Wynn Resorts has reported its financial results for the fourth quarter and full year ended December 31, 2018, showing operating revenues ahead by 4.0% to $1.69bn year-on-year in the fourth quarter of 2018. Operating revenues from Wynn Palace and Las Vegas operations increased $84m and $11.7m, respectively, offset by a decrease of $30.3m at Wynn Macau.
In the fourth quarter of 2018, Adjusted Property EBITDA increased 4.0%, to $499.4m, compared to $480.2m in the fourth quarter of 2017. Adjusted Property EBITDA from Wynn Palace and Las Vegas operations increased $36.5m and $1.1m, respectively, offset by a decrease of $18.5m from Wynn Macau.
In the full year of 2018, operating revenues increased 10.7%, or $647.5m, to $6.72bn, compared to $6.07bn in the year ended December 31, 2017. Operating revenues increased $727.3m at Wynn Palace, partially offset by decreases of $42.4m and $37.4m from Wynn Macau and Las Vegas Operations, respectively.
Focusing on its Vegas performance, Wynn told investors: “Operating revenues from our Las Vegas operations were $393.6m for the fourth quarter of 2018, a 3.1% increase from $382m for the same period of 2017. Adjusted Property EBITDA from our Las Vegas operations was $105.2m, a 1.1% increase from $104.1m for the same period of 2017.
“Casino revenues from our Las Vegas operations were $104.8m for the fourth quarter of 2018, a 3.5% increase from $101.2m for the same period of 2017. Table drop was $508.5m, an 18.0% increase from $430.8m for the fourth quarter of 2017. Table games win increased 12.4% to $113.9m for the fourth quarter of 2018, compared to $101.3m for the same period of 2017.
“Table games win percentage was 22.4%, within the expected range of 22% to 26% and a decrease from the tables games win percentage of 23.5% experienced in the fourth quarter of 2017. Slot machine handle was $904.4m, an 8.5% increase from $833.2m for the fourth quarter of 2017. Slot machine win increased 3.3% to $58.4m for the fourth quarter of 2018, compared to $56.6m for the fourth quarter of 2017.”