Representing the majority of total revenue, Wynn Resorts reported $544.4 million in Las Vegas, and $211.8 million in Encore Boston Harbour.
In Macau, revenue totaled US$75.2 million and US$40.4 million at Wynn Palace and Wynn Macau, respectively. Wynn noted that its casino operations at both properties were closed for a period of 12 days in July 2022 in response to a Covid-19 outbreak.
For the third quarter of 2022 – compared to the third quarter of 2021 – operating income increased $68.4 million and $19.6 million at the group’s Las Vegas and Port Encore Boston operations, respectively, and decreased by $19.6 million. $106.1 million and $90.3 million at Wynn Palace and Wynn Macau.
Wynn Resorts’ net loss was $142.9 million for this quarter, compared to a net loss of $166.2 million for the same period in 2021. Adjusted property EBITDA totaled $173.5 million, a 12% increase.
For Q3 2022, Adjusted Real Estate EBITDA increased $12.3 million and $85.8 million at Wynn’s Las Vegas and Wynn Interactive operations, and decreased $33.9 million, $41.9 million and $3.4 million at Wynn Palace, Wynn Macau, and Encore Boston Harbor, respectively.
“Our teams at Wynn Las Vegas and Encore Boston Harbor delivered a new adjusted EBITDA record at our combined North American properties,” said Wynn Resorts CEO Craig Billings.
“Their relentless focus on five-star hospitality, combined with our industry-leading facilities, continue to elevate our properties above our peers as the destinations of choice for luxury guests in both Las Vegas and Massachusetts.”
“In Macau, while travel restrictions related to Covid-19 continued to negatively impact our results, we were pleased to experience encouraging demand during the recent October holiday period. We remain confident that the market will benefit from the return of visits. over time”, added the CEO.