LAS VEGAS–(BUSINESS WIRE)–Wynn Resorts, Limited (NASDAQ: WYNN) (“the Company”) today reported
financial results for the quarter ended March 31, 2019.
Operating revenues were $1.65 billion for the first quarter of 2019, a
decrease of 3.7%, or $64.0 million, from $1.72 billion for the first
quarter of 2018. Operating revenues increased $60.8 million at Wynn
Palace and decreased $94.4 million and $30.5 million at Wynn Macau and
our Las Vegas Operations, respectively.
On a U.S. generally accepted accounting principles (“GAAP”) basis, net
income attributable to Wynn Resorts, Limited was $104.9 million, or
$0.98 per diluted share, for the first quarter of 2019, compared to a
net loss attributable to Wynn Resorts, Limited of $204.3 million, or
$1.99 per diluted share, in the first quarter of 2018. The change was
primarily due to a litigation settlement of $463.6 million, partially
offset by an income tax benefit of $111.0 million, recorded in the first
quarter of 2018. Adjusted net income attributable to Wynn Resorts,
Limited (1) was $172.6 million, or $1.61 per diluted share, for the
first quarter of 2019, compared to $237.0 million, or $2.30 per diluted
share, for the first quarter of 2018.
Adjusted Property EBITDA (2) was $494.8 million for the first quarter of
2019, a decrease of 12.3%, or $69.6 million, from $564.3 million for the
first quarter of 2018. Adjusted Property EBITDA increased $10.7 million
at Wynn Palace and decreased $45.9 million and $34.3 million at Wynn
Macau and our Las Vegas Operations, respectively.
Wynn Resorts, Limited also announced today that the Company has approved
a cash dividend of $1.00 per share, payable on May 30, 2019 to
stockholders of record as of May 22, 2019.
Macau Operations
Wynn Palace
Operating revenues from Wynn Palace were $726.6 million for the first
quarter of 2019, a 9.1% increase from $665.8 million for the first
quarter of 2018. Adjusted Property EBITDA from Wynn Palace was $222.6
million for the first quarter of 2019, a 5.0% increase from $211.9
million for the first quarter of 2018.
Casino revenues from Wynn Palace were $623.2 million for the first
quarter of 2019, a 9.6% increase from $568.5 million for the first
quarter of 2018. Table games turnover in VIP operations was $12.63
billion, a 17.9% decrease from $15.39 billion for the first quarter of
2018. VIP table games win as a percentage of turnover was 3.91%, above
the expected range of 2.7% to 3.0% and above the 2.60% experienced in
the first quarter of 2018. Table drop in mass market operations was
$1.30 billion, a 7.1% increase from $1.22 billion in the first quarter
of 2018. Table games win in mass market operations was $315.5 million, a
1.7% increase from $310.2 million for the first quarter of 2018. Table
games win percentage in mass market operations was 24.2%, below the
25.5% experienced in the first quarter of 2018. Slot machine handle was
$975.0 million, a 7.8% decrease from $1.06 billion for the first quarter
of 2018. Slot machine win decreased 7.9% to $51.4 million for the first
quarter of 2019, compared to $55.8 million for the first quarter of 2018.
Non-casino revenues from Wynn Palace were $103.4 million for the first
quarter of 2019, a 6.2% increase from $97.4 million for the first
quarter of 2018. Room revenues were $43.3 million for the first quarter
of 2019, a 7.1% increase from $40.4 million for the first quarter of
2018. Average daily rate (“ADR”) was $271, a 7.7% increase from $252 for
the first quarter of 2018. Occupancy increased to 97.2% for the first
quarter of 2019, from 96.8% for the first quarter of 2018. Revenue per
available room (“REVPAR”) was $264, an 8.2% increase from $244 for the
first quarter of 2018.
Wynn Macau
Operating revenues from Wynn Macau were $523.9 million for the first
quarter of 2019, a 15.3% decrease from $618.2 million for the first
quarter of 2018. Adjusted Property EBITDA was $163.9 million for the
first quarter of 2019, a 21.9% decrease from $209.8 million for the
first quarter of 2018.
