Business Wire | Aug 4, 2021 04:02PM EDT

Wynn Resorts, Limited Reports Second Quarter 2021 Results

Aug. 04, 2021

LAS VEGAS--(BUSINESS WIRE)--Aug. 04, 2021--Wynn Resorts, Limited (NASDAQ: WYNN) (the "Company") today reported financial results for the quarter ended June 30, 2021.

Operating revenues were $990.1 million for the second quarter of 2021, an increase of $904.4 million, from $85.7 million for the second quarter of 2020. Net loss attributable to Wynn Resorts, Limited was $131.4 million, or $1.15 per diluted share, for the second quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $637.6 million, or $5.97 per diluted share, in the second quarter of 2020. Net loss attributable to Wynn Resorts, Limited for the second quarter of 2020 excluded the impact of $75.7 million of expense related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020, which we accrued during the first quarter of 2020. Adjusted Property EBITDA (1) at our integrated resort properties increased $164.5 million, $96.7 million, $208.8 million, and $100.7 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, when compared with the second quarter of 2020.

"We were pleased to see the strong return of our guests at both Wynn Las Vegas and Encore Boston Harbor during the second quarter with Adjusted Property EBITDA at our U.S. operations well above pre-pandemic levels, highlighting the significant pent-up demand for travel and leisure experiences," said Matt Maddox, CEO of Wynn Resorts, Limited. "While there have been some fits and starts along the road to recovery in Macau, we were encouraged by the strong demand we experienced during the May holiday period, particularly in our premium mass casino and luxury retail segments. On the development front, our WynnBET online casino and sports betting app is currently available in six states with additional launches planned over the coming months. We continue to enhance our product with frequent new feature releases and are advancing our marketing and branding strategy as we approach the upcoming NFL 2021 season."

Consolidated Results

Operating revenues were $990.1 million for the second quarter of 2021, an increase of $904.4 million, from $85.7 million for the second quarter of 2020. Operating revenues increased $261.7 million, $172.1 million, $290.2 million, and $165.0 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, from the second quarter of 2020.

On a U.S. generally accepted accounting principles ("GAAP") basis, net loss attributable to Wynn Resorts, Limited was $131.4 million, or $1.15 per diluted share, for the second quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $637.6 million, or $5.97 per diluted share, in the second quarter of 2020. Adjusted net loss attributable to Wynn Resorts, Limited (2) was $128.7 million, or $1.12 per diluted share, for the second quarter of 2021, compared to adjusted net loss attributable to Wynn Resorts, Limited of $655.7 million, or $6.14 per diluted share, for the second quarter of 2020.

Adjusted Property EBITDA was $206.9 million for the second quarter of 2021. Adjusted Property EBITDA was $(322.9) million for the second quarter of 2020, which excluded the impact of $75.7 million of expense related to our commitment to pay salary, tips and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020, which was accrued during the first quarter of 2020.

Property Results

In response to the initial outbreak of COVID-19 in early 2020, each of our properties was subject to partial or full closure for varying lengths of time during 2020, and each has since reopened with certain COVID-19 specific protective measures in place. On August 3, 2021, in response to a risk of a community outbreak, the government of Macau has announced enhanced measures including tighter border control and strict mandatory COVID-19 testing requirements. We are currently unable to determine when and what additional measures may be introduced. On May 3, 2021, the Company's Las Vegas Operations were permitted by the Nevada Gaming Control Board to reopen all gaming areas to 100% of capacity, with no continuing table game or slot machine spacing restrictions. On July 27, 2021, the Governor of Nevada issued an emergency directive, in accordance with new recommendations from the Centers for Disease Control, re-imposing mask protection requirements in all public indoor areas effective July 30, 2021. On April 27, 2021, the Governor of Massachusetts announced a phased plan for further reopening and on May 28, 2021 signed an executive order rescinding the COVID-related restrictions and limitations on businesses as of May 29, 2021. The Encore Boston Harbor property continues to operate its hotel tower Thursday through Sunday.

Macau Operations

Wynn Palace

Operating revenues from Wynn Palace were $270.4 million for the second quarter of 2021, an increase of $261.7 million from $8.7 million for the second quarter of 2020. Adjusted Property EBITDA from Wynn Palace was $53.6 million for the second quarter of 2021, compared with $(110.9) million for the second quarter of 2020. VIP table games win as a percentage of turnover was 3.95%, above the property's expected range of 2.7% to 3.0% and above the (1.73)% experienced in the second quarter of 2020. Table games win percentage in mass market operations was 23.1%, below the 32.5% experienced in the second quarter of 2020.

