WYNN Wynn Resorts Ltd

Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the second quarter ended June 30, 2018. The results reflect the Company’s adoption of the new revenue recognition standard ("ASC 606"), effective January 1, 2018. Certain prior period amounts have been adjusted to reflect the full retrospective adoption of ASC 606, with no impact on operating income, net income or Adjusted Property EBITDA (1).

Operating revenues were $1.61 billion for the second quarter of 2018, an increase of 9.0%, or $132.5 million, from $1.47 billion for the same period of 2017. Operating revenues from Wynn Palace and our Las Vegas Operations increased $224.2 million and $3.5 million, respectively, compared to the same period of 2017. These increases were offset by a decrease of $95.2 million from Wynn Macau.

On a U.S. generally accepted accounting principles ("GAAP") basis, net income attributable to Wynn Resorts, Limited was $155.8 million, or $1.44 per diluted share, for the second quarter of 2018, compared to $74.9 million, or $0.73 per diluted share, for the same period of 2017. The increase in net income attributable to Wynn Resorts, Limited was primarily due to an increase in operating income from Wynn Palace. Adjusted net income attributable to Wynn Resorts, Limited (2) was $166.2 million, or $1.53 per diluted share, for the second quarter of 2018, compared to $129.4 million, or $1.26 per diluted share, for the same period of 2017.

Adjusted Property EBITDA was $476.4 million for the second quarter of 2018, an increase of 10.8%, or $46.3 million, from $430.0 million for the same period of 2017. Adjusted Property EBITDA from Wynn Palace increased $91.9 million compared to the same period of 2017. This increase was offset by decreases of $37.5 million and $8.1 million from Wynn Macau and our Las Vegas Operations, respectively.

Wynn Resorts, Limited also announced today that the Company has approved a cash dividend of $0.75 per share, payable on August 28, 2018 to stockholders of record as of August 16, 2018.

Macau Operations

Wynn Macau

Operating revenues from Wynn Macau were $543.3 million for the second quarter of 2018, a 14.9% decrease from $638.5 million for the same period of 2017. Adjusted Property EBITDA from Wynn Macau was $172.9 million for the second quarter of 2018, a 17.8% decrease from $210.4 million for the same period of 2017.

Casino revenues from Wynn Macau were $473.3 million for the second quarter of 2018, an 18.1% decrease from $578.1 million for the same period of 2017. Table games turnover in VIP operations was $13.93 billion, a 13.1% decrease from $16.02 billion for the same period of 2017. VIP table games win as a percentage of turnover was 2.56%, below the expected range of 2.7% to 3.0% and the 3.53% experienced in the second quarter of 2017. Table drop in mass market operations was $1.29 billion, a 21.1% increase from $1.07 billion for the second quarter of 2017. Table games win in mass market operations was $252.0 million, a 13.8% increase from $221.6 million for the second quarter of 2017. Table games win percentage in mass market operations was 19.5%, below the 20.8% experienced in the second quarter of 2017. Slot machine handle was $963.6 million, an 11.0% increase from $867.9 million for the second quarter of 2017, while slot machine win increased 2.3% to $40.4 million.

Non-casino revenues from Wynn Macau were $70.0 million for the second quarter of 2018, a 15.9% increase from $60.4 million for the same period of 2017. Room revenues were $27.1 million for the second quarter of 2018, a 16.0% increase from $23.3 million for the same period of 2017. Average daily rate ("ADR") was $272, a 15.7% increase from $235 for the second quarter of 2017. Occupancy increased to 99.4% for the second quarter of 2018, from 97.5% for the same period of 2017. Revenue per available room ("REVPAR") was $271, an 18.3% increase from $229 for the second quarter of 2017.

Wynn Palace

Operating revenues from Wynn Palace were $620.6 million for the second quarter of 2018, a 56.6% increase from $396.4 million for the same period of 2017. Adjusted Property EBITDA from Wynn Palace was $179.3 million for the second quarter of 2018, a 105.1% increase from $87.4 million for the same period of 2017.