Casino revenues from Wynn Macau were $450.2 million for the first
quarter of 2019, a 16.5% decrease from $539.0 million for the first
quarter of 2018. Table games turnover in VIP operations was $10.19
billion, a 40.3% decrease from $17.09 billion for the first quarter of
2018. VIP table games win as a percentage of turnover was 2.90%, within
the expected range of 2.7% to 3.0% and above the 2.61% experienced in
the first quarter of 2018. Table drop in mass market operations was
$1.35 billion, a 2.2% increase from $1.32 billion for the first quarter
of 2018. Table games win in mass market operations was $264.5 million, a
3.1% increase from $256.5 million for the first quarter of 2018. Table
games win percentage in mass market operations was 19.6%, above the
19.4% experienced in the first quarter of 2018. Slot machine handle was
$794.4 million, a 20.8% decrease from $1.00 billion for the first
quarter of 2018. Slot machine win decreased 9.3% to $37.9 million for
the first quarter of 2019, compared to $41.8 million for the first
quarter of 2018.
Non-casino revenues from Wynn Macau were $73.6 million for the first
quarter of 2019, a 7.0% decrease from $79.2 million for the first
quarter of 2018. Room revenues were $28.9 million for the first quarter
of 2019, a 1.6% increase from $28.4 million for the first quarter of
2018. ADR was relatively flat at $290 when compared to the same period
of 2018. Occupancy increased to 99.3% for the first quarter of 2019,
from 99.0% for the same period of 2018. REVPAR was flat at $288 when
compared to the same period of 2018.
Las Vegas Operations
Operating revenues from our Las Vegas Operations were $401.0 million for
the first quarter of 2019, a 7.1% decrease from $431.5 million for the
first quarter of 2018. Adjusted Property EBITDA from our Las Vegas
Operations was $108.3 million, a 24.0% decrease from $142.6 million for
the first quarter of 2018.
Casino revenues from our Las Vegas Operations were $111.7 million for
the first quarter of 2019, a 17.1% decrease from $134.6 million for the
first quarter of 2018. Table games drop was $404.1 million, a 24.7%
decrease from $536.6 million for the first quarter of 2018. Table games
win was $111.4 million, a 27.9% decrease from $154.4 million for the
first quarter of 2018. Table games win percentage was 27.6%, above the
property’s expected range of 22% to 26%, but below the 28.8% experienced
in the first quarter of 2018. Slot machine handle was $789.3 million, a
6.1% increase from $744.1 million for the first quarter of 2018. Slot
machine win increased 10.7% to $54.5 million, compared to $49.3 million
for the first quarter of 2018.
Non-casino revenues from our Las Vegas Operations were $289.3 million
for the first quarter of 2019, a 2.5% decrease from $296.8 million for
the first quarter of 2018. Room revenues were $119.1 million for the
first quarter of 2019, a 1.9% decrease from $121.5 million for the first
quarter of 2018. ADR was $338, a 0.6% decrease from $340 in the first
quarter of 2018. Occupancy decreased to 82.6% for the first quarter of
2019, from 83.9% for the first quarter of 2018. REVPAR was $279, a 2.1%
decrease from $285 for the first quarter of 2018. Food and beverage
revenues decreased 1.8%, to $123.6 million for the first quarter of
2019, compared to $125.8 million for the first quarter of 2018.
Entertainment, retail and other revenues decreased 5.9%, to $46.6
million for the first quarter of 2019, compared to $49.6 million in the
first quarter of 2018.
Development Projects
We are currently constructing Encore Boston Harbor, an integrated casino
resort in Everett, Massachusetts, located adjacent to Boston along the
Mystic River. The resort will contain a hotel, a waterfront boardwalk,
meeting and convention space, casino space, a spa, retail offerings and
food and beverage outlets. The total project budget, including gaming
license fees, construction costs, capitalized interest, pre-opening
expenses and land costs, is estimated to be approximately $2.6 billion.
As of March 31, 2019, we have incurred $2.26 billion in total project
costs. We expect to open Encore Boston Harbor in mid-2019.
