Wynn Resorts, Limited (WYNN) 10-K 13 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 04, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-50028
Entity Registrant Name	WYNN RESORTS, LIMITED
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	46-0484987
Entity Address, Address Line One	3131 Las Vegas Boulevard South
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89109
City Area Code	702
Local Phone Number	770-7555
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	WYNN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 9,060
Entity Common Stock, Shares Outstanding		106,401,372
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement for its 2025 Annual Meeting of Shareholders to be filed not later than 120 days after the end of the fiscal year covered by this report are incorporated by reference into Part III of this Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001174922

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Las Vegas, Nevada

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,426,155	$ 2,879,186
Restricted cash	0	18
Investments	0	845,192
Accounts receivable, net of allowance for credit losses of $37,694 and $40,075	324,016	341,712
Inventories	75,783	75,552
Prepaid expenses and other	95,725	99,961
Total current assets	2,921,679	4,241,621
Property and equipment, net	6,521,283	6,688,479
Restricted cash	95,638	90,208
Goodwill and intangible assets, net	273,062	329,708
Operating lease assets	1,797,276	1,832,896
Deferred income taxes, net	507,716	500,877
Other assets	861,309	312,434
Total assets	12,977,963	13,996,223
Current liabilities:
Accounts and construction payables	205,146	208,263
Customer deposits	508,651	543,288
Gaming taxes payable	171,983	172,832
Accrued compensation and benefits	229,305	212,645
Accrued interest	132,510	141,902
Current portion of long-term debt	41,250	709,593
Other accrued liabilities	250,689	211,931
Total current liabilities	1,539,534	2,200,454
Long-term debt	10,500,484	11,028,744
Long-term operating lease liabilities	1,623,890	1,631,749
Other long-term liabilities	282,658	236,210
Total liabilities	13,946,566	15,097,157
Commitments and contingencies (Note 18)
Stockholders' deficit:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, par value $0.01; 400,000,000 shares authorized; 133,584,126 and 132,998,916 shares issued; 107,821,567 and 111,737,245 shares outstanding, respectively	1,336	1,330
Treasury stock, at cost; 25,762,599 and 21,261,671 shares, respectively	(2,241,607)	(1,836,326)
Additional paid-in capital	3,698,800	3,647,161
Accumulated other comprehensive income (loss)	(5,700)	3,406
Accumulated deficit	(1,676,990)	(2,066,953)
Total Wynn Resorts, Limited stockholders' deficit	(224,161)	(251,382)
Noncontrolling interests	(744,442)	(849,552)
Total stockholders' deficit	(968,603)	(1,100,934)
Total liabilities and stockholders' deficit	$ 12,977,963	$ 13,996,223

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 37,694	$ 40,075
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	40,000,000	40,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	133,584,126	132,998,916
Common stock, shares outstanding (in shares)	107,821,567	111,737,245
Treasury stock, at cost (in shares)	25,762,599	21,261,671

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating revenues:
Total operating revenues	$ 7,127,961	$ 6,531,897	$ 3,756,825
Operating expenses:
Cost of goods and services sold
General and administrative	1,080,475	1,065,022	830,450
Provision for credit losses	4,986	(3,964)	(7,295)
Pre-opening	9,355	9,468	20,643
Depreciation and amortization	658,895	687,270	692,318
Gain on EBH Transaction, net	0	0	(181,989)
Impairment of goodwill and intangible assets	0	94,490	48,036
Property charges and other	215,095	130,877	65,116
Total operating expenses	5,995,230	5,691,726	3,857,501
Operating income (loss)	1,132,731	840,171	(100,676)
Other income (expense):
Interest income	130,342	175,785	29,758
Interest expense, net of amounts capitalized	(688,410)	(751,509)	(650,885)
Change in derivatives fair value	42,478	45,098	15,956
Loss on debt financing transactions	(2,913)	(12,683)	0
Other	29,170	(11,479)	5,811
Other expense, net	(489,333)	(554,788)	(599,360)
Income (loss) before income taxes	643,398	285,383	(700,036)
(Provision) benefit for income taxes	(3,682)	496,834	(9,332)
Net income (loss)	639,716	782,217	(709,368)
Less: net (income) loss attributable to noncontrolling interests	(138,638)	(52,223)	285,512
Net income (loss) attributable to Wynn Resorts, Limited	$ 501,078	$ 729,994	$ (423,856)
Net income (loss) attributable to Wynn Resorts, Limited:
Earnings Per Share, Basic	$ 4.56	$ 6.49	$ (3.73)
Earnings Per Share, Diluted	$ 4.35	$ 6.32	$ (3.73)
Weighted average common shares outstanding:
Basic (in shares)	109,966	112,523	113,623
Diluted (in shares)	110,267	112,855	113,623
Casino
Operating revenues:
Total operating revenues	$ 4,261,357	$ 3,718,402	$ 1,632,541
Operating expenses:
Cost of goods and services sold	2,586,960	2,238,671	1,099,801
Rooms
Operating revenues:
Total operating revenues	1,242,058	1,185,671	802,138
Operating expenses:
Cost of goods and services sold	330,359	307,132	261,343
Food and Beverage
Operating revenues:
Total operating revenues	1,069,117	1,028,637	846,214
Operating expenses:
Cost of goods and services sold	859,426	822,323	700,549
Entertainment, retail and other
Operating revenues:
Total operating revenues	555,429	599,187	475,932
Operating expenses:
Cost of goods and services sold	$ 249,679	$ 340,437	$ 328,529

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 639,716	$ 782,217	$ (709,368)
Other comprehensive income (loss):
Foreign currency translation adjustments, before and after tax	(12,700)	5,297	(8,849)
Total comprehensive income (loss)	627,016	787,514	(718,217)
Less: comprehensive (income) loss attributable to noncontrolling interests	(135,044)	(53,710)	287,953
Comprehensive income (loss) attributable to Wynn Resorts, Limited	$ 491,972	$ 733,804	$ (430,264)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Total Wynn Resorts,  Limited stockholders' deficit	Common stock	Treasury stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit	Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2021			115,714,943
Beginning balance at Dec. 31, 2021	$ (836,215)	$ (214,418)	$ 1,314	$ (1,436,373)	$ 3,502,715	$ 6,004	$ (2,288,078)	$ (621,797)
Net income (loss)	(709,368)	(423,856)					(423,856)	(285,512)
Currency translation adjustment	(8,849)	(6,408)				(6,408)		(2,441)
Issuance of restricted stock (in shares)			797,419
Issuance of restricted stock	9,288	9,288	$ 9		9,279
Cancellation of restricted stock (in shares)			(115,521)
Cancellation of restricted stock	0		$ (1)		1
Shares repurchased by the Company and held as treasury shares (in shares)			(3,151,883)
Shares repurchased by the Company and held as treasury shares	(187,499)	(187,499)		(187,499)
Distribution to noncontrolling interest	(27,744)							(27,744)
Contribution from noncontrolling interest	50,033	48,559			48,559			1,474
Transactions with subsidiary minority shareholders (in shares)			124,481
Transactions with subsidiary minority shareholders	0	(14,052)	$ 1		(14,053)			14,052
Subsidiary equity issuance	2,896	(18,717)			(18,717)			21,613
Stock-based compensation	67,093	56,265			56,139		126	10,828
Ending balance (in shares) at Dec. 31, 2022			113,369,439
Ending balance at Dec. 31, 2022	(1,640,365)	(750,838)	$ 1,323	(1,623,872)	3,583,923	(404)	(2,711,808)	(889,527)
Net income (loss)	782,217	729,994					729,994	52,223
Currency translation adjustment	5,297	3,810				3,810		1,487
Exercise of stock options (in shares)			32,284
Exercise of stock options	1,965	1,965			1,965
Issuance of restricted stock (in shares)			727,522
Issuance of restricted stock	6,638	6,638	$ 7		6,631
Cancellation of restricted stock (in shares)			(23,256)
Shares repurchased by the Company and held as treasury shares (in shares)			(2,374,925)
Shares repurchased by the Company and held as treasury shares	(212,454)	(212,454)		(212,454)
Cash dividends declared	(85,139)	(85,139)					(85,139)
Distribution to noncontrolling interest	(22,578)	(2,994)			(2,994)			(19,584)
Transactions with subsidiary minority shareholders (in shares)			6,181
Transactions with subsidiary minority shareholders	0	(754)			(754)			754
Stock-based compensation	63,485	58,390			58,390			5,095
Ending balance (in shares) at Dec. 31, 2023			111,737,245
Ending balance at Dec. 31, 2023	(1,100,934)	(251,382)	$ 1,330	(1,836,326)	3,647,161	3,406	(2,066,953)	(849,552)
Net income (loss)	639,716	501,078					501,078	138,638
Currency translation adjustment	(12,700)	(9,106)				(9,106)		(3,594)
Exercise of stock options (in shares)			17,285
Exercise of stock options	1,017	1,017			1,017
Issuance of restricted stock (in shares)			597,633
Issuance of restricted stock	8,053	8,015	$ 6		8,009			38
Cancellation of restricted stock (in shares)			(29,708)
Shares repurchased by the Company and held as treasury shares (in shares)			(4,500,888)
Shares repurchased by the Company and held as treasury shares	(405,281)	(405,281)		(405,281)
Cash dividends declared	(139,894)	(111,115)					(111,115)	(28,779)
Distribution to noncontrolling interest	(16,988)							(16,988)
Transactions with subsidiary minority shareholders	0	(11,643)			(11,643)			11,643
Stock-based compensation	58,408	54,256			54,256			4,152
Ending balance (in shares) at Dec. 31, 2024			107,821,567
Ending balance at Dec. 31, 2024	$ (968,603)	$ (224,161)	$ 1,336	$ (2,241,607)	$ 3,698,800	$ (5,700)	$ (1,676,990)	$ (744,442)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ 639,716	$ 782,217	$ (709,368)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	658,895	687,270	692,318
Deferred income taxes	(6,838)	(502,784)	3,241
Stock-based compensation expense	59,029	64,515	67,627
Amortization of debt issuance costs	39,428	39,532	29,427
Loss on debt financing transactions	2,913	12,683	0
Provision for credit losses	4,986	(3,964)	(7,295)
Change in derivatives fair value	(42,478)	(45,098)	(15,956)
Gain on EBH Transaction, net	0	0	(181,989)
Impairment of goodwill and intangible assets	0	94,490	48,036
Property charges and other	106,332	117,176	59,305
Increase (decrease) in cash from changes in:
Receivables, net	13,478	(123,747)	(9,335)
Inventories, prepaid expenses and other	26,632	(6,025)	(19,737)
Customer deposits	(36,967)	37,951	69,692
Accounts payable and accrued expenses	(38,923)	93,663	(97,238)
Net cash provided by (used in) operating activities	1,426,203	1,247,879	(71,272)
Cash flows from investing activities:
Capital expenditures, net of construction payables and retention	(419,929)	(442,793)	(300,127)
Investment in unconsolidated affiliates	(563,418)	(53,631)	(40,181)
Purchase of investments	0	(836,519)	0
Proceeds from maturity of investments	850,000	0	0
Purchase of intangible and other assets	(2,615)	(10,752)	(12,196)
Proceeds from EBH Transaction	0	0	1,700,000
Proceeds from sale of assets and other	52,404	1,162	1,471
Net cash (used in) provided by investing activities	(83,558)	(1,342,533)	1,348,967
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,883,794	1,200,000	211,435
Repayments of long-term debt	(3,059,832)	(1,533,124)	(50,000)
Proceeds from exercise of stock options	1,017	1,965	0
Repurchase of common stock	(401,802)	(212,455)	(187,499)
Proceeds from issuance of subsidiary common stock	0	0	2,895
Proceeds from sale of noncontrolling interest in subsidiary	0	0	50,033
Distribution to noncontrolling interest	(16,988)	(22,579)	(27,744)
Dividends paid	(139,564)	(84,733)	(1,445)
Finance lease payments	(19,219)	(19,267)	(18,188)
Payments for financing costs	(36,714)	(41,240)	(3,165)
Other	(4,486)	(7,773)	0
Net cash used in financing activities	(1,793,794)	(719,206)	(23,678)
Effect of exchange rate on cash, cash equivalents and restricted cash	3,530	282	(2,094)
Cash, cash equivalents and restricted cash:
(Decrease) increase in cash, cash equivalents and restricted cash	(447,619)	(813,578)	1,251,923
Balance, beginning of period	2,969,412	3,782,990	2,531,067
Balance, end of period	$ 2,521,793	$ 2,969,412	$ 3,782,990

