Wynn Resorts, Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 07, 2024 at 04:02 pm EST
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Wynn Resorts, Limited reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,413.26 million compared to USD 656.47 million a year ago. Revenue was USD 1,840.46 million compared to USD 1,004.94 million a year ago. Net income was USD 729.16 million compared to USD 32.41 million a year ago. Basic earnings per share from continuing operations was USD 6.53 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 6.19 compared to USD 0.29 a year ago.
For the full year, sales was USD 4,904.07 million compared to USD 2,434.68 million a year ago. Revenue was USD 6,531.9 million compared to USD 3,756.83 million a year ago. Net income was USD 729.99 million compared to net loss of USD 423.86 million a year ago. Basic earnings per share from continuing operations was USD 6.49 compared to basic loss per share from continuing operations of USD 3.73 a year ago. Diluted earnings per share from continuing operations was USD 6.32 compared to diluted loss per share from continuing operations of USD 3.73 a year ago.
Wynn Resorts, Limited is one of the leading American promoters and operators of hotel-casinos. At the end of 2020, the group owned 4 hotel-casinos under the Wynn Las Vegas, Wynn Macau, Wynn Palace and Encore Boston Harbor names. Net sales break down by activity as follows:
- casinos operation (59%): 1,061 gaming tables and 5,589 slot machines at the end of 2020;
- restaurants and bars operation (15.7%): 73 restaurants;
- hotel business (14.7%): 7,124 rooms;
- other (10.6%): primarily leisure sites operation (nightclubs, wedding chapels, spas, etc.) and in-store sales (sale of cars under the names Ferrari and Mestari, and of Chanel, Graff, Manolo Blahnik, Louis Vuitton clothing, etc.).
Net sales are distributed geographically as follows: the United States (53.2%) and Macau (46.8%).