We are currently constructing an approximately 430,000 square foot
meeting and convention facility at Wynn Las Vegas and have begun
construction activities in connection with the reconfiguration of the
Wynn Las Vegas golf course, which we closed in the fourth quarter of
2017. Based on current designs, we estimate the total project budget to
be approximately $425 million. As of March 31, 2019, we have incurred
$181.5 million in total project costs. We expect to reopen the golf
course in the fourth quarter of 2019 and open the additional meeting and
convention space in the first quarter of 2020.
Balance Sheet
Our cash and cash equivalents and restricted cash as of March 31, 2019
totaled $1.83 billion.
Total current and long-term debt outstanding at March 31, 2019 was $9.17
billion, comprised of $3.73 billion of Macau related debt, $3.10 billion
of Wynn Las Vegas debt, $983 million of Wynn America debt, $740 million
of Wynn Resorts debt, and $611 million of debt held by the retail joint
venture which we consolidate.
As previously disclosed, on March 8, 2019, the Company entered into an
Incremental Joinder Agreement that amended the Wynn Resorts Term Loan
Credit Agreement to, among other things, provide the Company with an
additional $250 million term loan on substantially similar terms as the
Wynn Resorts Term Loan.
Conference Call and Other Information
The Company will hold a conference call to discuss its results,
including the results of Wynn Las Vegas, LLC, on May 9, 2019 at 1:30
p.m. PT (4:30 p.m. ET). Interested parties are invited to join the call
by accessing a live audio webcast at http://www.wynnresorts.com.
On May 9, 2019, the Company will make Wynn Las Vegas, LLC financial
information for the quarter ended March 31, 2019 available to
noteholders, prospective investors, broker-dealers and securities
analysts. Please contact our investor relations office at 702-770-7555
or at [email protected],
to obtain access to such financial information.
Forward-looking Statements
This release contains forward-looking statements regarding operating
trends and future results of operations. Such forward-looking statements
are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those we express in these
forward-looking statements, including, but not limited to, controversy,
regulatory action, litigation and investigations related to Stephen A.
Wynn and his separation from the Company, extensive regulation of our
business, pending or future claims and legal proceedings, ability to
maintain gaming licenses and concessions, dependence on key employees,
general global political and economic conditions, adverse tourism
trends, dependence on a limited number of resorts, competition in the
casino/hotel and resort industries, uncertainties over the development
and success of new gaming and resort properties, construction risks,
cybersecurity risk and our leverage and debt service. Additional
information concerning potential factors that could affect the Company’s
financial results is included in the Company’s Annual Report on Form
10-K for the year ended December 31, 2018 and the Company’s other
periodic reports filed with the Securities and Exchange Commission. The
Company is under no obligation to (and expressly disclaims any such
obligation to) update or revise its forward-looking statements as a
result of new information, future events or otherwise.
Non-GAAP Financial Measures
(1) “Adjusted net income attributable to Wynn Resorts, Limited” is net
income (loss) attributable to Wynn Resorts, Limited before litigation
settlement expense, nonrecurring regulatory expense, pre-opening
expenses, property charges and other, change in derivatives fair value,
change in Redemption Note fair value, gain on extinguishment of debt,
foreign currency remeasurement loss, net of noncontrolling interests and
income taxes calculated using the specific tax treatment applicable to
the adjustments based on their respective jurisdictions. Adjusted net
income (loss) attributable to Wynn Resorts, Limited and adjusted net
income (loss) attributable to Wynn Resorts, Limited per diluted share
are presented as supplemental disclosures to financial measures in
accordance with GAAP because management believes that these non-GAAP
financial measures are widely used to measure the performance, and as a
principal basis for valuation, of gaming companies. These measures are
used by management and/or evaluated by some investors, in addition to
net income (loss) and earnings per share computed in accordance with
GAAP, as an additional basis for assessing period-to-period results of
our business. Adjusted net income (loss) attributable to Wynn Resorts,
Limited and adjusted net income (loss) attributable to Wynn Resorts,
Limited per diluted share may be different from the calculation methods
used by other companies and, therefore, comparability may be limited.
