Wynn Resorts, Limited (NASDAQ:WYNN) (the "Company") today reported financial results for the quarter ended September 30, 2021.

Operating revenues were $994.6 million for the third quarter of 2021, an increase of $624.2 million, from $370.5 million for the third quarter of 2020. Net loss attributable to Wynn Resorts, Limited was $166.2 million, or $1.45 per diluted share, for the third quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $758.1 million, or $7.10 per diluted share, in the third quarter of 2020. Adjusted Property EBITDA (1) at our integrated resort properties increased $89.8 million, $32.5 million, $163.2 million, and $38.6 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, when compared with the third quarter of 2020. Adjusted Property EBITDA was $(103.6) million at Corporate and other for the third quarter of 2021.

"We were pleased to deliver record Adjusted Property EBITDA at both Wynn Las Vegas and Encore Boston Harbor during the third quarter," said Matt Maddox, CEO of Wynn Resorts, Limited. "With our recent investments in innovative food and beverage offerings, a new convention facility in Las Vegas and a revamped casino loyalty program, the best days are ahead for our business in North America. And while there have been some fits and starts along the road to recovery in Macau, we are confident that Macau will benefit from the return of consumer demand as we progress through 2022."

Consolidated Results

Operating revenues were $994.6 million for the third quarter of 2021, an increase of $624.2 million, from $370.5 million for the third quarter of 2020. Operating revenues increased $165.6 million, $79.3 million, $289.3 million, and $75.5 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, from the third quarter of 2020.

On a U.S. generally accepted accounting principles ("GAAP") basis, net loss attributable to Wynn Resorts, Limited was $166.2 million, or $1.45 per diluted share, for the third quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $758.1 million, or $7.10 per diluted share, in the third quarter of 2020. Adjusted net loss attributable to Wynn Resorts, Limited (2) was $141.7 million, or $1.24 per diluted share, for the third quarter of 2021, compared to adjusted net loss attributable to Wynn Resorts, Limited of $751.4 million, or $7.04 per diluted share, for the third quarter of 2020.

Adjusted Property EBITDA was $154.6 million for the third quarter of 2021, compared to Adjusted Property EBITDA of $(65.9) million in the third quarter of 2020. Adjusted Property EBITDA was $(103.6) million at Corporate and other for the third quarter of 2021.

Property Results

In response to the initial outbreak of COVID-19 in early 2020, each of our properties was subject to partial or full closure for varying lengths of time during 2020, and each has since reopened. Over the course of the nine months ended September 30, 2021, the Company's Las Vegas Operations and Encore Boston Harbor have each incrementally resumed full operations, including reopening gaming areas to 100% of capacity and restoring seven-day-per-week hotel operations, as permitted by governmental authorities and in response to increased customer demand. Given the evolving conditions created by and in response to the COVID-19 pandemic, measures that have been lifted may be reintroduced if there are adverse developments in the COVID-19 situation, and management cannot reasonably estimate the impact of such developments to the Company's future results of operations, cash flows, or financial condition.

Macau Operations

Wynn Palace

Operating revenues from Wynn Palace were $181.3 million for the third quarter of 2021, an increase of $165.6 million from $15.7 million for the third quarter of 2020. Adjusted Property EBITDA from Wynn Palace was $12.1 million for the third quarter of 2021, compared with $(77.6) million for the third quarter of 2020. VIP table games win as a percentage of turnover was 4.45%, above the property's expected range of 2.7% to 3.0% and above the 1.04% experienced in the third quarter of 2020. Table games win percentage in mass market operations was 21.8%, below the 22.0% experienced in the third quarter of 2020.

Wynn Macau

Operating revenues from Wynn Macau were $130.7 million for the third quarter of 2021, an increase of $79.3 million from $51.4 million for the third quarter of 2020. Adjusted Property EBITDA was $(1.9) million for the third quarter of 2021, compared with $(34.5) million for the third quarter of 2020. VIP table games win as a percentage of turnover was 2.44%, below the property's expected range of 2.7% to 3.0% and below the 3.95% experienced in the third quarter of 2020. Table games win percentage in mass market operations was 19.7%, above the 18.7% experienced in the third quarter of 2020.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $476.0 million for the third quarter of 2021, an increase of $289.3 million from $186.7 million for the third quarter of 2020. Adjusted Property EBITDA from our Las Vegas Operations for the third quarter of 2021 was $183.4 million, compared with $20.3 million for the third quarter of 2020. Table games win percentage for the third quarter of 2021 was 21.7%, below the property's expected range of 22% to 26% and above the 20.2% experienced in the third quarter of 2020.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $192.2 million for the third quarter of 2021, an increase of $75.5 million from $116.7 million for the third quarter of 2020. Adjusted Property EBITDA from Encore Boston Harbor for the third quarter of 2021 was $64.6 million, compared with $26.0 million for the third quarter of 2020. Table games win percentage for the third quarter of 2021 was 21.4%, within the property's expected range of 18% to 22% and below the 21.8% experienced in the third quarter of 2020.