Casino revenues from Wynn Palace were $525.0 million for the second quarter of 2018, a 62.4% increase from $323.3 million for the same period of 2017. Table games turnover in VIP operations was $14.03 billion, a 20.9% increase from $11.60 billion for the second quarter of 2017. VIP table games win as a percentage of turnover was 3.00%, within the expected range of 2.7% to 3.0% and above the 2.18% experienced in the second quarter of 2017. Table drop in mass market operations was $1.22 billion, a 67.2% increase from $729.0 million for the second quarter of 2017. Table games win in mass market operations was $280.6 million, a 66.3% increase from $168.7 million for the second quarter of 2017. Table games win percentage in mass market operations was 23.0%, slightly below the 23.1% experienced in the second quarter of 2017. Slot machine handle was $941.0 million, a 43.0% increase from $657.9 million for the second quarter of 2017, while slot machine win increased 26.9% to $44.2 million for the second quarter of 2018.

Non-casino revenues from Wynn Palace were $95.6 million for the second quarter of 2018, a 30.6% increase from $73.1 million for the same period of 2017. Room revenues were $40.7 million for the second quarter of 2018, a 46.2% increase from $27.9 million for the same period of 2017. ADR was $254, a 36.6% increase from $186 for the second quarter of 2017. Occupancy was flat at 96.2% for the second quarter of 2018, compared to the same period of 2017. REVPAR was $245, a 37.6% increase from $178 for the second quarter of 2017.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $441.6 million for the second quarter of 2018, a 0.8% increase from $438.0 million for the same period of 2017. Adjusted Property EBITDA from our Las Vegas Operations was $124.2 million, a 6.1% decrease from $132.2 million for the second quarter of 2017.

Casino revenues from our Las Vegas Operations were $101.7 million for the second quarter of 2018, a 1.2% increase from $100.5 million for the same period of 2017. Table games drop was $403.7 million, a 3.7% decrease from $419.3 million for the second quarter of 2017. Table games win was flat at $101.0 million for the second quarter of 2018, compared to the same period of 2017. Table games win percentage was 25.0%, within the expected range of 22% to 26% and above the 24.2% experienced in the second quarter of 2017. Slot machine handle was $778.4 million, a 1.8% increase from $764.8 million for the second quarter of 2017, while slot machine win decreased 6.8% to $49.4 million.

Non-casino revenues from our Las Vegas Operations were $339.8 million for the second quarter of 2018, a 0.7% increase from $337.5 million for the same period of 2017. Room revenues were $118.3 million for the second quarter of 2018, a 4.0% increase from $113.7 million for the same period of 2017. ADR was $313, a 5.0% increase from $298 for the second quarter of 2017. Occupancy decreased to 87.7% for the second quarter of 2018, from 88.7% for the same period of 2017. REVPAR was $274, a 3.4% increase from $265 for the second quarter of 2017. Food and beverage revenues increased 2.3%, to $170.9 million for the second quarter of 2018, compared to the same period of 2017. Entertainment, retail and other revenues decreased 10.7%, to $50.7 million for the second quarter of 2018, compared to the same period of 2017.

Encore Boston Harbor Project in Massachusetts

The Company is currently constructing Encore 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 $2.5 billion. As of June 30, 2018, we have incurred $1.64 billion in total project costs. We expect to open Encore Boston Harbor in mid-2019.

Balance Sheet

Our cash and cash equivalents, restricted cash and investment securities as of June 30, 2018 were $1.58 billion.

Total debt outstanding at the end of the quarter was $8.31 billion, including $4.23 billion of Macau related debt, $3.10 billion of Wynn Las Vegas debt and $985.9 million at the parent company and other.

On July 25, 2018, certain subsidiaries in the Company’s retail joint venture (the “Borrowers”) entered into a $615.0 million term loan agreement (the “Retail Term Loan”). The Borrowers own approximately 162,000 square feet of retail space at Wynn Las Vegas, and each of the Borrowers is a 50.1%-owned subsidiary of the Company, with the other 49.9% owned by Crown Acquisitions Inc. The Retail Term Loan matures in July 2025 and bears interest at LIBOR plus 1.70% per annum. The Borrowers distributed approximately $589 million of the net proceeds of the Retail Term Loan to their members. The Company intends to use its portion of the net proceeds for the construction of Encore Boston Harbor and for other general corporate purposes.