Wynn Macau

Operating revenues from Wynn Macau were $184.0 million for the second quarter of 2021, an increase of $172.1 million from $11.9 million for the second quarter of 2020. Adjusted Property EBITDA was $14.1 million for the second quarter of 2021, compared with $(82.6) million for the second quarter of 2020. VIP table games win as a percentage of turnover was 2.64%, below the property's expected range of 2.7% to 3.0% and above the (2.00)% experienced in the second quarter of 2020. Table games win percentage in mass market operations was 19.2%, above the 8.3% experienced in the second quarter of 2020.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $355.1 million for the second quarter of 2021, an increase of $290.2 million from $64.9 million for the second quarter of 2020. Adjusted Property EBITDA from our Las Vegas Operations for the second quarter of 2021 was $133.2 million. Adjusted Property EBITDA from our Las Vegas Operations for the second quarter of 2020 was $(75.6) million, which excluded the impact of $56.4 million of expense related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020, which we accrued within operating expenses during the first quarter of 2020. Table games win percentage for the second quarter of 2021 was 23.2%, within the property's expected range of 22% to 26% and above the 19.7% experienced in the second quarter of 2020.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $165.2 million for the second quarter of 2021. Adjusted Property EBITDA from Encore Boston Harbor for the second quarter of 2021 was $46.9 million. Adjusted Property EBITDA from Encore Boston Harbor for the second quarter of 2020 was $(53.8) million, which excluded the impact of $19.3 million of expense related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020, which we accrued within operating expenses during the first quarter of 2020. Table games win percentage for the second quarter of 2021 was 21.2%, within the property's expected range of 18% to 22%.

Balance Sheet

Our cash and cash equivalents as of June 30, 2021 totaled $2.80 billion, comprised of approximately $1.72 billion held by Wynn Macau, Limited ("WML") and subsidiaries, approximately $272.3 million held by Wynn Resorts Finance excluding WML, and approximately $808.2 million at Corporate and other.

As of June 30, 2021, the available borrowing capacity under the Wynn Resorts Finance Revolver and Wynn Macau Revolver was $834.2 million and $293.2 million, respectively.

Total current and long-term debt outstanding at June 30, 2021 was $11.92 billion, comprised of $5.94 billion of Macau related debt, $3.13 billion of Wynn Las Vegas debt, $2.24 billion of Wynn Resorts Finance debt, and $612.6 million of debt held by the retail joint venture which we consolidate.

In August 2021, a subsidiary of WML received lender commitments for a senior unsecured revolving credit facility in an aggregate principal amount of up to $1.50 billion with a final maturity four years from inception. The Company expects to enter into the facility during the third quarter of 2021, and to use a portion of the proceeds from borrowings under the new facility to facilitate the repayment of the outstanding $1.26 billion of borrowings under the existing Wynn Macau Credit Facilities at closing.

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 August 4, 2021 at 1:15 p.m. PT (4:15 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 August 13, 2021, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended June 30, 2021 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 recent global pandemic of COVID-19, caused by a novel strain of the coronavirus, and the continued impact of its consequences, extensive regulation of our business, pending or future 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, 2020 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. 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 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. 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 and income taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. 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 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 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.

WYNN RESORTS, LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

Three Months Ended June Six Months Ended June 30, 30,

2021 2020 2021 2020

Operating revenues:

Casino $ 602,746 $ 9,413 $ 1,118,964 $ 580,202

Rooms 137,765 17,415 213,955 170,096

Food and beverage 149,142 24,007 217,651 173,421

Entertainment, 100,460 34,863 176,225 115,695 retail and other

Total operating 990,113 85,698 1,726,795 1,039,414 revenues

Operating expenses:

Casino 381,615 131,138 733,581 573,828

Rooms 50,552 30,367 84,087 103,847

Food and beverage 117,106 61,889 191,054 237,799

Entertainment, 80,922 16,873 154,381 62,453 retail and other

General and 197,545 152,081 377,319 386,409 administrative

Provision for credit 441 28,347 7,808 48,960 losses

Pre-opening 2,495 2,186 4,122 4,737

Depreciation and 183,307 179,266 368,428 358,012 amortization

Property charges and 5,651 6,567 11,268 33,796 other

Total operating 1,019,634 608,714 1,932,048 1,809,841 expenses

Operating loss (29,521 ) (523,016 ) (205,253 ) (770,427 )

Other income (expense):

Interest income 720 3,983 1,624 11,936

Interest expense,net of amounts (150,424 ) (133,218 ) (303,276 ) (262,045 )capitalized

Change inderivatives fair 972 (3,294 ) 5,381 (18,954 )value

Loss onextinguishment of - (619 ) (1,322 ) (1,462 )debt

Other 5,553 2,233 (5,540 ) 12,568

Other income (143,179 ) (130,915 ) (303,133 ) (257,957 )(expense), net

Loss before income (172,700 ) (653,931 ) (508,386 ) (1,028,384 )taxes

Provision for income (697 ) (80,938 ) (1,190 ) (156,738 )taxes

Net loss (173,397 ) (734,869 ) (509,576 ) (1,185,122 )

Less: net lossattributable to 42,028 97,305 97,229 145,521 noncontrollinginterests

Net lossattributable to Wynn $ (131,369 ) $ (637,564 ) $ (412,347 ) $ (1,039,601 )Resorts, Limited

Basic and dilutednet loss per common share:

Net loss attributable to Wynn Resorts, Limited:

Basic $ (1.15 ) $ (5.97 ) $ (3.66 ) $ (9.74 )

