Wynn Resorts Files 2024 10-K

TL;DR

Wynn Resorts filed its 2024 10-K. All systems go.

AI Summary

Wynn Resorts Ltd. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Las Vegas, NV, operates within the Hotels & Motels sector. Key financial details and operational metrics for the fiscal year are presented in this comprehensive filing.

Why It Matters

This filing provides investors and analysts with a detailed overview of Wynn Resorts' financial performance and operational status for the 2024 fiscal year, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new risks beyond those typical for the industry.

Key Numbers

• 460484987 — IRS Number (Company Identification)
• 000-50028 — SEC File Number (Company Identification)

Key Players & Entities

• WYNN RESORTS LTD (company) — Filer
• LAS VEGAS (location) — Business Address City
• NV (location) — Business Address State
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-13 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share WYNN Nasdaq Global Select Mar
• $36.5 billion — nformation, annual gaming revenues were $36.5 billion in 2019, before falling to $7.6 billion
• $7.6 billion — 36.5 billion in 2019, before falling to $7.6 billion in 2020, $10.8 billion in 2021, and $5.
• $10.8 billion — before falling to $7.6 billion in 2020, $10.8 billion in 2021, and $5.3 billion in 2022, due
• $5.3 billion — ion in 2020, $10.8 billion in 2021, and $5.3 billion in 2022, due to various quarantine meas
• $22.7 billion — outbreak of COVID-19, and increased to $22.7 billion in 2023 and $28.4 billion in 2024, resp
• $28.4 billion — increased to $22.7 billion in 2023 and $28.4 billion in 2024, respectively, due to Macau aut
• $8.8 billion — d, Las Vegas Strip total gaming win was $8.8 billion in 2024, a 1.0% decrease from $8.9 bill
• $8.9 billion — 8 billion in 2024, a 1.0% decrease from $8.9 billion in 2023. According to the Las Vegas Con
• $125.1 million — rantee of MOP1.0 billion (approximately $125.1 million) in favor of the Macau government to su

Filing Documents

• wynn-20241231.htm (10-K) — 3158KB
• ex1067-wmllicenseagreement.htm (EX-10.6 7) — 71KB
• ex1068-wrmsalicenseagreeme.htm (EX-10.6 8) — 71KB
• ex1069-wrhlicenseagreement.htm (EX-10.6 9) — 53KB
• ex1071-secondamendedandres.htm (EX-10.7 1) — 631KB
• ex10751-jacquikrumagreement.htm (EX-10.7 5 1) — 175KB
• ex10752-jacquikrumamendeda.htm (EX-10.7 5 2) — 12KB
• ex191-tradingpolicyamended.htm (EX-19.1) — 55KB
• ex211-subsidiariesofwrlx20.htm (EX-21.1) — 34KB
• ex231-eyconsentx2024.htm (EX-23.1) — 4KB
• ex311-ceoscertificationxye.htm (EX-31.1) — 10KB
• ex312-cfoscertificationxye.htm (EX-31.2) — 10KB
• ex32ceoandcfocertification.htm (EX-32) — 9KB
• wynn-20241231_g1.jpg (GRAPHIC) — 295KB
• 0001174922-25-000039.txt ( ) — 19353KB
• wynn-20241231.xsd (EX-101.SCH) — 110KB
• wynn-20241231_cal.xml (EX-101.CAL) — 145KB
• wynn-20241231_def.xml (EX-101.DEF) — 669KB
• wynn-20241231_lab.xml (EX-101.LAB) — 1271KB
• wynn-20241231_pre.xml (EX-101.PRE) — 1013KB
• wynn-20241231_htm.xml (XML) — 3017KB

Risk Factors

Item 1A. Risk Factors 17

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 30

Cybersecurity

Item 1C. Cybersecurity 31

Properties

Item 2. Properties 32

Legal Proceedings

Item 3. Legal Proceedings 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34

Reserved

Item 6. Reserved 35

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 58

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 60

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 115

Controls and Procedures

Item 9A. Controls and Procedures 115

Other Information

Item 9B. Other Information 115

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 115 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 116

Executive Compensation

Item 11. Executive Compensation 116

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 116

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 116

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 116 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 117

Form 10-K Summary

Item 16. Form 10-K Summary 123

Signatures

Signatures 124 2 Table of Contents PART I

Business

Item 1. Business Our Company Wynn Resorts, Limited ("Wynn Resorts," "Wynn," or together with its subsidiaries, "we" or the "Company") is a preeminent designer, developer, and operator of integrated resorts featuring luxury hotel rooms, high-end retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming, all supported by an unparalleled focus on our guests, our people, and our community. We believe that our extensive design and operational experience across numerous gaming jurisdictions provides us with a distinct advantage over other gaming enterprises. Through our approximately 72% ownership of Wynn Macau, Limited ("WML"), we operate two integrated resorts in the Macau Special Administrative Region of the People's Republic of China ("Macau"), Wynn Palace and Wynn Macau (collectively, our "Macau Operations"). In Las Vegas, Nevada, we operate and, with the exception of certain retail space, own 100% of Wynn Las Vegas and Encore at Wynn Las Vegas, which we also refer to as our Las Vegas Operations. In Everett, Massachusetts, we operate Encore Boston Harbor, an integrated resort. Additionally, the Company has a 40% equity interest in Island 3 AMI FZ-LLC, an unconsolidated affiliate, which is constructing an integrated resort property ("Wynn Al Marjan Island") in Ras Al Khaimah, United Arab Emirates. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all other reports and any amendments of such reports filed with or furnished to the Securities and Exchange Commission ("SEC") are available, without charge, at the SEC's website at http://www.sec.gov . In addition, through our corporate website at www.wynnresorts.com , Wynn Resorts provides a hyperlink to a third-party SEC filing website which makes available all such reports and amendments as soon as reasonably practicable after filing with, or furnishing to the SEC, without charge. The information found on or linked throu

View Full Filing

View this 10-K filing on SEC EDGAR