wynn-20220510
0001174922false00011749222022-05-102022-05-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 10, 2022
 
WYNN RESORTS, LIMITED
(Exact name of registrant as specified in its charter)
 
Nevada000-5002846-0484987
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
3131 Las Vegas Boulevard South
Las Vegas, Nevada89109
(Address of principal executive offices)(Zip Code)
                                
(702) 770-7555
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.01WYNNNasdaq Global Select Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 2.02Results of Operations and Financial Condition.
On May 10, 2022, Wynn Resorts, Limited issued a press release announcing its results of operations for the quarter ended March 31, 2022. The press release is furnished herewith as Exhibit 99.1. The information furnished under Items 2.02, 7.01 and 9.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 7.01Regulation FD Disclosure.
The information set forth under Item 2.02 of this report is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No.Description
99.1
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  WYNN RESORTS, LIMITED
Dated: May 10, 2022 By: /s/ Julie Cameron-Doe
 Julie Cameron-Doe
 Chief Financial Officer
 (Principal Financial and Accounting Officer)


Document

Exhibit 99.1
Wynn Resorts, Limited Reports First Quarter 2022 Results

LAS VEGAS, May 10, 2022 — Wynn Resorts, Limited (NASDAQ: WYNN) (the "Company") today reported financial results for the quarter ended March 31, 2022.

Operating revenues were $953.3 million for the first quarter of 2022, an increase of $216.7 million, from $736.7 million for the first quarter of 2021. Net loss attributable to Wynn Resorts, Limited was $183.3 million, or $1.59 per diluted share, for the first quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $281.0 million, or $2.53 per diluted share, in the first quarter of 2021. Adjusted Property EBITDA(1) was $177.6 million for the first quarter of 2022, compared to Adjusted Property EBITDA of $58.9 million in the first quarter of 2021.

"Our first quarter results reflect continued strength at both Wynn Las Vegas and Encore Boston Harbor where our teams' unrelenting focus on five star hospitality and world class experiences combined with very strong customer demand to deliver a new first quarter record for Adjusted Property EBITDA at both properties," said Craig Billings, CEO of Wynn Resorts, Limited. "In Macau, we remain confident that the market will benefit from the return of visitation when travel restrictions subside."

Consolidated Results

Operating revenues were $953.3 million for the first quarter of 2022, an increase of $216.7 million, from $736.7 million for the first quarter of 2021. For the first quarter of 2022, operating revenues increased $262.5 million and $60.7 million at our Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $74.0 million and $44.6 million at Wynn Palace and Wynn Macau, respectively, from the first quarter of 2021.

Net loss attributable to Wynn Resorts, Limited was $183.3 million, or $1.59 per diluted share, for the first quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $281.0 million, or $2.53 per diluted share, in the first quarter of 2021. Adjusted net loss attributable to Wynn Resorts, Limited(2) was $139.6 million, or $1.21 per diluted share, for the first quarter of 2022, compared to adjusted net loss attributable to Wynn Resorts, Limited of $268.0 million, or $2.41 per diluted share, for the first quarter of 2021.

Adjusted Property EBITDA was $177.6 million for the first quarter of 2022, compared to Adjusted Property EBITDA of $58.9 million in the first quarter of 2021. For the first quarter of 2022, Adjusted Property EBITDA increased $131.3 million and $24.9 million at our Las Vegas Operations and Encore Boston Harbor, respectively, and decreased $28.2 million and $21.2 million at Wynn Palace and Wynn Macau, respectively, from the first quarter of 2021.

Property Results

Macau Operations

The results of operations of our Macau Operations for the first quarter of 2022 continued to be negatively impacted by certain travel-related restrictions and conditions, including COVID-19 testing and other mitigation procedures, related to the COVID-19 pandemic.

Wynn Palace

Operating revenues from Wynn Palace were $163.3 million for the first quarter of 2022, a decrease of $74.0 million from $237.3 million for the first quarter of 2021. Adjusted Property EBITDA from Wynn Palace was $(0.9) million for the first quarter of 2022, compared to $27.4 million for the first quarter of 2021. VIP table games win as a percentage of turnover was 2.05%, below the property's expected range of 3.1% to 3.4% and below the 4.38% experienced in the first quarter of 2021. Table games win percentage in mass market operations was 20.9%, below the 21.7% experienced in the first quarter of 2021.
1


