WYNN Wynn Resorts Ltd

Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the third quarter ended September 30, 2017.

Net revenues were $1.61 billion for the third quarter of 2017, an increase of 45.3%, or $502.5 million, from $1.11 billion for the same period of 2016. The increase was the result of an increase of $390.7 million from Wynn Palace, which opened in the third quarter of 2016, and increases of $79.3 million and $32.5 million from Wynn Macau and our Las Vegas Operations, respectively.

On a U.S. generally accepted accounting principles ("GAAP") basis, net income attributable to Wynn Resorts, Limited was $79.8 million, or $0.78 per diluted share, for the third quarter of 2017, compared to a net loss attributable to Wynn Resorts, Limited of $17.4 million, or $0.17 per diluted share, for the same period of 2016. The increase in net income attributable to Wynn Resorts, Limited was primarily the result of a full quarter of income from Wynn Palace and increased operating income from Wynn Macau and Wynn Las Vegas, partially offset by a loss on extinguishment of debt, an increase in net income attributable to noncontrolling interests and an increase in property charges and other. Property charges and other during the third quarter of 2017 included $19.1 million of estimated costs primarily related to property damage caused by a typhoon that impacted Macau during the quarter. Adjusted net income attributable to Wynn Resorts, Limited (1) was $155.8 million, or $1.52 per diluted share, for the third quarter of 2017, compared to $75.5 million, or $0.74 per diluted share, for the same period of 2016.

Adjusted Property EBITDA (2) was $473.0 million for the third quarter of 2017, an increase of 54.8%, or $167.5 million, from $305.4 million for the same period of 2016, the result of increases of $112.7 million, $32.2 million and $22.6 million from Wynn Palace, Wynn Macau and our Las Vegas Operations, respectively.

Wynn Resorts, Limited also announced today that the Company has approved a cash dividend of $0.50 per share, payable on November 28, 2017 to stockholders of record as of November 16, 2017.

Wynn Macau

Net revenues from Wynn Macau were $597.4 million for the third quarter of 2017, a 15.3% increase from $518.1 million for the same period of 2016. Adjusted Property EBITDA from Wynn Macau was $183.2 million for the third quarter of 2017, a 21.3% increase from $151.0 million for the same period of 2016.

Casino revenues from Wynn Macau were $567.7 million for the third quarter of 2017, a 16.2% increase from $488.3 million for the same period of 2016. Table games turnover in VIP operations was $13.37 billion, a 22.2% increase from $10.94 billion for the third quarter of 2016. VIP table games win as a percentage of turnover (calculated before commissions) was 3.37%, above the expected range of 2.7% to 3.0% and the 3.34% experienced in the third quarter of 2016. Table drop in mass market operations was $1.07 billion, a 3.2% decrease from $1.11 billion for the third quarter of 2016. Table games win in mass market operations was $216.4 million, a 5.5% increase from $205.2 million for the third quarter of 2016. Table games win percentage in mass market operations was 20.2%, compared to 18.6% experienced in the third quarter of 2016. Slot machine handle was $864.6 million, a 26.9% increase from $681.6 million for the third quarter of 2016, while slot machine win increased 21.1% to $35.5 million.

Non-casino revenues before promotional allowances from Wynn Macau were $62.2 million for the third quarter of 2017, a 2.3% decrease from $63.7 million for the same period of 2016. Room revenues decreased 7.9%, to $24.1 million for the third quarter of 2017, from $26.2 million for the same period of 2016. Average daily rate ("ADR") was $246, an 8.9% decrease from $270 for the third quarter of 2016. Occupancy increased to 97.3% for the third quarter of 2017, from 95.1% for the same period of 2016. Revenue per available room ("REVPAR") was $240, a 6.6% decrease from $257 for the third quarter of 2016.

Wynn Palace

The reported financial results for the third quarter of 2016 include 40 days of operations of Wynn Palace, which opened on August 22, 2016.

Net revenues from Wynn Palace were $555.3 million for the third quarter of 2017, compared to $164.6 million for the same period of 2016. Adjusted Property EBITDA from Wynn Palace was $138.2 million for the third quarter of 2017, compared to $25.5 million for the same period of 2016.

