Wynn Resorts, Limited (NASDAQ:WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the third quarter ended September 30, 2023.

Operating revenues were $1.67 billion for the third quarter of 2023, an increase of $782.2 million from $889.7 million for the third quarter of 2022. Net loss attributable to Wynn Resorts, Limited was $116.7 million for the third quarter of 2023, compared to net loss attributable to Wynn Resorts, Limited of $142.9 million for the third quarter of 2022. Diluted net loss per share was $1.03 for the third quarter of 2023, compared to diluted net loss per share of $1.27 for the third quarter of 2022. Adjusted Property EBITDAR⁽¹⁾ was $530.4 million for the third quarter of 2023, compared to Adjusted Property EBITDAR of $173.5 million for the third quarter of 2022.

"Our third quarter results reflect continued strength across our property portfolio," said Craig Billings, CEO of Wynn Resorts, Limited. "Our teams at Wynn Las Vegas and Encore Boston Harbor delivered a new third-quarter record for Adjusted Property EBITDAR at our combined North American properties as we continue to elevate our properties above those of our peers. In Macau, the recovery continued to progress during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses. On the development front, construction on Wynn Al Marjan Island is well underway, and we are confident the resort will be a 'must see' tourism destination in the UAE."

Consolidated Results

Operating revenues were $1.67 billion for the third quarter of 2023, an increase of $782.2 million from $889.7 million for the third quarter of 2022. For the third quarter of 2023, operating revenues increased $449.5 million, $254.6 million, $74.6 million, and $4.8 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Wynn Interactive, respectively, and decreased $1.4 million at Encore Boston Harbor, from the third quarter of 2022.

Net loss attributable to Wynn Resorts, Limited was $116.7 million for the third quarter of 2023, compared to net loss attributable to Wynn Resorts, Limited of $142.9 million for the third quarter of 2022. Diluted net loss per share was $1.03 for the third quarter of 2023, compared to diluted net loss per share of $1.27 for the third quarter of 2022. Adjusted net income attributable to Wynn Resorts, Limited⁽²⁾ was $112.0 million, or $0.99 per diluted share, for the third quarter of 2023, compared to adjusted net loss attributable to Wynn Resorts, Limited of $135.4 million, or $1.20 per diluted share, for the third quarter of 2022.

Adjusted Property EBITDAR was $530.4 million for the third quarter of 2023, an increase of $356.8 million compared to Adjusted Property EBITDAR of $173.5 million for the third quarter of 2022. For the third quarter of 2023, Adjusted Property EBITDAR increased $198.9 million, $121.7 million, $24.0 million, and $12.9 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Wynn Interactive, respectively, and decreased $0.6 million at Encore Boston Harbor, from the third quarter of 2022.

Wynn Resorts, Limited also announced today that its Board of Directors has declared a cash dividend of $0.25 per share, payable on November 30, 2023 to stockholders of record as of November 20, 2023.

Property Results

Macau Operations

Wynn Palace

Operating revenues from Wynn Palace were $524.8 million for the third quarter of 2023, an increase of $449.5 million from $75.2 million for the third quarter of 2022. Adjusted Property EBITDAR from Wynn Palace was $177.0 million for the third quarter of 2023, compared to $(21.8) million for the third quarter of 2022. Table games win percentage in mass market operations was 23.3%, above the 21.5% experienced in the third quarter of 2022. VIP table games win as a percentage of turnover was 3.42%, above the property's expected range of 3.1% to 3.4% and above the 3.27% experienced in the third quarter of 2022.

