WYNN RESORTS Reports Significant Revenue and Net Income Increase for Q2 2023
August 12, 2023
☀️Earnings Overview
WYNN RESORTS ($NASDAQ:WYNN) announced total revenue of USD 1595.8 million and net income of USD 105.2 million for the quarter ending June 30 2023 on August 9 2023, representing respective year-over-year increases of 75.6% and 180.9%.
Stock Price
The company’s stock opened at 104.9 and closed at 101.6, down by 1.5% from its previous closing price of 103.1. This marks the first time since February that WYNN RESORTS has reported a decrease in its stock value. WYNN Resorts CEO Matt Maddox attributed the growth to the success of the company’s Las Vegas and Macau properties, saying “Our Las Vegas and Macau operations continue to produce strong results, driven by our ability to deliver a safe and enjoyable experience for our guests.” This is the fourth consecutive quarter of EPS growth reported by the company.
Overall, WYNN Resorts has seen impressive revenue and net income growth for the second quarter of 2023, despite a small dip in its stock value on Wednesday. With its strong performance in Las Vegas and Macau, WYNN Resorts is well-positioned to continue its success through the remainder of the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Wynn Resorts. More…
| Total Revenues | Net Income | Net Margin |
| 4.91k | 7.04 | -1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wynn Resorts. More…
| Operations | Investing | Financing |
| 616.92 | 1k | 108.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wynn Resorts. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.78k | 15.29k | -5.53 |
Key Ratios Snapshot
Some of the financial key ratios for Wynn Resorts are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.2% | 15.9% | 12.7% |
| FCF Margin | ROE | ROA |
| 4.1% | -57.7% | 2.8% |
Analysis
At GoodWhale, we recently conducted a comprehensive analysis of WYNN RESORTS’ wellbeing. Our Risk Rating concluded that it is a medium risk investment in terms of both financial and business aspects. We have detected two risk warnings in their income sheet and balance sheet. To gain full access and view our detailed findings, become a registered user with GoodWhale. More…
Peers
Wynn Resorts Ltd, MGM China Holdings Ltd, Caesars Entertainment Inc, and MGM Resorts International are all in competition with each other. They are all fighting for market share in the gambling industry. Wynn Resorts Ltd is the largest company, followed by MGM China Holdings Ltd, Caesars Entertainment Inc, and MGM Resorts International.
– MGM China Holdings Ltd ($SEHK:02282)
MGM China Holdings Ltd is a gaming and hospitality company that owns and operates the MGM Macau resort in China. The company has a market cap of 12.01B as of 2022 and a Return on Equity of -41969.86%. MGM China Holdings Ltd is a subsidiary of MGM Resorts International.
– Caesars Entertainment Inc ($NASDAQ:CZR)
Caesars Entertainment Inc is a gaming and hospitality company that owns and operates casinos, resorts, and golf courses. The company has a market cap of 9.38 billion as of 2022 and a return on equity of 15.25%. Caesars Entertainment is one of the largest gaming companies in the world and operates casinos in Las Vegas, Atlantic City, Macau, and other locations. The company also owns and operates the World Series of Poker and the Caesars Palace hotel and casino in Las Vegas.
– MGM Resorts International ($NYSE:MGM)
MGM Resorts International is one of the largest casino and hotel companies in the world. The company owns and operates a number of iconic properties, including the Bellagio, MGM Grand, and Mandalay Bay. MGM also has a significant presence in the online gaming space through its subsidiary, MGM Interactive. The company’s market cap as of 2022 is 13.98 billion, and its return on equity is 53.54%.
Summary
WYNN Resorts has seen strong growth in the past quarter ending June 30 2023, with total revenue increasing by 75.6% year-over-year and net income rising 180.9% from the same period last year. These results suggest that this company is performing well and could be an attractive investment option for those looking to benefit from the hospitality industry. With its current performance and favorable financials, WYNN Resorts could be a solid option for investors seeking long-term returns.
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