(2) “Adjusted Property EBITDA” is net income (loss) before interest,
income taxes, depreciation and amortization, litigation settlement
expense, pre-opening expenses, property charges and other, management
and license fees, corporate expenses and other, stock-based
compensation, gain on extinguishment of debt, change in derivatives fair
value, change in Redemption Note fair value and other non-operating
income and expenses. Adjusted Property EBITDA is presented exclusively
as a supplemental disclosure because management believes that it is
widely used to measure the performance, and as a basis for valuation, of
gaming companies. Management uses Adjusted Property EBITDA as a measure
of the operating performance of its segments and to compare the
operating performance of its properties with those of its competitors,
as well as a basis for determining certain incentive compensation. The
Company also presents Adjusted Property EBITDA because it is used by
some investors to measure a company’s ability to incur and service debt,
make capital expenditures and meet working capital requirements. Gaming
companies have historically reported EBITDA as a supplement to GAAP. In
order to view the operations of their casinos on a more stand-alone
basis, gaming companies, including Wynn Resorts, Limited, have
historically excluded from their EBITDA calculations pre-opening
expenses, property charges, corporate expenses and stock-based
compensation, that do not relate to the management of specific casino
properties. However, Adjusted Property EBITDA should not be considered
as an alternative to operating income as an indicator of the Company’s
performance, as an alternative to cash flows from operating activities
as a measure of liquidity, or as an alternative to any other measure
determined in accordance with GAAP. Unlike net income, Adjusted Property
EBITDA does not include depreciation or interest expense and therefore
does not reflect current or future capital expenditures or the cost of
capital. The Company has significant uses of cash flows, including
capital expenditures, interest payments, debt principal repayments,
income taxes and other non-recurring charges, which are not reflected in
Adjusted Property EBITDA. Also, Wynn Resorts’ calculation of Adjusted
Property EBITDA may be different from the calculation methods used by
other companies and, therefore, comparability may be limited.
The Company has included schedules in the tables that accompany this
release that reconcile (i) net income (loss) attributable to Wynn
Resorts, Limited to adjusted net income attributable to Wynn Resorts,
Limited, (ii) operating income (loss) to Adjusted Property EBITDA, and
(iii) net income (loss) attributable to Wynn Resorts, Limited to
Adjusted Property EBITDA.
| WYNN RESORTS, LIMITED AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (in thousands, except per share data) | ||||||||
| (unaudited) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2019 | 2018 | |||||||
| Operating revenues: | ||||||||
| Casino | $ | 1,185,101 | $ | 1,242,139 | ||||
| Rooms | 191,270 | 190,310 | ||||||
| Food and beverage | 173,219 | 172,222 | ||||||
| Entertainment, retail and other | 101,956 | 110,907 | ||||||
| Total operating revenues | 1,651,546 | 1,715,578 | ||||||
| Operating expenses: | ||||||||
| Casino | 750,071 | 764,401 | ||||||
| Rooms | 63,706 | 63,197 | ||||||
| Food and beverage | 148,761 | 137,658 | ||||||