Diluted $ (1.15 ) $ (5.97 ) $ (3.66 ) $ (9.74 )

Weighted averagecommon shares outstanding:

Basic 114,545 106,713 112,792 106,688

Diluted 114,545 106,713 112,792 106,688

Dividends declared $ - $ - $ - $ 1.00 per common share:

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 June 30,

Six Months Ended June 30,

2021

2020

2021

2020

Net loss attributable to Wynn Resorts, Limited (1)

$

(131,369

)

$

(637,564

)

$

(412,347

)

$

(1,039,601

)

Litigation settlement net gain

-

(27,700

)

-

(27,700

)

Pre-opening expenses

2,495

2,186

4,122

4,737

Property charges and other

5,651

6,567

11,268

33,796

Change in derivatives fair value

(972

)

3,294

(5,381

)

18,954

Loss on extinguishment of debt

-

619

1,322

1,462

Foreign currency remeasurement (gain) loss

(5,553

)

(2,233

)

5,540

(12,568

)

Income tax impact on adjustments

(72

)

768

(72

)

832

Noncontrolling interests impact on adjustments

1,090

(1,603

)

(1,178

)

(13,498

)

Adjusted net loss attributable to Wynn Resorts, Limited

$

(128,730

)

$

(655,666

)

$

(396,726

)

$

(1,033,586

)

Adjusted net loss attributable to Wynn Resorts, Limited per diluted share

$

(1.12

)

$

(6.14

)

$

(3.52

)

$

(9.69

)

Weighted average common shares outstanding - diluted

114,545

106,713

112,792

106,688

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 June 30, Six Months Ended June 30,

2021 2020 2021 2020

Net lossattributable to $ (131,369 ) $ (637,564 ) $ (412,347 ) $ (1,039,601 )Wynn Resorts,Limited (1)

Litigationsettlement net - (27,700 ) - (27,700 )gain

Pre-opening 2,495 2,186 4,122 4,737 expenses

Property charges 5,651 6,567 11,268 33,796 and other

Change inderivatives fair (972 ) 3,294 (5,381 ) 18,954 value

Loss onextinguishment of - 619 1,322 1,462 debt

Foreign currencyremeasurement (5,553 ) (2,233 ) 5,540 (12,568 )(gain) loss

Income tax impact (72 ) 768 (72 ) 832 on adjustments

Noncontrollinginterests impact 1,090 (1,603 ) (1,178 ) (13,498 )on adjustments

Adjusted net lossattributable to $ (128,730 ) $ (655,666 ) $ (396,726 ) $ (1,033,586 )Wynn Resorts,Limited

Adjusted net lossattributable toWynn Resorts, $ (1.12 ) $ (6.14 ) $ (3.52 ) $ (9.69 )Limited perdiluted share



Weighted averagecommon shares 114,545 106,713 112,792 106,688 outstanding -diluted

(1)

For the three months ended June 30, 2020, excludes $75.7 million of expense accrued during the first quarter of 2020 related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020.

For the three months ended June 30, 2020, excludes $75.7 million of(1) expense accrued during the first quarter of 2020 related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020.

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

Three Months Ended June 30, 2021

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

$

(26,231

)

$

422

$

66,062

$

980

$

8,648

$

1,177

$

2,497

$

53,555

Wynn Macau

(20,334

)

-

20,782

1,945

5,999

1,266

4,428

14,086

Other Macau

(3,052

)

-

1,095

2

-

1,410

545

-

Total Macau Operations

(49,617

)

422

87,939

2,927

14,647

3,853

7,470

67,641

Las Vegas Operations

54,985

1,932

48,078

2,724

16,907

5,635

2,961

133,222

Encore Boston Harbor

(3,620

)

28

39,155

479

7,997

2,258

619

46,916

Corporate and other

(31,269

)

113

8,135

(479

)

(39,551

)

8,095

14,057

(40,899

)

Total

$

(29,521

)

$

2,495

$

183,307

$

5,651

$

-

$

19,841

$

25,107

$

206,880

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

Three Months Ended June 30, 2021

Operating Depreciation Property Management Corporate Adjusted Pre-opening Stock-based income and charges and license expenses Property expenses and and compensation loss) amortization fees EBITDA other other

Macau Operations:

Wynn Palace $ (26,231 ) $ 422 $ 66,062 $ 980 $ 8,648 $ 1,177 $ 2,497 $ 53,555

Wynn Macau (20,334 ) - 20,782 1,945 5,999 1,266 4,428 14,086

Other Macau (3,052 ) - 1,095 2 - 1,410 545 -

Total Macau (49,617 ) 422 87,939 2,927 14,647 3,853 7,470 67,641 Operations

Las Vegas 54,985 1,932 48,078 2,724 16,907 5,635 2,961 133,222 Operations

Encore Boston (3,620 ) 28 39,155 479 7,997 2,258 619 46,916 Harbor

Corporate and (31,269 ) 113 8,135 (479 ) (39,551 ) 8,095 14,057 (40,899 )other

Total $ (29,521 ) $ 2,495 $ 183,307 $ 5,651 $ - $ 19,841 $ 25,107 $ 206,880

Three Months Ended June 30, 2020

Operating

income

(loss) (1)