Casino revenues from Wynn Palace were $514.5 million for the third quarter of 2017, compared to $146.7 million for the same period of 2016. Table games turnover in VIP operations was $13.69 billion, compared to $4.15 billion for the third quarter of 2016. VIP table games win as a percentage of turnover was 2.99%, within the expected range of 2.7% to 3.0% and above the 2.90% experienced in the third quarter of 2016. Table drop in mass market operations was $866.6 million, compared to $275.9 million for the third quarter of 2016. Table games win in mass market operations was $194.3 million, compared to $51.5 million for the third quarter of 2016. Table games win percentage in mass market operations was 22.4%, compared to 18.7% experienced in the third quarter of 2016. Slot machine handle was $817.5 million, compared to $204.5 million for the third quarter of 2016, while slot machine win increased from $12.6 million to $42.0 million in the third quarter of 2017.

Non-casino revenues before promotional allowances from Wynn Palace were $79.4 million for the third quarter of 2017, compared to $33.9 million for the same period of 2016. Room revenues were $32.9 million for the third quarter of 2017, compared to $14.2 million for the same period of 2016. ADR was $219, a 23.7% decrease from $287 for the third quarter of 2016. Occupancy increased to 96.1% for the third quarter of 2017, from 70.8% for the same period of 2016. REVPAR was $211, a 3.9% increase from $203 for the third quarter of 2016.

Las Vegas Operations

Net revenues from our Las Vegas Operations were $459.6 million for the third quarter of 2017, a 7.6% increase from $427.1 million for the same period of 2016. Adjusted Property EBITDA from our Las Vegas Operations was $151.5 million, a 17.6% increase from $128.9 million for the third quarter of 2016.

Casino revenues from our Las Vegas Operations were $174.4 million for the third quarter of 2017, a 13.9% increase from $153.2 million for the same period of 2016. Table games drop was $496.2 million, a 2.7% increase from $483.4 million for the third quarter of 2016. Table games win was $132.2 million, a 10.8% increase from $119.4 million for the third quarter of 2016. Table games win percentage was 26.6%, above the property’s expected range of 21% to 25% and the 24.7% experienced in the third quarter of 2016. Slot machine handle was $819.5 million, a 0.1% increase from $818.7 million for the third quarter of 2016, while slot machine win increased 13.6% to $59.6 million.

Non-casino revenues before promotional allowances from our Las Vegas Operations were $329.8 million for the third quarter of 2017, a 4.3% increase from $316.3 million for the same period of 2016. Room revenues increased 5.3%, to $118.1 million for the third quarter of 2017, from $112.2 million for the same period of 2016. ADR was $299, a 3.8% increase from $288 for the third quarter of 2016. Occupancy increased to 91.4% for the third quarter of 2017, from the 90.0% experienced in the same period of 2016. REVPAR was $273, a 5.4% increase from $259 for the third quarter of 2016. Food and beverage revenues increased 6.6%, to $154.8 million for the third quarter of 2017, compared to the same period of 2016. Entertainment, retail and other revenues decreased 3.3%, to $57.0 million for the third quarter of 2017, compared to the same period of 2016.

Wynn Boston Harbor Project in Massachusetts

The Company is currently constructing Wynn Boston Harbor, an integrated resort in Everett, Massachusetts, located adjacent to Boston along the Mystic River. The resort will contain a hotel, a waterfront boardwalk, meeting and convention space, casino space, a spa, retail offerings and food and beverage outlets. The total project budget, including gaming license fees, construction costs, capitalized interest, pre-opening expenses and land costs, is estimated to be approximately $2.4 billion. As of September 30, 2017, we have incurred $935.6 million in total project costs. We expect to open Wynn Boston Harbor in mid-2019.

Balance Sheet

During the quarter, Wynn Macau, Limited completed a cash tender offer for $946.4 million principal amount of the $1.35 billion 5 1/4% Senior Notes due 2021 (the “2021 Notes”) and on October 20, 2017 redeemed the remaining untendered $403.6 million principal amount. In connection with these transactions, Wynn Macau, Limited issued $600 million 4 7/8% Senior Notes due 2024 and $750 million 5 1/2% Senior Notes due 2027, and used the net proceeds to cover the majority of the cost of extinguishing the 2021 Notes. As a result of these transactions, the Company recorded a $20.8 million loss on extinguishment of debt during the third quarter of 2017.