Wynn Macau

Operating revenues from Wynn Macau were $295.0 million for the third quarter of 2023, an increase of $254.6 million from $40.4 million for the third quarter of 2022. Adjusted Property EBITDAR from Wynn Macau was $77.9 million for the third quarter of 2023, compared to $(43.8) million for the third quarter of 2022. Table games win percentage in mass market operations was 16.5%, above the 13.3% experienced in the third quarter of 2022. VIP table games win as a percentage of turnover was 3.52%, above the property's expected range of 3.1% to 3.4% and above the 1.56% experienced in the third quarter of 2022.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $619.0 million for the third quarter of 2023, an increase of $74.6 million from $544.4 million for the third quarter of 2022. Adjusted Property EBITDAR from our Las Vegas Operations for the third quarter of 2023 was $219.7 million, compared to $195.8 million for the third quarter of 2022. Table games win percentage for the third quarter of 2023 was 26.0%, within the property's expected range of 22% to 26% and above the 20.7% experienced in the third quarter of 2022.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $210.4 million for the third quarter of 2023, a decrease of $1.4 million from $211.8 million for the third quarter of 2022. Adjusted Property EBITDAR from Encore Boston Harbor for the third quarter of 2023 was $60.5 million, compared to $61.1 million for the third quarter of 2022. Table games win percentage for the third quarter of 2023 was 20.8%, within the property's expected range of 18% to 22% and below the 21.1% experienced in the third quarter of 2022.

Balance Sheet

Our cash and cash equivalents as of September 30, 2023 totaled $2.79 billion, comprised of $1.20 billion held by Wynn Macau, Limited ("WML") and subsidiaries, $651.5 million held by Wynn Resorts Finance, LLC ("WRF") and subsidiaries excluding WML, and $936.7 million held at Corporate and other. In addition, as of September 30, 2023, we had $646.2 million and $145.5 million in short-term investments held at WML and Corporate and other, respectively. As of September 30, 2023, the available borrowing capacity under the Wynn Resorts Finance Revolver was $737.0 million, and the WM Cayman II Revolver was fully drawn.

Total current and long-term debt outstanding at September 30, 2023 was $11.79 billion, comprised of $6.79 billion of Macau related debt, $2.25 billion of Wynn Las Vegas debt, $2.14 billion of WRF debt, and $613.9 million of debt held by the retail joint venture which we consolidate.

In August 2023, Wynn Las Vegas repurchased $400.0 million aggregate principal amount of its 5 1/2% Senior Notes due 2025, at a price equal to 94% of the principal amount plus accrued interest and an early tender premium of $20.0 million, using cash held by Wynn Resorts.

During the third quarter of 2023, the Company repurchased 596,948 shares of its common stock under its publicly announced equity repurchase program at an average price of $94.11 per share, for an aggregate cost of $56.2 million.

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 November 9, 2023 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 November 14, 2023, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended September 30, 2023 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, adverse macroeconomic conditions and their impact on levels of income and consumer discretionary spending, changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies, uncertainty surrounding the pace of recovery of tourism and travel in Asia following the COVID-19 pandemic, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, general global political 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, 2022, as supplemented by the Company's other periodic reports filed with the Securities and Exchange Commission from time to time. 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 EBITDAR" is net income (loss) before interest, income taxes, depreciation and amortization, pre-opening expenses, impairment of goodwill and intangible assets, property charges and other, triple-net operating lease rent expense related to Encore Boston Harbor, 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, gain (loss) on debt financing transactions, and other non-operating income and expenses. Adjusted Property EBITDAR 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 EBITDAR 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 EBITDAR 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 EBITDAR 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 EBITDAR 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 EBITDAR should not be considered as an alternative to operating income (loss) 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 (loss), Adjusted Property EBITDAR 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, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, our calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

(2) "Adjusted net income (loss) attributable to Wynn Resorts, Limited" is net income (loss) attributable to Wynn Resorts, Limited before pre-opening expenses, impairment of goodwill and intangible assets, property charges and other, change in derivatives fair value, gain (loss) on debt financing transactions, and foreign currency remeasurement and other, net of noncontrolling interests. Adjusted net income (loss) attributable to Wynn Resorts, Limited and adjusted net income (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 loss per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income (loss) attributable to Wynn Resorts, Limited and adjusted net income (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 income (loss) attributable to Wynn Resorts, Limited to adjusted net income (loss) attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDAR, and (iii) net income (loss) attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.