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Organization Wynn Resorts, Limited, a Nevada corporation (together with its subsidiaries, "Wynn Resorts" or the "Company") is a designer, developer, and operator of integrated resorts featuring luxury hotel rooms, high-end retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming. In the Macau Special Administrative Region of the People's Republic of China ("Macau"), the Company owns approximately 72% of Wynn Macau, Limited ("WML"), which includes the operations of the Wynn Palace and Wynn Macau resorts. The Company refers to Wynn Palace and Wynn Macau as its Macau Operations. In Las Vegas, Nevada, the Company operates and, with the exception of certain retail space, owns 100% of Wynn Las Vegas. Additionally, the Company is a 50.1% owner and managing member of a joint venture that owns and leases certain retail space at Wynn Las Vegas (the "Retail Joint Venture"). The Company refers to Wynn Las Vegas, Encore, an expansion at Wynn Las Vegas, and the Retail Joint Venture as its Las Vegas Operations. In Everett, Massachusetts, the Company operates Encore Boston Harbor, an integrated resort. Additionally, the Company has a 40% equity interest in Island 3 AMI FZ-LLC ("Island 3"), an unconsolidated affiliate, which is constructing an integrated resort property ("Wynn Al Marjan Island") in Ras Al Khaimah, United Arab Emirates, currently expected to open in 2027. Macau Operations Wynn Palace features a luxury hotel tower with 1,706 guest rooms, suites and villas, approximately 468,000 square feet of casino space, 14 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 107,000 square feet of retail space, public attractions including a performance lake, an immersive entertainment center, Western and Asian art displays, and a gondola ride offering convenient street-level access. Wynn Macau features two luxury hotel towers with a total of 1,010 guest rooms and suites, approximately 294,000 square feet of casino space, 12 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 64,500 square feet of retail space, a performance lake, a rotunda show and recreation and leisure facilities. In December 2022, Wynn Resorts (Macau), S.A. ("Wynn Macau SA"), an indirect subsidiary of the Company, entered into a definitive gaming concession contract (the "Gaming Concession Contract") with the Macau government, pursuant to which Wynn Macau SA was granted a 10-year gaming concession commencing on January 1, 2023 and expiring on December 31, 2032, to operate games of chance at Wynn Palace and Wynn Macau. Las Vegas Operations Wynn Las Vegas features two luxury hotel towers with a total of 4,748 guest rooms, suites and villas, approximately 195,000 square feet of casino space, 34 food and beverage outlets, approximately 513,000 square feet of meeting and convention space, approximately 178,000 square feet of retail space (the majority of which is owned and operated under a joint venture of which the Company owns 50.1%), as well as two theaters, two nightclubs and a beach club and recreation and leisure facilities. Encore Boston Harbor Encore Boston Harbor, an integrated resort in Everett, Massachusetts, adjacent to Boston along the Mystic River, features a luxury hotel tower with a total of 671 guest rooms and suites, approximately 210,000 square feet of casino space, 16 food and beverage outlets, one nightclub, approximately 71,000 square feet of meeting and convention space, and approximately 8,186 square feet of retail space. Public attractions include a waterfront park, floral displays, and water shuttle service to downtown Boston. In December 2022, the Company closed on a sale-leaseback arrangement with respect to certain real estate assets related to Encore Boston Harbor (the "EBH Transaction"). Upon closing of the EBH Transaction, the Company received cash proceeds of approximately $1.70 billion in exchange for the sale of such real estate assets, and concurrently entered into a lease agreement for the purpose of continuing to operate the Encore Boston Harbor integrated resort. For more information on the EBH Transaction, see Note 5, "Property and Equipment, net" and Note 16, "Leases."

