Market Overview

Wynn Resorts, Limited Reports Second Quarter 2018 Results

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Wynn Resorts, Limited (NASDAQ:WYNN) today reported financial results
for the second quarter ended June 30, 2018. The results reflect the
Company's adoption of the new revenue recognition standard ("ASC 606"),
effective January 1, 2018. Certain prior period amounts have been
adjusted to reflect the full retrospective adoption of ASC 606, with no
impact on operating income, net income or Adjusted Property EBITDA (1).

Operating revenues were $1.61 billion for the second quarter of 2018, an
increase of 9.0%, or $132.5 million, from $1.47 billion for the same
period of 2017. Operating revenues from Wynn Palace and our Las Vegas
Operations increased $224.2 million and $3.5 million, respectively,
compared to the same period of 2017. These increases were offset by a
decrease of $95.2 million from Wynn Macau.

On a U.S. generally accepted accounting principles ("GAAP") basis, net
income attributable to Wynn Resorts, Limited was $155.8 million, or
$1.44 per diluted share, for the second quarter of 2018, compared to
$74.9 million, or $0.73 per diluted share, for the same period of 2017.
The increase in net income attributable to Wynn Resorts, Limited was
primarily due to an increase in operating income from Wynn Palace.
Adjusted net income attributable to Wynn Resorts, Limited (2) was $166.2
million, or $1.53 per diluted share, for the second quarter of 2018,
compared to $129.4 million, or $1.26 per diluted share, for the same
period of 2017.

Adjusted Property EBITDA was $476.4 million for the second quarter of
2018, an increase of 10.8%, or $46.3 million, from $430.0 million for
the same period of 2017. Adjusted Property EBITDA from Wynn Palace
increased $91.9 million compared to the same period of 2017. This
increase was offset by decreases of $37.5 million and $8.1 million from
Wynn Macau and our Las Vegas Operations, respectively.

Wynn Resorts, Limited also announced today that the Company has approved
a cash dividend of $0.75 per share, payable on August 28, 2018 to
stockholders of record as of August 16, 2018.

Macau Operations

Wynn Macau

Operating revenues from Wynn Macau were $543.3 million for the second
quarter of 2018, a 14.9% decrease from $638.5 million for the same
period of 2017. Adjusted Property EBITDA from Wynn Macau was $172.9
million for the second quarter of 2018, a 17.8% decrease from $210.4
million for the same period of 2017.

Casino revenues from Wynn Macau were $473.3 million for the second
quarter of 2018, an 18.1% decrease from $578.1 million for the same
period of 2017. Table games turnover in VIP operations was $13.93
billion, a 13.1% decrease from $16.02 billion for the same period of
2017. VIP table games win as a percentage of turnover was 2.56%, below
the expected range of 2.7% to 3.0% and the 3.53% experienced in the
second quarter of 2017. Table drop in mass market operations was $1.29
billion, a 21.1% increase from $1.07 billion for the second quarter of
2017. Table games win in mass market operations was $252.0 million, a
13.8% increase from $221.6 million for the second quarter of 2017. Table
games win percentage in mass market operations was 19.5%, below the
20.8% experienced in the second quarter of 2017. Slot machine handle was
$963.6 million, an 11.0% increase from $867.9 million for the second
quarter of 2017, while slot machine win increased 2.3% to $40.4 million.

Non-casino revenues from Wynn Macau were $70.0 million for the second
quarter of 2018, a 15.9% increase from $60.4 million for the same period
of 2017. Room revenues were $27.1 million for the second quarter of
2018, a 16.0% increase from $23.3 million for the same period of 2017.
Average daily rate ("ADR") was $272, a 15.7% increase from $235 for the
second quarter of 2017. Occupancy increased to 99.4% for the second
quarter of 2018, from 97.5% for the same period of 2017. Revenue per
available room ("REVPAR") was $271, an 18.3% increase from $229 for the
second quarter of 2017.

Wynn Palace

Operating revenues from Wynn Palace were $620.6 million for the second
quarter of 2018, a 56.6% increase from $396.4 million for the same
period of 2017. Adjusted Property EBITDA from Wynn Palace was $179.3
million for the second quarter of 2018, a 105.1% increase from $87.4
million for the same period of 2017.