Balance Sheet

Our cash and cash equivalents as of September 30, 2021 totaled $2.48 billion, comprised of approximately $1.39 billion held by Wynn Macau, Limited ("WML") and subsidiaries, approximately $327.4 million held by Wynn Resorts Finance excluding WML, and approximately $760.7 million at Corporate and other.

As previously disclosed, on September 16, 2021, WM Cayman Holdings Limited II, a subsidiary of WML, entered into an unsecured revolving credit facility in an aggregate principal amount of $1.50 billion (the "WM Cayman II Revolver"). Borrowings of $1.09 billion under the new facility, along with $200.0 million of cash, were used to facilitate the prepayment of the outstanding $1.26 billion of borrowings under the Wynn Macau Credit Facilities and to pay related fees and expenses.

As of September 30, 2021, the available borrowing capacity under the Wynn Resorts Finance Revolver and WM Cayman II Revolver was $834.2 million and $413.1 million, respectively.

Total current and long-term debt outstanding at September 30, 2021 was $11.74 billion, comprised of $5.77 billion of Macau related debt, $3.13 billion of Wynn Las Vegas debt, $2.23 billion of Wynn Resorts Finance debt, and $612.8 million of debt held by the retail joint venture which we consolidate.

Conference Call and Other Information

The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on November 9, 2021 at 1:30 p.m. PT (4:30 p.m. ET). Interested parties are invited to join the call by accessing a live audio webcast at http://www.wynnresorts.com.

On or before November 12, 2021, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended September 30, 2021 available to noteholders, prospective investors, broker-dealers and securities analysts. Please contact our investor relations office at 702-770-7555 or at investorrelations@wynnresorts.com, to obtain access to such financial information.

Forward-looking Statements

This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, the recent global pandemic of COVID-19, caused by a novel strain of the coronavirus, and the continued impact of its consequences, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, general global political and economic conditions, adverse tourism trends, dependence on a limited number of resorts, competition in the casino/hotel and resort industries, uncertainties over the development, and success of new gaming and resort properties, construction risks, cybersecurity risk and our leverage and debt service. Additional information concerning potential factors that could affect the Company's financial results is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the Company's other periodic reports filed with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures

(1) "Adjusted Property EBITDA" is net loss before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on extinguishment of debt, and other non-operating income and expenses. Adjusted Property EBITDA is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDA as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors, as well as a basis for determining certain incentive compensation. We also present Adjusted Property EBITDA because it is used by some investors to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDA as a supplement to GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their EBITDA calculations preopening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDA should not be considered as an alternative to operating income as an indicator of our performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDA does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. We have significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, our calculation of Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

(2) "Adjusted net loss attributable to Wynn Resorts, Limited" is net loss attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other, change in derivatives fair value, loss on extinguishment of debt, and foreign currency remeasurement and other, net of noncontrolling interests and income taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. Adjusted net loss attributable to Wynn Resorts, Limited and adjusted net loss attributable to Wynn Resorts, Limited per diluted share are presented as supplemental disclosures to financial measures in accordance with GAAP because management believes that these non-GAAP financial measures are widely used to measure the performance, and as a principal basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to net income (loss) and earnings per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net loss attributable to Wynn Resorts, Limited and adjusted net loss attributable to Wynn Resorts, Limited per diluted share may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

