Wynn Resorts reported a strong year with record-breaking EBITDA and growth across various segments. The expansion in Las Vegas, Boston, and the UAE are promising, but there are some challenges in Macau and non-gaming revenue segments. Overall, the company's performance and future prospects are positive, though not without certain headwinds.

Company Guidance

During the fourth quarter of 2024 earnings call, Wynn Resorts announced several key financial metrics and strategic initiatives. The company reported a record year for adjusted property EBITDA, with a notable annual record in Las Vegas. They highlighted a $200 million stock repurchase in Q4, followed by an additional $150 million in Q1, citing the undervaluation of their assets as a driving factor. In Las Vegas, table games drop was flat, but slot handle increased by 13%, and non-gaming revenue remained strong despite tough year-over-year comparisons. The Encore Tower in Las Vegas is set for renovation, and new food and beverage offerings are planned. In Boston, slot handle grew by 6%, setting a new property record, while Macau generated $293 million in EBITDA for Q4, down 1% year-over-year but up 11% sequentially. The company's ambitious project in the UAE, Wynn Al Marjan, is progressing, with construction reaching the 35th floor, and is expected to significantly contribute to EBITDA upon its 2027 opening. Liquidity remains robust, with $3.5 billion in global cash and revolver availability.

Record Year of Adjusted Property EBITDA

Wynn Resorts reported yet another record year of adjusted property EBITDA, including an annual record in Las Vegas.

Strong Performance in Las Vegas

Las Vegas saw a 13% increase in slot handle and meaningful growth in gaming market share. Non-gaming business was also strong despite tough year-over-year comparisons.

Encouraging Performance in Boston

Encore Boston reported a 6% increase in slot handle, setting a new all-time property record for slot revenue.

UAE Development Progress

Construction on Wynn Almarjan Island in the UAE is progressing rapidly, with a $2.4 billion financing package secured.

Healthy Liquidity and Share Repurchases

Wynn Resorts has strong liquidity with $3.5 billion in cash and revolver availability and repurchased $386 million worth of shares in 2024.

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Wynn Resorts (DE:WYR) Earnings, Revenues Date & History

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DE:WYR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2025	2025 (Q1)	1.24 / -	1.522	―	―	―
Feb 13, 2025	2024 (Q4)	1.28 / 2.32	1.828	26.70% (+0.49)
Nov 04, 2024	2024 (Q3)	0.99 / 0.86	0.948	-9.09% (-0.09)	―
Aug 06, 2024	2024 (Q2)	1.09 / 1.07	0.871	23.08% (+0.20)	―
May 07, 2024	2024 (Q1)	1.24 / 1.52	0.278	448.28% (+1.24)	―
Feb 07, 2024	2023 (Q4)	1.10 / 1.83	-1.177	255.28% (+3.01)	―
Nov 09, 2023	2023 (Q3)	0.71 / 0.95	-1.149	182.50% (+2.10)	―
Aug 09, 2023	2023 (Q2)	0.61 / 0.87	-0.785	210.98% (+1.66)	―
May 09, 2023	2023 (Q1)	0.04 / 0.28	-1.158	123.97% (+1.44)	―
Feb 08, 2023	2022 (Q4)	-1.12 / -1.18	-1.312	10.22% (+0.13)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:WYR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 13, 2025	€76.16	€84.17	+10.52%
Nov 04, 2024	€87.36	€78.78	-9.83%
Aug 06, 2024	€69.22	€68.11	-1.59%
May 07, 2024	€89.31	€87.70	-1.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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