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 August 1, 2018 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 August 8, 2018, the Company will make Wynn Las Vegas, LLC financial information for the quarter ended June 30, 2018 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, controversy, regulatory action, litigation and investigations related to Stephen A. Wynn and his separation from the Company, extensive regulation of our business, pending or future claims and legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, 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, 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, 2017 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 Property EBITDA” is net income before interest, income taxes, depreciation and amortization, litigation settlement expense, 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, gain (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. 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, income 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.

(2) “Adjusted net income attributable to Wynn Resorts, Limited” is net income (loss) attributable to Wynn Resorts, Limited before litigation settlement expense, pre-opening expenses, property charges and other, change in interest rate swap fair value, change in Redemption Note fair value, gain (loss) on extinguishment of debt, foreign currency remeasurement loss, net of noncontrolling interests and income 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 net income (loss) and earnings (loss) 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.

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 SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)(unaudited)

        Three Months Ended June 30, Six Months Ended June 30, 2018   2017 2018   2017 (as adjusted) (as adjusted) Operating revenues: Casino $ 1,100,027 $ 1,001,828 $ 2,342,166 $ 1,991,568 Rooms 186,051 164,940 376,361 333,764 Food and beverage 214,867 204,294 387,089 368,827 Entertainment, retail and other 104,479   101,830   215,386   202,490   Total operating revenues 1,605,424   1,472,892   3,321,002   2,896,649   Operating expenses: Casino 707,194 648,616 1,471,595 1,278,412 Rooms 63,675 62,021 126,872 122,788 Food and beverage 168,296 154,744 305,954 286,512 Entertainment, retail and other 46,589 46,927 94,619 93,992 General and administrative 183,631 164,169 353,216 324,131 Litigation settlement — — 463,557 — Benefit for doubtful accounts (1,390 ) (2,083 ) (699 ) (6,249 ) Pre-opening 11,196 6,758 21,541 12,537 Depreciation and amortization 137,870 137,686 274,227 277,506 Property charges and other 8,791   7,165   11,842   10,201   Total operating expenses 1,325,852   1,226,003   3,122,724   2,399,830   Operating income 279,572   246,889   198,278   496,819   Other income (expense): Interest income 6,861 7,080 14,081 13,551 Interest expense, net of amounts capitalized (89,898 ) (97,739 ) (188,125 ) (196,001 ) Change in interest rate swap fair value — (283 ) — (1,054 ) Change in Redemption Note fair value — (12,417 ) (69,331 ) (28,264 ) Gain (loss) on extinguishment of debt — (22,287 ) 2,329 (22,287 ) Other (957 ) (11,840 ) (10,177 ) (17,947 ) Other income (expense), net (83,994 ) (137,486 ) (251,223 ) (252,002 ) Income (loss) before income taxes 195,578 109,403 (52,945 ) 244,817 Benefit (provision) for income taxes 9,702   (2,607 ) 120,747   (5,497 ) Net income 205,280 106,796 67,802 239,320 Less: net income attributable to noncontrolling interests (49,524 ) (31,880 ) (116,353 ) (63,589 ) Net income (loss) attributable to Wynn Resorts, Limited $ 155,756   $ 74,916   $ (48,551 ) $ 175,731   Basic and diluted income (loss) per common share: Net income (loss) attributable to Wynn Resorts, Limited: Basic $ 1.44 $ 0.73 $ (0.46 ) $ 1.73 Diluted $ 1.44 $ 0.73 $ (0.46 ) $ 1.72 Weighted average common shares outstanding: Basic 107,792 101,944 105,195 101,851 Diluted 108,405 102,494 105,195 102,274 Dividends declared per common share: $ 0.75 $ 0.50 $ 1.25 $ 1.00    

