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EX - 99.1 2 ex991 wrlq22021pressrelease.htm EX - 99.1 Exhibit 99.1 Wynn Resorts , Limited Reports Second Quarter 2021 Results LAS VEGAS , August 4 , 2021 - Wynn Resorts , Limited ( NASDAQ : WYNN ) ( the " Company " ) today reported financial results for the quarter ended June 30 , 2021 . Operating revenues were $ 990.1 million for the second quarter of 2021 , an increase of $ 904.4 million , from $ 85.7 million for the second quarter of 2020. Net loss attributable to Wynn Resorts , Limited was $ 131.4 million , or $ 1.15 per diluted share , for the second quarter of 2021 , compared to net loss attributable to Wynn Resorts , Limited of $ 637.6 million , or $ 5.97 per diluted share , in the second quarter of 2020. Net loss attributable to Wynn Resorts , Limited for the second quarter of 2020 excluded the impact of $ 75.7 million of expense related to our commitment to pay salary , tips , and benefits continuation for all of our U.S. employees for the period from April 1 through May 15 , 2020 , which we accrued during the first quarter of 2020. Adjusted Property EBITDA ( 1 ) at our integrated resort properties increased $ 164.5 million , $ 96.7 million , $ 208.8 million , and $ 100.7 million at Wynn Palace , Wynn Macau , our Las Vegas Operations , and Encore Boston Harbor , respectively , when compared with the second quarter of 2020 . " We were pleased to see the strong return of our guests at both Wynn Las Vegas and Encore Boston Harbor during the second quarter with Adjusted Property EBITDA at our U.S. operations well above pre - pandemic levels , highlighting the significant pent - up demand for travel and leisure experiences , " said Matt Maddox , CEO of Wynn Resorts , Limited . " While there have been some fits and starts along the road to recovery in Macau , we were encouraged by the strong demand we experienced during the May holiday period , particularly in our premium mass casino and luxury retail segments . On the development front , our WynnBET online casino and sports betting app is currently available in six states with additional launches planned over the coming months . We continue to enhance our product with frequent new feature releases and are advancing our marketing and branding strategy as we approach the upcoming NFL 2021 season . " Consolidated Results Operating revenues were $ 990.1 million for the second quarter of 2021 , an increase of $ 904.4 million , from $ 85.7 million for the second quarter of 2020. Operating revenues increased $ 261.7 million , $ 172.1 million , $ 290.2 million , and $ 165.0 million at Wynn Palace , Wynn Macau , our Las Vegas Operations , and Encore Boston Harbor , respectively , from the second quarter of 2020 . On a U.S. generally accepted accounting principles ( " GAAP " ) basis , net loss attributable to Wynn Resorts , Limited was $ 131.4 million , or $ 1.15 per diluted share , for the second quarter of 2021 , compared to net loss attributable to Wynn Resorts , Limited of $ 637.6 million , or $ 5.97 per diluted share , in the second quarter of 2020. Adjusted net loss attributable to Wynn Resorts , Limited ( 2 ) was $ 128.7 million , or $ 1.12 per diluted share , for the second quarter of 2021 , compared to adjusted net loss attributable to Wynn Resorts , Limited of $ 655.7 million , or $ 6.14 per diluted share , for the second quarter of 2020 . Adjusted Property EBITDA was $ 206.9 million for the second quarter of 2021. Adjusted Property EBITDA was $ ( 322.9 ) million for the second quarter of 2020 , which excluded the impact of $ 75.7 million of expense related to our commitment to pay salary , tips and benefits continuation for all of our U.S. employees for the period from April 1 through May 15 , 2020 , which was accrued during the first quarter of 2020 . Property Results In response to the initial outbreak of COVID - 19 in early 2020 , each of our properties was subject to partial or full closure for varying lengths of time during 2020 , and each has since reopened with certain COVID - 19 specific protective measures in place . On August 3 , 2021 , in response to a risk of a community outbreak , the government of Macau has announced enhanced measures including tighter border control and strict mandatory COVID - 19 testing requirements . We are currently unable to determine when and what additional measures may be introduced . On May 3 , 2021 , the Company's Las Vegas Operations were permitted by the Nevada Gaming Control Board to reopen all gaming areas to 100 % of capacity , with no continuing table game or slot machine spacing restrictions . On July 27 , 2021 , the Governor of Nevada issued an emergency directive , in accordance with new recommendations from the Centers for Disease Control , re - imposing mask protection requirements in all public indoor areas effective July 30 , 2021. On April 27 , 2021 , the Governor of Massachusetts announced a phased plan for further reopening and on May 28 , 2021 signed an executive order rescinding the COVID - related restrictions and limitations on businesses as of May 29 , 2021. The Encore Boston Harbor property continues to operate its hotel tower Thursday through Sunday .