Wynn Resorts, Limited Reports Third Quarter 2016 Results
Net revenues were $1.11 billion for the third quarter of 2016, an increase of 11.4%, or $113.5 million, from $996.3 million for the same period of 2015. The increase was the result of $164.6 million from Wynn Palace and an increase of $15.9 million from our Las Vegas Operations, partially offset by a decrease of $67.0 million from Wynn Macau.
On a U.S. GAAP basis, net loss attributable to Wynn Resorts, Limited was $17.4 million, or $0.17 per diluted share, for the third quarter of 2016, a decrease of 118.1%, or $113.6 million, from net income attributable to Wynn Resorts, Limited of $96.2 million, or $0.95 per diluted share, for the same period of 2015. Adjusted net income attributable to Wynn Resorts, Limited (1) was $76.2 million, or $0.75 per diluted share, for the third quarter of 2016, compared to $87.6 million, or $0.86 per diluted share, for the same period of 2015.
Adjusted Property EBITDA (2) was $305.4 million for the third quarter of 2016, an increase of 9.1%, or $25.5 million, from $279.9 million for the same period of 2015, primarily a result of $25.5 million from Wynn Palace.
Wynn Resorts, Limited also announced today that the Company has approved a cash dividend of $0.50 per share, payable on November 29, 2016 to stockholders of record as of November 17, 2016.
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