Wynn Resorts Ltd. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Wynn Resorts Ltd. has filed its Q1 2024 10-Q report, providing financial details and segment performance data.</b>

AI Summary

WYNN RESORTS LTD (WYNN) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Wynn Resorts Ltd. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key financial data from previous periods (Q1 2023, Q1 2022, FY 2023, FY 2022) is referenced. The report includes details on common stock, treasury stock, additional paid-in capital, accumulated other comprehensive income, retained earnings, parent, and noncontrolling interest. Specific segments like Casino, Occupancy, Food & Beverage, and Entertainment/Retail/Other are mentioned in relation to financial reporting periods.

Why It Matters

For investors and stakeholders tracking WYNN RESORTS LTD, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of Wynn Resorts for the first quarter of 2024, crucial for evaluating investment decisions. The detailed breakdown of financial elements and segment performance allows for a comparative analysis against previous periods, highlighting trends and potential shifts in the company's business.

Risk Assessment

Risk Level: low — WYNN RESORTS LTD shows low risk based on this filing. The filing is a standard 10-Q report, which is routine for publicly traded companies and does not inherently contain new, high-risk information.

Analyst Insight

Monitor the detailed financial statements and segment performance within the 10-Q for any significant deviations or trends compared to prior periods.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2024-01-01 — Q1 2024 Start Date (Reporting period for Casino segment)
• 2023-01-01 — Q1 2023 Start Date (Reporting period for Casino segment)

Key Players & Entities

• WYNN RESORTS LTD (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• 7027707555 (phone_number) — Business phone

FAQ

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 WYNN Nasdaq Global Select Market Indi

Filing Documents

• wynn-20240331.htm (10-Q) — 1367KB
• ex311-ceoscertificationxq1.htm (EX-31.1) — 10KB
• ex312-cfoscertificationxq1.htm (EX-31.2) — 10KB
• ex32ceoandcfocertification.htm (EX-32) — 9KB
• 0001174922-24-000082.txt (&nbsp;) — 6940KB
• wynn-20240331.xsd (EX-101.SCH) — 50KB
• wynn-20240331_cal.xml (EX-101.CAL) — 73KB
• wynn-20240331_def.xml (EX-101.DEF) — 217KB
• wynn-20240331_lab.xml (EX-101.LAB) — 603KB
• wynn-20240331_pre.xml (EX-101.PRE) — 429KB
• wynn-20240331_htm.xml (XML) — 914KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets - March 3 1 , 202 4 (unaudited) and December 31, 20 23 3 Condensed Consolidated Statements of Income (unaudited) - Three Months Ended March 3 1 , 202 4 and 20 23 4 Condensed Consolidated Statements of Comprehensive Income (unaudited) - Three Months Ended March 3 1 , 202 4 and 20 23 5 Condensed Consolidated Statements of Stockholders' Deficit (unaudited) - Three Months Ended March 3 1 , 202 4 and 20 23 6 Condensed Consolidated Statements of Cash Flows (unaudited) - Three Months Ended March 3 1 , 202 4 and 20 23 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Default Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40 Signature 41 2 Table of Contents

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements WYNN RESORTS, LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) March 31, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,420,203 $ 2,879,186 Restricted cash — 18 Investments 848,732 845,192 Accounts receivable, net of allowance for credit losses of $ 40,622 and $ 40,075 , respectively 297,192 341,712 Inventories 73,686 75,552 Prepaid expenses and other 131,099 99,961 Total current assets 3,770,912 4,241,621 Property and equipment, net 6,606,525 6,688,479 Restricted cash 90,146 90,208 Goodwill and intangible assets, net 317,945 329,708 Operating lease assets 1,823,043 1,832,896 Deferred income taxes, net 484,103 500,877 Other assets 378,062 312,434 Total assets $ 13,470,736 $ 13,996,223 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts and construction payables $ 176,420 $ 208,263 Customer deposits 489,866 543,288 Gaming taxes payable 183,741 172,832 Accrued compensation and benefits 154,540 212,645 Accrued interest 125,872 141,902 Current portion of long-term debt 1,291,488 709,593 Other accrued liabilities 211,193 211,931 Total current liabilities 2,633,120 2,200,454 Long-term debt 9,920,130 11,028,744 Long-term operating lease liabilities 1,635,035 1,631,749 Other long-term liabilities 228,831 236,210 Total liabilities 14,417,116 15,097,157 Commitments and contingencies (Note 15) Stockholders' deficit: Preferred stock, par value $ 0.01 ; 40,000,000 shares authorized; zero shares issued and outstanding — — Common stock, par value $ 0.01 ; 400,000,000 shares authorized; 133,451,655 and 132,998,916 shares issued; 112,071,149 and 111,737,245 shares outstanding, respectively 1,335 1,330 Treasury stock, at cost; 21,380,506 and 21,261,671 shares, respectively ( 1,849,172 ) ( 1,836,326 ) Additional paid-in capital 3,656,809 3,647,161 Accumulated other comprehensive income 4,830 3,406 Accumu

View Full Filing

View this 10-Q filing on SEC EDGAR