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and include the accounts of the Company, its majority-owned subsidiaries, and entities the Company identifies as variable interest entities ("VIEs") of which the Company is determined to be the primary beneficiary. For information on the Company's VIEs, see Note 19, "Retail Joint Venture." If the entity does not qualify for consolidation and the Company has significant influence over the operating and financial decisions of the entity, the Company accounts for the entity under the equity method. For more information on the Company's equity method investments, see Investments in Unconsolidated Affiliate within Note 2, "Basis of Presentation and Significant Accounting Policies." All significant intercompany accounts and transactions have been eliminated. Certain amounts in the consolidated financial statements for the years ended December 31, 2023 and 2022 have been reclassified to be consistent with the current period presentation. These reclassifications had no effect on the previously reported net income (loss) or operating income (loss). Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and assumptions reflected in the financial statements relate to and include, but are not limited to, inputs into the Company's estimated allowance for deferred tax assets and credit losses, estimates regarding the useful lives and recoverability of long-lived and intangible assets, valuations of derivatives, and litigation and contingency estimates. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less and include both U.S. dollar-denominated and foreign currency-denominated securities. Cash equivalents are carried at cost, which approximates fair value. Restricted cash consists of cash collateral associated with obligations, cash held in a trust in accordance with WML's share award plan, and an amount held in the form of a first demand bank guarantee in favor of the Macau government to support Wynn Macau SA's legal and contractual obligations under the Gaming Concession Contract. Investments The Company's investments include financial assets in the form of interest-bearing fixed deposits with original maturities of greater than three months, which are recorded at fair value (see Note 10, "Fair Value Measurements"), and debt securities in the form of United States treasury bills. Investments in debt securities which the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and are carried at amortized cost. Debt securities held primarily for the purpose of selling in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses included in income. Debt securities not classified as held-to-maturity or trading are classified as available-for-sale and are reported at fair value with unrealized gains and losses as a separate component of other comprehensive income. Premiums and discounts on debt securities are amortized or accreted into interest income using the effective interest method. All of the Company’s debt securities are classified as held-to-maturity. The Company received proceeds of $300.0 million upon the maturity of its investments in debt securities and $550.0 million upon the maturity of its investments in fixed deposits during the year ended December 31, 2024. The Company held no short-term investments as of December 31, 2024. As of December 31, 2023, the Company held $550.0 million in fixed deposits, recorded at fair value, and $295.2 million in debt securities, recorded at amortized cost within Investments on the Consolidated Balance Sheets. The estimated fair value of the Company's debt securities as of December 31, 2023 was approximately $294.8 million and the gross unrecognized holding loss was $0.4 million. As of December 31, 2023, the Company had $8.7 million in accrued interest on its debt securities, recorded in Investments As of the balance sheet date, the Company evaluates whether the unrealized losses are attributable to credit losses or other factors. The Company considers the severity of the decline in value, creditworthiness of the issuer and other relevant factors and records an allowance for credit losses, limited to the excess of amortized cost over fair value, with a corresponding charge to earnings. The allowance may be subsequently increased or decreased based on the prevailing facts and circumstances. During the years ended December 31, 2024 and 2023, the Company recorded no allowance for credit losses related to its investments. Accounts Receivable and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino accounts receivable. The Company issues credit in the form of "markers" to approved casino customers following investigations of creditworthiness. Accounts receivable, including casino and hotel receivables, are typically non-interest bearing and are recorded at amortized cost. Casino receivables primarily consist of credit issued to patrons in the form of markers. The Company issues credit based on factors such as level of play and financial resources, following background and credit checks. The casino credit extended by the Company is generally unsecured and due on demand. An estimated allowance for credit losses is maintained to reduce the Company's receivables to their carrying amount, which reflects the net amount the Company expects to collect. The allowance estimate reflects specific review of customer accounts taking into consideration the amount owed, the age of the account, the customer's financial condition, management's experience with historical and current collection trends, current economic and business conditions, and management's expectations of future economic and business conditions and forecasts. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received. Inventories Inventories consist of retail merchandise and food and beverage items, which are stated at the lower of cost or net realizable value, and certain operating supplies. Cost is determined by the first-in, first-out, weighted average and specific identification methods. Property and Equipment Purchases of property and equipment are stated at cost, and when placed into service, are depreciated over the estimated useful lives of the assets using the straight-line method as follows: Estimated Useful Life in Years Buildings and improvements 10 - 45 Land improvements 10 - 45 Furniture, fixtures and equipment 3 - 20 Leasehold interest in land 25 Airplanes 20 Costs related to improvements are capitalized, while costs of repairs and maintenance are charged to expense as incurred. The cost and accumulated depreciation of property and equipment retired or otherwise disposed of are eliminated from the respective accounts and any resulting gain or loss is included in property charges and other expenses in the accompanying Consolidated Statements of Operations. Capitalized Interest The interest cost associated with major development and construction projects, and interest cost associated with equity method investments incurred during the investee's initial development period, is capitalized and included in the cost of the project or investment in unconsolidated affiliate balance. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use. When no debt is specifically identified as being incurred in connection with a construction project, the Company capitalizes interest on amounts expended on the project using the weighted average cost of the Company's outstanding borrowings. Interest of $23.0 million and $5.8 million was capitalized for the years ended December 31, 2024 and 2023, respectively, including $21.7 million and $3.6 million related to equity method investments for the years ended December 31, 2024 and 2023, respectively. No interest was capitalized for the year ended December 31, 2022. Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of the tangible and intangible assets acquired and the liabilities assumed. Goodwill is not amortized, but rather is subject to an annual impairment test. The Company tests goodwill for impairment annually, or more frequently if events or changes in circumstances indicate that this asset may be impaired. The Company’s test of goodwill impairment starts with a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. If qualitative factors indicate that the fair value of the reporting unit is more likely than not less than its carrying amount, then a quantitative goodwill impairment test is performed. For the quantitative analysis, the Company compares the fair value of its reporting unit to its carrying value. If the estimated fair value exceeds its carrying amount, goodwill is considered not to be impaired and no additional steps are necessary. However, if the fair value of the reporting unit is less than its carrying amount, goodwill impairment is recorded equal to the difference between the carrying amount of the reporting unit and its fair value, not to exceed the carrying amount of goodwill. Intangible Assets other than Goodwill The Company's intangible assets other than goodwill consist primarily of finite-lived intangible assets, including its Macau gaming concession and Massachusetts gaming license. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives. The Company's indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually. Long-Lived Assets Long-lived assets, which are to be held and used, including finite-lived intangible assets and property and equipment, are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. If an indicator of impairment exists, the Company compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then impairment is measured as the difference between fair value and carrying value, with fair value typically based on a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. Leases Lessee Arrangements The Company is the lessee under non-cancelable real estate and equipment leases. The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Finance and operating lease assets and liabilities are measured and recorded upon lease commencement at the present value of the future minimum lease payments. The Company combines lease and nonlease components in its determination of minimum lease payments, except for certain asset classes that have significant nonlease components. As the interest rate implicit in its leases is not readily determinable, the Company uses its incremental borrowing rate as the discount rate to determine the present value of lease payments. Lease terms include options to extend the lease when it is reasonably certain that such option will be exercised. The Company’s triple-net operating lease related to Encore Boston Harbor contains a renewal period at the Company’s option, which is not considered to be reasonably certain of being exercised. Many of the Company’s leases include fixed rental escalation clauses that are factored into the determination of lease payments. A lessee is required to classify a lease as a finance lease if, among other factors, 1) the term is for the major part of the remaining economic life of the underlying asset or 2) the present value of the sum of the lease payments equals or exceeds substantially all of the fair value of the underlying asset. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. For finance leases, the Company records depreciation of the lease asset on a straight-line basis over the shorter of the lease term or useful life of the lease asset, and the lease liability accretes interest using the discount rate determined at lease commencement. The Company does not record an asset or liability for leases with a term of less than one year. Variable lease costs generally arise from changes in an index, such as the consumer price index. Variable lease costs are expensed as incurred and are not included in the determination of lease assets or liabilities. For sale-leaseback arrangements, such as the EBH Transaction, the Company is required to determine whether the transaction qualifies as a sale, which includes assessing whether a contract exists and if so, whether control has passed to the counterparty in the contract. Control indicators include, but are not limited to, whether the entity has a present right to payment for the asset, whether the customer has legal title to the asset, whether the entity has transferred physical possession of the asset, whether the customer has significant risks and rewards of ownership of the asset, and whether the customer has accepted the asset. If it is determined that a sale has occurred, the Company recognizes an operating or finance lease based on the factors outlined in the preceding paragraph. A finance lease would preclude sale accounting. Lessor Arrangements The Company is the lessor under non-cancelable operating leases for retail and food and beverage outlet space at its integrated resorts, which represents approximately 102,000, 63,000, 187,000, and 52,000 square feet of space at Wynn Palace, Wynn Macau, Wynn Las Vegas, and Encore Boston Harbor, respectively. The lease arrangements generally include minimum base rent and contingent rental clauses based on a percentage of net sales. Generally, the terms of the leases range between five Investments in Unconsolidated Affiliate The Company accounts for its investment in Island 3, an unconsolidated affiliate which is constructing Wynn Al Marjan Island, using the equity method. Under the equity method, the investment's carrying value is adjusted for the