Wynn Resorts Announces $7.13bn in 2024 Revenue: A Year of Steady Growth

Despite the revenue growth, net income attributable to the company dropped by 31.4%, totaling $501.1m. The company's fourth-quarter revenue remained flat at $1.84bn, with growth in Macau offset by slight declines in U.S. properties.

Growth in Macau and Strategic Investments in Wynn Al Marjan Island

Macau remains a key market for Wynn Resorts, posting a 14.6% revenue increase year-on-year. Wynn Palace, in particular, showed strong growth in Q4, with a 7.3% increase in revenue. However, Wynn Macau faced a 5.8% decline in Q4 revenue, partly due to weaker performance in the mass-market gaming sector.

In terms of strategic investments, Wynn continues its development of the Wynn Al Marjan Island in the UAE, with an investment of $99m in Q4 2024, bringing the total investment to $631.7m. The project, slated for completion in 2027, is expected to play a crucial role in Wynn’s long-term strategy.

Focus on International Expansion and Shareholder Returns

The company’s focus remains on expanding its international presence, with Wynn making key investments in digital gaming and shareholder returns. Wynn Resorts also saw a 41% increase in its share repurchase program, buying back 4.35m shares in 2024.

This reflects the company's commitment to returning value to its shareholders while continuing to invest in future growth. While Macau remains the primary growth driver, Wynn acknowledges the challenges in domestic markets and is making strategic adjustments to sustain long-term growth.