Wynn Resorts: Q2 Earnings Insights

Shares of Wynn Resorts WYNN rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 81.76% over the past year to ($1.12), which beat the estimate of ($1.52).

Revenue of $990,113,000 up by 1055.35% from the same period last year, which beat the estimate of $958,460,000.

Guidance

Wynn Resorts hasn't issued any earnings guidance for the time being.

Wynn Resorts hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Aug 04, 2021

Time: 04:15 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/aekrxrtp

Price Action

52-week high: $143.88

Company's 52-week low was at $67.70

Price action over last quarter: down 26.52%

Company Overview

Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, Encore Boston Harbor in Massachusetts opened June 2019, and various Vegas projects are currently under development. Additionally, we expect the company to begin construction on a new building next to its existing Macau Palace resort in late 2021/early 2022, which we forecast to open in 2025. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and Las Vegas, respectively.