Casino revenues from Wynn Palace were $525.0 million for the second
quarter of 2018, a 62.4% increase from $323.3 million for the same
period of 2017. Table games turnover in VIP operations was $14.03
billion, a 20.9% increase from $11.60 billion for the second quarter of
2017. VIP table games win as a percentage of turnover was 3.00%, within
the expected range of 2.7% to 3.0% and above the 2.18% experienced in
the second quarter of 2017. Table drop in mass market operations was
$1.22 billion, a 67.2% increase from $729.0 million for the second
quarter of 2017. Table games win in mass market operations was $280.6
million, a 66.3% increase from $168.7 million for the second quarter of
2017. Table games win percentage in mass market operations was 23.0%,
slightly below the 23.1% experienced in the second quarter of 2017. Slot
machine handle was $941.0 million, a 43.0% increase from $657.9 million
for the second quarter of 2017, while slot machine win increased 26.9%
to $44.2 million for the second quarter of 2018.

Non-casino revenues from Wynn Palace were $95.6 million for the second
quarter of 2018, a 30.6% increase from $73.1 million for the same period
of 2017. Room revenues were $40.7 million for the second quarter of
2018, a 46.2% increase from $27.9 million for the same period of 2017.
ADR was $254, a 36.6% increase from $186 for the second quarter of 2017.
Occupancy was flat at 96.2% for the second quarter of 2018, compared to
the same period of 2017. REVPAR was $245, a 37.6% increase from $178 for
the second quarter of 2017.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $441.6 million for
the second quarter of 2018, a 0.8% increase from $438.0 million for the
same period of 2017. Adjusted Property EBITDA from our Las Vegas
Operations was $124.2 million, a 6.1% decrease from $132.2 million for
the second quarter of 2017.

Casino revenues from our Las Vegas Operations were $101.7 million for
the second quarter of 2018, a 1.2% increase from $100.5 million for the
same period of 2017. Table games drop was $403.7 million, a 3.7%
decrease from $419.3 million for the second quarter of 2017. Table games
win was flat at $101.0 million for the second quarter of 2018, compared
to the same period of 2017. Table games win percentage was 25.0%, within
the expected range of 22% to 26% and above the 24.2% experienced in the
second quarter of 2017. Slot machine handle was $778.4 million, a 1.8%
increase from $764.8 million for the second quarter of 2017, while slot
machine win decreased 6.8% to $49.4 million.

Non-casino revenues from our Las Vegas Operations were $339.8 million
for the second quarter of 2018, a 0.7% increase from $337.5 million for
the same period of 2017. Room revenues were $118.3 million for the
second quarter of 2018, a 4.0% increase from $113.7 million for the same
period of 2017. ADR was $313, a 5.0% increase from $298 for the second
quarter of 2017. Occupancy decreased to 87.7% for the second quarter of
2018, from 88.7% for the same period of 2017. REVPAR was $274, a 3.4%
increase from $265 for the second quarter of 2017. Food and beverage
revenues increased 2.3%, to $170.9 million for the second quarter of
2018, compared to the same period of 2017. Entertainment, retail and
other revenues decreased 10.7%, to $50.7 million for the second quarter
of 2018, compared to the same period of 2017.

Encore Boston Harbor Project in Massachusetts

The Company is currently constructing Encore Boston Harbor, an
integrated 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
$2.5 billion. As of June 30, 2018, we have incurred $1.64 billion in
total project costs. We expect to open Encore Boston Harbor in mid-2019.

Balance Sheet

Our cash and cash equivalents, restricted cash and investment securities
as of June 30, 2018 were $1.58 billion.

Total debt outstanding at the end of the quarter was $8.31 billion,
including $4.23 billion of Macau related debt, $3.10 billion of Wynn Las
Vegas debt and $985.9 million at the parent company and other.