The Company has included schedules in the tables that accompany this release that reconcile (i) net loss attributable to Wynn Resorts, Limited to adjusted net loss attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDA, and (iii) net loss attributable to Wynn Resorts, Limited to Adjusted Property EBITDA.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Operating revenues:
Casino	$	496,264		$	201,872		$	1,615,228		$	782,074
Rooms	173,817			61,144			387,772			231,240
Food and beverage	217,501			76,586			435,152			250,007
Entertainment, retail and other	107,062			30,850			283,287			146,545
Total operating revenues	994,644			370,452			2,721,439			1,409,866
Operating expenses:
Casino	315,316			160,861			1,048,897			734,689
Rooms	52,100			35,940			136,187			139,787
Food and beverage	163,655			76,536			354,709			314,335
Entertainment, retail and other	156,490			13,370			310,871			75,823
General and administrative	197,350			160,896			574,669			547,305
Provision for credit losses	(347		)	11,588			7,461			60,548
Pre-opening	1,333			877			5,455			5,614
Depreciation and amortization	177,110			183,486			545,538			541,498
Property charges and other	15,301			9,905			26,569			43,701
Total operating expenses	1,078,308			653,459			3,010,356			2,463,300
Operating loss	(83,664		)	(283,007		)	(288,917		)	(1,053,434		)
Other income (expense):
Interest income	507			2,033			2,131			13,969
Interest expense, net of amounts capitalized	(150,325		)	(145,142		)	(453,601		)	(407,187		)
Change in derivatives fair value	1,176			4,675			6,557			(14,279		)
Loss on extinguishment of debt	(738		)	(3,139		)	(2,060		)	(4,601		)
Other	(11,784		)	412			(17,324		)	12,980
Other income (expense), net	(161,164		)	(141,161		)	(464,297		)	(399,118		)
Loss before income taxes	(244,828		)	(424,168		)	(753,214		)	(1,452,552		)
Provision for income taxes	(1,155		)	(407,365		)	(2,345		)	(564,103		)
Net loss	(245,983		)	(831,533		)	(755,559		)	(2,016,655		)
Less: net loss attributable to noncontrolling interests	79,734			73,391			176,963			218,912
Net loss attributable to Wynn Resorts, Limited	$	(166,249	)	$	(758,142	)	$	(578,596	)	$	(1,797,743	)
Basic and diluted net loss per common share:
Net loss attributable to Wynn Resorts, Limited:
Basic	$	(1.45	)	$	(7.10	)	$	(5.10	)	$	(16.85	)
Diluted	$	(1.45	)	$	(7.10	)	$	(5.10	)	$	(16.85	)
Weighted average common shares outstanding:
Basic	114,655			106,783			113,420			106,720
Diluted	114,655			106,783			113,420			106,720
Dividends declared per common share:	$	—		$	—		$	—		$	1.00

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED
TO ADJUSTED NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED
(in thousands, except per share data)
(unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Net loss attributable to Wynn Resorts, Limited	$	(166,249	)	$	(758,142	)	$	(578,596	)	$	(1,797,743	)
Litigation settlement net gain	—			(2,500		)	—			(30,200		)
Pre-opening expenses	1,333			877			5,455			5,614
Property charges and other	15,301			9,905			26,569			43,701
Change in derivatives fair value	(1,176		)	(4,675		)	(6,557		)	14,279
Loss on extinguishment of debt	738			3,139			2,060			4,601
Foreign currency remeasurement loss (gain)	11,784			(412		)	17,324			(12,980		)
Income tax impact on adjustments	(15		)	(812		)	(87		)	20
Noncontrolling interests impact on adjustments	(3,418		)	1,183			(4,596		)	(12,315		)
Adjusted net loss attributable to Wynn Resorts, Limited	$	(141,702	)	$	(751,437	)	$	(538,428	)	$	(1,785,023	)
Adjusted net loss attributable to Wynn Resorts, Limited per diluted share	$	(1.24	)	$	(7.04	)	$	(4.75	)	$	(16.73	)

Weighted average common shares outstanding - diluted	114,655			106,783			113,420			106,720

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA
(in thousands)
(unaudited)

	Three Months Ended September 30, 2021
	Operating income (loss)			Pre-opening expenses		Depreciation and amortization		Property charges and other		Management and license fees			Corporate expenses and other		Stock-based compensation		Adjusted Property EBITDA
Macau Operations:
Wynn Palace	$	(58,642	)	$	62	$	59,908	$	919	$	6,161		$	1,187	$	2,517	$	12,112
Wynn Macau	(33,255		)	—		20,816		617		4,355			1,274		4,254		(1,939		)
Other Macau	(3,477		)	—		1,042		4		—			1,899		532		—
Total Macau Operations	(95,374		)	62		81,766		1,540		10,516			4,360		7,303		10,173
Las Vegas Operations	102,734			1,129		47,862		1,108		22,437			5,757		2,389		183,416
Encore Boston Harbor	13,104			142		39,182		102		9,349			2,217		469		64,565
Corporate and other	(104,128		)	—		8,300		12,551		(42,302		)	6,567		15,419		(103,593		)
Total	$	(83,664	)	$	1,333	$	177,110	$	15,301	$	—		$	18,901	$	25,580	$	154,561