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

	Three Months Ended September 30,						Nine Months Ended September 30,
		2023			2022			2023			2022
Operating revenues:
Casino	$	972,453		$	359,876		$	2,652,444		$	1,209,323
Rooms		289,338			197,212			838,372			568,886
Food and beverage		267,432			224,730			757,079			628,566
Entertainment, retail and other		142,713			107,904			443,542			345,113
Total operating revenues		1,671,936			889,722			4,691,437			2,751,888
Operating expenses:
Casino		577,733			239,901			1,594,761			808,044
Rooms		77,790			67,689			224,275			191,474
Food and beverage		220,835			185,388			605,376			517,515
Entertainment, retail and other		82,554			72,964			261,035			236,853
General and administrative		268,445			201,275			785,538			598,433
Provision for credit losses		870			(8,186	)		(6,314	)		(11,331	)
Pre-opening		867			6,447			6,822			13,396
Depreciation and amortization		171,969			172,502			510,743			520,026
Impairment of goodwill and intangible assets		93,990			—			94,490			48,036
Property charges and other		114,288			4,733			132,265			29,326
Total operating expenses		1,609,341			942,713			4,208,991			2,951,772
Operating income (loss)		62,595			(52,991	)		482,446			(199,884	)
Other income (expense):
Interest income		46,534			6,892			130,854			10,863
Interest expense, net of amounts capitalized		(188,571	)		(165,277	)		(566,554	)		(472,265	)
Change in derivatives fair value		(50,637	)		5,839			(3,255	)		14,801
Gain (loss) on debt financing transactions		2,928			—			(12,683	)		—
Other		3,861			(864	)		(19,794	)		(26,090	)
Other income (expense), net		(185,885	)		(153,410	)		(471,432	)		(472,691	)
Income (loss) before income taxes		(123,290	)		(206,401	)		11,014			(672,575	)
Benefit (provision) for income taxes		2,749			(1,390	)		(2,574	)		(3,248	)
Net income (loss)		(120,541	)		(207,791	)		8,440			(675,823	)
Less: net (income) loss attributable to noncontrolling interests		3,863			64,899			(7,602	)		219,556
Net income (loss) attributable to Wynn Resorts, Limited	$	(116,678	)	$	(142,892	)	$	838		$	(456,267	)
Basic and diluted net income (loss) per common share:
Net income (loss) attributable to Wynn Resorts, Limited:
Basic	$	(1.03	)	$	(1.27	)	$	0.01		$	(4.00	)
Diluted	$	(1.03	)	$	(1.27	)	$	0.01		$	(4.00	)
Weighted average common shares outstanding:
Basic		112,797			112,709			112,813			114,061
Diluted		112,797			112,709			113,132			114,061

WYNN RESORTS, LIMITED AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO ADJUSTED NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED (in thousands, except per share data) (unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
		2023			2022			2023			2022
Net income (loss) attributable to Wynn Resorts, Limited	$	(116,678	)	$	(142,892	)	$	838		$	(456,267	)
Pre-opening expenses		867			6,447			6,822			13,396
Impairment of goodwill and intangible assets		93,990			—			94,490			48,036
Property charges and other		114,288			4,733			132,265			29,326
Change in derivatives fair value		50,637			(5,839	)		3,255			(14,801	)
(Gain) loss on debt financing transactions		(2,928	)		—			12,683			—
Foreign currency remeasurement and other		(3,861	)		864			19,794			26,090
Income tax impact on adjustments		(1,065	)		(88	)		(1,055	)		(96	)
Noncontrolling interests impact on adjustments		(23,233	)		1,380			(20,403	)		(14,427	)
Adjusted net income (loss) attributable to Wynn Resorts, Limited	$	112,017		$	(135,395	)	$	248,689		$	(368,743	)
Adjusted net income (loss) attributable to Wynn Resorts, Limited per diluted share	$	0.99		$	(1.20	)	$	2.20		$	(3.23	)

Weighted average common shares outstanding - diluted		113,106			112,709			113,132			114,061

