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Press Release: Wynn Resorts, Limited Reports -4-

· 02/04/2021 16:02
Year Ended December 31, 2019 ------------------------------------------------------------------------------------------------------------- Operating Depreciation Property Management Corporate Adjusted income Pre-opening and charges and license expenses Stock-based Property (loss) expenses amortization and other fees and other compensation EBITDA --------- ------------- -------------- ---------- ------------ ----------- -------------- ------------ Macau Operations: Wynn Palace $359,286 $ -- $ 264,758 $ 1,000 $ 94,111 $ 5,583 $ 4,797 $ 729,535 Wynn Macau 461,821 2,224 90,448 4,860 74,076 6,515 8,893 648,837 Other Macau (15,586) -- 4,465 23 -- 10,023 1,075 -- -------- ------------- -------------- ---------- ----------- ----------- -------------- ---------- Total Macau Operations 805,521 2,224 359,671 5,883 168,187 22,121 14,765 1,378,372 Las Vegas Operations 123,306 249 177,509 14,241 76,520 16,215 5,846 413,886 Encore Boston Harbor (195,589) 96,649 78,378 25 26,731 14,524 2,432 23,150 Corporate and other 145,067 2,887 9,320 137 (271,438) 97,368 16,659 -- -------- ------------- -------------- ---------- ----------- ----------- -------------- ---------- Total $878,305 $ 102,009 $ 624,878 $ 20,286 $ -- $ 150,228 $ 39,702 $1,815,408 ======= ========= === ========= ====== === ====== ======= === ========= ========= WYNN RESORTS, LIMITED AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO ADJUSTED PROPERTY EBITDA (in thousands) (unaudited) Three Months Ended Year Ended December 31, December 31, --------------------- --------------------------- 2020 2019 2020 2019 ---------- --------- ------------ ----------- Net income (loss) attributable to Wynn Resorts, Limited $(269,502) $(72,942) $(2,067,245) $ 122,985 Net income (loss) attributable to noncontrolling interests (40,789) 55,472 (259,701) 188,393 Pre-opening expenses 892 2,797 6,506 102,009 Depreciation and amortization 184,004 175,054 725,502 624,878 Property charges and other 23,754 2,366 67,455 20,286 Corporate expenses and other 17,989 26,379 46,023 150,228 Stock-based compensation 21,753 9,928 62,254 39,702 Interest income (1,415) (4,470) (15,384) (24,449) Interest expense, net of amounts capitalized 149,287 113,049 556,474 414,030 Change in derivatives fair value (1,219) (3,686) 13,060 3,228 Loss on extinguishment of debt -- 241 4,601 12,437 Other (15,541) (18,505) (28,521) (15,159) Provision for income taxes 568 157,419 564,671 176,840 --------- -------- ----------- ---------- Adjusted Property EBITDA $ 69,781 $443,102 $ (324,305) $1,815,408 ======== ======= ========== ========= 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 December 31, Year Ended December 31, ------------------------------------------- ------------------------------------- Percent Percent 2020 2019 Change 2020 2019 Change --------------- --------------- ----- ------- ---------- ---------------- --- --------- Wynn Palace Supplemental Information Operating revenues Casino $ 159,835 $ 490,379 (67.4) $ 368,284 $ 2,139,756 (82.8) Rooms 19,463 43,194 (54.9) 46,110 174,576 (73.6) Food and beverage 18,813 29,685 (36.6) 43,198 117,376 (63.2) Entertainment, retail and other (7) 23,377 26,727 (12.5) 47,828 111,986 (57.3) --------------- --------------- ----- ------ ---------- ---------------- --- ------ Total $ 221,488 $ 589,985 (62.5) $ 505,420 $ 2,543,694 (80.1) Adjusted Property EBITDA (6) $ 28,732 $ 177,617 (83.8) $ (149,647) $ 729,535 (120.5) Casino Statistics: VIP: Average number of table games 102 104 (1.9) 99 109 (9.2) VIP turnover $ 2,807,063 $ 9,314,053 (69.9) $9,631,018 $ 45,847,647 (79.0) VIP table games win (1) $ 55,428 $ 286,355 (80.6) $ 168,435 $ 1,519,225 (88.9) VIP table games win as a % of turnover 1.97 % 3.07 % 1.75% 3.31 % Table games win per unitTotal $226,578 $ 2,797 $ 175,054 $ 2,366 $ -- $ 26,379 $ 9,928 $443,102 ======= === ======== === ========= ===== ======= ======= ==== ======== ======= WYNN RESORTS, LIMITED AND SUBSIDIARIES RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA (in thousands) (unaudited) (continued) Year Ended December 31, 2020 ---------------------------------------------------------------------------------------------------------------- Corporate Operating Depreciation Property Management expenses Adjusted income Pre-opening and charges and license and other Stock-based Property (loss) expenses amortization and other fees (1) compensation EBITDA ------------ ------------- -------------- ---------- ------------ ----------- -------------- ------------ Macau Operations: Wynn Palace $ (477,759) $ 1,432 $ 269,110 $ 24,712 $ 21,121 $ 4,056 $ 7,681 $(149,647) Wynn Macau (214,606) -- 89,527 3,612 18,741 4,562 10,975 (87,189) Other Macau (11,641) -- 4,443 6 -- 5,589 1,603 -- ----------- ------------- -------------- ---------- ----------- ---------- -------------- --------- Total Macau Operations (704,006) 1,432 363,080 28,330 39,862 14,207 20,259 (236,836) Las Vegas Operations (326,729) 2,490 196,292 3,792 35,213 23,111 9,475 (56,356) Encore Boston Harbor (220,053) -- 150,886 13,872 17,651 11,162 2,720 (23,762) Corporate and other 18,743 2,584 15,244 21,461 (92,726) (2,457) 29,800 (7,351) ----------- ------------- -------------- ---------- ----------- ---------- -------------- --------- Total $(1,232,045) $ 6,506 $ 725,502 $ 67,455 $ -- $ 46,023 $ 62,254 $(324,305) ========== === ======== === ========= ====== ======= ====== === ========= ========

(1) Corporate and other includes a $30.2 million net gain recorded in relation to a derivative litigation settlement.

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February 04, 2021 16:02 ET (21:02 GMT)