Company’s share of the investee's earnings and losses, capital contributions to and distributions from this company, and capitalization of interest cost incurred by the Company during the investee's initial development period. As of December 31, 2024 and 2023, the Company had investments in unconsolidated affiliate of $648.2 million and $90.9 million, respectively, recorded in noncurrent other assets in the accompanying Consolidated Balance Sheets. The Company classifies operating income and losses as well as gains and impairments related to its investment in unconsolidated affiliate as a component of Operating income (loss) within the Company's accompanying Consolidated Statements of Operations, and classifies non-operating income or losses related to its investments in unconsolidated affiliates as a component of Other income (expense) within the Company's accompanying Consolidated Statements of Operations, as the Company’s investments in unconsolidated affiliate are an extension of the Company's core business operations. The Company recognized a loss on investments in unconsolidated affiliate of $6.1 million and $2.4 million during the years ended December 31, 2024 and 2023, respectively, recorded in Pre-opening within the Company's accompanying Consolidated Statements of Operations. Debt Issuance Costs Direct and incremental costs and original issue discounts and premiums incurred in connection with the issuance of long-term debt are deferred and amortized to interest expense using the effective interest method or, if the amounts approximate the effective interest method, on a straight-line basis. Debt issuance costs incurred in connection with the issuance of the Company's revolving credit facilities are presented in noncurrent other assets on the Consolidated Balance Sheets. All other debt issuance costs are presented as a direct reduction of long-term debt on the Consolidated Balance Sheets. Approximately $39.3 million, $39.5 million, and $29.4 million was amortized to interest expense during the years ended December 31, 2024, 2023, and 2022, respectively. Derivative Financial Instruments The Company enters into interest rate protection agreements to manage interest rate exposure on certain debt. The fair value of such agreements is recognized as an asset or liability at each balance sheet date, with changes in fair value recorded in earnings as these agreements do not qualify for hedge accounting. See Note 7, "Long-Term Debt" for additional information. See Note 8, "WML Convertible Bond Conversion Option Derivative" for accounting policy disclosures relating to the WML Convertible Bond Conversion Option Derivative (as defined therein). Revenue Recognition The Company's revenue from contracts with customers primarily consists of casino wagers and sales of rooms, food and beverage, entertainment, retail and other goods and services. Gross casino revenues are measured by the aggregate net difference between gaming wins and losses. The Company applies a practical expedient by accounting for its casino wagering transactions on a portfolio basis versus an individual basis as all wagers have similar characteristics. Commissions rebated to customers either directly or indirectly through games promoters and cash discounts and other cash incentives earned by customers are recorded as a reduction of casino revenues. In addition to the wager, casino transactions typically include performance obligations related to complimentary goods or services provided to incentivize future gaming or in exchange for points earned under the Company's loyalty programs. For casino transactions that include complimentary goods or services provided by the Company to incentivize future gaming, the Company allocates the standalone selling price of each good or service to the appropriate revenue type based on the good or service provided. Complimentary goods or services that are provided under the Company's control and discretion and supplied by third parties are recorded as an operating expense. The Company offers loyalty programs at each of its resorts. Customers earn points based on their level of table games and slots play, which can be redeemed for slots free play, gifts and complimentary goods or services provided by the Company. For casino transactions that include points earned under the Company's loyalty programs, the Company defers a portion of the revenue by recording the estimated standalone selling price of the earned points that are expected to be redeemed as a liability. Upon redemption of the points for Company-owned goods or services, the standalone selling price of each good or service is allocated to the appropriate revenue type based on the good or service provided. Upon the redemption of points with third parties, the redemption amount is deducted from the liability and paid directly to the third party with any difference between the amount paid and the stand-alone selling price recorded as Entertainment, retail and other revenue in the accompanying Consolidated Statements of Operations. After allocating amounts to the complimentary goods or services provided and to the points earned under the Company's loyalty programs, the residual amount is recorded as casino revenue when the wager is settled. The transaction price for rooms, food and beverage, entertainment, retail and other transactions is the net amount collected from the customer for such goods and services and is recorded as revenue when the goods are provided, services are performed or events are held. Sales tax and other applicable taxes collected by the Company are excluded from revenues. Advance deposits on rooms and advance ticket sales are performance obligations that are recorded as customer deposits until services are provided to the customer. Revenues from contracts with multiple goods or services are allocated to each good or service based on its relative standalone selling price. As previously noted, Entertainment, retail and other revenue also includes lease revenue, which is recognized in accordance with the relevant accounting principles. Gaming Taxes The Company is subject to taxes based on gross gaming revenues in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are recorded as casino expenses in the accompanying Consolidated Statements of Operations. These taxes totaled $1.83 billion, $1.57 billion, and $526.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. Advertising Costs The cost of advertising is expensed as incurred, and totaled $50.9 million, $112.6 million, and $148.6 million for the years ended December 31, 2024, 2023, and 2022, respectively. Pre-opening Expenses Pre-opening expenses represent personnel, advertising, and other costs incurred prior to the opening of new ventures and are expensed as incurred. During the year ended December 31, 2024, pre-opening expenses primarily included the Company's share of net losses from Island 3, the unconsolidated affiliate constructing Wynn Al Marjan Island. During the year ended December 31, 2023, the Company incurred pre-opening expenses primarily in connection with the launch of sports betting operations in Massachusetts . During the year ended December 31, 2022, the Company incurred pre-opening expenses primarily in connection with reconfiguring the theater space at Wynn Las Vegas to host an exclusive theatrical production, Awakening . Income Taxes The Company is subject to income taxes in the U.S. and foreign jurisdictions where it operates. Accounting standards require the recognition of deferred tax assets, net of applicable reserves, and liabilities for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities generally is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not; otherwise, a valuation allowance is applied. The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. The accounting standards prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. If a tax position, based on its technical merits, is deemed more likely than not to be sustained, then the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. Foreign Currency Gains or losses from foreign currency remeasurements are included in Other income (expense) in the accompanying Consolidated Statements of Operations. Balance sheet accounts are translated at the exchange rate in effect at each balance sheet date and income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive loss. Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) includes net income (loss) and all other non-stockholder changes in equity or other comprehensive income (loss). Components of the Company's comprehensive income (loss) are reported in the accompanying Consolidated Statements of Stockholders' Deficit and Consolidated Statements of Comprehensive Income (Loss). Fair Value Measurements The Company measures certain of its financial assets and liabilities, at fair value on a recurring basis pursuant to accounting standards for fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. These accounting standards establish a three-tier fair value hierarchy, which prioritizes the inputs used to measure fair value. These tiers include: • Level 1 - Observable inputs such as quoted prices in active markets. • Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable. • Level 3 - Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with accounting standards, which require the compensation cost relating to share-based payment transactions be recognized in the Company's Consolidated Statements of Operations. The cost is measured at the grant date, based on the estimated fair value of the award using the Black-Scholes option pricing model for stock options, based on the estimated fair value of the award using the Monte Carlo simulation approach for performance share units, and based on the closing share price of the Company's stock on the grant date for nonvested share awards. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. Expected volatility is based on implied and historical factors related to the Company's common stock. The risk-free interest rate used for each period presented is based on the U.S. Treasury yield curve for stock options issued under the WRL Omnibus Plan (as defined and discussed in Note 13, "Stock-Based Compensation") and the Hong Kong Exchange Fund rates for stock options issued under the WML Share Option Plan (as defined in Note 13, "Stock-Based Compensation"), both at the time of grant for the period equal to the expected term. Expected term represents the weighted average time between the option's grant date and its exercise date. The Company uses historical award exercise activity and termination activity in estimating the expected term for the WRL Omnibus Plan and WML Share Option Plan. The cost is recognized as an expense on a straight-line basis over the employee's requisite service period (the vesting period of the award), and forfeitures are recognized as they occur. The Company's stock-based employee compensation arrangements are more fully discussed in Note 13, "Stock-Based Compensation." Recently Issued Accounting Standards The Company’s management has evaluated all of the recently issued, but not yet effective, accounting standards that have been issued or proposed by the Financial Accounting Standards Board ("FASB") or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position, results of operations and cash flows.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	12 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash consisted of the following (in thousands): December 31, 2024 2023 Cash and cash equivalents: Cash (1) $ 1,639,151 $ 1,076,474 Cash equivalents (2) 787,004 1,802,712 Total cash and cash equivalents 2,426,155 2,879,186 Restricted cash (3) 95,638 90,226 Total cash, cash equivalents and restricted cash $ 2,521,793 $ 2,969,412 (1) Cash consists of cash on hand and bank deposits. (2) Cash equivalents consist of bank time deposits and money market funds. (3) Restricted cash consists of cash subject to certain contractual restrictions, cash collateral associated with obligations and cash held in a trust in accordance with WML's share award plan, and as of December 31, 2024 and 2023 includes $87.5 million and $87.0 million, respectively, in the form of a first demand bank guarantee in favor of the Macau government to support Wynn Macau SA's legal and contractual obligations through the term of the Gaming Concession Contract. The following table disclose the supplemental cash flow disclosures of the Company (in thousands): Year Ended December 31, 2024 2023 2022 Cash paid for interest, net of amounts capitalized $ 658,438 $ 688,350 $ 618,395 Capitalized stock-based compensation $ 5,242 $ 5,268 $ 3,246 Cash paid for income taxes $ 10,160 $ 10,310 $ 5,290 Finance lease liabilities arising from obtaining finance lease assets $ 80,021 $ 8,842 $ 5,906 Liability settled with shares of common stock $ 8,015 $ 6,639 $ 9,287 Accounts and construction payables related to property and equipment $ 85,949 $ 60,313 $ 64,861 Other liabilities related to intangible assets (1) $ — $ 209,410 $ 4,220 Net settlement of liabilities in connection with an asset sale $ 27,655 $ — $ — (1) For the year ended December 31, 2023, included $206.5 million related to the Macau gaming premium in connection with the Gaming Concession Contract. See Note 6, "Goodwill and Intangible Assets, net" for further information.