Our cash and cash equivalents, restricted cash and investment securities at September 30, 2017 were $3.26 billion and included $403.6 million that was used to redeem the remaining principal amount of the untendered 2021 Notes on October 20, 2017.

Total debt outstanding at the end of the quarter was $10.18 billion, including $4.15 billion of Macau related debt, $3.16 billion of Wynn Las Vegas debt and $2.87 billion at the parent company and other. Our Macau related debt at the end of the quarter includes the $403.6 million principal amount of untendered 2021 Notes that was redeemed on October 20, 2017.

Conference Call and Other Information

The Company will hold a conference call to discuss its results, including the results of Wynn Las Vegas, LLC, on October 26, 2017 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 November 8, 2017, the Company will make Wynn Las Vegas, LLC financial information for the quarter ended September 30, 2017 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, our dependence on Stephen A. Wynn, general global political and economic 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, extensive regulation of our business, pending or future legal proceedings, 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, 2016 and the Company’s other periodic reports filed with the Securities and Exchange Commission. 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.

Non-GAAP Financial Measures

(1) “Adjusted net income attributable to Wynn Resorts, Limited” is net income (loss) attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other, change in interest rate swap fair value, change in Redemption Note fair value, loss on extinguishment of debt, foreign currency remeasurement gain (loss), net of noncontrolling interests and taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income 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 income and earnings per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income 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.

(2) “Adjusted Property EBITDA” is net income (loss) before interest, taxes, depreciation and amortization, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course and water rights leases), stock-based compensation, loss on extinguishment of debt, change in interest rate swap fair value, change in Redemption Note fair value and other non-operating income and expenses, and includes equity in income from unconsolidated affiliates. Adjusted Property EBITDA 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 EBITDA 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. The Company also presents Adjusted Property EBITDA because it is used by some investors as a way to measure a company’s ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDA as a supplement to GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including Wynn Resorts, Limited, have historically excluded from their EBITDA 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 EBITDA should not be considered as an alternative to operating income as an indicator of the Company’s 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, Adjusted Property EBITDA does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, Wynn Resorts’ calculation of Adjusted Property EBITDA 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 attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDA, and (iii) net income (loss) attributable to Wynn Resorts, Limited to Adjusted Property EBITDA.

           

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, 2017       2016 2017       2016 Operating revenues: Casino $ 1,256,602 $ 788,219 $ 3,574,059 $ 2,263,608 Rooms 175,108 152,608 531,558 431,047 Food and beverage 190,854 167,997 537,807 469,072 Entertainment, retail and other 105,500   93,230   310,636   257,256   Gross revenues 1,728,064 1,202,054 4,954,060 3,420,983 Less: promotional allowances (115,733 ) (92,232 ) (336,788 ) (255,119 ) Net revenues 1,612,331   1,109,822   4,617,272   3,165,864   Operating expenses: Casino 799,978 505,620 2,303,435 1,428,532 Rooms 44,070 40,188 134,394 115,937 Food and beverage 113,452 109,333 323,840 294,480 Entertainment, retail and other 44,159 40,153 129,986 116,126 General and administrative 178,506 144,206 502,637 381,156 (Benefit) provision for doubtful accounts 1,656 (2,368 ) (4,593 ) 816 Pre-opening 6,908 70,778 19,445 150,496 Depreciation and amortization 137,982 106,467 415,488 264,187 Property charges and other 28,293   18,514   38,494   31,366   Total operating expenses 1,355,004   1,032,891   3,863,126   2,783,096   Operating income 257,327   76,931   754,146   382,768   Other income (expense): Interest income 8,447 3,678 21,998 9,940 Interest expense, net of amounts capitalized (95,874 ) (79,669 ) (291,875 ) (193,698 ) Change in interest rate swap fair value (2 ) 1,168 (1,056 ) (1,693 ) Change in Redemption Note fair value (41,718 ) (22,218 ) (69,982 ) (19,239 ) Loss on extinguishment of debt (20,774 ) — (43,061 ) — Equity in income from unconsolidated affiliates — — — 16 Other (1,894 ) 899   (19,840 ) (1,046 ) Other income (expense), net (151,815 ) (96,142 ) (403,816 ) (205,720 ) Income (loss) before income taxes 105,512 (19,211 ) 350,330 177,048 Benefit (provision) for income taxes 457   (120 ) (5,040 ) (1,145 ) Net income (loss) 105,969 (19,331 ) 345,290 175,903 Less: net (income) loss attributable to noncontrolling interests (26,202 ) 1,894   (89,791 ) (47,728 ) Net income (loss) attributable to Wynn Resorts, Limited $ 79,767   $ (17,437 ) $ 255,499   $ 128,175   Basic and diluted income (loss) per common share: Net income (loss) attributable to Wynn Resorts, Limited: Basic $ 0.78 $ (0.17 ) $ 2.51 $ 1.26 Diluted $ 0.78 $ (0.17 ) $ 2.49 $ 1.26 Weighted average common shares outstanding: Basic 102,173 101,439 101,960 101,423 Diluted 102,794 101,439 102,460 101,835 Dividends declared per common share: $ 0.50 $ 0.50 $ 1.50 $ 1.50                