WYNN RESORTS, LIMITED AND SUBSIDIARIESRECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITEDTO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED(in thousands, except per share data)(unaudited)

      Three Months Ended June 30, Six Months Ended June 30, 2018   2017 2018   2017 Net income (loss) attributable to Wynn Resorts, Limited $ 155,756 $ 74,916 $ (48,551 ) $ 175,731 Litigation settlement expense — — 463,557 — Pre-opening expenses 11,196 6,758 21,541 12,537 Property charges and other 8,791 7,165 11,842 10,201 Change in interest rate swap fair value — 283 — 1,054 Change in Redemption Note fair value — 12,417 69,331 28,264 (Gain) loss on extinguishment of debt — 22,287 (2,329 ) 22,287 Foreign currency remeasurement loss 957 11,840 10,177 17,947 Income tax impact on adjustments (8,558 ) (2,439 ) (117,386 ) (1,770 ) Noncontrolling interests impact on adjustments (1,934 ) (3,788 ) (5,002 ) (5,927 ) Adjusted net income attributable to Wynn Resorts, Limited $ 166,208   $ 129,439   $ 403,180   $ 260,324   Adjusted net income attributable to Wynn Resorts, Limited per diluted share $ 1.53   $ 1.26   $ 3.81   $ 2.55     Weighted average common shares outstanding - diluted 108,405 102,494 105,812 102,274    

WYNN RESORTS, LIMITED AND SUBSIDIARIESRECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA(in thousands)(unaudited)

    Three Months Ended June 30, 2018

Operatingincome(loss)

   

Pre-openingexpenses

   

Depreciationandamortization

   

Propertycharges andother

   

Managementand licensefees

   

Corporateexpense andother

   

Stock-basedcompensation

   

AdjustedPropertyEBITDA

Macau Operations: Wynn Macau $ 126,268 $ — $ 21,604 $ 721 $ 20,488 $ 2,224 $ 1,623 $ 172,928 Wynn Palace 82,501 — 64,457 5,633 23,663 2,020 991 179,265 Other Macau (3,176 ) —   1,105   54   —   1,848   169   — Total Macau Operations 205,593 — 87,166 6,408 44,151 6,092 2,783 352,193 Las Vegas Operations 51,150 2 47,579 429 20,299 3,702 996 124,157 Corporate and Other 22,829   11,194   3,125   1,954   (64,450 ) 19,785   5,563   — Total $ 279,572   $ 11,196   $ 137,870   $ 8,791   $ —   $ 29,579   $ 9,342   $ 476,350         Three Months Ended June 30, 2017

Operatingincome(loss)

   

Pre-openingexpenses

   

Depreciationandamortization

   

Propertycharges andother

   

Managementand licensefees

   

Corporateexpense andother

   

Stock-basedcompensation

   

AdjustedPropertyEBITDA

Macau Operations: Wynn Macau $ 153,711 $ — $ 24,600 $ 821 $ 26,818 $ 2,344 $ 2,104 $ 210,398 Wynn Palace 3,140 — 64,092 662 16,080 2,161 1,268 87,403 Other Macau (2,996 ) —   1,130   6   —   1,692   168   — Total Macau Operations 153,855 — 89,822 1,489 42,898 6,197 3,540 297,801 Las Vegas Operations 60,868 272 45,155 5,683 12,263 7,496 473 132,210 Corporate and Other 32,166   6,486   2,709   (7 ) (55,161 ) 7,240   6,567   — Total $ 246,889   $ 6,758   $ 137,686   $ 7,165   $ —   $ 20,933   $ 10,580   $ 430,011    

WYNN RESORTS, LIMITED AND SUBSIDIARIESRECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA(in thousands) (unaudited)(continued)

    Six Months Ended June 30, 2018

Operatingincome(loss)

   

Pre-openingexpenses

   

Depreciationandamortization

   

Propertycharges andother

   

Managementand licensefees

   

Corporateexpense andother

   

Stock-basedcompensation

   

