WYNN RESORTS LTD

Listed Company

WYNNCIK 0001174922NasdaqLarge AcceleratedHotels & MotelsFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$327.33M

Total Assets

$13.11B

Equity

$-275.49M

Shares Out

104.28M

Op. Cash Flow

$1.35B

Business

WYNN RESORTS LTD designs, develops, and operates luxury integrated resorts focused on hospitality, gaming, retail, dining, entertainment, meetings and conventions with an emphasis on high-end guest service. Its primary offerings include luxury hotel accommodations, casino gaming (tables, slots, private salons), branded retail, food and beverage outlets, entertainment venues, spas and meeting spaces. The company reports operations across segments including Wynn Palace, Wynn Macau, Las Vegas Operations and Encore Boston Harbor. It serves international and domestic leisure and business travelers through resort properties and regional marketing offices.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total operating revenues	7,138	7,128	6,532	3,757	3,764
General and administrative	1,117	1,080	1,065	830	797
Provision for credit losses	13	5	−4	−7	29
Pre-opening	38	9	9	21	7
Depreciation and amortization	621	659	687	692	716
Impairment of goodwill and intangible assets	0	0	94	48	10
Property charges and other	50	215	131	65	41
Total operating expenses	6,020	5,995	5,692	3,858	4,158
Operating income	1,118	1,133	840	−101	−395
Interest income	67	130	176	30	3
Interest expense, net of amounts capitalized	−626	−688	−752	−651	—
Change in derivatives fair value	−35	42	45	16	11
Loss on debt financing transactions	−2	−3	−13	0	−2
Other	−9	29	−11	6	−24
Other expense, net	−604	−489	−555	−599	−617
Income before income taxes	514	643	285	−700	−1,012
(Provision) benefit for income taxes	−105	−4	497	−9	−474,000
Net income	409	640	782	−709	−1,012
Less: net income attributable to noncontrolling interests	−82	−139	−52	286	256
Net income attributable to Wynn Resorts, Limited	327	501	730	−424	−756
Earnings Per Share, Basic	3.16	4.56	6.49	−3.73	−6.64
Earnings Per Share, Diluted	3.14	4.35	6.32	−3.73	−6.64
Basic (in shares)	104	110	113	114	114
Diluted (in shares)	104	110	113	114	114

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,463	2,426	2,879	3,650	2,523
Investments	602	0	845	0	—
Accounts receivable, net of allowance for credit losses of $45,645 and $37,694	403	324	342	216	199
Inventories	88	76	76	70	70
Prepaid expenses and other	127	96	100	88	79
Total current assets	2,684	2,922	4,242	4,030	2,876
Property and equipment, net	6,626	6,521	6,688	6,896	8,765
Long-term investments	68	0	—	—	—
Restricted cash	97	96	90	128	4
Intangible assets, net	224	255	—	—	—
Operating lease assets	1,778	1,797	1,833	1,853	371
Deferred income taxes, net	409	508	501	0	—
Investments in unconsolidated affiliates	948	648	—	—	—
Other assets	275	232	312	263	207
Total assets	13,108	12,978	13,996	13,415	12,531
Accounts and construction payables	255	205	208	197	171
Customer deposits	570	509	543	506	436
Gaming taxes payable	216	172	173	45	73
Accrued compensation and benefits	246	229	213	187	206
Accrued interest	133	133	142	136	133
Current portion of long-term debt	9	41	710	548	50
Other accrued liabilities	215	251	212	193	219
Total current liabilities	1,643	1,540	2,200	1,811	1,288
Long-term debt	10,537	10,500	11,029	11,569	11,885
Long-term operating lease liabilities	1,629	1,624	1,632	1,615	115
Other long-term liabilities	330	283	236	60	79
Total liabilities	14,139	13,947	15,097	15,055	13,367
Commitments and contingencies (Note 19)	—	—	—	—	—
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	0	0	0	0	0
Common stock, par value $0.01; 400,000,000 shares authorized; 134,326,464 and 133,584,126 shares issued; 103,989,787 and 107,821,567 shares outstanding, respectively	1	1	1	1	1
Treasury stock, at cost; 30,336,677 and 25,762,599 shares, respectively	−2,621	−2,242	−1,836	−1,624	−1,436
Additional paid-in capital	3,802	3,699	3,647	3,584	3,503
Accumulated other comprehensive loss	−3	−6	3	−404,000	6
Accumulated deficit	−1,454	−1,677	−2,067	−2,712	−2,288
Total Wynn Resorts, Limited stockholders' deficit	−275	−224	−251	−751	−214
Noncontrolling interests	−756	−744	−850	−890	−622
Total stockholders' deficit	−1,031	−969	−1,101	−1,640	−836
Total liabilities and stockholders' deficit	13,108	12,978	13,996	13,415	12,531

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	97	−7	−503	3	−3
Stock-based compensation expense	92	59	65	68	95
Amortization of debt issuance costs	40	39	40	29	—
Loss on debt financing transactions	2	3	13	0	2
Change in derivatives fair value	43	−42	−45	−16	−11
Property charges and other	75	106	117	59	64
Receivables, net	−90	13	−124	−9	−29
Inventories, prepaid expenses and other	−11	27	−6	−20	−21
Customer deposits	59	−37	38	70	−208
Accounts payable and accrued expenses	3	−39	94	−97	118
Net cash provided by operating activities	1,353	1,426	1,248	−71	−223
Capital expenditures, net of construction payables and retention	−660	−420	−443	−300	−291
Investments in unconsolidated affiliates	−329	−563	−54	−40	—
Purchase of investments	−669	0	−837	0	0
Proceeds from maturity of investments	0	850	0	0	—
Purchase of intangible and other assets	−457,000	−3	−11	−12	−56
Proceeds from sale of assets and other	2	52	1	1	4
Net cash used in investing activities	−1,657	−84	−1,343	1,349	−342
Proceeds from issuance of long-term debt	1,753	1,884	1,200	211	1,340
Repayments of long-term debt	−1,763	−3,060	−1,533	−50	−2,488
Repurchase of common stock	−380	−402	−212	−187	−14
Proceeds from exercise of stock options	457,000	1	2	0	0
Distribution to noncontrolling interest	−26	−17	−23	−28	−19
Dividends paid	−175	−140	−85	−1	−2
Finance lease payments	−26	−19	−19	−18	−16
Payments for financing costs	−28	−37	−41	−3	−31
Other	−9	−4	−8	0	0
Net cash used in financing activities	−653	−1,794	−719	−24	−388
Effect of exchange rate on cash, cash equivalents and restricted cash	−4	4	282,000	−2	−2
Decrease in cash, cash equivalents and restricted cash	−962	−448	−814	1,252	−955

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