	Three Months Ended September 30, 2020
	Operating income (loss)			Pre-opening expenses		Depreciation and amortization		Property charges and other		Management and license fees			Corporate expenses and other		Stock-based compensation			Adjusted Property EBITDA
Macau Operations:
Wynn Palace	$	(150,477	)	$	378	$	67,424	$	502	$	2,250		$	258	$	2,018		$	(77,647	)
Wynn Macau	(63,052		)	—		22,247		538		2,250			340		3,220			(34,457		)
Other Macau	(2,501		)	—		1,109		2		—			993		397			—
Total Macau Operations	(216,030		)	378		90,780		1,042		4,500			1,591		5,635			(112,104		)
Las Vegas Operations	(47,377		)	68		51,320		1,155		8,855			4,458		1,779			20,258
Encore Boston Harbor	(25,094		)	—		37,745		6,354		5,680			1,535		(234		)	25,986
Corporate and other	5,494			431		3,641		1,354		(19,035		)	5,242		2,873			—
Total	$	(283,007	)	$	877	$	183,486	$	9,905	$	—		$	12,826	$	10,053		$	(65,860	)

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA
(in thousands) (unaudited)
(continued)

	Nine Months Ended September 30, 2021
	Operating income (loss)			Pre-opening expenses		Depreciation and amortization		Property charges and other		Management and license fees			Corporate expenses and other		Stock-based compensation		Adjusted Property EBITDA
Macau Operations:
Wynn Palace	$	(139,661	)	$	898	$	192,980	$	4,073	$	22,987		$	3,542	$	8,217	$	93,036
Wynn Macau	(70,541		)	—		63,062		2,809		16,209			3,904		13,260		28,703
Other Macau	(9,799		)	—		3,245		21		—			4,852		1,681		—
Total Macau Operations	(220,001		)	898		259,287		6,903		39,196			12,298		23,158		121,739
Las Vegas Operations	117,713			3,572		144,043		6,259		47,952			16,806		8,374		344,719
Encore Boston Harbor	(9,149		)	170		117,450		1,323		23,583			6,757		1,710		141,844
Corporate and other	(177,480		)	815		24,758		12,084		(110,731		)	20,802		41,791		(187,961		)
Total	$	(288,917	)	$	5,455	$	545,538	$	26,569	$	—		$	56,663	$	75,033	$	420,341

	Nine Months Ended September 30, 2020
	Operating income (loss)			Pre-opening expenses		Depreciation and amortization		Property charges and other		Management and license fees			Corporate expenses and other (1)			Stock-based compensation		Adjusted Property EBITDA
Macau Operations:
Wynn Palace	$	(427,481	)	$	993	$	201,655	$	23,794	$	13,925		$	3,189		$	5,546	$	(178,379	)
Wynn Macau	(193,291		)	—		69,131		2,872		12,663			3,620			7,110		(97,895		)
Other Macau	(8,888		)	—		3,335		5		—			4,386			1,162		—
Total Macau Operations	(629,660		)	993		274,121		26,671		26,588			11,195			13,818		(276,274		)
Las Vegas Operations	(277,604		)	2,244		146,960		964		26,910			17,692			5,451		(77,383		)
Encore Boston Harbor	(185,142		)	—		111,513		10,219		12,638			8,900			1,443		(40,429		)
Corporate and other	38,972			2,377		8,904		5,847		(66,136		)	(9,753		)	19,789		—
Total	$	(1,053,434	)	$	5,614	$	541,498	$	43,701	$	—		$	28,034		$	40,501	$	(394,086	)
(1) Corporate and other includes a $30.2 million net gain recorded in relation to a derivative litigation settlement.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET LOSS ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO
ADJUSTED PROPERTY EBITDA
(in thousands)
(unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Net loss attributable to Wynn Resorts, Limited	$	(166,249	)	$	(758,142	)	$	(578,596	)	$	(1,797,743	)
Net loss attributable to noncontrolling interests	(79,734		)	(73,391		)	(176,963		)	(218,912		)
Pre-opening expenses	1,333			877			5,455			5,614
Depreciation and amortization	177,110			183,486			545,538			541,498
Property charges and other	15,301			9,905			26,569			43,701
Corporate expenses and other	18,901			12,826			56,663			28,034
Stock-based compensation	25,580			10,053			75,033			40,501
Interest income	(507		)	(2,033		)	(2,131		)	(13,969		)
Interest expense, net of amounts capitalized	150,325			145,142			453,601			407,187
Change in derivatives fair value	(1,176		)	(4,675		)	(6,557		)	14,279
Loss on extinguishment of debt	738			3,139			2,060			4,601
Other	11,784			(412		)	17,324			(12,980		)
Provision for income taxes	1,155			407,365			2,345			564,103
Adjusted Property EBITDA	$	154,561		$	(65,860	)	$	420,341		$	(394,086	)