Pre-opening

expenses

Depreciation

and

amortization

Property

charges and

other

Management

and license

fees

Corporate

expenses and

other (2)

Stock-based

compensation

Adjusted

Property

EBITDA

Macau Operations:

Wynn Palace

$

(185,342

)

$

615

$

67,222

$

993

$

2,250

$

1,360

$

1,994

$

(110,908

)

Wynn Macau

(114,156

)

-

23,007

480

2,250

1,485

4,288

(82,646

)

Other Macau

(2,870

)

-

1,108

3

-

1,364

395

-

Total Macau Operations

(302,368

)

615

91,337

1,476

4,500

4,209

6,677

(193,554

)

Las Vegas Operations

(136,790

)

1,037

48,395

(304

)

2,850

6,945

2,303

(75,564

)

Encore Boston Harbor

(99,430

)

-

36,894

3,617

9

4,233

898

(53,779

)

Corporate and other

15,572

534

2,640

1,778

(7,359

)

(24,371

)

11,206

-

Total

$

(523,016

)

$

2,186

$

179,266

$

6,567

$

-

$

(8,984

)

$

21,084

$

(322,897

)

Three Months Ended June 30, 2020

Operating Depreciation Property Management Corporate Adjusted Pre-opening Stock-based income and charges and license expenses Property expenses and and compensation (loss) (1) amortization fees EBITDA other other (2)

Macau Operations:

Wynn Palace $ (185,342 ) $ 615 $ 67,222 $ 993 $ 2,250 $ 1,360 $ 1,994 $ (110,908 )

Wynn Macau (114,156 ) - 23,007 480 2,250 1,485 4,288 (82,646 )

Other Macau (2,870 ) - 1,108 3 - 1,364 395 -

Total Macau (302,368 ) 615 91,337 1,476 4,500 4,209 6,677 (193,554 )Operations

Las Vegas (136,790 ) 1,037 48,395 (304 ) 2,850 6,945 2,303 (75,564 )Operations

Encore Boston (99,430 ) - 36,894 3,617 9 4,233 898 (53,779 )Harbor

Corporate and 15,572 534 2,640 1,778 (7,359 ) (24,371 ) 11,206 - other[ ]

Total $ (523,016 ) $ 2,186 $ 179,266 $ 6,567 $ - $ (8,984 ) $ 21,084 $ (322,897 )

(1)

Excludes $56.4 million and $19.3 million of expense accrued during the first quarter of 2020 related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020, for our Las Vegas Operations and Encore Boston Harbor, respectively.

(2)

Corporate and other includes a $27.7 million net gain recorded in relation to a derivative litigation settlement.

Excludes $56.4 million and $19.3 million of expense accrued during the first quarter of 2020 related to our commitment to pay salary, tips, and(1) benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020, for our Las Vegas Operations and Encore Boston Harbor, respectively.

(2) Corporate and other includes a $27.7 million net gain recorded in relation to a derivative litigation settlement.

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in thousands) (unaudited)

(continued)

Six Months Ended June 30, 2021

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

$

(81,019

)

$

836

$

133,072

$

3,154

$

16,826

$

2,355

$

5,700

$

80,924

Wynn Macau

(37,286

)

-

42,246

2,192

11,854

2,630

9,006

30,642

Other Macau

(6,322

)

-

2,203

17

-

2,953

1,149

-

Total Macau Operations

(124,627

)

836

177,521

5,363

28,680

7,938

15,855

111,566

Las Vegas Operations

14,979

2,443

96,181

5,151

25,515

11,049

5,985

161,303

Encore Boston Harbor

(22,253

)

28

78,268

1,221

14,234

4,540

1,241

77,279

Corporate and other

(73,352

)

815

16,458

(467

)

(68,429

)

14,235

26,372

(84,368

)

Total

$

(205,253

)

$

4,122

$

368,428

$

11,268

$

-

$

37,762

$

49,453

$

265,780

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in thousands) (unaudited)

(continued)

Six Months Ended June 30, 2021

Operating Depreciation Property Management Corporate Adjusted Pre-opening Stock-based income and charges and expenses Property expenses and license and compensation (loss) amortization EBITDA other fees other

Macau Operations:

Wynn Palace $ (81,019 ) $ 836 $ 133,072 $ 3,154 $ 16,826 $ 2,355 $ 5,700 $ 80,924

Wynn Macau (37,286 ) - 42,246 2,192 11,854 2,630 9,006 30,642

Other Macau (6,322 ) - 2,203 17 - 2,953 1,149 -

Total Macau (124,627 ) 836 177,521 5,363 28,680 7,938 15,855 111,566 Operations

Las Vegas 14,979 2,443 96,181 5,151 25,515 11,049 5,985 161,303 Operations

Encore Boston (22,253 ) 28 78,268 1,221 14,234 4,540 1,241 77,279 Harbor

Corporate and (73,352 ) 815 16,458 (467 ) (68,429 ) 14,235 26,372 (84,368 )other

Total $ (205,253 ) $ 4,122 $ 368,428 $ 11,268 $ - $ 37,762 $ 49,453 $ 265,780

Six Months Ended June 30, 2020

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

$

(277,004

)

