Welcome to our dedicated page for Wynn Resorts news (Ticker: WYNN), a resource for investors and traders seeking the latest updates and insights on Wynn Resorts stock.
Wynn Resorts, Limited (NASDAQ: WYNN) generates a steady flow of news related to its luxury casino hotels and integrated resorts in Las Vegas, Boston, Macau, London, and Ras Al Khaimah in the United Arab Emirates. As a member of the S&P 500 Index with properties across several major gaming and hospitality markets, the company issues frequent updates on property performance, development projects, and corporate actions.
Investors and followers of WYNN news will find regular quarterly earnings releases detailing operating revenues, net income, and non-GAAP measures such as Adjusted Property EBITDAR for Wynn Palace, Wynn Macau, Las Vegas operations, and Encore Boston Harbor. These releases often include commentary from management on market share, table games performance, and progress on development projects like Wynn Al Marjan Island.
Company announcements also cover capital markets and financing activities, including offerings of senior notes by Wynn Macau, Limited, amendments to revolving credit facilities, and changes in borrowing capacity. Such items are typically reported through Form 8-K filings and accompanying press releases, providing insight into the company’s balance sheet, liquidity, and debt structure.
Operational and brand news includes updates on major entertainment offerings at Wynn Las Vegas, such as enhancements to the Awakening show, and hospitality programming like the Revelry culinary festival, which brings together culinary teams from Wynn Las Vegas, Wynn Macau, Wynn Palace, and Wynn Al Marjan Island. In addition, Wynn Resorts issues news about international expansion, including details on Wynn Mayfair in London and the design and amenities of Wynn Al Marjan Island and its Enclave component.
Corporate governance and leadership developments, such as changes in the Chief Financial Officer role and other senior positions, are also disclosed through company news. For readers tracking WYNN, this news stream provides context on property-level trends, strategic projects, and financial decisions that influence the company’s long-term profile.
Wynn Las Vegas is set to launch Wynn Rewards, a new customer loyalty program, on December 21, 2020. This program will replace the existing Red Card loyalty scheme, with current members automatically enrolled. The initiative aims to enhance guest experiences through personalized offers and benefits across three tiers: Red, Platinum, and Black. Members can earn slot points and COMP DOLLARS for a variety of amenities including hotel stays and dining. The program was initially introduced at Encore Boston Harbor earlier this year.
Wynn Resorts (NASDAQ: WYNN) reported a 77.5% decline in operating revenues for Q3 2020, totaling $370.5 million, a drop of $1.28 billion from Q3 2019. The company recorded a net loss of $758.1 million or $7.10 per diluted share, compared to a loss of $3.5 million in the prior year. Adjusted Property EBITDA was $(65.9) million, a stark contrast to $396.9 million in Q3 2019. Despite the losses, Wynn reported improved performance at Encore Boston Harbor and signs of recovery in Macau, with operational adjustments amid ongoing COVID-19 restrictions.
Wynn Resorts, Limited (NASDAQ: WYNN) will report its third-quarter financial results for the period ending September 30, 2020, after market close on November 5, 2020. A conference call is scheduled for 1:30 p.m. PT (4:30 p.m. ET) for discussing the results. Interested parties can join the call via a dedicated link or by phone. A replay will be available until December 5, 2020, with access codes provided for convenience.
NASCAR and WynnBET, part of Wynn Resorts, have signed a multi-year sports betting partnership. WynnBET will create unique betting experiences for NASCAR fans across the U.S. and aims to offer a range of betting options during the NASCAR season. As part of its expansion, WynnBET is applying to operate legally in Virginia, where sports betting has been legalized. The partnership will establish WynnBET as the Official Online Sportsbook for Martinsville Speedway and Richmond Raceway, enhancing fan engagement and potentially increasing WynnBET's customer base and revenue.
The Wynn Resorts Board of Directors has appointed Darnell Strom as an Independent Director, effective October 14, 2020. With extensive experience in entertainment, media, and sports, Strom is expected to bring valuable insights to the board. He currently leads the Culture and Leadership Division at United Talent Agency and previously worked as an agent at Creative Artists Agency. His background includes political roles with former Presidents Clinton and Obama. This strategic appointment aims to enhance the company's influence across various entertainment platforms.
Wynn Las Vegas has reintroduced entertainment to the Las Vegas Strip with the premiere of the new Lake of Dreams. This outdoor show features a blend of tech-driven acts, including magic, lights, and music, designed for a socially distant audience. The project involved a $14 million upgrade to the performance space, highlighted by stunning visuals and innovative technology such as 4K projectors and animatronics. The show is directed by renowned artistic team members, and it offers nightly performances starting at sundown.
Wynn Resorts CEO Matt Maddox discussed strategies to revive Las Vegas entertainment in an Op-Ed featured in The Nevada Independent. He advocates for a robust health and safety plan, including a new on-site testing lab at Wynn Las Vegas to conduct rapid COVID-19 tests. This initiative aims to restore visitor confidence and accelerate Nevada's recovery post-pandemic. The lab, built in collaboration with University Medical Center, is expected to be operational by Thanksgiving, offering the most accurate testing available nationwide.
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Wynn Resorts (Nasdaq: WYNN) released its 2019 Environmental, Social, and Governance (ESG) Report, showcasing its commitment to responsible business practices amidst the COVID-19 pandemic. The report highlights Wynn's proactive measures to protect employees and the community, including over $250 million in compensation for 15,000 staff and $3 million in donations to health organizations. Other key achievements include the LEED Platinum certification of Encore Boston Harbor, recognition for solar energy initiatives, and significant charitable contributions over $20 million. The full ESG report is available online.