Receivables, net

Receivables, net	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Receivables, net	Receivables, net Receivables, net consisted of the following (in thousands): December 31, 2024 2023 Casino $ 236,642 $ 218,694 Hotel 45,996 54,596 Other 79,072 108,497 361,710 381,787 Less: allowance for credit losses (37,694) (40,075) $ 324,016 $ 341,712 As of December 31, 2024 and 2023, approximately 70.9% and 68.2%, respectively, of the Company's markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in the countries in which the Company's customers reside could affect the collectability of such receivables. The Company’s allowance for casino credit losses was 14.7% and 15.9% of gross casino receivables as of December 31, 2024 and 2023, respectively. Although the Company believes that its allowance is adequate, it is possible the estimated amounts of cash collections with respect to receivables could change. The Company’s allowance for credit losses from its hotel and other receivables is not material. The following table shows the movement in the Company's allowance for credit losses recognized for receivables that occurred during the period (in thousands): December 31, 2024 2023 Balance at beginning of year $ 40,075 $ 78,842 Provision for credit losses 4,986 (3,964) Write-offs (13,262) (47,611) Recoveries of receivables previously written-off 5,801 12,897 Effect of exchange rate 94 (89) Balance at end of period $ 37,694 $ 40,075

Property and Equipment, net

Property and Equipment, net	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consisted of the following (in thousands): December 31, 2024 2023 Buildings and improvements $ 8,547,922 $ 8,459,085 Land and improvements 1,210,455 1,228,652 Furniture, fixtures and equipment 3,424,361 3,311,478 Airplanes 110,623 110,623 Construction in progress 287,436 162,592 13,580,797 13,272,430 Less: accumulated depreciation (7,059,514) (6,583,951) $ 6,521,283 $ 6,688,479 As of December 31, 2024 and 2023, construction in progress consisted primarily of costs capitalized for various capital enhancements at the Company's properties. During the year ended December 31, 2024, the Company expensed $61.5 million of project costs related to a discontinued development project, inclusive of $4.7 million of internally allocated overhead, that had been previously capitalized. The expense was recorded in Property charges and other expenses in the accompanying Consolidated Statements of Operations for the year ended December 31, 2024. Depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $601.4 million, $625.0 million, and $652.1 million, respectively. Encore Boston Harbor Real Estate Sale Upon closing of the EBH Transaction in December 2022, the Company received cash proceeds of approximately $1.70 billion in exchange for the sale of certain real estate assets associated with Encore Boston Harbor. In connection with the sale, the Company recognized a gain of $182.0 million in the fourth quarter of 2022. Macau Operations Property Transfer Agreements In December 2022, in accordance with the requirements of the Macau Gaming Law, Wynn Macau SA and Palo Real Estate Company Limited ("Palo"), a subsidiary of Wynn Macau SA, entered into agreements (collectively, the "Property Transfer Agreements") with the Macau government, pursuant to which Wynn Macau SA and Palo transferred the casino areas and gaming equipment of the Company's Macau Operations to the Macau government without compensation on December 31, 2022, and the Macau government agreed to transfer such casino areas and gaming equipment back to Wynn Macau SA as of January 1, 2023, for its use in the operation of games of chance at Wynn Macau and Wynn Palace as permitted under the Gaming Concession Contract through December 31, 2032. As the Company expects to continue to operate the casino areas and gaming equipment at its Macau Operations in the same manner as under the previous concession, obtain substantially all of the economic benefits, and bear all of the risks arising from the use of these assets, and believes it will be awarded a new concession upon the expiration of the Gaming Concession Contract, the Company will continue to recognize the casino areas and gaming equipment as property and equipment over their remaining estimated useful lives. Pursuant to the Gaming Concession Contract, Wynn Macau SA will revert to the Macau government the casino areas and gaming equipment, without compensation and free of encumbrance, upon the rescission or termination of the gaming concession on December 31, 2032.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, net	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, net	Goodwill and Intangible Assets, net Goodwill and intangible assets, net consisted of the following (in thousands): December 31, 2024 2023 Finite-lived intangible assets: Macau gaming concession $ 210,630 $ 209,199 Less: accumulated amortization (42,126) (20,920) 168,504 188,279 Massachusetts gaming license 117,700 117,700 Less: accumulated amortization (43,331) (35,484) 74,369 82,216 Other finite-lived intangible assets 5,400 50,154 Less: accumulated amortization (2,071) (17,801) 3,329 32,353 Total finite-lived intangible assets 246,202 302,848 Indefinite-lived intangible assets: Water rights and other 8,397 8,397 Total indefinite-lived intangible assets 8,397 8,397 Goodwill: Balance at beginning of year 18,463 90,520 Impairment — (72,057) Balance end of period 18,463 18,463 Total goodwill and intangible assets, net $ 273,062 $ 329,708 Massachusetts Finite-Lived Intangible Assets The Massachusetts gaming license is a finite-lived intangible asset that is being amortized over the 15 year life of the license. The Company expects that amortization of the Massachusetts gaming license will be $7.8 million each year from 2025 through 2033, and $3.7 million in 2034. Wynn Interactive Goodwill and Finite-Lived Intangible Assets Other finite-lived intangible assets consisted of market access rights and gaming license fees. During the year ended December 31, 2024, the Company sold its market access rights and related obligations in Michigan, and pursuant to a separate equity purchase agreement, sold WSI US, LLC, Wynn Interactive’s domestic operating subsidiary, which included the Company’s gaming license in New York. As a result of these transactions, the Company recognized a gain of $24.6 million in Property charges and other expenses in the accompanying Consolidated Statements of Operations for the year ended December 31, 2024. As of December 31, 2024, the Company had no remaining goodwill or intangible assets related to Wynn Interactive. During the year ended December 31, 2023, as a result of the Company's decision to cease operating Wynn Interactive's digital sports betting and casino platform announced in August 2023, the Company identified interim indicators of impairment related to the goodwill assigned to the WynnBet reporting unit. As a result, the Company performed an impairment test and determined that the carrying value of its goodwill exceeded the estimated fair value of that reporting unit based on a combination of the income and cost approaches, causing the Company to recognize a goodwill impairment loss of $72.1 million. The Company also recognized impairment of other finite-lived intangible assets related to Wynn Interactive's closed operations totaling $22.4 million during the year ended December 31, 2023. During the year ended December 31, 2022, as a result of changes in forecasts and other industry-specific factors and management's decision to cease the operations of Betbull Limited, a subsidiary of Wynn Interactive, the Company recognized impairment of goodwill and other finite-lived intangible assets Macau Gaming Concession On January 1, 2023, the Company recognized an intangible asset and financial liability of MOP1.68 billion (approximately $208.3 million), representing the right to operate games of chance at Wynn Palace and Wynn Macau and the unconditional obligation to make payments under the Gaming Concession Contract. This intangible asset comprises the contractually obligated annual payments of fixed and variable premiums, as well as fees associated with the Property Transfer Agreements (as described in Note 5, "Property and Equipment, net"). The contractually obligated annual variable premium payments associated with the intangible asset were determined using the total number of gaming tables and gaming machines that Wynn Macau SA is currently approved to operate by the Macau government. In the accompanying Consolidated Balance Sheets, the noncurrent portion of the financial liability is included in "Other long-term liabilities" and the current portion is included in "Other accrued liabilities." The intangible asset is being amortized on a straight-line basis over the 10-year term of the Gaming Concession Contract. The Company expects that amortization of the Macau Gaming Concession will be $21.1 million each year from 2025 to 2032. As of December 31, 2024, the Company expects to pay fixed and variable premium payment amounts of $14.6 million in each of the years ending December 31, 2025, 2026, 2027, 2028, and 2029, and an aggregate amount of $44.7 million thereafter through December 31, 2032.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following (in thousands): December 31, 2024 2023 Macau Related: WM Cayman II Revolver, due 2028 (1) $ 1,151,874 $ 1,497,610 WML 4 7/8% Senior Notes, due 2024 (2) — 600,000 WML 5 1/2% Senior Notes, due 2026 1,000,000 1,000,000 WML 5 1/2% Senior Notes, due 2027 750,000 750,000 WML 5 5/8% Senior Notes, due 2028 1,350,000 1,350,000 WML 5 1/8% Senior Notes, due 2029 1,000,000 1,000,000 WML 4 1/2% Convertible Bonds, due 2029 (3) 600,000 600,000 U.S. and Corporate Related: WRF Credit Facilities (4) : WRF Term Loan, due 2024 — 73,683 WRF Term Loan, due 2027 763,125 730,692 WLV 5 1/2% Senior Notes, due 2025 (2) — 1,380,001 WLV 5 1/4% Senior Notes, due 2027 880,000 880,000 WRF 5 1/8% Senior Notes, due 2029 750,000 750,000 WRF 7 1/8% Senior Notes, due 2031 1,000,000 600,000 WRF 6 1/4% Senior Notes, due 2033 800,000 — Retail Term Loan, due 2027 (5) 600,000 615,000 10,644,999 11,826,986 WML Convertible Bond Conversion Option Derivative 33,007 73,744 Less: Unamortized debt issuance costs and original issue discounts and premium, net (136,272) (162,393) 10,541,734 11,738,337 Less: Current portion of long-term debt (41,250) (709,593) Total long-term debt, net of current portion $ 10,500,484 $ 11,028,744 (1) As of December 31, 2024, the borrowings under the WM Cayman II Revolver bear interest at the term secured overnight financing rate ("Term SOFR") plus a credit adjustment spread of 0.10% or the Hong Kong Interbank Offered Rate ("HIBOR"), in each case plus a margin of 1.875% to 2.875% per annum based on WM Cayman II’s leverage ratio on a consolidated basis. Approximately $239.1 million and $912.8 million of the WM Cayman II Revolver bears interest at a rate of Term SOFR plus 1.975% per year and HIBOR plus 1.875% per year, respectively. As of December 31, 2024 and 2023, the weighted average interest rate was approximately 6.43% and 7.20%, respectively. As of December 31, 2024, the available borrowing capacity under the WM Cayman II Revolver was $353.8 million. (2) In October 2024, the Company repaid or repurchased the 2024 WML Senior Notes and 2025 WLV Senior Notes. (3) As of December 31, 2024, the net carrying amount of the WML Convertible Bonds was $498.4 million, with unamortized debt discount and debt issuance costs of $101.6 million. The Company recorded contractual interest expense of $27.0 million and $22.1 million and amortization of discounts and issuance costs of $18.9 million and $14.2 million during the years ended December 31, 2024 and 2023. (4) The WRF Credit Facilities bear interest at a rate of Term SOFR plus 1.75% per year. As of December 31, 2024 and 2023, the weighted average interest rate was approximately 6.21% and 7.21%, respectively. Additionally, as of December 31, 2024, the available borrowing capacity under the WRF Revolver was $735.3 million, net of $14.7 million in outstanding letters of credit. (5) As of December 31, 2024, the Retail Term Loan bears interest at a rate of adjusted daily simple secured overnight financing rate ("SOFR") plus 2.15% per year. As of December 31, 2023, the Retail Term Loan bore interest at a rate of adjusted daily SOFR plus 1.80% per year. As of December 31, 2024 and 2023, the effective interest rate was 5.54% and 5.47%, respectively. Macau Related Debt WM Cayman II Revolver In September 2021, WM Cayman Holdings Limited II, an indirect wholly owned subsidiary of WML, as borrower ("WM Cayman II") and WML as guarantor, each an indirect subsidiary of Wynn Resorts, entered into a facility agreement with, among others, Bank of China Limited, Macau Branch as agent and a syndicate of lenders (the "Facility Agreement"), pursuant to which the lenders will make available in an aggregate amount of $1.50 billion equivalent revolving unsecured credit facility consisting of a U.S. dollar tranche in an amount of $312.5 million ("Facility A") and a Hong Kong dollar tranche ("Facility B") in an amount of HK$9.26 billion (approximately $1.19 billion) to WM Cayman II (the "WM Cayman II Revolver"). WM Cayman II has the ability to upsize the total WM Cayman II Revolver by an additional $1.00 billion equivalent under the Facility Agreement and related agreements upon the satisfaction of various conditions. WML , as guarantor, may be subject to certain restrictions on payments of dividends or distributions to its shareholders, unless certain financial criteria have been satisfied through the Facility Agreement. Pursuant to the Facility