$

615

$

134,231

$

23,292

$

11,675

$

2,931

$

3,528

$

(100,732

)

Wynn Macau

(130,239

)

-

46,884

2,334

10,413

3,280

3,890

(63,438

)

Other Macau

(6,387

)

-

2,226

3

-

3,393

765

-

Total Macau Operations

(413,630

)

615

183,341

25,629

22,088

9,604

8,183

(164,170

)

Las Vegas Operations

(230,227

)

2,176

95,640

(191

)

18,055

13,234

3,672

(97,641

)

Encore Boston Harbor

(160,048

)

-

73,768

3,865

6,958

7,365

1,677

(66,415

)

Corporate and other

33,478

1,946

5,263

4,493

(47,101

)

(14,995

)

16,916

-

Total

$

(770,427

)

$

4,737

$

358,012

$

33,796

$

-

$

15,208

$

30,448

$

(328,226

)

Six Months Ended June 30, 2020

Operating Depreciation Property Management Corporate Adjusted Pre-opening Stock-based income and charges and expenses Property expenses and license and compensation (loss) amortization EBITDA other fees other (1)

Macau Operations:

Wynn Palace $ (277,004 ) $ 615 $ 134,231 $ 23,292 $ 11,675 $ 2,931 $ 3,528 $ (100,732 )

Wynn Macau (130,239 ) - 46,884 2,334 10,413 3,280 3,890 (63,438 )

Other Macau (6,387 ) - 2,226 3 - 3,393 765 -

Total Macau (413,630 ) 615 183,341 25,629 22,088 9,604 8,183 (164,170 )Operations

Las Vegas (230,227 ) 2,176 95,640 (191 ) 18,055 13,234 3,672 (97,641 )Operations

Encore Boston (160,048 ) - 73,768 3,865 6,958 7,365 1,677 (66,415 )Harbor

Corporate and 33,478 1,946 5,263 4,493 (47,101 ) (14,995 ) 16,916 - other[ ]

Total $ (770,427 ) $ 4,737 $ 358,012 $ 33,796 $ - $ 15,208 $ 30,448 $ (328,226 )

(1)

Corporate and other includes a $27.7 million net gain recorded in relation to a derivative litigation settlement.

(1) Corporate and other includes a $27.7 million net gain recorded in relation to a derivative litigation settlement.

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO

ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

2021

2020

2021

2020

Net loss attributable to Wynn Resorts, Limited (1)

$

(131,369

)

$

(637,564

)

$

(412,347

)

$

(1,039,601

)

Net loss attributable to noncontrolling interests

(42,028

)

(97,305

)

(97,229

)

(145,521

)

Pre-opening expenses

2,495

2,186

4,122

4,737

Depreciation and amortization

183,307

179,266

368,428

358,012

Property charges and other

5,651

6,567

11,268

33,796

Corporate expenses and other

19,841

(8,984

)

37,762

15,208

Stock-based compensation

25,107

21,084

49,453

30,448

Interest income

(720

)

(3,983

)

(1,624

)

(11,936

)

Interest expense, net of amounts capitalized

150,424

133,218

303,276

262,045

Change in derivatives fair value

(972

)

3,294

(5,381

)

18,954

Loss on extinguishment of debt

-

619

1,322

1,462

Other

(5,553

)

(2,233

)

5,540

(12,568

)

Provision for income taxes

697

80,938

1,190

156,738

Adjusted Property EBITDA

$

206,880

$

(322,897

)

$

265,780

$

(328,226

)

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO

ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

Three Months Ended June 30, Six Months Ended June 30,

2021 2020 2021 2020

Net lossattributable to $ (131,369 ) $ (637,564 ) $ (412,347 ) $ (1,039,601 )Wynn Resorts,Limited (1)

Net lossattributable to (42,028 ) (97,305 ) (97,229 ) (145,521 )noncontrollinginterests

Pre-opening 2,495 2,186 4,122 4,737 expenses

Depreciation and 183,307 179,266 368,428 358,012 amortization

Property charges 5,651 6,567 11,268 33,796 and other

Corporateexpenses and 19,841 (8,984 ) 37,762 15,208 other

Stock-based 25,107 21,084 49,453 30,448 compensation

Interest income (720 ) (3,983 ) (1,624 ) (11,936 )

Interest expense,net of amounts 150,424 133,218 303,276 262,045 capitalized

Change inderivatives fair (972 ) 3,294 (5,381 ) 18,954 value

Loss onextinguishment of - 619 1,322 1,462 debt

Other (5,553 ) (2,233 ) 5,540 (12,568 )

Provision for 697 80,938 1,190 156,738 income taxes

Adjusted Property $ 206,880 $ (322,897 ) $ 265,780 $ (328,226 )EBITDA

(1)

For the three months ended June 30, 2020, excludes $75.7 million of expense accrued during the first quarter of 2020 related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020.

