Las Vegas Performance
Wynn Las Vegas generated $223.4 million in adjusted property EBITDA on $625.3 million of operating revenue during the quarter, delivering an EBITDA margin of 35.7%. Revenue and EBITDA were up 5.4% and 2.7%, respectively, when removing the Super Bowl weekend from each quarter.
Boston Harbor Stability
Encore Boston Harbor generated $57 million of EBITDAR with slot volumes up about 3%. Demand in Boston has remained healthy with drop and handle flat to last year.
Macau Resilience
Macau operations delivered adjusted property EBITDA of $252.1 million with operating revenue of $865.9 million. OpEx excluding gaming tax was flat year-on-year. The Gourmet Pavilion at Wynn Palace is already driving increased visitation.
Strong Liquidity Position
Global cash and revolver availability of $3.2 billion as of March 31, comprising $1.8 billion of total cash and available liquidity in Macau and $1.3 billion in the US.
Shareholder Returns
Wynn Resorts repurchased 2.36 million shares for approximately $200 million in Q1 and an additional $100 million in Q2. The Wynn Macau Board recommended increasing the final dividend for 2024 to $125 million.