In the 2023 financial year, Wynn Resorts experienced a significant increase in revenue, reaching $6.53 billion, a 73.9% increase from the previous year. The company also achieved an all-time high in adjusted property EBITDAR. The increase in revenue was seen across all properties, with Macau experiencing the most growth following the removal of Covid measures in the region. Revenue growth was also reported in the US, particularly in Las Vegas and Boston.

Furthermore, Wynn Resorts has ongoing construction on a new property in the United Arab Emirates, known as Wynn Al Marjan Island. CEO Craig Billings expressed confidence in the company’s future, citing its diversification and growth opportunities in Macau and the UAE.

Despite the positive news, Wynn Resorts scaled back its interactive business, with plans to exit various markets in the US, including Massachusetts. However, its performance in Macau was outstanding, with casino revenue reaching $3.72 billion, a significant increase from the previous year.

In Q4, Wynn Resorts achieved record figures, with revenue increasing by 83.3% to $1.84 billion. Macau operations accounted for the majority of revenue, with significant contributions from Wynn Palace and Wynn Macau. The company also reported a new quarterly high in adjusted property EBITDAR, which reached $630.4 million.

CEO Billings commended the Wynn team for their achievements in 2023. Despite scaling back its interactive business, the outlook for Wynn Resorts remains positive, especially with its strong performance in Macau and ongoing construction in the UAE. The company’s commitment to diversification and continued growth positions it well for the future.

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