For the three months ended June 30, 2020, excludes $75.7 million of(1) expense accrued during the first quarter of 2020 related to our commitment to pay salary, tips, and benefits continuation for all of our U.S. employees for the period from April 1 through May 15, 2020.

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,

2021

2020

Percent

Change

2021

2020

Percent

Change

Wynn Palace Supplemental Information

Operating revenues

Casino

$

212,067

$

(11,428

)

NM

$

397,976

$

196,148

102.9

Rooms

20,883

2,431

759.0

37,895

22,141

71.2

Food and beverage

13,805

4,231

226.3

25,477

17,529

45.3

Entertainment, retail and other

23,616

13,484

75.1

46,349

32,413

43.0

Total

$

270,371

$

8,718

3,001.3

$

507,697

$

268,231

89.3

Adjusted Property EBITDA (6)

$

53,555

$

(110,908

)

NM

$

80,924

$

(100,732

)

NM

Casino Statistics:

VIP:

Average number of table games

94

100

(6.0

)

99

95

4.2

VIP turnover

$

1,811,381

$

1,719,825

5.3

$

4,011,563

$

6,512,279

(38.4

)

VIP table games win (1)

$

71,570

$

(29,806

)

NM

$

168,026

$

109,763

53.1

VIP table games win as a % of turnover

3.95

%

(1.73

)%

4.19

%

1.69

%

Table games win per unit per day

$

8,346

$

(3,276

)

NM

$

9,402

$

6,865

37.0

Mass market:

Average number of table games

228

221

3.2

225

201

11.9

Table drop (2)

$

707,494

$

22,029

3,111.6

$

1,315,012

$

497,252

164.5

Table games win (1)

$

163,547

$

7,168

2,181.6

$

295,196

$

137,882

114.1

Table games win %23.1

%

32.5

%

22.4

%

27.7

%

Table games win per unit per day

$

7,877

$

357

2,106.4

$

7,249

$

4,075

77.9

Average number of slot machines

726

480

51.3

707

596

18.6

Slot machine handle

$

421,269

$

39,415

968.8

$

780,041

$

464,129

68.1

Slot machine win (3)

$

18,772

$

2,395

683.8

$

33,015

$

20,800

58.7

Slot machine win per unit per day

$

284

$

55

416.4

$

258

$

208

24.0

Room statistics:

Occupancy

70.6

%

4.4

%

65.6

%

23.5

%

ADR (4)

$

180

$

339

(46.9

)

$

179

$

298

(39.9

)

REVPAR (5)

$

127

$

15

746.7

$

118

$

70

68.6

Note: Our casino operations in Macau were closed for a 15-day period in February 2020 and resumed operations on a reduced basis on February 20, 2020. Our casinos' operations have since been fully restored; however, certain COVID-19 specific protective measures, such as limiting the number of seats per table game, increasing the spacing between active slot machines and visitor entry checks and requirements involving temperature checkpoints, mask wearing, health declarations and proof of negative COVID-19 test results for travelers seeking entry to Macau remain in effect at the present time. We are currently unable to determine when these measures will be lifted.

NM - Not meaningful.

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,

Percent Percent 2021 2020 2021 2020 Change Change

Wynn PalaceSupplemental Information

Operating revenues

Casino $ 212,067 $ (11,428 ) NM $ 397,976 $ 196,148 102.9

Rooms 20,883 2,431 759.0 37,895 22,141 71.2

Food and 13,805 4,231 226.3 25,477 17,529 45.3 beverage

Entertainment,retail and 23,616 13,484 75.1 46,349 32,413 43.0 other

Total $ 270,371 $ 8,718 3,001.3 $ 507,697 $ 268,231 89.3



AdjustedProperty $ 53,555 $ (110,908 ) NM $ 80,924 $ (100,732 ) NM EBITDA (6)



Casino Statistics:

VIP:

Average number 94 100 (6.0 ) 99 95 4.2 of table games

VIP turnover $ 1,811,381 $ 1,719,825 5.3 $ 4,011,563 $ 6,512,279 (38.4 )

VIP table $ 71,570 $ (29,806 ) NM $ 168,026 $ 109,763 53.1 games win (1)

VIP table )games win as a 3.95 % (1.73 % 4.19 % 1.69 %% of turnover

Table gameswin per unit $ 8,346 $ (3,276 ) NM $ 9,402 $ 6,865 37.0 per day

Mass market:

Average number 228 221 3.2 225 201 11.9 of table games

Table drop (2) $ 707,494 $ 22,029 3,111.6 $ 1,315,012 $ 497,252 164.5

Table games $ 163,547 $ 7,168 2,181.6 $ 295,196 $ 137,882 114.1 win (1)

Table games 23.1 % 32.5 % 22.4 % 27.7 %win %Table gameswin per unit $ 7,877 $ 357 2,106.4 $ 7,249 $ 4,075 77.9 per day

Average numberof slot 726 480 51.3 707 596 18.6 machines

Slot machine $ 421,269 $ 39,415 968.8 $ 780,041 $ 464,129 68.1 handle

Slot machine $ 18,772 $ 2,395 683.8 $ 33,015 $ 20,800 58.7 win (3)