| Entertainment, retail and other | 44,044 | 48,030 | ||||||
| General and administrative | 217,322 | 169,585 | ||||||
| Litigation settlement | — | 463,557 | ||||||
| Provision for doubtful accounts | 5,422 | 691 | ||||||
| Pre-opening | 27,713 | 10,345 | ||||||
| Depreciation and amortization | 136,557 | 136,357 | ||||||
| Property charges and other | 2,774 | 3,051 | ||||||
| Total operating expenses | 1,396,370 | 1,796,872 | ||||||
| Operating income (loss) | 255,176 | (81,294 | ) | |||||
| Other income (expense): | ||||||||
| Interest income | 7,287 | 7,220 | ||||||
| Interest expense, net of amounts capitalized | (93,180 | ) | (98,227 | ) | ||||
| Change in derivatives fair value | (1,509 | ) | — | |||||
| Change in Redemption Note fair value | — | (69,331 | ) | |||||
| Gain on extinguishment of debt | — | 2,329 | ||||||
| Other | (6,358 | ) | (9,220 | ) | ||||
| Other income (expense), net | (93,760 | ) | (167,229 | ) | ||||
| Income (loss) before income taxes | 161,416 | (248,523 | ) | |||||
| Benefit (provision) for income taxes | (1,685 | ) | 111,045 | |||||
| Net income (loss) | 159,731 | (137,478 | ) | |||||
| Less: net income attributable to noncontrolling interests | (54,859 | ) | (66,829 | ) | ||||
| Net income (loss) attributable to Wynn Resorts, Limited | $ | 104,872 | $ | (204,307 | ) | |||
| Basic and diluted income (loss) per common share: | ||||||||
| Net income (loss) attributable to Wynn Resorts, Limited: | ||||||||
| Basic | $ | 0.98 | $ | (1.99 | ) | |||
| Diluted | $ | 0.98 | $ | (1.99 | ) | |||
| Weighted average common shares outstanding: | ||||||||
| Basic | 106,792 | 102,570 | ||||||
| Diluted | 107,073 | 102,570 | ||||||
| Dividends declared per common share: | $ | 0.75 | $ | 0.50 | ||||
| WYNN RESORTS, LIMITED AND SUBSIDIARIES | ||||||||
|
RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED |
||||||||
| TO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED | ||||||||
| (in thousands, except per share data) | ||||||||
| (unaudited) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2019 | 2018 | |||||||
| Net income (loss) attributable to Wynn Resorts, Limited | $ | 104,872 | $ | (204,307 | ) | |||
| Litigation settlement expense | — | 463,557 | ||||||
| Nonrecurring regulatory expense | 35,000 | — | ||||||
| Pre-opening expenses | 27,713 | 10,345 | ||||||
| Property charges and other | 2,774 | 3,051 | ||||||
| Change in derivatives fair value | 1,509 | — | ||||||
| Change in Redemption Note fair value | — | 69,331 | ||||||
| Gain on extinguishment of debt | — | (2,329 | ) | |||||
| Foreign currency remeasurement loss | 6,358 | 9,220 | ||||||
| Income tax impact on adjustments | (2,692 | ) | (108,827 | ) | ||||
| Noncontrolling interests impact on adjustments | (2,950 | ) | (3,068 | ) | ||||
| Adjusted net income attributable to Wynn Resorts, Limited | $ | 172,584 | $ | 236,973 | ||||
|
Adjusted net income attributable to Wynn Resorts, Limited per diluted share |
$ | 1.61 | $ | 2.30 | ||||
| Weighted average common shares outstanding – diluted | 107,073 | 103,155 | ||||||
| WYNN RESORTS, LIMITED AND SUBSIDIARIES | |||||||||||||||||||||||||||
|
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA |
|||||||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||||||||
| Three Months Ended March 31, 2019 | |||||||||||||||||||||||||||
|
Operating income (loss) |
Pre-opening expenses |
Depreciation and amortization |