On July 25, 2018, certain subsidiaries in the Company's retail joint
venture (the "Borrowers") entered into a $615.0 million term loan
agreement (the "Retail Term Loan"). The Borrowers own approximately
162,000 square feet of retail space at Wynn Las Vegas, and each of the
Borrowers is a 50.1%-owned subsidiary of the Company, with the other
49.9% owned by Crown Acquisitions Inc. The Retail Term Loan matures in
July 2025 and bears interest at LIBOR plus 1.70% per annum. The
Borrowers distributed approximately $589 million of the net proceeds of
the Retail Term Loan to their members. The Company intends to use its
portion of the net proceeds for the construction of Encore Boston Harbor
and for other general corporate purposes.

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 August 1, 2018 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 August 8, 2018, the Company will make Wynn Las Vegas, LLC financial
information for the quarter ended June 30, 2018 available to
noteholders, prospective investors, broker-dealers and securities
analysts. Please contact our investor relations office at 702-770-7555
or at investorrelations@wynnresorts.com,
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, 2017 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 Property EBITDA" is net income 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 (including intercompany golf course
and water rights leases), stock-based compensation, gain (loss) on
extinguishment of debt, change in interest rate swap 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
as a way 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.

(2) "Adjusted net income attributable to Wynn Resorts, Limited" is net
income (loss) attributable to Wynn Resorts, Limited before litigation
settlement expense, pre-opening expenses, property charges and other,
change in interest rate swap fair value, change in Redemption Note fair
value, gain (loss) 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
attributable to Wynn Resorts, Limited and adjusted net income
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 (loss) per share computed in accordance with GAAP, as an
additional basis for assessing period-to-period results of our business.
Adjusted net income attributable to Wynn Resorts, Limited and adjusted
net income 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.

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 June 30, Six Months Ended June 30,
2018   2017 2018   2017
(as adjusted) (as adjusted)
Operating revenues:
Casino $ 1,100,027 $ 1,001,828 $ 2,342,166 $ 1,991,568
Rooms 186,051 164,940 376,361 333,764
Food and beverage 214,867 204,294 387,089 368,827
Entertainment, retail and other 104,479   101,830   215,386   202,490  
Total operating revenues 1,605,424   1,472,892   3,321,002   2,896,649  
Operating expenses:
Casino 707,194 648,616 1,471,595 1,278,412
Rooms 63,675 62,021 126,872 122,788
Food and beverage 168,296 154,744 305,954 286,512
Entertainment, retail and other 46,589 46,927 94,619 93,992
General and administrative 183,631 164,169 353,216 324,131
Litigation settlement 463,557
Benefit for doubtful accounts (1,390 ) (2,083 ) (699 ) (6,249 )
Pre-opening 11,196 6,758 21,541 12,537
Depreciation and amortization 137,870 137,686 274,227 277,506
Property charges and other 8,791   7,165   11,842   10,201  
Total operating expenses 1,325,852   1,226,003   3,122,724   2,399,830  
Operating income 279,572   246,889   198,278   496,819  
Other income (expense):
Interest income 6,861 7,080 14,081 13,551
Interest expense, net of amounts capitalized (89,898 ) (97,739 ) (188,125 ) (196,001 )
Change in interest rate swap fair value (283 ) (1,054 )
Change in Redemption Note fair value (12,417 ) (69,331 ) (28,264 )
Gain (loss) on extinguishment of debt (22,287 ) 2,329 (22,287 )
Other (957 ) (11,840 ) (10,177 ) (17,947 )
Other income (expense), net (83,994 ) (137,486 ) (251,223 ) (252,002 )
Income (loss) before income taxes 195,578 109,403 (52,945 ) 244,817
Benefit (provision) for income taxes 9,702   (2,607 ) 120,747   (5,497 )
Net income 205,280 106,796 67,802 239,320
Less: net income attributable to noncontrolling interests (49,524 ) (31,880 ) (116,353 ) (63,589 )
Net income (loss) attributable to Wynn Resorts, Limited $ 155,756   $ 74,916   $ (48,551 ) $ 175,731  
Basic and diluted income (loss) per common share:
Net income (loss) attributable to Wynn Resorts, Limited:
Basic $ 1.44 $ 0.73 $ (0.46 ) $ 1.73
Diluted $ 1.44 $ 0.73 $ (0.46 ) $ 1.72
Weighted average common shares outstanding:
Basic 107,792 101,944 105,195 101,851
Diluted 108,405 102,494 105,195 102,274
Dividends declared per common share: $ 0.75 $ 0.50 $ 1.25 $ 1.00
 