Agreement, as amended in May 2022 and as amended and restated in June 2023 (the "Amended and Restated Facility Agreement"), loans provided under Facility A bear interest at a variable rate per annum equal to: (a) Term SOFR, plus a credit adjustment spread of 0.10% (subject to a minimum floor of 0.00%), plus (b) a margin of 1.875% to 2.875% based on the consolidated leverage ratio of WM Cayman II and its subsidiaries (as calculated pursuant to the Amended and Restated Facility Agreement), and loans provided under Facility B bear interest at a variable rate per annum equal to: (i) HIBOR plus (ii) a margin of 1.875% to 2.875% based on the consolidated leverage ratio of WM Cayman II and its subsidiaries (as calculated pursuant to the Amended and Restated Facility Agreement). In September 2024, WM Cayman II, as borrower and WML, as guarantor, entered into an amendment agreement (the "Second Amendment Agreement") to the Amended and Restated Facility Agreement, to extend the maturity date of the outstanding loans from September 16, 2025 to September 16, 2028, or the immediately preceding business day if September 16, 2028 is not a business day. In connection with the Second Amendment Agreement, the Company recorded debt issuance costs of $19.2 million within the Consolidated Balance Sheet. WML Convertible Bonds In March 2023, WML completed an offering of $600 million 4.50% convertible bonds due 2029 (the "WML Convertible Bonds"). The WML Convertible Bonds are governed by a trust deed dated March 7, 2023 (the "Trust Deed"), between WML and DB Trustees (Hong Kong) Limited, as trustee. WML, DB Trustees (Hong Kong) Limited, as trustee, and Deutsche Bank Trust Company Americas entered into an agency agreement, appointing Deutsche Bank Trust Company Americas as the principal paying agent, principal conversion agent, transfer agent and registrar in relation to the WML Convertible Bonds. The WML Convertible Bonds bear interest on their outstanding principal amount from and including March 7, 2023 at the rate of 4.50% per annum, payable semi-annually in arrears on March 7 and September 7 of each year. At any time on or after April 17, 2023, the WML Convertible Bonds are convertible at the option of the holder thereof into fully paid ordinary shares of WML, each with a nominal value of HK$0.001 per share ("Ordinary Shares"), at the initial conversion price of approximately HK$10.24 (equivalent to approximately $1.32) per share, subject to and upon compliance with the terms and conditions of the WML Convertible Bonds (the "Terms and Conditions," and such right, the "Conversion Right"). The conversion price is at the fixed exchange rate of HK$7.8497 per $1.00, subject to standard adjustments for certain dilutive events as described in the Terms and Conditions. WML has the option upon conversion by a bondholder to pay an amount of cash equivalent described in the Terms and Conditions in order to satisfy such Conversion Right in whole or in part. As of December 31, 2024, the adjusted conversion price was HK$10.01 (equivalent to approximately $1.29) per share as a result of dividend payments made by WML during the year ended December 31, 2024. Holders of the WML Convertible Bonds have the option to require WML to redeem all or some of such holder’s WML Convertible Bonds (i) on March 7, 2027 at their principal amount together with interest accrued but unpaid to, but excluding, the date fixed for redemption; or (ii) on the Relevant Event Redemption Date (as defined in the Terms and Conditions) at their principal amount together with interest accrued but unpaid to, but excluding, such date, following the occurrence of (a) when the Ordinary Shares cease to be listed or admitted to trading or are suspended from trading for a period equal to or exceeding 10 consecutive trading days on the Stock Exchange of Hong Kong Limited ("HKSE"), or if applicable, the alternative stock exchange, (b) when there is a Change of Control (as defined in the Terms and Conditions), or (c) when less than 25% of WML’s total number of issued Ordinary Shares are held by the public (as interpreted under Rule 8.24 of the Rules Governing the Listing of Securities on the HKSE). The WML Convertible Bonds may also be redeemed at the option of WML under certain circumstances specified in the Terms and Conditions, in whole, but not in part, at any time after March 7, 2027, but prior to March 7, 2029, upon giving notice to the bondholders in accordance with the Terms and Conditions. The WML Convertible Bonds constitute direct, unsubordinated, unconditional and, subject to the Terms and Conditions, unsecured obligations of WML and rank pari passu and without any preference or priority among themselves. The Ordinary Shares to be issued upon exercise of Conversion Right will be fully-paid and will in all respects rank pari passu with the fully-paid Ordinary Shares in issue on the relevant registration date set forth in the Terms and Conditions. The Trust Deed contains covenants limiting WML's and all of its subsidiaries' ability to, among other things, create, permit to subsist or arise or have outstanding any mortgage, charge, pledge, lien or other encumbrance or certain security interest; consolidate or merge with or into another company; and sell, assign, transfer, convey or otherwise dispose of all or substantially all of its and its subsidiaries’ properties or assets, with certain exceptions. The Trust Deed also contains customary events of default. The Company determined that the conversion feature contained within the WML Convertible Bonds is required to be bifurcated from the debt host contract and accounted for as a free-standing derivative (the "WML Convertible Bond Conversion Option Derivative") recorded within Long-term debt within the accompanying Consolidated Balance Sheet. In accordance with applicable accounting standards, the WML Convertible Bond Conversion Option Derivative is reported at fair value as of the end of each reporting period, with changes recognized in the statements of operations. For more information, see "Note 8 - WML Convertible Bond Conversion Option Derivative." WML Senior Notes WML 5 1/2% Senior Notes due 2026, WML 5 1/2% Senior Notes due 2027, WML 5 5/8% Senior Notes due 2028, and WML 5 1/8% Senior Notes due 2029 (collectively, the "WML Senior Notes") bear interest at each of their respective interest rates and interest is payable semi-annually. The WML Senior Notes are WML's general unsecured obligations and rank pari passu in right of payment with all of WML's existing and future senior unsecured indebtedness, will rank senior to all of WML's future subordinated indebtedness, if any; will be effectively subordinated to all of WML's future secured indebtedness to the extent of the value of the assets securing such debt; and will be structurally subordinated to all existing and future obligations of WML's subsidiaries, including the WM Cayman II Revolver. The WML Senior Notes are not registered under the Securities Act of 1933, as amended (the "Securities Act") and are subject to restrictions on transferability and resale. The WML Senior Notes were issued pursuant to indentures between WML and Deutsche Bank Trust Company Americas, as trustee (the "WML Senior Notes Indentures"). The WML Senior Notes Indentures contain covenants limiting WML’s (and certain of its subsidiaries’) ability to, among other things: merge or consolidate with another company; transfer or sell all or substantially all of its properties or assets; and lease all or substantially all of its properties or assets. The WML Senior Notes Indentures also contain customary events of default. In the case of an event of default arising from certain events of bankruptcy or insolvency, all WML Senior Notes then outstanding will become due and payable immediately without further action or notice. Upon the occurrence of (a) any event after which none of WML or any subsidiary of WML has the applicable gaming concessions or authorizations in Macau in substantially the same manner and scope as WML and its subsidiaries are entitled to at the date on which each of the WML Senior Notes are issued, for a period of 10 consecutive days or more, and such event has a material adverse effect on WML and its subsidiaries, taken as a whole; or (b) the termination or modification of any such concessions or authorizations which has a material adverse effect on WML and its subsidiaries, taken as a whole, each holder of the WML Senior Notes will have the right to require WML to repurchase all or any part of such holder’s WML Senior Notes at a purchase price in cash equal to 100% of the principal amount thereof, plus accrued and unpaid interest. If WML undergoes a Change of Control (as defined in the WML Senior Notes Indentures), it must offer to repurchase the WML Senior Notes at a price equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest. In October 2024, WML repaid the $600.0 million aggregate principal amount of WML's 4 7/8% Senior Notes due 2024 on their stated maturity date. U.S. and Corporate Related Debt WRF Credit Facilities During 2019, WRF entered into a credit agreement (the "WRF Credit Agreement") providing for a first lien term loan facility in an aggregate principal amount of $1.00 billion (the "WRF Term Loan") and a first lien revolving credit facility in an aggregate principal amount of $850.0 million (the "WRF Revolver" and together with the WRF Term Loan, the "WRF Credit Facilities"). In May 2023, WRF and certain of its subsidiaries entered into an amendment to the WRF Credit Facility Agreement to: (i) transition the benchmark rate from LIBOR to Term SOFR and to make conforming changes, (ii) reduce the aggregate principal amount of revolving commitments under the revolving credit facility by $100.0 million, from $850.0 million to $750.0 million, (iii) extend the stated maturity date for lenders electing to extend their revolving commitments in an amount equal to approximately $681.3 million from September 20, 2024 to September 20, 2027, and (iv) extend the stated maturity date for lenders electing to extend their term loan commitments in an amount equal to approximately $749.4 million from September 20, 2024 to September 20, 2027. Lenders who elected not to extend their revolving commitments in an amount equal to approximately $68.7 million remained subject to a stated maturity date of September 20, 2024, and lenders who elected not to extend their term loan commitments in an amount equal to approximately $75.6 million remained subject to a stated maturity date of September 20, 2024. Subject to certain exceptions, the WRF Credit Facilities bear interest at Term SOFR plus 1.75% per annum. The annual fee required to pay for unborrowed amounts under the WRF Revolver, if any, is 0.25% per annum. The Company is required to make quarterly repayments on the WRF Term Loan of $10.3 million, with any remaining principal amount outstanding repayable in full on the term loan's respective stated maturity date. In September 2024, WRF and certain of its subsidiaries entered into an amendment (the "WRF Credit Facility Amendment") to its existing credit agreement to extend the stated maturity of $68.7 million aggregate principal amount of revolving commitments and $71.8 million aggregate principal of term loan commitments from September 20, 2024 to September 20, 2027. In connection with the 2024 WRF Credit Facility Amendment, the Company recognized a loss on debt financing transactions of $0.1 million within the accompanying Consolidated Statement of Operations, and the Company recorded debt issuance costs of $0.5 million within the Consolidated Balance Sheet. The WRF Credit Agreement contains customary representations and warranties, events of default and negative and affirmative covenants, including, but not limited to, covenants that restrict our ability to pay dividends or distributions to any direct or indirect subsidiaries, to incur and/or repay indebtedness, to make certain restricted payments, and to enter into mergers and acquisitions, negative pledges, liens, transactions with affiliates, and sales of assets. In addition, WRF is subject to financial covenants, including maintaining a Consolidated First Lien Net Leverage Ratio, as defined in the WRF Credit Agreement. The Consolidated Senior Secured Net Leverage Ratio is not to exceed 3.75 to 1.00. The WRF Credit Facilities are guaranteed by each of WRF's existing and future wholly owned domestic restricted subsidiaries (the "Guarantors"), subject to certain exceptions, and are secured by a first priority lien on substantially all of WRF's and each of the guarantors' existing and future property and assets, subject to certain exceptions, including a limitation on the amount of collateral granted by Wynn Las Vegas, LLC ("WLV") and its subsidiaries so as to not violate the indenture governing WLV's outstanding senior notes. WRF Senior Notes In April 2020, WRF and its subsidiary Wynn Resorts Capital Corp. (collectively with WRF, the "WRF Issuers"), each an indirect wholly owned subsidiary of the Company, issued $750.0 million aggregate principal amount of 5 1/8% Senior Notes due 2029 (the "2029 WRF Senior Notes"). In February 2023, the WRF Issuers issued $600.0 million aggregate principal amount of 7 1/8% Senior Notes due 2031 (the "2031 WRF Senior Notes") in a private offering. The 2031 WRF Senior Notes were issued at par, for net proceeds of $596.2 million, which were used to repurchase WRF senior notes outstanding at that time. In February 2024, the WRF Issuers issued an additional $400.0 million aggregate principal amount of 7 1/8% Senior Notes due 2031 (the "2031 WRF Add-On Senior Notes"), and collectively with the 7 1/8% Senior