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED

TO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED

(in thousands, except per share data)

(unaudited)

  Three Months Ended September 30, Nine Months Ended September 30, 2017       2016 2017       2016 Net income (loss) attributable to Wynn Resorts, Limited $ 79,767 $ (17,437 ) $ 255,499 $ 128,175 Pre-opening expenses 6,908 70,778 19,445 150,496 Property charges and other 28,293 18,514 38,494 31,366 Change in interest rate swap fair value 2 (1,168 ) 1,056 1,693 Change in Redemption Note fair value 41,718 22,218 69,982 19,239 Loss on extinguishment of debt 20,774 — 43,061 — Foreign currency remeasurement (gain) loss 1,894 (899 ) 19,840 1,046 Income tax impact on adjustments (9,983 ) 1,681 (11,753 ) 1,598 Noncontrolling interests impact on adjustments (13,556 ) (18,153 ) (19,483 ) (38,472 ) Adjusted net income attributable to Wynn Resorts, Limited $ 155,817   $ 75,534   $ 416,141   $ 295,141   Adjusted net income attributable to Wynn Resorts, Limited per diluted share $ 1.52   $ 0.74   $ 4.06   $ 2.90     Weighted average common shares outstanding - diluted 102,794 101,917 102,460 101,835          

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

  Three Months Ended September 30, 2017

Operating

income

(loss)

   

Pre-opening

expenses

   

Depreciation

and

amortization

   

Property

charges and

other

   

Management

and license

fees

   

Corporate

expense

and other

   

Stock-based

compensation

   

Adjusted

Property

EBITDA

Macau Operations: Wynn Macau $ 124,566 $ — $ 24,734 $ 6,396 $ 23,099 $ 2,384 $ 2,040 $ 183,219 Wynn Palace 28,432 — 65,062 19,493 21,769 2,198 1,274 138,228 Other Macau (6,551 ) —   1,115   157   —   5,111   168   — Total Macau Operations 146,447 — 90,911 26,046 44,868 9,693 3,482 321,447 Las Vegas Operations 76,785 237 44,549 2,247 22,513 4,740 438 151,509 Corporate and Other 34,095   6,671   2,522   —   (67,381 ) 17,510   6,583   — Total $ 257,327   $ 6,908   $ 137,982   $ 28,293   $ —   $ 31,943   $ 10,503   $ 472,956     Three Months Ended September 30, 2016

Operating

income

(loss)

Pre-opening

expenses

Depreciation

and

amortization

Property

charges and

other

Management

and license

fees

Corporate

expense

and other

Stock-based

compensation

Adjusted

Property

EBITDA

Macau Operations: Wynn Macau $ 99,461 $ — $ 24,687 $ 1,758 $ 20,018 $ 2,751 $ 2,334 $ 151,009 Wynn Palace (79,226 ) 65,548 31,561 8 6,554 847 255 25,547 Other Macau (4,884 ) —   902   —   —   5,186   (1,204 ) — Total Macau Operations 15,351 65,548 57,150 1,766 26,572 8,784 1,385 176,556 Las Vegas Operations 46,960 64 46,403 16,748 13,441 4,634 629 128,879 Corporate and Other 14,620   5,166   2,914   —   (40,013 ) 11,279   6,034   — Total $ 76,931   $ 70,778   $ 106,467   $ 18,514   $ —   $ 24,697   $ 8,048   $ 305,435          