 

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 June 30, Six Months Ended June 30,
2018   2017 2018   2017
Net income (loss) attributable to Wynn Resorts, Limited $ 155,756 $ 74,916 $ (48,551 ) $ 175,731
Litigation settlement expense 463,557
Pre-opening expenses 11,196 6,758 21,541 12,537
Property charges and other 8,791 7,165 11,842 10,201
Change in interest rate swap fair value 283 1,054
Change in Redemption Note fair value 12,417 69,331 28,264
(Gain) loss on extinguishment of debt 22,287 (2,329 ) 22,287
Foreign currency remeasurement loss 957 11,840 10,177 17,947
Income tax impact on adjustments (8,558 ) (2,439 ) (117,386 ) (1,770 )
Noncontrolling interests impact on adjustments (1,934 ) (3,788 ) (5,002 ) (5,927 )
Adjusted net income attributable to Wynn Resorts, Limited $ 166,208   $ 129,439   $ 403,180   $ 260,324  
Adjusted net income attributable to Wynn Resorts, Limited per
diluted share
$ 1.53   $ 1.26   $ 3.81   $ 2.55  
 
Weighted average common shares outstanding - diluted 108,405 102,494 105,812 102,274
 
 

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION
OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in
thousands)

(unaudited)

   
Three Months Ended June 30, 2018

Operating
income
(loss)

   

Pre-opening
expenses

   

Depreciation
and
amortization

   

Property
charges and
other

   

Management
and license
fees

   

Corporate
expense and
other

   

Stock-based
compensation

   

Adjusted
Property
EBITDA

Macau Operations:
Wynn Macau $ 126,268 $ $ 21,604 $ 721 $ 20,488 $ 2,224 $ 1,623 $ 172,928
Wynn Palace 82,501 64,457 5,633 23,663 2,020 991 179,265
Other Macau (3,176 )   1,105   54     1,848   169  
Total Macau Operations 205,593 87,166 6,408 44,151 6,092 2,783 352,193
Las Vegas Operations 51,150 2 47,579 429 20,299 3,702 996 124,157
Corporate and Other 22,829   11,194   3,125   1,954   (64,450 ) 19,785   5,563  
Total $ 279,572   $ 11,196   $ 137,870   $ 8,791   $   $ 29,579   $ 9,342   $ 476,350
 
 
    Three Months Ended June 30, 2017

Operating
income
(loss)

   

Pre-opening
expenses

   

Depreciation
and
amortization

   

Property
charges and
other

   

Management
and license
fees

   

Corporate
expense and
other

   

Stock-based
compensation

   

Adjusted
Property
EBITDA

Macau Operations:
Wynn Macau $ 153,711 $ $ 24,600 $ 821 $ 26,818 $ 2,344 $ 2,104 $ 210,398
Wynn Palace 3,140 64,092 662 16,080 2,161 1,268 87,403
Other Macau (2,996 )   1,130   6     1,692   168  
Total Macau Operations 153,855 89,822 1,489 42,898 6,197 3,540 297,801
Las Vegas Operations 60,868 272 45,155 5,683 12,263 7,496 473 132,210
Corporate and Other 32,166   6,486   2,709   (7 ) (55,161 ) 7,240   6,567  
Total $ 246,889   $ 6,758   $ 137,686   $ 7,165   $   $ 20,933   $ 10,580   $ 430,011
 
 

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION
OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in
thousands) (unaudited)

(continued)

   
Six Months Ended June 30, 2018

Operating
income
(loss)

   

Pre-opening
expenses

   

Depreciation
and
amortization

   

Property
charges and
other

   

Management
and license
fees

   

Corporate
expense and
other

   

Stock-based
compensation

   

