Wynn Resorts yesterday reported its full-year and fourth-quarter financial results for 2024.
Operating revenues were US$7.13 billion last year, an increase of US$596.1 million compared to the US$6.53 billion in revenues for 2023. They respectively increased by US$330.8 million, US$251.1 million, and US$91.3 million at Wynn Palace, Wynn Macau, and the company’s Las Vegas operations.
The net income attributable to Wynn Resorts in 2024 was US$501.1 million, compared to US$730 million earned a year earlier.
Adjusted property earnings before interest, taxes, depreciation, amortisation and restructuring or rent costs (EBITDAR) were US$2.36 billion in 2024, an increase of US$250 million compared to 2023. By location, adjusted property EBITDAR increased by US$117.9 million, US$103.8 million, and US$0.5 million at Wynn Palace, Wynn Macau, and Wynn’s Las Vegas operations respectively.
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Meanwhile, operating revenues were US$1.84 billion for the fourth quarter of 2024, flat compared to operating revenues of US$1.84 billion for the comparable period in 2023. Net income attributable to Wynn Resorts was US$277 million in the last three months of 2024, compared to US$729.2 million for the fourth quarter of 2023.
Adjusted property EBITDAR was US$619.1 million, up from US$630.4 million for the fourth quarter of 2023.
“Our fourth quarter and full-year results reflect continued strength throughout our business, setting another full-year record for adjusted property EBITDAR for the company in 2024, with another annual record in Las Vegas,” said Craig Billings, CEO of Wynn Resorts.
“We delivered strong quarterly performance in Las Vegas on very tough comparables and drove healthy market share in Macao led by strength in both premium mass and VIP.”