Notes due 2031 (the "2031 WRF Senior Notes"). The 2031 WRF Add-On Senior Notes were issued at a price equal to 103.00% of the principal amount plus accrued interest, resulting in net proceeds of $409.5 million. The net proceeds from the 2031 WRF Add-On Senior Notes, together with cash held by Wynn Resorts, were used to repurchase an aggregate $796.7 million of the outstanding principal amount of the 2025 WLV Senior Notes (as defined below) and to pay the applicable tender premium and related fees and expenses. In connection with the issuance of the 2031 WRF Add-On Senior Notes and the repurchase of the 2025 WLV Senior Notes in February and March 2024 (as further discussed below), the Company recognized a loss on debt financing transactions of $1.6 million within the accompanying Consolidated Statements of Operations, and the Company recorded debt issuance costs of $5.6 million within the accompanying Consolidated Balance Sheet. In September 2024, the WRF Issuers issued $800.0 million aggregate principal amount of 6 1/4% Senior Notes due 2033 (the "2033 WRF Senior Notes") in a private offering exempt from the registration requirements of the Securities Act, as amended. The 2033 WRF Senior Notes were issued at par, for proceeds of $795.0 million, net of $5.0 million of related fees and expenses. A portion of the proceeds from the offering of the 2033 WRF Senior Notes was used in October 2024 to repurchase the remaining outstanding principal amount of the 2025 WLV Senior Notes (as defined below) in full. In connection with the issuance of the 2033 WRF Senior Notes and the repurchase of the 2025 WLV Senior Notes in October 2024 (as further discussed below), the Company recognized a loss on debt financing transactions of $1.1 million within the accompanying Consolidated Statements of Operations, and the Company recorded debt issuance costs of $8.2 million within the accompanying Consolidated Balance Sheet. The 2029 WRF Senior Notes, the 2031 WRF Senior Notes and the 2033 WRF Senior Notes (collectively the "WRF Senior Notes") were issued pursuant to indentures (the "WRF Indentures") among the WRF Issuers, the Guarantors party thereto, and U.S. Bank National Association, as trustee (the "Trustee"). The WRF Senior Notes bear interest at each of their respective interest rates and interest is payable semi-annually. The WRF Senior Notes are the WRF Issuers' senior unsecured obligations and rank pari passu in right of payment with the WLV Senior Notes (as defined below), and rank equally in right of payment with Wynn Las Vegas' guarantee of the WRF Credit Facilities, and rank senior in right of payment to all of the WRF Issuers' existing and future subordinated debt. The WRF Senior Notes are effectively subordinated in right of payment to all of the WRF Issuers' existing and future secured debt (to the extent of the value of the collateral securing such debt), and structurally subordinated to all of the liabilities of any of the WRF Issuers' subsidiaries that do not guarantee the WRF Senior Notes, including WML and its subsidiaries. The WRF Senior Notes are jointly and severally guaranteed by each of WRF's existing domestic restricted subsidiaries that guarantee indebtedness under the WRF Credit Agreement, including Wynn Las Vegas, LLC and each of its subsidiaries that guarantees the WLV Senior Notes. The guarantees are senior unsecured obligations of the Guarantors and rank senior in right of payment to all of their future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the Guarantors that are not so subordinated and will be effectively subordinated in right of payment to all of such Guarantors' existing and future secured debt (to the extent of the collateral securing such debt). The WRF Indentures contains covenants that limit the ability of the WRF Issuers and the Guarantors to, among other things, enter into sale-leaseback transactions, create or incur liens to secure debt, and merge, consolidate or sell all or substantially all of the WRF Issuers' assets. These covenants are subject to exceptions and qualifications set forth in the WRF Indentures. The WRF Indentures also contain customary events of default, including, but not limited to, failure to make required payments, failure to comply with certain covenants, certain events of bankruptcy and insolvency, and failure to pay certain judgments. The WRF Senior Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act. The WRF Senior Notes have not been and will not be registered under the Securities Act or under any state securities laws. Therefore, the WRF Senior Notes may not be offered or sold within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws. WLV Senior Notes Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. ("Capital Corp." and together with Wynn Las Vegas, LLC, the "Issuers") issued $1.80 billion 5 1/2% Senior Notes due 2025 (the "2025 WLV Senior Notes"), and $900.0 million 5 1/4% Senior Notes due 2027 (the 2027 WLV Senior Notes) pursuant to indentures, dated February 18, 2015 (the "2025 Indenture"), and May 11, 2017 (the "2027 Indenture"), respectively, among the Issuers, the WLV Guarantors (as defined below) and the Trustee. In February and March 2024, Wynn Las Vegas repurchased $800.0 million aggregate principal amount of 2025 WLV Senior Notes, which consisted of i) $681.0 million aggregate principal amount of validly tendered notes repurchased at a price equal to 97.2% of the principal amount, plus accrued interest and an early tender premium of $20.3 million, and ii) $119.0 million aggregate principal amount of notes repurchased on a pro-rata basis at a price equal to 100% of the principal amount, plus accrued interest, under the terms of its indenture. Included in the $119.0 million repurchase was $3.3 million aggregate principal amount of 2025 WLV Senior Notes held by Wynn Resorts. The Company used the net proceeds from the 2031 WRF Add-On Senior Notes and cash held by WRF to purchase such validly tendered 2025 WLV Senior Notes and to pay the early tender premium and related fees and expenses. In October 2024, Wynn Las Vegas repurchased the remaining $600.0 million aggregate principal amount of its 2025 WLV Senior Notes at a price equal to 100.0% of the principal amount, plus a "make-whole" amount and accrued interest, under the terms of its indenture. Included in the $600.0 million repurchase was $16.7 million aggregate principal amount of 2025 WLV Senior Notes held by Wynn Resorts. In 2018, Wynn Resorts purchased $20.0 million principal amount of 2027 WLV Senior Notes through open market purchases. As of December 31, 2024, Wynn Resorts holds the 2027 WLV Senior Notes and has not contributed it to its wholly owned subsidiary, WLV. The 2027 WLV Senior Notes are the WLV Issuers' senior unsecured obligations and each rank pari passu in right of payment. The 2027 WLV Senior Notes are unsecured, except by the first priority pledge by Wynn Las Vegas Holdings, LLC ("WLVH"), a direct wholly owned subsidiary of Wynn Resorts Finance, LLC, of its equity interests in Wynn Las Vegas, LLC. If Wynn Resorts receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2027 WLV Senior Notes will be released. The 2027 WLV Senior Notes are jointly and severally guaranteed by all of the WLV Issuers' subsidiaries, other than Capital Corp., which was a co-issuer (the "WLV Guarantors"). The guarantees are senior unsecured obligations of the WLV Guarantors and rank senior in right of payment to all of their existing and future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the WLV Guarantors that are not so subordinated and will be effectively subordinated in right of payment to all of such WLV Guarantors' existing and future secured debt (to the extent of the collateral securing such debt). The 2027 Indenture contains covenants limiting the WLV Issuers' and the WLV Guarantors' ability to create liens on assets to secure debt; enter into sale-leaseback transactions; and merge or consolidate with another company. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. Events of default under the 2027 Indenture includes, among others, the following: default for 30 days in the payment of interest when due on the 2027 WLV Senior Notes; default in payment of the principal or premium, if any, when due on the 2027 WLV Senior Notes; failure to comply with certain covenants in the 2027 Indenture; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Issuers or any WLV Guarantor, all 2027 WLV Senior Notes then outstanding will become due and payable immediately without further action or notice. The Issuers and certain of their subsidiaries will guarantee and secure their obligation under the WRF Credit Facilities with liens on substantially all of their assets, with such liens limiting the amount of such obligations secured to 15% of their total assets. The 2027 WLV Senior Notes were offered pursuant to an exemption under the Securities Act only to qualified institutional buyers in reliance on Rule 144A under the Securities Act. The 2027 WLV Senior Notes have not been and will not be registered under the Securities Act or under any state securities laws. Therefore, the 2027 WLV Senior Notes may not be offered or sold within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws. Retail Term Loan In 2018, Wynn/CA Plaza Property Owner, LLC and Wynn/CA Property Owner, LLC (collectively, the "Retail Borrowers"), subsidiaries of the Retail Joint Venture, entered into a term loan agreement (together with its subsequent amendments, the "Retail Term Loan Agreement"). On June 2, 2023, the Borrowers entered into an amendment effective as of July 3, 2023, which amended the Retail Term Loan Agreement to transition the benchmark interest rate applicable to the secured loan in an aggregate principal amount of $615.0 million issued to the Borrowers thereunder from LIBOR to SOFR and to make related conforming changes to the Retail Term Loan Agreement. The Retail Term Loan Agreement provides for a term loan facility to the Retail Borrowers of $615.0 million (the "Retail Term Loan"). The Retail Term Loan is secured by substantially all of the assets of the Retail Borrowers. The Retail Borrowers distributed approximately $589 million of the net proceeds of the Retail Term Loan to their members on a proportionate basis to each member's ownership percentage. The Retail Borrowers may prepay the Retail Term Loan, in whole or in part, at any time with no premium above the principal amount. In accordance with the terms of the Retail Term Loan Agreement, the Retail Borrowers entered into an interest rate collar with a notional value of $615.0 million and a termination date of August 1, 2024, the underlying reference rate of which was transitioned from LIBOR to SOFR concurrently with the Retail Term Loan. The Company measured the fair value of the interest rate collar based on a Black-Scholes option pricing model, which incorporates observable market inputs such as market volatility and interest rates, with changes in fair value recorded in earnings. As of December 31, 2023, the fair value of the interest rate collar was an asset of $5.8 million, recorded in Prepaid expenses and other in the accompanying Consolidated Balance Sheets. In October 2024, the Retail Borrowers entered into a third amendment (the "Retail Term Loan Amendment") to their existing term loan agreement. The Retail Term Loan Amendment, amends the Retail Term Loan Agreement to, among other things: (i) extend the scheduled maturity date of the term loan to July 24, 2027; (ii) provide for an interest rate on the term loan equal to One Month Term SOFR (as defined in, and determined in accordance with, the Retail Term Loan Agreement) plus a spread of 215 basis points; and (iii) require that the Retail Borrowers meet a specified maximum loan to value ratio annually (which, if not met, triggers a mandatory excess cash sweep until such ratio has been achieved) as well as certain specified minimum debt yields. In connection with, and as provided under, the Retail Term Loan Amendment, the Retail Borrowers made a principal prepayment of the term loan in the amount of $15.0 million. In connection with the Retail Term Loan Amendment, the Company recognized a loss on debt financing transaction of $0.1 million within the accompanying Consolidated Statements of Operations, and the Company recorded debt issuance costs of $2.4 million within the accompanying Consolidated Balance Sheet. In accordance with the terms of the Retail Term Loan Amendment, the Retail Borrowers entered into an interest rate swap agreement in October 2024 with a notional value of $600.0 million. The interest rate swap effectively fixes the variable component of the interest rate on the Retail Term Loan at 3.385% whereby the Retail Borrowers will pay the counterparty 3.385% and the counterparty will pay the Retail Borrowers one-month SOFR. The interest rate swap settles monthly through the termination date in February 2027. The Company measures the fair value of the interest rate swap at each balance sheet date based on a discounting the future cash flows of both the fixed and variable rate interest payments based on market yield curves, with changes in fair value recorded in earnings. As of December 31, 2024, the fair value of the interest rate swap was an asset of $7.5 million, of which $3.9 million was recorded in Prepaid expenses and other and $3.6 million was recorded in Other assets in the accompanying Consolidated Balance Sheets. The Retail Term Loan Agreement contains customary representations and warranties, events of default and affirmative and negative covenants for debt facilities of this type, including, among other things, limitations on leasing matters, incurrence o