Adjusted
Property
EBITDA

Macau Operations:
Wynn Macau $ 285,729 $ $ 43,774 $ 1,489 $ 43,854 $ 4,088 $ 3,816 $ 382,750
Wynn Palace 201,972 128,881 6,660 47,888 3,472 2,303 391,176
Other Macau (7,146 )   2,211   63     4,538   334  
Total Macau Operations 480,555 174,866 8,212 91,742 12,098 6,453 773,926
Las Vegas Operations 123,024 8 93,362 1,758 40,338 6,650 1,613 266,753
Corporate and Other (1) (405,301 ) 21,533   5,999   1,872   (132,080 ) 499,397   8,580  
Total $ 198,278   $ 21,541   $ 274,227   $ 11,842   $   $ 518,145   $ 16,646   $ 1,040,679
 
 
    Six Months Ended June 30, 2017

Operating
income
(loss)

   

Pre-opening
expenses

   

Depreciation
and
amortization

   

Property
charges and
other

   

Management
and license
fees

   

Corporate
expense and
other

   

Stock-based
compensation

   

Adjusted
Property
EBITDA

Macau Operations:
Wynn Macau $ 281,852 $ $ 49,309 $ 1,536 $ 49,628 $ 5,202 $ 3,977 $ 391,504
Wynn Palace 28,011 128,687 760 34,751 4,546 2,504 199,259
Other Macau (5,964 )   2,261   6     3,369   328  
Total Macau Operations 303,899 180,257 2,302 84,379 13,117 6,809 590,763
Las Vegas Operations 128,334 511 92,012 7,410 24,733 12,843 944 266,787
Corporate and Other 64,586   12,026   5,237   489   (109,112 ) 15,740   11,034  
Total $ 496,819   $ 12,537   $ 277,506   $ 10,201   $   $ 41,700   $ 18,787   $ 857,550
(1)   Corporate expense and other includes litigation settlement expense
of $463.6 million.
 
 

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 June 30, Six Months Ended June 30,
2018   2017 2018   2017
 
Net income (loss) attributable to Wynn Resorts, Limited $ 155,756 $ 74,916 $ (48,551 ) $ 175,731
Net income attributable to noncontrolling interests 49,524 31,880 116,353 63,589
Litigation settlement expense 463,557
Pre-opening expenses 11,196 6,758 21,541 12,537
Depreciation and amortization 137,870 137,686 274,227 277,506
Property charges and other 8,791 7,165 11,842 10,201
Corporate expense and other 29,579 20,933 54,588 41,700
Stock-based compensation 9,342 10,580 16,646 18,787
Interest income (6,861 ) (7,080 ) (14,081 ) (13,551 )
Interest expense, net of amounts capitalized 89,898 97,739 188,125 196,001
Change in interest rate swap fair value 283 1,054
Change in Redemption Note fair value 12,417 69,331 28,264
(Gain) loss on extinguishment of debt 22,287 (2,329 ) 22,287
Other 957 11,840 10,177 17,947
(Benefit) provision for income taxes (9,702 ) 2,607   (120,747 ) 5,497  
Adjusted Property EBITDA $ 476,350   $ 430,011   $ 1,040,679   $ 857,550  
 
 

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 June 30, Six Months Ended June 30,
2018   2017 2018   2017
Macau Operations:
Wynn Macau:
VIP:
Average number of table games 112 98 113 92
VIP turnover $ 13,928,463 $ 16,023,080 $ 31,015,918 $ 29,307,843
VIP table games win (1) $ 357,166 $ 566,091 $ 802,355 $ 1,005,002
VIP table games win as a % of turnover 2.56 % 3.53 % 2.59 % 3.43 %
Table games win per unit per day $ 35,044 $ 63,735 $ 39,295 $ 60,129
Mass market:
Average number of table games 204 205 203 204
Table drop (2) $ 1,293,154 $ 1,067,718 $ 2,615,969 $ 2,204,614
Table games win (1) $ 252,038 $ 221,567 $ 508,519 $ 434,471
Table games win % 19.5 % 20.8 % 19.4 % 19.7 %
Table games win per unit per day $ 13,577 $ 11,903 $ 13,808 $ 11,755
Average number of slot machines 922 917 930 901
Slot machine handle $ 963,635 $ 867,889 $ 1,966,454 $ 1,724,572
Slot machine win (3) $ 40,426 $ 39,531 $ 82,191 $ 78,085
Slot machine win per unit per day $ 482 $ 474 $ 488 $ 479
Room statistics:
Occupancy 99.4 % 97.5 % 99.2 % 96.6 %
ADR (4) $ 272 $ 235 $ 282 $ 241
REVPAR (5) $ 271 $ 229 $ 279 $ 233
 