AdjustedPropertyEBITDA

Macau Operations: Wynn Macau $ 285,729 $ — $ 43,774 $ 1,489 $ 43,854 $ 4,088 $ 3,816 $ 382,750 Wynn Palace 201,972 — 128,881 6,660 47,888 3,472 2,303 391,176 Other Macau (7,146 ) —   2,211   63   —   4,538   334   — Total Macau Operations 480,555 — 174,866 8,212 91,742 12,098 6,453 773,926 Las Vegas Operations 123,024 8 93,362 1,758 40,338 6,650 1,613 266,753 Corporate and Other (1) (405,301 ) 21,533   5,999   1,872   (132,080 ) 499,397   8,580   — Total $ 198,278   $ 21,541   $ 274,227   $ 11,842   $ —   $ 518,145   $ 16,646   $ 1,040,679         Six Months Ended June 30, 2017

Operatingincome(loss)

   

Pre-openingexpenses

   

Depreciationandamortization

   

Propertycharges andother

   

Managementand licensefees

   

Corporateexpense andother

   

Stock-basedcompensation

   

AdjustedPropertyEBITDA

Macau Operations: Wynn Macau $ 281,852 $ — $ 49,309 $ 1,536 $ 49,628 $ 5,202 $ 3,977 $ 391,504 Wynn Palace 28,011 — 128,687 760 34,751 4,546 2,504 199,259 Other Macau (5,964 ) —   2,261   6   —   3,369   328   — Total Macau Operations 303,899 — 180,257 2,302 84,379 13,117 6,809 590,763 Las Vegas Operations 128,334 511 92,012 7,410 24,733 12,843 944 266,787 Corporate and Other 64,586   12,026   5,237   489   (109,112 ) 15,740   11,034   — Total $ 496,819   $ 12,537   $ 277,506   $ 10,201   $ —   $ 41,700   $ 18,787   $ 857,550 (1)   Corporate expense and other includes litigation settlement expense of $463.6 million.    

WYNN RESORTS, LIMITED AND SUBSIDIARIESRECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED TOADJUSTED PROPERTY EBITDA(in thousands)(unaudited)

        Three Months Ended June 30, Six Months Ended June 30, 2018   2017 2018   2017   Net income (loss) attributable to Wynn Resorts, Limited $ 155,756 $ 74,916 $ (48,551 ) $ 175,731 Net income attributable to noncontrolling interests 49,524 31,880 116,353 63,589 Litigation settlement expense — — 463,557 — Pre-opening expenses 11,196 6,758 21,541 12,537 Depreciation and amortization 137,870 137,686 274,227 277,506 Property charges and other 8,791 7,165 11,842 10,201 Corporate expense and other 29,579 20,933 54,588 41,700 Stock-based compensation 9,342 10,580 16,646 18,787 Interest income (6,861 ) (7,080 ) (14,081 ) (13,551 ) Interest expense, net of amounts capitalized 89,898 97,739 188,125 196,001 Change in interest rate swap fair value — 283 — 1,054 Change in Redemption Note fair value — 12,417 69,331 28,264 (Gain) loss on extinguishment of debt — 22,287 (2,329 ) 22,287 Other 957 11,840 10,177 17,947 (Benefit) provision for income taxes (9,702 ) 2,607   (120,747 ) 5,497   Adjusted Property EBITDA $ 476,350   $ 430,011   $ 1,040,679   $ 857,550      

WYNN RESORTS, LIMITED AND SUBSIDIARIESSUPPLEMENTAL DATA SCHEDULE(dollars in thousands, except for win per unit per day, ADR and REVPAR)(unaudited)