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited)

	Three Months Ended September 30,								Nine Months Ended September 30,
	2021			2020			Percent Change		2021			2020			Percent Change
Wynn Palace Supplemental Information
Operating revenues
Casino	$	134,064		$	12,301		989.9		$	532,040		$	208,449		155.2
Rooms	15,639			4,506			247.1		53,534			26,647			100.9
Food and beverage	10,952			6,856			59.7		36,429			24,385			49.4
Entertainment, retail and other (7)	20,668			(7,962)			NM		67,017			24,451			174.1
Total	$	181,323		$	15,701		1,054.9		$	689,020		$	283,932		142.7

Adjusted Property EBITDA (6)	$	12,112		$	(77,647)		NM		$	93,036		$	(178,379)		NM

Casino Statistics:
VIP:
Average number of table games	89			102			(12.7	)	96			97			(1.0	)
VIP turnover	$	1,234,733		$	311,676		296.2		$	5,246,296		$	6,823,955		(23.1	)
VIP table games win (1)	$	54,943		$	3,244		1,593.7		$	222,968		$	113,007		97.3
VIP table games win as a % of turnover	4.45		%	1.04		%			4.25		%	1.66		%
Table games win per unit per day	$	6,691		$	347		1,828.2		$	8,548		$	4,458		91.7
Mass market:
Average number of table games	231			223			3.6		227			209			8.6
Table drop (2)	$	508,779		$	86,347		489.2		$	1,823,792		$	583,599		212.5
Table games win (1)	$	110,820		$	19,015		482.8		$	406,016		$	156,897		158.8
Table games win %	21.8		%	22.0		%			22.3		%	26.9		%
Table games win per unit per day	$	5,223		$	929		462.2		$	6,555		$	2,889		126.9
Average number of slot machines	712			569			25.1		708			586			20.8
Slot machine handle	$	327,017		$	78,580		316.2		$	1,107,058		$	542,708		104.0
Slot machine win (3)	$	11,538		$	3,995		188.8		$	44,553		$	24,796		79.7
Slot machine win per unit per day	$	176		$	76		131.6		$	230		$	163		41.1
Room statistics:
Occupancy	51.9%			11.6%					61.1%			19.3%
ADR (4)	$	187		$	225		(16.9	)	$	181		$	283		(36.0	)
REVPAR (5)	$	97		$	26		273.1		$	111		$	54		105.6
NM - Not meaningful.
Note: Our casino operations in Macau were closed for a 15-day period in February 2020 and resumed operations on a reduced basis on February 20, 2020. Our casinos' operations have since been fully restored; however, certain COVID-19 specific protective measures, such as limiting the number of seats per table game, increasing the spacing between active slot machines and visitor entry checks and requirements involving temperature checkpoints, mask wearing, health declarations and proof of negative COVID-19 test results for travelers seeking entry to Macau remain in effect at the present time. We are currently unable to determine when these measures will be lifted.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)

	Three Months Ended September 30,								Nine Months Ended September 30,
	2021			2020			Percent Change		2021			2020			Percent Change
Wynn Macau Supplemental Information
Operating revenues
Casino	$	98,264		$	27,154		261.9		$	379,610		$	213,758		77.6
Rooms	10,896			4,938			120.7		39,025			23,480			66.2
Food and beverage	7,628			5,606			36.1		23,620			18,821			25.5
Entertainment, retail and other (7)	13,874			13,670			1.5		52,086			36,686			42.0
Total	$	130,662		$	51,368		154.4		$	494,341		$	292,745		68.9

Adjusted Property EBITDA (6)	$	(1,939)		$	(34,457)		94.4		$	28,703		$	(97,895)		NM