Wynn Palace:
VIP:
Average number of table games 115 105 115 98
VIP turnover $ 14,029,065 $ 11,604,672 $ 29,414,898 $ 22,646,354
VIP table games win (1) $ 420,181 $ 252,641 $ 820,072 $ 587,383
VIP table games win as a % of turnover 3.00 % 2.18 % 2.79 % 2.59 %
Table games win per unit per day $ 40,036 $ 26,541 $ 39,289 $ 33,141
Mass market:
Average number of table games 211 202 211 206
Table drop (2) $ 1,218,863 $ 729,006 $ 2,436,064 $ 1,499,024
Table games win (1) $ 280,568 $ 168,746 $ 590,728 $ 336,373
Table games win % 23.0 % 23.1 % 24.2 % 22.4 %
Table games win per unit per day $ 14,632 $ 9,203 $ 15,482 $ 9,019
Average number of slot machines 1,069 1,025 1,065 1,011
Slot machine handle $ 940,972 $ 657,850 $ 1,999,068 $ 1,315,430
Slot machine win (3) $ 44,164 $ 34,814 $ 99,949 $ 68,748
Slot machine win per unit per day $ 454 $ 373 $ 518 $ 376
Room statistics:
Occupancy 96.2 % 96.2 % 96.5 % 95.9 %
ADR (4) $ 254 $ 186 $ 253 $ 190
REVPAR (5) $ 245 $ 178 $ 244 $ 182
 
 

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL
DATA SCHEDULE

(dollars in thousands, except for win
per unit per day, ADR and REVPAR)

(continued)
(unaudited)

       
Three Months Ended June 30, Six Months Ended June 30,
2018   2017 2018   2017
Las Vegas Operations:
Average number of table games 236 234 237 235
Table drop (2) $ 403,730 $ 419,338 $ 940,311 $ 877,935
Table games win (1) $ 100,987 $ 101,300 $ 255,420 $ 232,147
Table games win % 25.0 % 24.2 % 27.2 % 26.4 %
Table games win per unit per day $ 4,694 $ 4,749 $ 5,950 $ 5,448
Average number of slot machines 1,820 1,836 1,825 1,871
Slot machine handle $ 778,447 $ 764,786 $ 1,522,580 $ 1,530,700
Slot machine win (3) $ 49,418 $ 53,017 $ 98,681 $ 102,735
Slot machine win per unit per day $ 298 $ 317 $ 299 $ 303
Room statistics:
Occupancy 87.7 % 88.7 % 85.8 % 87.1 %
ADR (4) $ 313 $ 298 $ 326 $ 307
REVPAR (5) $ 274 $ 265 $ 280 $ 268
(1)   Table games win is shown before discounts, commissions and the
allocation of casino revenues to rooms, food and beverage and other
revenues for services provided to casino customers on a
complimentary basis.
(2) In Macau, table drop is the amount of cash that is deposited in a
gaming table's drop box plus cash chips purchased at the casino
cage. In Las Vegas, table drop is the amount of cash and net markers
issued that are deposited in a gaming table's drop box.
(3) Slot machine win is calculated as gross slot machine win minus
progressive accruals and free play.
(4) ADR is average daily rate and is calculated by dividing total room
revenues including complimentaries (less service charges, if any) by
total rooms occupied. The prior period amounts have been adjusted to
reflect the full retrospective adoption of ASC 606.
(5) REVPAR is revenue per available room and is calculated by dividing
total room revenues including complimentaries (less service charges,
if any) by total rooms available. The prior period amounts have been
adjusted to reflect the full retrospective adoption of ASC 606.

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