Wynn Macau

Operating revenues from Wynn Macau were $135.1 million for the first quarter of 2022, a decrease of $44.6 million from $179.7 million for the first quarter of 2021. Adjusted Property EBITDA was $(4.7) million for the first quarter of 2022, compared to $16.6 million for the first quarter of 2021. VIP table games win as a percentage of turnover was 3.84%, above the property's expected range of 3.1% to 3.4% and above the 3.25% experienced in the first quarter of 2021. Table games win percentage in mass market operations was 17.5%, slightly below the 17.8% experienced in the first quarter of 2021.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $441.2 million for the first quarter of 2022, an increase of $262.5 million from $178.7 million for the first quarter of 2021. Adjusted Property EBITDA from our Las Vegas Operations for the first quarter of 2022 was $159.4 million, compared to $28.1 million for the first quarter of 2021. Table games win percentage for the first quarter of 2022 was 23.6%, within the property's expected range of 22% to 26% and in line with the 23.6% experienced in the first quarter of 2021.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $190.8 million for the first quarter of 2022, an increase of $60.7 million from $130.1 million for the first quarter of 2021. Adjusted Property EBITDA from Encore Boston Harbor for the first quarter of 2022 was $55.3 million, compared to $30.4 million for the first quarter of 2021. Table games win percentage for the first quarter of 2022 was 22.2%, slightly above the property's expected range of 18% to 22% and above the 21.1% experienced in the first quarter of 2021.

Balance Sheet

Our cash and cash equivalents as of March 31, 2022 totaled $2.32 billion, comprised of approximately $1.29 billion held by Wynn Macau, Limited ("WML") and subsidiaries, approximately $388.5 million held by Wynn Resorts Finance excluding WML, and approximately $641.6 million at Corporate and other.

As of March 31, 2022, the available borrowing capacity under the Wynn Resorts Finance Revolver and WM Cayman II Revolver was $835.6 million and $211.9 million, respectively.

Total current and long-term debt outstanding at March 31, 2022 was $11.92 billion, comprised of $5.97 billion of Macau related debt, $3.13 billion of Wynn Las Vegas debt, $2.21 billion of Wynn Resorts Finance debt, and $613.0 million of debt held by the retail joint venture which we consolidate.

Conference Call and Other Information

The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on May 10, 2022 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 or before May 13, 2022, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended March 31, 2022 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, the COVID-19 pandemic, and the continued impact of its consequences, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions (including with respect to our ability to extend or renew our gaming concession in Macau, which expires on June 26, 2022, and proposed amendments to the Macau gaming law), 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
2


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, 2021 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, except as required by law.

Non-GAAP Financial Measures

(1) "Adjusted Property EBITDA" is net loss before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on extinguishment of debt, and other non-operating income and expenses. We use Adjusted Property EBITDA to manage the operating results of our segments. 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. We also present 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 us, have historically excluded from their EBITDA calculations preopening 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 our 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 loss, 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. We have 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, our 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 loss attributable to Wynn Resorts, Limited" is net loss attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other, change in derivatives fair value, loss on extinguishment of debt, and foreign currency remeasurement and other, net of noncontrolling interests. Adjusted net loss attributable to Wynn Resorts, Limited and adjusted net 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 loss and loss per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net loss attributable to Wynn Resorts, Limited and adjusted net 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.

The Company has included schedules in the tables that accompany this release that reconcile (i) net loss attributable to Wynn Resorts, Limited to adjusted net loss attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDA, and (iii) net loss attributable to Wynn Resorts, Limited to Adjusted Property EBITDA.

3


WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited) 

 Three Months Ended
March 31,
 20222021
Operating revenues:
Casino$489,862 $516,218 
Rooms170,376 76,190 
Food and beverage174,020 68,509 
Entertainment, retail and other119,076 75,765 
Total operating revenues953,334 736,682 
Operating expenses:
Casino324,079 351,966 
Rooms58,715 33,535 
Food and beverage146,656 73,948 
Entertainment, retail and other88,904 73,459 
General and administrative196,780 179,774 
  Provision for credit losses342 7,367
Pre-opening 2,447 1,627
Depreciation and amortization184,556 185,121
Property charges and other45,720 5,617
Total operating expenses1,048,199 912,414 
Operating loss(94,865)(175,732)
Other income (expense):
Interest income1,280 904 
Interest expense, net of amounts capitalized(152,158)(152,852)
Change in derivatives fair value7,400 4,409 
Loss on extinguishment of debt— (1,322)
Other(15,127)(11,093)
Other income (expense), net(158,605)(159,954)
Loss before income taxes(253,470)(335,686)
Provision for income taxes(1,140)(493)
Net loss (254,610)(336,179)
Less: net loss attributable to noncontrolling interests71,286 55,201 
Net loss attributable to Wynn Resorts, Limited$(183,324)$(280,978)
Basic and diluted net loss per common share:
Net loss attributable to Wynn Resorts, Limited:
Basic$(1.59)$(2.53)
Diluted$(1.59)$(2.53)
Weighted average common shares outstanding:
Basic115,030 111,020 
Diluted115,030 111,020 
4


WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED
TO ADJUSTED NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED
(in thousands, except per share data)
(unaudited)
 