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

	Three Months Ended September 30, 2023
	Wynn Palace			Wynn Macau			Other Macau			Total Macau Operations			Las Vegas Operations		Encore Boston Harbor			Wynn Interactive			Corporate and Other			Total
Operating income (loss)	$	92,484		$	40,065		$	(5,459	)	$	127,090		$	122,276	$	(19,070	)	$	(208,959	)	$	41,258		$	62,595
Pre-opening expenses		—			—			—			—			—		6			861			—			867
Depreciation and amortization		53,985			20,331			381			74,697			57,753		31,100			6,094			2,325			171,969
Impairment of goodwill and intangible assets		—			—			—			—			—		—			93,990			—			93,990
Property charges and other		9,085			3,405			2			12,492			1,323		487			99,986			—			114,288
Management and license fees		16,691			9,228			—			25,919			29,379		10,265			—			(65,563	)		—
Corporate expenses and other		2,364			2,372			3,982			8,718			7,264		1,880			1,861			15,381			35,104
Stock-based compensation		2,439			2,538			1,094			6,071			1,745		426			1,303			6,599			16,144
Triple-net operating lease rent expense		—			—			—			—			—		35,404			—			—			35,404
Adjusted Property EBITDAR	$	177,048		$	77,939		$	—		$	254,987		$	219,740	$	60,498		$	(4,864	)	$	—		$	530,361

	Three Months Ended September 30, 2022
	Wynn Palace			Wynn Macau			Other Macau			Total Macau Operations			Las Vegas Operations		Encore Boston Harbor			Wynn Interactive			Corporate and Other			Total
Operating income (loss)	$	(84,478	)	$	(73,833	)	$	(4,339	)	$	(162,650	)	$	103,006	$	9,602		$	(27,113	)	$	24,164		$	(52,991	)
Pre-opening expenses		—			—			—			—			5,087		199			1,161			—			6,447
Depreciation and amortization		52,225			21,172			380			73,777			52,756		38,875			4,827			2,267			172,502
Property charges and other		2,467			1,419			22			3,908			1,042		34			(213	)		(38	)		4,733
Management and license fees		2,643			2,250			—			4,893			25,798		10,308			—			(40,999	)		—
Corporate expenses and other		1,599			1,620			3,297			6,516			5,872		1,736			651			7,994			22,769
Stock-based compensation		3,736			3,566			640			7,942			2,199		382			2,939			6,612			20,074
Adjusted Property EBITDAR	$	(21,808	)	$	(43,806	)	$	—		$	(65,614	)	$	195,760	$	61,136		$	(17,748	)	$	—		$	173,534

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

	Nine Months Ended September 30, 2023
	Wynn Palace			Wynn Macau			Other Macau			Total Macau Operations			Las Vegas Operations		Encore Boston Harbor			Wynn Interactive			Corporate and Other			Total
Operating income (loss)	$	212,627		$	99,581		$	(16,297	)	$	295,911		$	384,048	$	(45,022	)	$	(268,029	)	$	115,538		$	482,446
Pre-opening expenses		—			—			—			—			81		1,253			5,591			(103	)		6,822
Depreciation and amortization		162,060			61,508			1,141			224,709			171,955		91,232			15,933			6,914			510,743
Impairment of goodwill and intangible assets		—			—			—			—			—		—			94,490			—			94,490
Property charges and other		12,914			10,483			15			23,412			8,474		709			99,670			—			132,265
Management and license fees		43,595			25,990			—			69,585			84,632		31,514			—			(185,731	)		—
Corporate expenses and other		7,475			7,591			12,034			27,100			21,150		5,693			4,841			43,558			102,342
Stock-based compensation		6,042			7,121			3,107			16,270			5,118		1,319			6,608			19,824			49,139
Triple-net operating lease rent expense		—			—			—			—			—		106,318			—			—			106,318
Adjusted Property EBITDAR	$	444,713		$	212,274		$	—		$	656,987		$	675,458	$	193,016		$	(40,896	)	$	—		$	1,484,565