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

  Nine Months Ended September 30, 2017

Operating

income

(loss)

   

Pre-opening

expenses

   

Depreciation

and

amortization

   

Property

charges and

other

   

Management

and license

fees

   

Corporate

expense

and other

   

Stock-based

compensation

   

Adjusted

Property

EBITDA

Macau Operations: Wynn Macau $ 406,418 $ — $ 74,043 $ 7,932 $ 72,727 $ 7,586 $ 6,017 $ 574,723 Wynn Palace 56,443 — 193,749 20,253 56,520 6,744 3,778 337,487 Other Macau (12,515 ) —   3,376   163   —   8,480   496   — Total Macau Operations 450,346 — 271,168 28,348 129,247 22,810 10,291 912,210 Las Vegas Operations 205,119 748 136,561 9,657 47,246 17,583 1,382 418,296 Corporate and Other 98,681   18,697   7,759   489   (176,493 ) 33,250   17,617   — Total $ 754,146   $ 19,445   $ 415,488   $ 38,494   $ —   $ 73,643   $ 29,290   $ 1,330,506     Nine Months Ended September 30, 2016

Operating

income

(loss)

Pre-opening

expenses

Depreciation

and

amortization

Property

charges and

other

Management

and license

fees

Corporate

expense

and other

Stock-based

compensation

Adjusted

Property

EBITDA

Macau Operations: Wynn Macau $ 369,490 $ — $ 74,530 $ 4,206 $ 67,154 $ 9,196 $ 8,067 $ 532,643 Wynn Palace (154,602 ) 131,144 41,162 187 6,554 847 255 25,547 Other Macau (14,022 ) —   2,379   —   —   10,667   976   — Total Macau Operations 200,866 131,144 118,071 4,393 73,708 20,710 9,298 558,190 Las Vegas Operations 138,333 2,199 137,349 26,989 38,963 14,324 2,036 360,193 Corporate and Other 43,569   17,153   8,767   —   (112,671 ) 25,660   17,522   — Total $ 382,768   $ 150,496   $ 264,187   $ 31,382   $ —   $ 60,694   $ 28,856   $ 918,383                

WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO ADJUSTED PROPERTY EBITDA

(in thousands)

(unaudited)

  Three Months Ended September 30, Nine Months Ended September 30, 2017       2016 2017       2016 Net income (loss) attributable to Wynn Resorts, Limited $ 79,767 $ (17,437 ) $ 255,499 $ 128,175 Net income (loss) attributable to noncontrolling interests 26,202 (1,894 ) 89,791 47,728 Pre-opening expenses 6,908 70,778 19,445 150,496 Depreciation and amortization 137,982 106,467 415,488 264,187 Property charges and other 28,293 18,514 38,494 31,366 Corporate expense and other 31,943 24,697 73,643 60,694 Stock-based compensation 10,503 8,048 29,290 28,856 Interest income (8,447 ) (3,678 ) (21,998 ) (9,940 ) Interest expense, net of amounts capitalized 95,874 79,669 291,875 193,698 Change in interest rate swap fair value 2 (1,168 ) 1,056 1,693 Change in Redemption Note fair value 41,718 22,218 69,982 19,239 Loss on extinguishment of debt 20,774 — 43,061 — Other expenses 1,894 (899 ) 19,840 1,046 (Benefit) provision for income taxes (457 ) 120   5,040   1,145   Adjusted Property EBITDA $ 472,956   $ 305,435   $ 1,330,506   $ 918,383                  