        Three Months Ended June 30, Six Months Ended June 30, 2018   2017 2018   2017 Macau Operations: Wynn Macau: VIP: Average number of table games 112 98 113 92 VIP turnover $ 13,928,463 $ 16,023,080 $ 31,015,918 $ 29,307,843 VIP table games win (1) $ 357,166 $ 566,091 $ 802,355 $ 1,005,002 VIP table games win as a % of turnover 2.56 % 3.53 % 2.59 % 3.43 % Table games win per unit per day $ 35,044 $ 63,735 $ 39,295 $ 60,129 Mass market: Average number of table games 204 205 203 204 Table drop (2) $ 1,293,154 $ 1,067,718 $ 2,615,969 $ 2,204,614 Table games win (1) $ 252,038 $ 221,567 $ 508,519 $ 434,471 Table games win % 19.5 % 20.8 % 19.4 % 19.7 % Table games win per unit per day $ 13,577 $ 11,903 $ 13,808 $ 11,755 Average number of slot machines 922 917 930 901 Slot machine handle $ 963,635 $ 867,889 $ 1,966,454 $ 1,724,572 Slot machine win (3) $ 40,426 $ 39,531 $ 82,191 $ 78,085 Slot machine win per unit per day $ 482 $ 474 $ 488 $ 479 Room statistics: Occupancy 99.4 % 97.5 % 99.2 % 96.6 % ADR (4) $ 272 $ 235 $ 282 $ 241 REVPAR (5) $ 271 $ 229 $ 279 $ 233   Wynn Palace: VIP: Average number of table games 115 105 115 98 VIP turnover $ 14,029,065 $ 11,604,672 $ 29,414,898 $ 22,646,354 VIP table games win (1) $ 420,181 $ 252,641 $ 820,072 $ 587,383 VIP table games win as a % of turnover 3.00 % 2.18 % 2.79 % 2.59 % Table games win per unit per day $ 40,036 $ 26,541 $ 39,289 $ 33,141 Mass market: Average number of table games 211 202 211 206 Table drop (2) $ 1,218,863 $ 729,006 $ 2,436,064 $ 1,499,024 Table games win (1) $ 280,568 $ 168,746 $ 590,728 $ 336,373 Table games win % 23.0 % 23.1 % 24.2 % 22.4 % Table games win per unit per day $ 14,632 $ 9,203 $ 15,482 $ 9,019 Average number of slot machines 1,069 1,025 1,065 1,011 Slot machine handle $ 940,972 $ 657,850 $ 1,999,068 $ 1,315,430 Slot machine win (3) $ 44,164 $ 34,814 $ 99,949 $ 68,748 Slot machine win per unit per day $ 454 $ 373 $ 518 $ 376 Room statistics: Occupancy 96.2 % 96.2 % 96.5 % 95.9 % ADR (4) $ 254 $ 186 $ 253 $ 190 REVPAR (5) $ 245 $ 178 $ 244 $ 182    

WYNN RESORTS, LIMITED AND SUBSIDIARIESSUPPLEMENTAL DATA SCHEDULE(dollars in thousands, except for win per unit per day, ADR and REVPAR)(continued) (unaudited)

        Three Months Ended June 30, Six Months Ended June 30, 2018   2017 2018   2017 Las Vegas Operations: Average number of table games 236 234 237 235 Table drop (2) $ 403,730 $ 419,338 $ 940,311 $ 877,935 Table games win (1) $ 100,987 $ 101,300 $ 255,420 $ 232,147 Table games win % 25.0 % 24.2 % 27.2 % 26.4 % Table games win per unit per day $ 4,694 $ 4,749 $ 5,950 $ 5,448 Average number of slot machines 1,820 1,836 1,825 1,871 Slot machine handle $ 778,447 $ 764,786 $ 1,522,580 $ 1,530,700 Slot machine win (3) $ 49,418 $ 53,017 $ 98,681 $ 102,735 Slot machine win per unit per day $ 298 $ 317 $ 299 $ 303 Room statistics: Occupancy 87.7 % 88.7 % 85.8 % 87.1 % ADR (4) $ 313 $ 298 $ 326 $ 307 REVPAR (5) $ 274 $ 265 $ 280 $ 268 (1)   Table games win is shown before discounts, commissions and the allocation of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis. (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 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 complimentaries (less service charges, if any) by total rooms occupied. The prior period amounts have been adjusted to reflect the full retrospective adoption of ASC 606. (5) REVPAR is revenue per available room and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms available. The prior period amounts have been adjusted to reflect the full retrospective adoption of ASC 606.

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