But Wynn Las Vegas President Brian Gullbrants said group business - conventions and trade shows - has vaulted past pre-pandemic times. “In general, I would say the market is coming back much more quickly than anybody would have thought of, certainly six or nine months ago.”īillings said international visitation isn’t quite back to pre-COVID-19 levels. “Looking ahead, we currently have a strong pipeline in forward group demand, continued room pricing power, healthy drops and handles (in casino play) and a robust programming calendar, particularly in the back half of the year,” he said. That compared with a net loss of $183.3 million, $1.59 a share, on revenue of $953.3 million.īillings explained why the numbers also look good in the future. “We also subsequently delivered the best April in the history of the property,” he said.įor the quarter that ended March 31, Wynn reported net income of $12.3 million, a loss of 2 cents a share, on revenue of $1.42 billion. “Despite the confluence of high inflation, high interest rates, bank failures and increasingly difficult year-over-year comps, Wynn Las Vegas delivered an all-time record in Q1 with $232 million of adjusted property cash flow supported by a consumer that continues to feel flush.” “I have to tell you … it’s a fascinating time in our business,” Billings said in a conference call with investors. Nowhere was the company’s financial position stronger than in Las Vegas, where Wynn has had sturdy group business and improving international visitation mixed with a robust calendar extending into late 2023. In Macao, after several challenging years, we were pleased to experience a meaningful return of visitation and demand, particularly in our mass gaming and retail businesses,” he said. “In the U.S., Wynn Las Vegas and Encore Boston Harbor are firing on all cylinders, generating a new all-time record for adjusted property cash flow at our combined North American properties during the quarter. Wynn Resorts CEO Craig Billings said Tuesday that its resorts are generating “strong” financial results “for the first time in over three years.” cruised to a record first quarter performance. Riding the financial strength of all its major markets, Wynn Resorts Ltd.

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