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, 2017       2016 2017       2016 Macau Operations: Wynn Macau: VIP: Average number of table games 96 142 93 171 VIP turnover $ 13,373,060 $ 10,941,100 $ 42,680,904 $ 36,252,239 VIP table games win $ 451,136 $ 365,047 $ 1,456,139 $ 1,214,675 VIP table games win as a % of turnover 3.37 % 3.34 % 3.41 % 3.35 % Table games win per unit per day (1) $ 51,324 $ 28,003 $ 57,095 $ 25,871 Mass market: Average number of table games 206 201 205 228 Table drop (2) $ 1,070,119 $ 1,105,938 $ 3,274,733 $ 3,489,272 Table games win $ 216,439 $ 205,179 $ 650,911 $ 687,876 Table games win % 20.2 % 18.6 % 19.9 % 19.7 % Table games win per unit per day (1) $ 11,408 $ 11,089 $ 11,637 $ 11,008 Average number of slot machines 918 804 907 787 Slot machine handle $ 864,553 $ 681,552 $ 2,589,125 $ 2,584,342 Slot machine win $ 35,522 $ 29,327 $ 113,607 $ 113,098 Slot machine win per unit per day (3) $ 421 $ 396 $ 459 $ 524 Room statistics: Occupancy 97.3 % 95.1 % 96.9 % 93.8 % ADR (4) $ 246 $ 270 $ 256 $ 304 REVPAR (5) $ 240 $ 257 $ 248 $ 286   Wynn Palace (6): VIP: Average number of table games 106 72 101 72 VIP turnover $ 13,694,250 $ 4,150,448 $ 36,340,603 $ 4,150,448 VIP table games win $ 409,648 $ 120,455 $ 997,031 $ 120,455 VIP table games win as a % of turnover 2.99 % 2.90 % 2.74 % 2.90 % Table games win per unit per day (1) $ 42,015 $ 42,117 $ 36,290 $ 42,117 Mass market: Average number of table games 201 274 205 274 Table drop (2) $ 866,637 $ 275,898 $ 2,365,661 $ 275,898 Table games win $ 194,294 $ 51,525 $ 530,668 $ 51,525 Table games win % 22.4 % 18.7 % 22.4 % 18.7 % Table games win per unit per day (1) $ 10,491 $ 4,702 $ 9,507 $ 4,702 Average number of slot machines 1,100 1,132 1,041 1,132 Slot machine handle $ 817,543 $ 204,515 $ 2,132,973 $ 204,515 Slot machine win $ 41,965 $ 12,610 $ 110,712 $ 12,610 Slot machine win per unit per day (3) $ 415 $ 279 $ 390 $ 279 Room statistics: Occupancy 96.1 % 70.8 % 96.0 % 70.8 % ADR (4) $ 219 $ 287 $ 237 $ 287 REVPAR (5) $ 211 $ 203 $ 227 $ 203                

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, 2017       2016 2017       2016 Las Vegas Operations: Average number of table games 237 234 236 236 Table drop (2) $ 496,233 $ 483,382 $ 1,374,167 $ 1,385,963 Table games win $ 132,227 $ 119,388 $ 364,374 $ 340,572 Table games win % 26.6 % 24.7 % 26.5 % 24.6 % Table games win per unit per day (1) $ 6,065 $ 5,552 $ 5,657 $ 5,264 Average number of slot machines 1,849 1,890 1,864 1,888 Slot machine handle $ 819,462 $ 818,719 $ 2,350,162 $ 2,286,559 Slot machine win $ 59,605 $ 52,460 $ 162,340 $ 150,786 Slot machine win per unit per day (3) $ 350 $ 302 $ 319 $ 291 Room statistics: Occupancy 91.4 % 90.0 % 88.5 % 85.7 % ADR (4) $ 299 $ 288 $ 305 $ 298 REVPAR (5) $ 273 $ 259 $ 270 $ 255   (1) Table games win per unit per day is shown before discounts and commissions, as applicable. (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. (3) Slot machine win per unit per day 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 the retail value of promotional allowances (less service charges, if any) by total rooms occupied including complimentary rooms. (5) REVPAR is revenue per available room and is calculated by dividing total room revenues including the retail value of promotional allowances (less service charges, if any) by total rooms available. (6) Wynn Palace opened on August 22, 2016.  

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Wynn Resorts, LimitedRobert Amerine, 702-770-7555investorrelations@wynnresorts.com