Wynn Resorts Stock Price, News & Analysis

WynnBET, the online sports betting app from Wynn Resorts, launched its services in Massachusetts, becoming the 10th operational online state. Players can download the app from the Apple and Google Play Stores and register at www.wynnbet.com/ma. The launch follows a successful retail sports betting opening at Encore Boston Harbor. New users in Massachusetts can benefit from a promotional offer of $100 in betting credits. The Wynn Rewards program allows users to gain access to a variety of experiences at Encore Boston Harbor and Wynn Las Vegas. WynnBET is currently available in multiple states and is expanding rapidly.

Wynn Resorts, Limited (NASDAQ:WYNN) announced the successful initial settlement of its cash tender offer for all outstanding 7.750% Senior Notes due 2025, amounting to $600 million. The tender offer, which expired on February 15, 2023, saw valid tenders totaling approximately $506.4 million. Holders of the validly tendered Notes received $1,024.50 for each $1,000 principal, plus accrued interest. Payments for Notes delivered later, under guaranteed delivery procedures, will occur by February 21, 2023. The offering is governed by terms in the Offer to Purchase dated February 9, 2023, and the company cautions that future statements are subject to various risks and uncertainties.

Wynn Resorts (NASDAQ: WYNN) has retained its 24 Forbes Travel Guide Five-Star Awards in 2023, the highest recognition among independent hotel companies globally. Notable properties include Wynn Las Vegas, Encore Las Vegas, and Wynn Palace, which are recognized as the three largest FTG Five-Star casino resorts worldwide. The company continues to celebrate its success in North America and globally, with Wing Lei at Wynn Las Vegas and Encore Boston Harbor also receiving accolades. The COO, Brian Gullbrants, emphasized the achievement as a testament to their 27,000 employees committed to excellence.

Wynn Resorts announced a private offering of $600 million in 7.125% Senior Notes due 2031. The net proceeds will be used to repurchase 2025 WRF Notes and cover related fees. The offering will be conducted under exemptions to the Securities Act, targeting qualified institutional buyers. Additionally, Wynn Las Vegas plans to redeem its 4.25% Senior Notes due 2023 after February 28, 2023. Investors should be cautious of forward-looking statements indicating potential risks from economic conditions, interest rates, and competition.

Wynn Resorts has initiated a cash tender offer for its outstanding $600 million of 7.750% Senior Notes due 2025. The offer will expire at 5:00 P.M. New York City time on February 15, 2023. Holders who validly tender their notes will receive $1,024.50 per $1,000 principal. The completion of the tender is contingent on Wynn Resorts Finance securing new debt financing. Settlement is expected one business day following the expiration, with options for guaranteed delivery considered. This announcement does not serve as an offer to purchase the notes.

Wynn Resorts (NASDAQ: WYNN) has announced a private offering of $600 million in Senior Notes due 2031. The offering is made by its wholly-owned subsidiaries, Wynn Resorts Finance and Wynn Resorts Capital. The Notes will have guarantees from domestic subsidiaries, except for Wynn Resorts Capital. The proceeds will be used to purchase and redeem existing 2025 WRF Notes and cover associated expenses. The offering is exempt under the Securities Act, aimed at qualified institutional buyers.

Wynn Resorts reported Q4 2022 operating revenues of $1.00 billion, a decrease of $48.2 million from Q4 2021. Net income was $32.4 million or $0.29 per diluted share, recovering from a net loss of $177.2 million in Q4 2021. Adjusted Property EBITDAR rose to $195.1 million, up from $149.1 million in the previous year. For the full year, operating revenues totaled $3.76 billion, unchanged from 2021. Notably, Wynn Macau faced revenue declines, while Las Vegas operations showed growth. The company repurchased 2.95 million shares for $171.3 million throughout 2022 and closed a significant sale-leaseback transaction for Encore Boston Harbor, generating $1.7 billion in cash.

Wynn Resorts (NASDAQ: WYNN) will release its fourth-quarter financial results for the period ending December 31, 2022 after market close on February 8, 2023. Following the release, a conference call is scheduled for 1:15 p.m. PT (4:15 p.m. ET), which will be broadcast live via www.wynnresorts.com. Interested parties can join by dialing (888) 455-5965 or (773) 799-3869 for international callers. A replay of the call will be accessible until March 8, 2023. For inquiries, contact Amir Markowitz, Vice President – Corporate Finance, at 702-770-7555.

Wynn Las Vegas (Nasdaq: WYNN) has launched the Wynn Living Well program, offering guests curated health and wellness experiences. This initiative includes Tom Brady and Alex Guerrero's TB12 method, custom IV therapies from NutriDrip, and bespoke workout videos by Amanda Kloots. The program focuses on three pillars: Renew (relaxation treatments), Replenish (nutritious culinary offerings and IV therapies), and Re-Energize (fitness classes and activities). With flexible booking options, guests can enhance their well-being during their stay at the luxurious resort.