Wynn shares fall following third-quarter revenue slump
Wynn’s operating revenues were $889.7 million for the third quarter of 2022, a decrease of $104.9 million, from $994.6 million for the third quarter of 2021.
Net loss attributable to Wynn Resorts, Limited was $142.9 million, or $1.27 per diluted share, for the third quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $166.2 million, or $1.45 per diluted share, for the third quarter of 2021.
Adjusted Property EBITDA was $173.5 million for the third quarter of 2022, compared to Adjusted Property EBITDA of $154.6 million for the third quarter of 2021.
“Our teams at Wynn Las Vegas and Encore Boston Harbor delivered a new third-quarter record for Adjusted Property EBITDA at our combined North American properties. Their relentless focus on five-star hospitality, combined with our market-leading facilities, continue to elevate our properties above our peers as the destinations of choice for luxury guests in both Las Vegas and Massachusetts,” said Craig Billings, CEO of Wynn Resorts, Limited. “In Macau, while COVID-related travel restrictions continued to negatively impact our results, we were pleased to experience encouraging pockets of demand during the recent October holiday period. We remain confident that the market will benefit from the return of visitation over time.”