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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 has announced a pre-recorded audio presentation and slide deck for the investment community regarding its new project, Wynn Al Marjan Island, an integrated resort development in Ras Al Khaimah, UAE. The presentation can be found on the Wynn Resorts Investor Relations website and will include details on this significant project, aimed at enhancing the company's portfolio in the region. The audio and slides are archived for easy access by investors. This initiative reflects Wynn's strategic growth plans in key markets, catering to both leisure and business travelers. For more information, stakeholders are encouraged to visit the official website where the resources are available.
Wynn Resorts has announced plans for its new luxury resort, Wynn Al Marjan Island, situated on Al Marjan Island in Ras Al Khaimah, UAE. The resort, projected to cost approximately USD 3.9 billion, will feature 1,500 rooms, extensive entertainment options, and world-class amenities, aiming to enhance the region's tourism appeal.
The construction is underway, with completion expected in early 2027. This flagship project, developed in partnership with local companies, is anticipated to create significant economic value through tourism and job creation, further establishing Ras Al Khaimah as a premier investment destination.
WynnBET, the online sports betting app from Wynn Resorts, launched its services in Massachusetts, becoming the 10th operational online state. Players can download the app from the Apple and Google Play Stores and register at www.wynnbet.com/ma. The launch follows a successful retail sports betting opening at Encore Boston Harbor. New users in Massachusetts can benefit from a promotional offer of $100 in betting credits. The Wynn Rewards program allows users to gain access to a variety of experiences at Encore Boston Harbor and Wynn Las Vegas. WynnBET is currently available in multiple states and is expanding rapidly.
Wynn Resorts, Limited (NASDAQ:WYNN) announced the successful initial settlement of its cash tender offer for all outstanding 7.750% Senior Notes due 2025, amounting to $600 million. The tender offer, which expired on February 15, 2023, saw valid tenders totaling approximately $506.4 million. Holders of the validly tendered Notes received $1,024.50 for each $1,000 principal, plus accrued interest. Payments for Notes delivered later, under guaranteed delivery procedures, will occur by February 21, 2023. The offering is governed by terms in the Offer to Purchase dated February 9, 2023, and the company cautions that future statements are subject to various risks and uncertainties.
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