Slot machinewin per unit $ 284 $ 55 416.4 $ 258 $ 208 24.0 per day

Room statistics:

Occupancy 70.6 % 4.4 % 65.6 % 23.5 %

ADR (4) $ 180 $ 339 (46.9 ) $ 179 $ 298 (39.9 )

REVPAR (5) $ 127 $ 15 746.7 $ 118 $ 70 68.6

Note: Our casino operations in Macau were closed for a 15-day period in February 2020 and resumed operations on a reduced basis on February 20, 2020. Our casinos' operations have since been fully restored; however, certain COVID-19 specific protective measures, such as limiting the number of seats per table game, increasing the spacing between active slot machines and visitor entry checks and requirements involving temperature checkpoints, mask wearing, health declarations and proof of negative COVID-19 test results for travelers seeking entry to Macau remain in effect at the present time. We are currently unable to determine when these measures will be lifted.

NM - Not meaningful.

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 June Six Months Ended June 30, 30,

Percent Percent 2021 2020 2021 2020 Change Change

Wynn MacauSupplemental Information

Operating revenues

Casino $ 142,419 $ (3,524 ) NM $ 281,346 $ 186,604 50.8

Rooms 13,427 2,631 410.3 28,129 18,542 51.7

Food and 8,559 3,684 132.3 15,992 13,215 21.0 beverage

Entertainment,retail and 19,623 9,097 115.7 38,212 23,016 66.0 other

Total $ 184,028 $ 11,888 1,448.0 $ 363,679 $ 241,377 50.7



AdjustedProperty $ 14,086 $ (82,646 ) NM $ 30,642 $ (63,438 ) NM EBITDA (6)



Casino Statistics:

VIP:

Average number 85 91 (6.6 ) 87 86 1.2 of table games

VIP turnover $ 1,489,912 $ 607,144 145.4 $ 3,294,294 $ 3,571,290 (7.8 )

VIP table $ 39,388 $ (12,161 ) NM $ 98,022 $ 110,464 (11.3 )games win (1)

VIP table )games win as a 2.64 % (2.00 % 2.98 % 3.09 % % of turnover

Table gameswin per unit $ 5,111 $ (1,471 ) NM $ 6,201 $ 7,623 (18.7 )per day

Mass market:

Average number 240 229 4.8 240 208 15.4 of table games

Table drop (2) $ 670,400 $ 40,817 1,542.5 $ 1,261,290 $ 619,052 103.7

Table games $ 128,921 $ 3,391 3,701.9 $ 234,104 $ 121,333 92.9 win (1)

Table games 19.2 % 8.3 % 18.6 % 19.6 % win %

Table gameswin per unit $ 5,903 $ 163 3,521.5 $ 5,390 $ 3,472 55.2 per day

Average numberof slot 607 440 38.0 588 529 11.2 machines

Slot machine $ 300,523 $ 62,011 384.6 $ 601,794 $ 428,549 40.4 handle

Slot machine $ 9,223 $ 2,626 251.2 $ 19,431 $ 15,921 22.0 win (3)

Slot machinewin per unit $ 167 $ 66 153.0 $ 183 $ 179 2.2 per day

Poker rake $ - $ - - $ - $ 2,083 (100.0 )

Room statistics:

Occupancy 68.0 % 7.5 % 64.4 % 28.4 %

ADR (4) $ 198 $ 342 (42.1 ) $ 219 $ 324 (32.4 )

REVPAR (5) $ 135 $ 25 440.0 $ 141 $ 92 53.3

Note: Our casino operations in Macau were closed for a 15-day period in February 2020 and resumed operations on a reduced basis on February 20, 2020. Our casinos' operations have since been fully restored; however, certain COVID-19 specific protective measures, such as limiting the number of seats per table game, increasing the spacing between active slot machines and visitor entry checks and requirements involving temperature checkpoints, mask wearing, health declarations and proof of negative COVID-19 test results for travelers seeking entry to Macau remain in effect at the present time. We are currently unable to determine when these measures will be lifted.

NM - Not meaningful.

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 June Six Months Ended June 30, 30,

Percent Percent 2021 2020 2021 2020 Change Change

Las VegasOperations SupplementalInformation

Operating revenues

Casino $ 112,775 $ 24,365 362.9 $ 192,678 $ 95,660 101.4

Rooms 93,785 12,353 659.2 133,546 118,458 12.7

Food and 112,858 16,092 601.3 152,935 122,071 25.3 beverage

Entertainment,retail and 35,648 12,076 195.2 54,623 52,521 4.0 other

Total $ 355,066 $ 64,886 447.2 $ 533,782 $ 388,710 37.3



AdjustedProperty $ 133,222 $ (75,564 ) NM $ 161,303 $ (97,641 ) NM EBITDA (6)



Casino Statistics:

Average number 218 221 (1.4 ) 195 233 (16.3 )of table games

Table drop (2) $ 427,014 $ 90,873 369.9 $ 751,545 $ 505,806 48.6

Table games $ 99,021 $ 17,918 452.6 $ 175,674 $ 100,584 74.7 win (1)

