Wynn Resorts Conference Call Highlights

Wynn Resorts

reported its third quarter earnings. Shares of the company are up fairly neutral for the day. Below are some key highlights and takeaways from its conference call: Macau: • Basically with the last quarter, we made up in the slot machines and the general casino in Macau. • But it's always been government sensitive. • Everybody's being very conservative at this point over there. I think taking the cue from President Xi, who is a very conservative man. And it's had an impact on Macau in October. We've all noticed it. • And I don't know whether it's a squall or we're in the rainy season or how long it will last, but we're still very, very bullish on Macau. • Things happen in China at their own pace and in their own time. And for those of us who are lucky enough to be in business there, you have to sit there and go along with the program and adjust to it as best you can. • But we're on target. We're on budget. We're on time. And Wynn Palace is proceeding. • We think that it's going be a very wonderful addition to the market in terms of attracting people to Macau. • Like, as in the case of our competitors, everything that's being built lately is even better than what has been built before. • The community's social profile is being lifted. • With regard to Las Vegas, we were very happy with this quarter. It's a continuation of what we've seen in the past. Financials: • All of our metrics have improved. For the previous, for the running 12 months • I think our EBITDA was $520 million-odd. • Increased our regular dividend effective immediately to $1.50 a quarter. • We want to stay very conservative as you know we have a tremendous focus on our balance sheet. And we've made our special dividend $1.0 and elected instead to increase the regular dividend by another $1.0 a year.