 Three Months Ended
March 31,
 20222021
Net loss attributable to Wynn Resorts, Limited$(183,324)$(280,978)
Pre-opening expenses2,447 1,627 
Property charges and other45,720 5,617 
Change in derivatives fair value(7,400)(4,409)
Loss on extinguishment of debt— 1,322 
Foreign currency remeasurement and other 15,127 11,093 
Noncontrolling interests impact on adjustments(12,189)(2,268)
Adjusted net loss attributable to Wynn Resorts, Limited$(139,619)$(267,996)
Adjusted net loss attributable to Wynn Resorts, Limited per diluted share$(1.21)$(2.41)
Weighted average common shares outstanding - diluted115,030 111,020 




5


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

Three Months Ended March 31, 2022
Operating income (loss)Pre-opening expensesDepreciation and amortizationProperty charges and otherManagement and license feesCorporate expenses and otherStock-based compensationAdjusted Property EBITDA
Macau Operations:
   Wynn Palace$(59,501)$— $50,462 $138 $5,185 $1,543 $1,309 $(864)
   Wynn Macau(34,816)— 20,022 1,469 4,324 1,678 2,641 (4,682)
   Other Macau(3,947)— 977 — 2,418 551 — 
Total Macau Operations(98,264) 71,461 1,608 9,509 5,639 4,501 (5,546)
Las Vegas Operations82,930 1,397 45,602 1,322 21,027 5,414 1,686 159,378 
Encore Boston Harbor2,189 — 40,989 621 9,338 1,705 408 55,250 
Wynn Interactive(105,035)1,050 24,248 41,961 — 2,427 3,848 (31,501)
Corporate and other 23,315 — 2,256 208 (39,874)10,638 3,457 — 
Total$(94,865)$2,447 $184,556 $45,720 $ $25,823 $13,900 $177,581 



Three Months Ended March 31, 2021
Operating income (loss)Pre-opening expensesDepreciation and amortizationProperty charges and otherManagement and license feesCorporate expenses and otherStock-based compensationAdjusted Property EBITDA
Macau Operations:
   Wynn Palace$(54,788)$414 $67,010 $2,174 $8,178 $1,178 $3,203 $27,369 
   Wynn Macau(16,952)— 21,464 247 5,855 1,364 4,578 16,556 
   Other Macau(3,270)— 1,108 15 — 1,543 604 — 
Total Macau Operations(75,010)414 89,582 2,436 14,033 4,085 8,385 43,925 
Las Vegas Operations(40,006)511 48,103 2,427 8,608 5,414 3,024 28,081 
Encore Boston Harbor(18,633)— 39,113 742 6,237 2,282 622 30,363 
Wynn Interactive(54,758)702 6,071 — — 391 4,125 (43,469)
Corporate and other
12,675 — 2,252 12 (28,878)5,749 8,190 — 
Total$(175,732)$1,627 $185,121 $5,617 $ $17,921 $24,346 $58,900 

6


WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO
ADJUSTED PROPERTY EBITDA
(in thousands)
(unaudited)

 Three Months Ended
March 31,
 20222021
Net loss attributable to Wynn Resorts, Limited$(183,324)$(280,978)
Net loss attributable to noncontrolling interests(71,286)(55,201)
Pre-opening expenses2,447 1,627 
Depreciation and amortization184,556 185,121 
Property charges and other45,720 5,617 
Corporate expenses and other25,823 17,921 
Stock-based compensation13,900 24,346 
Interest income(1,280)(904)
Interest expense, net of amounts capitalized152,158 152,852 
Change in derivatives fair value(7,400)(4,409)
Loss on extinguishment of debt— 1,322 
Other 15,127 11,093 
Provision for income taxes1,140 493 
Adjusted Property EBITDA$177,581 $58,900 

7


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,
 20222021Percent Change
Wynn Palace Supplemental Information
Operating revenues
Casino$114,413$185,909(38.5)
Rooms13,83117,012(18.7)
Food and beverage11,44311,672(2.0)
Entertainment, retail and other23,63822,7334.0 
Total$163,325$237,326(31.2)
Adjusted Property EBITDA (6)
$(864)$27,369NM
Casino Statistics:
VIP:
Average number of table games67103(35.0)
VIP turnover$965,555$2,200,182(56.1)
VIP table games win (1)
$19,753$96,456(79.5)
VIP table games win as a % of turnover2.05 %4.38 %
Table games win per unit per day$3,280$10,375(68.4)
Mass market:
Average number of table games2342225.4 
Table drop (2)
$531,859$607,518(12.5)
Table games win (1)
$111,175$131,649(15.6)
Table games win %20.9 %21.7 %
Table games win per unit per day$5,282$6,596(19.9)
Average number of slot machines670687(2.5)
Slot machine handle$250,930$358,772(30.1)
Slot machine win (3)
$12,649$14,243(11.2)
Slot machine win per unit per day$210$230(8.7)
Room statistics:
Occupancy47.2%60.4%
ADR (4)
$180$1781.1 
REVPAR (5)
$85$108(21.3)
NM - Not meaningful.
Note: The results of operations of Wynn Palace for the three months ended March 31, 2022 and 2021 were negatively impacted by certain travel-related restrictions and conditions, including COVID-19 testing and other mitigation procedures, related to the COVID-19 pandemic.