Table games 23.2 % 19.7 % 23.4 % 19.9 % win %

Table gameswin per unit $ 4,997 $ 2,998 66.7 $ 4,979 $ 4,152 19.9 per day

Average numberof slot 1,715 1,752 (2.1 ) 1,631 1,762 (7.4 )machines

Slot machine $ 1,115,149 $ 246,393 352.6 $ 1,906,409 $ 911,226 109.2 handle

Slot machine $ 78,890 $ 17,523 350.2 $ 129,379 $ 64,197 101.5 win (3)

Slot machinewin per unit $ 506 $ 371 36.4 $ 438 $ 350 25.1 per day

Poker rake $ 3,927 $ - 100.0 $ 5,794 $ 2,175 166.4

Room statistics:

Occupancy 67.2 % 43.7 % 52.9 % 70.6 %

ADR (4) $ 333 $ 226 47.3 $ 332 $ 350 (5.1 )

REVPAR (5) $ 224 $ 99 126.3 $ 176 $ 247 (28.7 )

Note: Wynn Las Vegas ceased all operations and closed to the public on March 17, 2020 and reopened on June 4, 2020 with certain COVID-19 specific protective measures in place, such as limiting the number of seats per table game, slot machine spacing, temperature checks, mask protection, and suspension of certain entertainment and nightlife offerings. On October 19, 2020, Encore at Wynn Las Vegas adjusted its operating schedule to five days/four nights each week due to reduced customer demand levels. This adjusted operating schedule remained in effect through the first quarter of 2021, and on April 8, 2021, Encore at Wynn Las Vegas resumed full operations. On May 3, 2021, all industry restrictions were lifted and capacity limits increased to 100%.

NM - Not meaningful.

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 June Six Months Ended June 30, 30,

Percent Percent 2021 2020 2021 2020 Change Change

Encore BostonHarbor SupplementalInformation

Operating revenues

Casino $ 135,485 $ - NM $ 246,964 $ 101,790 142.6

Rooms 9,670 - NM 14,385 10,955 31.3

Food and 13,920 - NM 23,247 20,606 12.8 beverage

Entertainment,retail and 6,166 206 NM 10,735 7,745 38.6 other

Total $ 165,241 $ 206 NM $ 295,331 $ 141,096 109.3



AdjustedProperty $ 46,916 $ (53,779 ) NM $ 77,279 $ (66,415 ) NM EBITDA (6)



Casino Statistics:

Average number 195 197 160 23.1 of table games

Table drop (2) $ 306,070 $ 540,632 $ 275,631 96.1

Table games $ 64,874 $ 114,251 $ 57,286 99.4 win (1)

Table games 21.2 % 21.1 % 20.8 % win %

Table gameswin per unit $ 3,654 $ 3,201 $ 4,826 (33.7 )per day

Average numberof slot 2,171 2,031 2,837 (28.4 )machines

Slot machine $ 1,094,178 $ 2,007,973 $ 767,739 161.5 handle

Slot machine $ 89,560 $ 164,380 $ 59,448 176.5 win (3)

Slot machinewin per unit $ 453 $ 447 $ 283 58.0 per day

Poker rake $ - $ - $ 5,105 (100.0 )

Room statistics:

Occupancy 87.8 % 81.1 % 75.8 %

ADR (4) $ 304 $ 294 $ 292 0.7

REVPAR (5) $ 267 $ 238 $ 222 7.2

Note: Encore Boston Harbor ceased all operations and closed to the public on March 15, 2020, for the remainder of the first and second quarters of 2020. Accordingly, statistics for the three months ended June 30, 2020 have been omitted from the table. On July 10, 2020, Encore Boston Harbor reopened with certain COVID-19 specific protective measures in place, in addition to the limitations on operating hours. On January 25, 2021, the limitations on operating hours were lifted, and Encore Boston Harbor restored 24-hour casino operations and reopened its hotel tower on a Thursday through Sunday schedule. Accordingly, Encore Boston Harbor's room statistics have been computed based on 53 days of operations for the three months ended June 30, 2021 and 89 days of operations for the six months ended June 30, 2021, respectively. On April 27, 2021, the Governor of Massachusetts announced a phased plan for further reopening and on May 28, 2021 signed an executive order rescinding the COVID-related restrictions and limitations on businesses as of May 29, 2021. The property continues to operate its hotel tower Thursday through Sunday.

NM - Not meaningful.

Table games win is shown before discounts, commissions and the allocation(1) of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis.

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(2) 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.

ADR is average daily rate and is calculated by dividing total room(4) revenues including complimentaries (less service charges, if any) by total rooms occupied.

REVPAR is revenue per available room and is calculated by dividing total(5) room revenues including complimentaries (less service charges, if any) by total rooms available.

Refer to accompanying reconciliations of Operating Income (Loss) to(6) Adjusted Property EBITDA and Net Loss Attributable to Wynn Resorts, Limited to Adjusted Property EBITDA.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005966/en/

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