
The resort offers various room and ticket packages for the event. COO Brian Gullbrants expressed pride in the 2023 event's success and aims to raise the bar for 2024.
Wynn Resorts, (NASDAQ: WYNN) has announced an Analyst & Investor Update Meeting to discuss Wynn Al Marjan Island, their integrated resort under construction in the UAE. The event will take place on October 8, 2024, at Wynn Las Vegas from 11:30 a.m. to 2:30 p.m. Pacific Time.
CEO Craig Billings and other global leadership team members will deliver presentations, including details on the resort's expected financial performance. The meeting is by invitation only for institutional investors and analysts and will not be publicly webcast. However, the investor slide presentation will be available on Wynn Resorts' investor relations website under the 'Company Information' section at approximately 11:30 a.m. Pacific Time on October 8th.