8


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,
20222021Percent Change
Wynn Macau Supplemental Information
Operating revenues
Casino$102,430$138,927(26.3)
Rooms9,39014,702(36.1)
Food and beverage8,3867,43312.8 
Entertainment, retail and other14,89418,589(19.9)
Total$135,100$179,651(24.8)
Adjusted Property EBITDA (6)
$(4,682)$16,556NM
Casino Statistics:
VIP:
Average number of table games3590(61.1)
VIP turnover$887,051$1,804,382(50.8)
VIP table games win (1)
$34,029$58,635(42.0)
VIP table games win as a % of turnover3.84 %3.25 %
Table games win per unit per day $10,823$7,23949.5 
Mass market:
Average number of table games2482403.3 
Table drop (2)
$469,138$590,890(20.6)
Table games win (1)
$82,259$105,183(21.8)
Table games win %17.5 %17.8 %
Table games win per unit per day $3,680$4,871(24.5)
Average number of slot machines5855692.8 
Slot machine handle$283,539$301,271(5.9)
Slot machine win (3)
$10,611$10,2083.9 
Slot machine win per unit per day $201$1991.0 
Room statistics:
Occupancy49.8%60.8%
ADR (4)
$188$242(22.3)
REVPAR (5)
$94$147(36.1)
NM - Not meaningful.
Note: The results of operations of Wynn Macau for the three months ended March 31, 2022 and 2021 were negatively impacted by certain travel-related restrictions and conditions, including COVID-19 testing and other mitigation procedures, related to the COVID-19 pandemic.



9


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,
 20222021Percent Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino$124,271$79,90355.5 
Rooms131,46639,761230.6 
Food and beverage136,02940,077239.4 
Entertainment, retail and other49,42018,975160.4 
Total$441,186$178,716146.9 
Adjusted Property EBITDA (6)
$159,378$28,081467.6 
Casino Statistics:
Average number of table games22817232.6 
Table drop (2)
$547,916$324,53168.8 
Table games win (1)
$129,164$76,65368.5 
Table games win %23.6%23.6%
Table games win per unit per day$6,300 $4,95727.1 
Average number of slot machines1,7281,54711.7 
Slot machine handle$1,177,985$791,26048.9 
Slot machine win (3)
$80,831$50,48960.1 
Slot machine win per unit per day$520$36343.3 
Poker rake$3,861$1,867106.8 
Room statistics:
Occupancy76.9%35.3%
ADR (4)
$432$33130.5 
REVPAR (5)
$333$117184.6 
Note: The results of our Las Vegas Operations for the three months ended March 31, 2021 were impacted by certain COVID-19 pandemic related protective measures and operating schedule modifications.









10


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,
20222021Percent Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino$148,748$111,47933.4 
Rooms15,6894,715232.7 
Food and beverage18,1629,32794.7 
Entertainment, retail and other8,1974,56979.4 
Total$190,796$130,09046.7 
Adjusted Property EBITDA (6)
$55,250$30,36382.0 
Casino Statistics:
Average number of table games184199(7.5)
Table drop (2)
$346,195$234,56247.6 
Table games win (1)
$76,792$49,37755.5 
Table games win %22.2%21.1%
Table games win per unit per day$4,637$2,75268.5 
Average number of slot machines2,7761,88947.0 
Slot machine handle$1,183,314$913,79529.5 
Slot machine win (3)
$95,296$74,82027.4 
Slot machine win per unit per day$381$440(13.4)
Poker rake$784$— 
Room statistics:
Occupancy80.5%71.0%
ADR (4)
$324$27617.4 
REVPAR (5)
$261$19633.2 
Note: The results of Encore Boston Harbor for the three months ended March 31, 2021 were impacted by certain COVID-19 pandemic related protective measures and operating schedule modifications. Encore Boston Harbor's room statistics have been computed based on 36 days of operations for the three months ended March 31, 2021, representing the actual number of days the hotel was open.

(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. At Encore Boston Harbor, table drop is the amount of cash and gross markers 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.
(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.
(6) Refer to accompanying reconciliations of Operating Income (Loss) to Adjusted Property EBITDA and Net Loss Attributable to Wynn Resorts, Limited to Adjusted Property EBITDA.







11


SOURCE:
Wynn Resorts, Limited
CONTACT:
Vincent Zahn
702-770-7555
investorrelations@wynnresorts.com

12