Property charges and other |
Management and license fees |
Corporate expenses and other |
Stock-based compensation |
Adjusted Property EBITDA |
||||||||||||||||||||
| Macau Operations: | |||||||||||||||||||||||||||
| Wynn Palace | $ | 125,791 | $ | — | $ | 66,066 | $ | 1,120 | $ | 27,220 | $ | 1,284 | $ | 1,105 | $ | 222,586 | |||||||||||
| Wynn Macau | 118,397 | — | 21,912 | 393 | 18,986 | 1,495 | 2,706 | 163,889 | |||||||||||||||||||
| Other Macau | (3,303 | ) | — | 1,117 | 6 | — | 1,913 | 267 | — | ||||||||||||||||||
| Total Macau Operations | 240,885 | — | 89,095 | 1,519 | 46,206 | 4,692 | 4,078 | 386,475 | |||||||||||||||||||
| Las Vegas Operations | 38,924 | — | 44,590 | 510 | 18,721 | 3,965 | 1,592 | 108,302 | |||||||||||||||||||
| Corporate and Other | (24,633 | ) | 27,713 | 2,872 | 745 | (64,927 | ) | 53,892 | 4,338 | — | |||||||||||||||||
| Total | $ | 255,176 | $ | 27,713 | $ | 136,557 | $ | 2,774 | $ | — | $ | 62,549 | $ | 10,008 | $ | 494,777 | |||||||||||
| Three Months Ended March 31, 2018 | |||||||||||||||||||||||||||
|
Operating income (loss) |
Pre-opening expenses |
Depreciation and amortization |
Property charges and other |
Management and license fees |
Corporate expenses and other (1) |
Stock-based compensation |
Adjusted Property EBITDA |
||||||||||||||||||||
| Macau Operations: | |||||||||||||||||||||||||||
| Wynn Palace | $ | 119,471 | $ | — | $ | 64,424 | $ | 1,027 | $ | 24,225 | $ | 1,452 | $ | 1,312 | $ | 211,911 | |||||||||||
| Wynn Macau | 159,461 | — | 22,170 | 768 | 23,366 | 1,864 | 2,193 | 209,822 | |||||||||||||||||||
| Other Macau | (3,970 | ) | — | 1,106 | 9 | — | 2,690 | 165 | — | ||||||||||||||||||
| Total Macau Operations | 274,962 | — | 87,700 | 1,804 | 47,591 | 6,006 | 3,670 | 421,733 | |||||||||||||||||||
| Las Vegas Operations | 71,874 | 6 | 45,783 | 1,329 | 20,039 | 2,948 | 617 | 142,596 | |||||||||||||||||||
| Corporate and Other (1) | (428,130 | ) | 10,339 | 2,874 | (82 | ) | (67,630 | ) | 479,612 | 3,017 | — | ||||||||||||||||
| Total | $ | (81,294 | ) | $ | 10,345 | $ | 136,357 | $ | 3,051 | $ | — | $ | 488,566 | $ | 7,304 | $ | 564,329 | ||||||||||
|
(1) Corporate expense and other includes the litigation settlement |
|||||||||||||||||||||||||||
| WYNN RESORTS, LIMITED AND SUBSIDIARIES | ||||||||
|
RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO |
||||||||
| ADJUSTED PROPERTY EBITDA | ||||||||
| (in thousands) | ||||||||
| (unaudited) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2019 | 2018 | |||||||
| Net income (loss) attributable to Wynn Resorts, Limited | $ | 104,872 | $ | (204,307 | ) | |||
| Net income attributable to noncontrolling interests | 54,859 | 66,829 | ||||||
| Litigation settlement expense | — | 463,557 | ||||||
| Pre-opening expenses | 27,713 | 10,345 | ||||||
| Depreciation and amortization | 136,557 | 136,357 | ||||||
| Property charges and other | 2,774 | 3,051 | ||||||
| Corporate expenses and other | 62,549 | 25,009 | ||||||
| Stock-based compensation | 10,008 | 7,304 | ||||||
| Interest income | (7,287 | ) | (7,220 | ) | ||||
| Interest expense, net of amounts capitalized | 93,180 | 98,227 | ||||||
| Change in derivatives fair value | 1,509 | — | ||||||
| Change in Redemption Note fair value | — | 69,331 | ||||||
| Gain on extinguishment of debt | — | (2,329 | ) | |||||
| Other | 6,358 | 9,220 | ||||||
| (Benefit) provision for income taxes | 1,685 | (111,045 | ) | |||||
| Adjusted Property EBITDA | $ | 494,777 | $ | 564,329 | ||||
