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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 Las Vegas has partnered with TB12, co-founded by Tom Brady and Alex Guerrero, to provide holistic health and wellness services focused on performance and recovery. Starting September 22, 2022, guests can book personalized sessions with TB12 Body Coaches at the Encore Fitness Center. These sessions incorporate the TB12 Method, which emphasizes nutrition, hydration, movement, and mental fitness. This collaboration enhances Wynn's wellness offerings, promoting recovery and injury prevention.
Wynn Resorts reported Q2 2022 revenues of $908.8 million, down $81.3 million year-over-year. The net loss was $130.1 million, or $1.14 per diluted share, slightly improving from the $131.4 million loss in Q2 2021. Adjusted Property EBITDA fell to $179.2 million from $206.9 million. Las Vegas operations saw revenue increase by $206 million, while Macau operations continued to struggle due to COVID restrictions, resulting in losses in both Wynn Palace and Wynn Macau. The company holds $2.01 billion in cash and debt of $11.91 billion.
The Las Vegas Concours d'Elegance, a prestigious automotive event, will take place from October 28 to October 30, 2022, at Wynn Las Vegas. The event features a display of rare automobiles, including a special focus on the Ferrari F40. Highlights include a Gala Dinner, the Concours exhibition on Saturday showcasing over 100 collector cars, a VIP tasting experience, and a motorcade featuring Jay Leno as Grand Marshal. Wynn Las Vegas offers exclusive room packages for attendees, enhancing the luxury experience at the event.
Wynn Las Vegas is launching an exclusive wine dinner series in collaboration with Domain H. William Harlan, featuring three intimate dining experiences. Each event is limited to 20 guests at a price of $10,000 per guest. Guests will enjoy a curated menu paired with iconic wines from Harlan's vineyards, including Harlan Estate, BOND, and Promontory. Each dinner includes a one-night stay in a Wynn Tower Suite. The series starts September 10, 2022, and showcases the culinary talents of Wynn's chefs alongside Harlan's wines.
Wynn Resorts (NASDAQ: WYNN) will announce its financial results for Q2 2022, ending June 30, 2022, after market close on August 9, 2022. A conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Interested parties can access the call via www.wynnresorts.com or by phone at (888) 455-5965 for domestic calls and (773) 799-3869 for international callers, using access code 3983556. A replay will be available until September 9, 2022.
Wynn Resorts reported Q1 2022 financial results, showing operating revenues of $953.3 million, a $216.7 million increase from Q1 2021. The net loss was $183.3 million or $1.59 per diluted share, an improvement from the $281.0 million loss in the previous year. Adjusted Property EBITDA rose significantly to $177.6 million from $58.9 million. Las Vegas and Encore Boston Harbor operations thrived, but Macau's performance was hindered by travel restrictions, resulting in decreased revenues in both Wynn Palace and Wynn Macau.
Wynn Resorts (NASDAQ: WYNN) will release its financial results for Q1 2022 after market close on May 10, 2022. A conference call to discuss these results is scheduled for 1:30 p.m. PT (4:30 p.m. ET). The call will be available for live listening on the company's website and will also provide an option for replays until June 10, 2022. Interested parties can dial in to join the call using the provided access code.
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