Casino Statistics:
VIP:
Average number of table games	75			91			(17.6	)	83			88			(5.7	)
VIP turnover	$	1,335,694		$	498,519		167.9		$	4,629,987		$	4,069,809		13.8
VIP table games win (1)	$	32,602		$	19,679		65.7		$	130,624		$	130,143		0.4
VIP table games win as a % of turnover	2.44		%	3.95		%			2.82		%	3.20		%
Table games win per unit per day	$	4,704		$	2,351		100.1		$	5,745		$	5,692		0.9
Mass market:
Average number of table games	238			240			(0.8	)	239			219			9.1
Table drop (2)	$	441,899		$	133,006		232.2		$	1,703,189		$	752,058		126.5
Table games win (1)	$	87,132		$	24,898		250.0		$	321,236		$	146,231		119.7
Table games win %	19.7		%	18.7		%			18.9		%	19.4		%
Table games win per unit per day	$	3,972		$	1,128		252.1		$	4,914		$	2,564		91.7
Average number of slot machines	574			472			21.6		583			509			14.5
Slot machine handle	$	200,543		$	87,988		127.9		$	802,337		$	516,537		55.3
Slot machine win (3)	$	9,142		$	3,072		197.6		$	28,573		$	18,993		50.4
Slot machine win per unit per day	$	173		$	71		143.7		$	179		$	144		24.3
Poker rake	$	—		$	—		—		$	—		$	2,083		(100.0	)
Room statistics:
Occupancy	51.3%			16.6%					60.0%			24.4%
ADR (4)	$	211		$	291		(27.5	)	$	217		$	316		(31.3	)
REVPAR (5)	$	108		$	48		125.0		$	130		$	77		68.8
NM - Not meaningful.
Note: Our casino operations in Macau were closed for a 15-day period in February 2020 and resumed operations on a reduced basis on February 20, 2020. Our casinos' operations have since been fully restored; however, certain COVID-19 specific protective measures, such as limiting the number of seats per table game, increasing the spacing between active slot machines and visitor entry checks and requirements involving temperature checkpoints, mask wearing, health declarations and proof of negative COVID-19 test results for travelers seeking entry to Macau remain in effect at the present time. We are currently unable to determine when these measures will be lifted.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2021		2020		Percent Change	2021		2020			Percent Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino	$	112,575	$	65,694	71.4	$	305,253	$	161,354		89.2
Rooms	132,704		44,961		195.2	266,250		163,419			62.9
Food and beverage	180,455		55,043		227.8	333,390		177,114			88.2
Entertainment, retail and other	50,269		20,999		139.4	104,892		73,520			42.7
Total	$	476,003	$	186,697	155.0	$	1,009,785	$	575,407		75.5

Adjusted Property EBITDA (6)	$	183,416	$	20,258	805.4	$	344,719	$	(77,383	)	NM

Casino Statistics:
Average number of table games	224		223		0.4	205		228			(10.1	)
Table drop (2)	$	507,188	$	324,939	56.1	$	1,258,733	$	830,745		51.5
Table games win (1)	$	110,265	$	65,611	68.1	$	285,939	$	166,196		72.0
Table games win %	21.7%		20.2%			22.7%		20.0%
Table games win per unit per day	$	5,354	$	3,191	67.8	$	5,117	$	3,711		37.9
Average number of slot machines	1,746		1,738		0.5	1,670		1,751			(4.6	)
Slot machine handle	$	1,156,858	$	739,291	56.5	$	3,063,267	$	1,650,517		85.6
Slot machine win (3)	$	80,303	$	48,267	66.4	$	209,682	$	112,464		86.4
Slot machine win per unit per day	$	500	$	302	65.6	$	460	$	328		40.2
Poker rake	$	2,910	$	10	NM	$	8,704	$	2,185		298.4
Room statistics:
Occupancy	83.0%		39.2%			63.4%		55.8%
ADR (4)	$	392	$	269	45.7	$	360	$	323		11.5
REVPAR (5)	$	326	$	105	210.5	$	228	$	180		26.7
NM - Not meaningful.
Note: Wynn Las Vegas ceased all operations and closed to the public on March 17, 2020 and reopened on June 4, 2020 with certain COVID-19 specific protective measures in place, such as limiting the number of seats per table game, slot machine spacing, temperature checks, mask protection, and suspension of certain entertainment and nightlife offerings. On October 19, 2020, Encore at Wynn Las Vegas adjusted its operating schedule to five days/four nights each week due to reduced customer demand levels. This adjusted operating schedule remained in effect through the first quarter of 2021, and on April 8, 2021, Encore at Wynn Las Vegas resumed full operations. On May 3, 2021, all industry restrictions were lifted and capacity limits increased to 100%.

WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR, and REVPAR)
(unaudited) (continued)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021		2020		Percent Change		2021		2020		Percent Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino	$	151,361	$	96,723	56.5		$	398,325	$	198,513	100.7
Rooms	14,578		6,739		116.3		28,963		17,694		63.7
Food and beverage	18,466		9,081		103.3		41,713		29,687		40.5
Entertainment, retail and other	7,809		4,143		88.5		18,544		11,888		56.0
Total	$	192,214	$	116,686	64.7		$	487,545	$	257,782	89.1

Adjusted Property EBITDA (6)	$	64,565	$	25,986	148.5		$	141,844	$	(40,429)	NM

Casino Statistics:
Average number of table games	181		186		(2.7	)	192		174		10.3
Table drop (2)	$	350,145	$	217,797	60.8		$	890,777	$	493,428	80.5
Table games win (1)	$	74,818	$	47,528	57.4		$	189,070	$	104,814	80.4
Table games win %	21.4%		21.8%				21.2%		21.2%
Table games win per unit per day	$	4,498	$	3,079	46.1		$	3,613	$	3,839	(5.9	)
Average number of slot machines	2,734		1,877		45.7		2,268		2,330		(2.7	)
Slot machine handle	$	1,196,299	$	813,435	47.1		$	3,204,272	$	1,581,174	102.7
Slot machine win (3)	$	98,816	$	63,458	55.7		$	263,197	$	122,906	114.1
Slot machine win per unit per day	$	393	$	407	(3.4	)	$	425	$	336	26.5
Poker rake	$	—	$	—	—		$	—	$	5,105	(100.0	)
Room statistics:
Occupancy	87.8%		72.7%				84.1%		74.6%
ADR (4)	$	351	$	294	19.4		$	320	$	293	9.2
REVPAR (5)	$	308	$	214	43.9		$	269	$	218	23.4
NM - Not meaningful.
Note: Encore Boston Harbor ceased all operations and closed to the public on March 15, 2020, for the remainder of the first and second quarters of 2020. On July 10, 2020, Encore Boston Harbor reopened with certain COVID-19 specific protective measures in place, such as limiting the number of seats per table game, slot machine spacing, temperature checks, mask protection. In addition, certain food and beverage outlets remain closed, and hotel reservations were limited to Thursday through Sunday through the third quarter of 2020. Accordingly, Encore Boston Harbor's room statistics have been computed based on 47 and 121 days of operation for the three and nine months ended September 30, 2020, respectively. On January 25, 2021, the limitations on operating hours were lifted, and Encore Boston Harbor restored 24-hour casino operations and reopened its hotel tower on a Thursday through Sunday schedule. On April 27, 2021, the Governor of Massachusetts announced a phased plan for further reopening and on May 28, 2021 signed an executive order rescinding the COVID-related restrictions and limitations on businesses as of May 29, 2021. On September 1, 2021, Encore Boston Harbor reopened its hotel tower to seven days per week. Accordingly, Encore Boston Harbor's room statistics have been computed based on 69 and 158 days of operations for the three and nine months ended September 30, 2021, respectively.

(1)		Table games win is shown before discounts, commissions and the allocation of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis.
(2)		In Macau, table drop is the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage. In Las Vegas, table drop is the amount of cash and net markers issued that are deposited in a gaming table's drop box. At Encore Boston Harbor, table drop is the amount of cash and gross markers that are deposited in a gaming table's drop box.
(3)		Slot machine win is calculated as gross slot machine win minus progressive accruals and free play.
(4)		ADR is average daily rate and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms occupied.
(5)		REVPAR is revenue per available room and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms available.
(6)		Refer to accompanying reconciliations of Operating Income (Loss) to Adjusted Property EBITDA and Net Loss Attributable to Wynn Resorts, Limited to Adjusted Property EBITDA.
(7)		For the three and nine months ended September 30, 2020, reflects the impact of rent concessions provided to tenants.

SOURCE:

Wynn Resorts, Limited

View source version on businesswire.com: https://www.businesswire.com/news/home/20211109006372/en/

Wynn Resorts, Limited Reports Third Quarter 2021 Results