	Nine Months Ended September 30, 2022
	Wynn Palace			Wynn Macau			Other Macau			Total Macau Operations			Las Vegas Operations		Encore Boston Harbor			Wynn Interactive			Corporate and Other			Total
Operating income (loss)	$	(251,721	)	$	(182,128	)	$	(12,389	)	$	(446,238	)	$	328,762	$	25,551		$	(189,469	)	$	81,510		$	(199,884	)
Pre-opening expenses		—			—			—			—			10,031		199			3,166			—			13,396
Depreciation and amortization		154,293			60,750			2,328			217,371			144,108		117,296			34,448			6,803			520,026
Impairment of goodwill and intangible assets		—			—			—			—			—		—			48,036			—			48,036
Property charges and other		2,918			9,366			27			12,311			3,319		674			20,107			(7,085	)		29,326
Management and license fees		10,086			8,846			—			18,932			73,174		29,810			—			(121,916	)		—
Corporate expenses and other		4,729			4,910			8,262			17,901			16,862		5,382			5,504			25,156			70,805
Stock-based compensation		7,073			9,378			1,772			18,223			5,588		1,220			8,006			15,532			48,569
Adjusted Property EBITDAR	$	(72,622	)	$	(88,878	)	$	—		$	(161,500	)	$	581,844	$	180,132		$	(70,202	)	$	—		$	530,274

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

	Three Months Ended September 30,						Nine Months Ended September 30,
		2023			2022			2023			2022
Net income (loss) attributable to Wynn Resorts, Limited	$	(116,678	)	$	(142,892	)	$	838		$	(456,267	)
Net (loss) income attributable to noncontrolling interests		(3,863	)		(64,899	)		7,602			(219,556	)
Pre-opening expenses		867			6,447			6,822			13,396
Depreciation and amortization		171,969			172,502			510,743			520,026
Impairment of goodwill and intangible assets		93,990			—			94,490			48,036
Property charges and other		114,288			4,733			132,265			29,326
Triple-net operating lease rent expense		35,404			—			106,318			—
Corporate expenses and other		35,104			22,769			102,342			70,805
Stock-based compensation		16,144			20,074			49,139			48,569
Interest income		(46,534	)		(6,892	)		(130,854	)		(10,863	)
Interest expense, net of amounts capitalized		188,571			165,277			566,554			472,265
Change in derivatives fair value		50,637			(5,839	)		3,255			(14,801	)
(Gain) loss on debt financing transactions		(2,928	)		—			12,683			—
Other		(3,861	)		864			19,794			26,090
(Benefit) provision for income taxes		(2,749	)		1,390			2,574			3,248
Adjusted Property EBITDAR	$	530,361		$	173,534		$	1,484,565		$	530,274

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 September 30,								Nine Months Ended September 30,
		2023			2022		Percent Change			2023			2022		Percent Change
Wynn Palace Supplemental Information
Operating revenues
Casino	$	418,043		$	45,361		821.6		$	1,054,007		$	186,968		463.7
Rooms		54,309			6,974		678.7			151,311			27,813		444.0
Food and beverage		26,215			5,727		357.7			75,028			24,027		212.3
Entertainment, retail and other		26,206			17,186		52.5			82,140			58,416		40.6
Total	$	524,773		$	75,248		597.4		$	1,362,486		$	297,224		358.4

Adjusted Property EBITDAR (6)	$	177,048		$	(21,808	)	NM		$	444,713		$	(72,622	)	NM