| WYNN RESORTS, LIMITED AND SUBSIDIARIES | ||||||||
| SUPPLEMENTAL DATA SCHEDULE | ||||||||
|
(dollars in thousands, except for win per unit per day, ADR and REVPAR) |
||||||||
| (unaudited) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2019 | 2018 | |||||||
| Macau Operations: | ||||||||
| Wynn Palace: | ||||||||
| VIP: | ||||||||
| Average number of table games | 111 | 115 | ||||||
| VIP turnover | $ | 12,627,262 | $ | 15,385,833 | ||||
| VIP table games win (1) | $ | 493,184 | $ | 399,891 | ||||
| VIP table games win as a % of turnover | 3.91 | % | 2.60 | % | ||||
| Table games win per unit per day | $ | 49,156 | $ | 38,533 | ||||
| Mass market: | ||||||||
| Average number of table games | 211 | 211 | ||||||
| Table drop (2) | $ | 1,303,924 | $ | 1,217,201 | ||||
| Table games win (1) | $ | 315,469 | $ | 310,159 | ||||
| Table games win % | 24.2 | % | 25.5 | % | ||||
| Table games win per unit per day | $ | 16,646 | $ | 16,341 | ||||
| Average number of slot machines | 1,091 | 1,062 | ||||||
| Slot machine handle | $ | 975,048 | $ | 1,058,096 | ||||
| Slot machine win (3) | $ | 51,401 | $ | 55,785 | ||||
| Slot machine win per unit per day | $ | 524 | $ | 584 | ||||
| Room statistics: | ||||||||
| Occupancy | 97.2 | % | 96.8 | % | ||||
| ADR (4) | $ | 271 | $ | 252 | ||||
| REVPAR (5) | $ | 264 | $ | 244 | ||||
| Wynn Macau: | ||||||||
| VIP: | ||||||||
| Average number of table games | 113 | 114 | ||||||
| VIP turnover | $ | 10,194,031 | $ | 17,087,455 | ||||
| VIP table games win (1) | $ | 295,298 | $ | 445,189 | ||||
| VIP table games win as a % of turnover | 2.90 | % | 2.61 | % | ||||
| Table games win per unit per day | $ | 29,099 | $ | 43,531 | ||||
| Mass market: | ||||||||
| Average number of table games | 206 | 203 | ||||||
| Table drop (2) | $ | 1,351,693 | $ | 1,322,815 | ||||
| Table games win (1) | $ | 264,542 | $ | 256,481 | ||||
| Table games win % | 19.6 | % | 19.4 | % | ||||
| Table games win per unit per day | $ | 14,283 | $ | 14,042 | ||||
| Average number of slot machines | 826 | 939 | ||||||
| Slot machine handle | $ | 794,367 | $ | 1,002,819 | ||||
| Slot machine win (3) | $ | 37,894 | $ | 41,765 | ||||
| Slot machine win per unit per day | $ | 510 | $ | 494 | ||||
| Room statistics: | ||||||||
| Occupancy | 99.3 | % | 99.0 | % | ||||
| ADR (4) | $ | 290 | $ | 291 | ||||
| REVPAR (5) | $ | 288 | $ | 288 | ||||
| WYNN RESORTS, LIMITED AND SUBSIDIARIES | ||||||||
| SUPPLEMENTAL DATA SCHEDULE | ||||||||
|
(dollars in thousands, except for win per unit per day, ADR and REVPAR) |
||||||||
| (unaudited) (continued) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2019 | 2018 | |||||||
| Las Vegas Operations: | ||||||||
| Average number of table games | 238 | 238 | ||||||
| Table drop (2) | $ | 404,073 | $ | 536,581 | ||||
| Table games win (1) | $ | 111,370 | $ | 154,433 | ||||
| Table games win % | 27.6 | % | 28.8 | % | ||||
| Table games win per unit per day | $ | 5,198 | $ | 7,212 | ||||
| Average number of slot machines | 1,807 | 1,829 | ||||||
| Slot machine handle | $ | 789,310 | $ | 744,133 | ||||
| Slot machine win (3) | $ | 54,544 | $ | 49,264 | ||||
| Slot machine win per unit per day | $ | 335 | $ | 299 | ||||
| Room statistics: | ||||||||
| Occupancy | 82.6 | % | 83.9 | % | ||||
| ADR (4) | $ | 338 | $ | 340 | ||||
| REVPAR (5) | $ | 279 | $ | 285 | ||||
Contacts
Vincent Zahn
702-770-7555
[email protected]
