Recap: Wynn Resorts Q1 Earnings

Shares of Wynn Resorts WYNN fell after the company reported Q1 results.

Quarterly Results

Earnings per share rose 31.92% year over year to ($2.41), which missed the estimate of ($1.98).

Revenue of $725,783,000 decreased by 23.90% year over year, which missed the estimate of $758,020,000.

Looking Ahead

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

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: May 10, 2021

Time: 04:30 PM

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

Price Action

Company's 52-week high was at $143.88

52-week low: $67.54

Price action over last quarter: Up 7.48%

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 received 76% and 24% of its 2019 prepandemic EBITDA from Macao and Las Vegas, respectively.