Casino Statistics:
VIP:
Average number of table games		58			49		18.4			55			54		1.9
VIP turnover	$	2,866,469		$	283,744		910.2		$	8,202,165		$	1,593,761		414.6
VIP table games win (1)	$	98,014		$	9,271		957.2		$	289,492		$	22,353		1,195.1
VIP table games win as a % of turnover		3.42	%		3.27	%				3.53	%		1.40	%
Table games win per unit per day	$	18,386		$	2,381		672.2		$	19,233		$	1,587		1,111.9
Mass market:
Average number of table games		244			212		15.1			240			226		6.2
Table drop (2)	$	1,725,845		$	197,066		775.8		$	4,414,990		$	939,474		369.9
Table games win (1)	$	402,285		$	42,449		847.7		$	968,967		$	195,205		396.4
Table games win %		23.3	%		21.5	%				21.9	%		20.8	%
Table games win per unit per day	$	17,913		$	2,501		616.2		$	14,763		$	3,305		346.7
Average number of slot machines		563			607		(7.2	)		579			638		(9.2	)
Slot machine handle	$	634,121		$	121,522		421.8		$	1,760,345		$	502,856		250.1
Slot machine win (3)	$	22,228		$	5,418		310.3		$	75,236		$	22,989		227.3
Slot machine win per unit per day	$	429		$	112		283.0		$	476		$	138		244.9
Room statistics:
Occupancy		96.9	%		28.1	%				93.8	%		34.4	%
ADR (4)	$	342		$	145		135.9		$	327		$	160		104.4
REVPAR (5)	$	331		$	41		707.3		$	307		$	55		458.2
NM: Not meaningful.
Note: The results of operations of Wynn Palace for the three and nine months ended September 30, 2022 were negatively impacted by certain travel-related restrictions and conditions, including COVID-19 testing and other mitigation procedures, related to the COVID-19 pandemic.

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 September 30,								Nine Months Ended September 30,
		2023			2022		Percent Change			2023			2022		Percent Change
Wynn Macau Supplemental Information
Operating revenues
Casino	$	230,294		$	22,832		908.6		$	649,627		$	165,221		293.2
Rooms		31,673			4,395		620.7			79,774			18,547		330.1
Food and beverage		18,287			4,261		329.2			47,255			17,878		164.3
Entertainment, retail and other		14,762			8,880		66.2			50,679			32,405		56.4
Total	$	295,016		$	40,368		630.8		$	827,335		$	234,051		253.5

Adjusted Property EBITDAR (6)	$	77,939		$	(43,806	)	NM		$	212,274		$	(88,878	)	NM

Casino Statistics:
VIP:
Average number of table games		36			39		(7.7	)		45			38		18.4
VIP turnover	$	1,192,610		$	152,872		680.1		$	3,727,106		$	1,341,567		177.8
VIP table games win (1)	$	41,995		$	2,389		1,657.8		$	130,574		$	50,864		156.7
VIP table games win as a % of turnover		3.52	%		1.56	%				3.50	%		3.79	%
Table games win per unit per day	$	12,638		$	771		1,539.2		$	10,569		$	5,164		104.7
Mass market:
Average number of table games		217			230		(5.7	)		214			242		(11.6	)
Table drop (2)	$	1,384,258		$	167,539		726.2		$	3,597,557		$	852,832		321.8
Table games win (1)	$	228,323		$	22,232		927.0		$	613,154		$	135,074		353.9
Table games win %		16.5	%		13.3	%				17.0	%		15.8	%
Table games win per unit per day	$	11,423		$	1,211		843.3		$	10,485		$	2,140		390.0
Average number of slot machines		500			641		(22.0	)		521			630		(17.3	)
Slot machine handle	$	570,122		$	193,680		194.4		$	1,559,698		$	676,531		130.5
Slot machine win (3)	$	16,143		$	6,961		131.9		$	47,892		$	23,902		100.4
Slot machine win per unit per day	$	351		$	136		158.1		$	337		$	145		132.4
Poker rake	$	4,494		$	74		NM		$	13,807		$	134		NM
Room statistics:
Occupancy		98.7	%		31.4	%				95.5	%		37.4	%
ADR (4)	$	327		$	137		138.7		$	281		$	163		72.4
REVPAR (5)	$	323		$	43		651.2		$	268		$	61		339.3
NM: Not meaningful.
Note: The results of operations of Wynn Macau for the three and nine months ended September 30, 2022 were negatively impacted by certain travel-related restrictions and conditions, including COVID-19 testing and other mitigation procedures, related to the COVID-19 pandemic.

