WYNN RESORTS Reports Strong Second Quarter Earnings for 2023

☀️Earnings Overview

WYNN RESORTS ($NASDAQ:WYNN) announced their second quarter fiscal year 2023 earnings results on June 30 2023, showing a total revenue of USD 1595.8 million – a 75.6% increase from the same period of the previous year. Net income had also increased 180.9%, totalling USD 105.2 million.

Stock Price

The company’s stock opened at $104.9 and closed at $101.6, down by 1.5% from its last closing price of 103.1. This indicates a healthy growth trend in the company’s operations, as it shows that customers are continuing to spend more on its products and services. WYNN RESORTS also saw an increase in hotel occupancy, with average daily rate rising by 3%. The results were a welcome surprise for investors, who had been expecting a slight decrease in earnings for the quarter due to the pandemic-induced economic slowdown. Looking ahead, WYNN RESORTS is optimistic about the future.

The company plans to invest in new projects and expand its presence in the gaming industry, which should further boost its financial performance over the long term. With the strong second quarter earnings, WYNN RESORTS has clearly demonstrated its potential to grow and succeed in an increasingly competitive market. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Wynn Resorts. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Wynn Resorts. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Wynn Resorts. More…

Key Ratios Snapshot

Some of the financial key ratios for Wynn Resorts are shown below. More…

Analysis

GoodWhale has conducted an analysis of WYNN RESORTS‘s wellbeing. We have classified the company as a ‘cheetah’ based on its Star Chart. This type of company typically has high revenue or earnings growth, but is considered less stable due to lower profitability. This makes it an attractive option for investors who are looking for fast returns, but are also willing to accept higher risks. Our analysis of WYNN RESORTS has shown that the company is strong in revenue, medium in profitability, and weak in asset, dividend and growth. This, combined with its low health score of 3/10 based on cashflows and debt, makes it less likely to safely ride out any crisis without the risk of bankruptcy. Investing in WYNN RESORTS therefore requires investors to be willing to take on higher risks for potentially higher returns. 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

Investors should take a close look at Wynn Resorts after their strong second quarter earnings report. They reported record revenue of USD 1595.8 million, a 75.6% increase year-over-year, and net income of USD 105.2 million, a 180.9% increase. This marks a significant turnaround for the company, who struggled in the last few quarters. These results show that the company’s investments are paying off, and potential investors should consider investing in Wynn Resorts for the potential growth and dividends it can provide.