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 September 30,								Nine Months Ended September 30,
		2023			2022		Percent Change			2023			2022		Percent Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino	$	168,130		$	134,314		25.2		$	460,606		$	393,930		16.9
Rooms		178,518			162,125		10.1			541,392			460,707		17.5
Food and beverage		203,066			193,733		4.8			570,695			526,389		8.4
Entertainment, retail and other		69,252			54,217		27.7			211,109			165,618		27.5
Total	$	618,966		$	544,389		13.7		$	1,783,802		$	1,546,644		15.3

Adjusted Property EBITDAR (6)	$	219,740		$	195,760		12.2		$	675,458		$	581,844		16.1

Casino Statistics:
Average number of table games		234			237		(1.3	)		233			234		(0.4	)
Table drop (2)	$	607,610		$	570,419		6.5		$	1,768,057		$	1,683,317		5.0
Table games win (1)	$	157,873		$	118,263		33.5		$	431,896		$	386,306		11.8
Table games win %		26.0	%		20.7	%				24.4	%		22.9	%
Table games win per unit per day	$	7,340		$	5,420		35.4		$	6,777		$	6,047		12.1
Average number of slot machines		1,631			1,693		(3.7	)		1,650			1,711		(3.6	)
Slot machine handle	$	1,638,274		$	1,522,512		7.6		$	4,733,534		$	4,026,675		17.6
Slot machine win (3)	$	115,738		$	107,575		7.6		$	325,883		$	278,250		17.1
Slot machine win per unit per day	$	771		$	691		11.6		$	723		$	596		21.3
Poker rake	$	5,669		$	3,848		47.3		$	16,243		$	12,729		27.6
Room statistics:
Occupancy		90.0	%		88.8	%				89.8	%		85.5	%
ADR (4)	$	463		$	426		8.7		$	473		$	440		7.5
REVPAR (5)	$	417		$	378		10.3		$	424		$	376		12.8

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 September 30,								Nine Months Ended September 30,
		2023			2022		Percent Change			2023			2022		Percent Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino	$	155,986		$	157,369		(0.9	)	$	488,204		$	463,204		5.4
Rooms		24,838			23,718		4.7			65,895			61,819		6.6
Food and beverage		19,864			21,009		(5.5	)		64,101			60,272		6.4
Entertainment, retail and other		9,715			9,687		0.3			30,441			27,438		10.9
Total	$	210,403		$	211,783		(0.7	)	$	648,641		$	612,733		5.9

Adjusted Property EBITDAR (6)	$	60,498		$	61,136		(1.0	)	$	193,016		$	180,132		7.2

Casino Statistics:
Average number of table games		191			188		1.6			193			185		4.3
Table drop (2)	$	343,686		$	364,844		(5.8	)	$	1,064,092		$	1,077,261		(1.2	)
Table games win (1)	$	71,555		$	76,970		(7.0	)	$	230,170		$	234,024		(1.6	)
Table games win %		20.8	%		21.1	%				21.6	%		21.7	%
Table games win per unit per day	$	4,079		$	4,448		(8.3	)	$	4,368		$	4,624		(5.5	)
Average number of slot machines		2,561			2,706		(5.4	)		2,547			2,754		(7.5	)
Slot machine handle	$	1,336,724		$	1,288,250		3.8		$	3,933,388		$	3,703,990		6.2
Slot machine win (3)	$	105,330		$	104,122		1.2		$	316,129		$	298,842		5.8
Slot machine win per unit per day	$	447		$	418		6.9		$	455		$	397		14.6
Poker rake	$	5,224		$	2,554		104.5		$	16,116		$	4,580		251.9
Room statistics:
Occupancy		96.0	%		97.0	%				92.9	%		90.6	%
ADR (4)	$	421		$	398		5.8		$	389		$	374		4.0
REVPAR (5)	$	405		$	386		4.9		$	362		$	339		6.8

(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 EBITDAR and Net Income (Loss) Attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.

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Wynn Resorts, Limited Reports Third Quarter 2023 Results