WML Convertible Bond Conversion

WML Convertible Bond Conversion Option Derivative	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
WML Convertible Bond Conversion Option Derivative	Note 8 - WML Convertible Bond Conversion Option Derivative An embedded derivative is a feature contained within a contract that affects some or all of the cash flows or the value of other exchanges required by the contract in a manner similar to a derivative instrument. Embedded derivatives are required to be bifurcated and accounted for separately from the host contract and carried at fair value when: (a) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract; and (b) a separate, freestanding instrument with the same terms would qualify as a derivative instrument. The Company determined that the conversion feature contained within the WML Convertible Bonds is not indexed to WML's equity and, as such, is required to be bifurcated from the debt host contract and accounted for as a free-standing derivative. In accordance with applicable accounting standards, the WML Convertible Bond Conversion Option Derivative will be reported at fair value as of the end of each reporting period, with changes recognized in the statements of operations. The Company used a binomial lattice model in order to estimate the fair value of the embedded derivative in the WML Convertible Bonds. Inherent in a binomial options pricing model are unobservable (Level 3) inputs and assumptions related to expected share-price volatility, risk-free interest rate, expected term, and dividend yield. The Company estimates the volatility of shares of WML common stock based on historical volatility that matches the expected remaining term to maturity of the WML Convertible Bonds. The risk-free interest rate is based on the Hong Kong and United States benchmark yield curves on the valuation date for a maturity similar to the expected remaining term of the WML Convertible Bonds. The expected life of the WML Convertible Bonds is assumed to be equivalent to their remaining term to maturity. Dividend yield is assumed to be zero due to a dividend protection feature in the WML Convertible Bond Agreement. The following table sets forth the inputs to the lattice models that were used to value the embedded derivative: December 31, 2024 December 31, 2023 WML stock price HK$ 5.39 HK$ 6.43 Estimated volatility 31.2 % 34.0 % Risk-free interest rate 3.6 % 3.3 % Expected term (years) 4.2 5.2 Dividend yield (1) 0.0 % 0.0 % (1) Dividend yield is assumed to be zero in the lattice model used to value the WML Convertible Bond Conversion Option Derivative, due to a dividend protection feature in the WML Convertible Bond Agreement. In connection with the completion of the offering of the WML Convertible Bonds in March 2023, the Company recognized a debt discount and a corresponding liability for the embedded derivative, based on an estimated fair value of $123.5 million. The debt discount will be amortized to interest expense over the term of the WML Convertible Bonds using the effective interest method. As of December 31, 2024 and 2023, the estimated fair value of the embedded derivative was a liability of $33.0 million and $73.7 million, recorded within Long-term debt

Stockholders' Deficit

Stockholders' Deficit	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Deficit	Stockholders' Deficit Equity Repurchase Program In November 2024, the Company’s Board of Directors authorized the Company to repurchase a total of up to $1.0 billion of the Company’s outstanding shares of common stock, increasing the previously available repurchase authorization by approximately $766.0 million. The equity repurchase program authorizes discretionary repurchases by the Company from time to time through open market purchases, including pursuant to plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, privately negotiated transactions, accelerated share repurchases, or block trades, subject to market conditions, applicable legal requirements and other factors. The repurchase authorization has no expiration date, and the equity repurchase program may be suspended, discontinued or accelerated at any time. During the year ended December 31, 2024, the Company repurchased 4,349,779 shares of its common stock at an average price of $88.75 per share for an aggregate cost of $386.0 million under the equity repurchase program. During the year ended December 31, 2023, the Company repurchased 2,206,573 shares of its common stock at an average price of $88.61 per share for an aggregate cost of $195.5 million under the equity repurchase program. As of December 31, 2024, the Company had $813.0 million in repurchase authority remaining under the program. Dividends The Company paid a cash dividend of $0.25 per share in each of the quarters ended March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024 and recorded an aggregate amount of $111.1 million against accumulated deficit in the year ended December 31, 2024. The Company paid a cash dividend of $0.25 per share in each of the quarters ended June 30, 2023, September 30, 2023 and December 31, 2023 and recorded an aggregate amount of $85.1 million against accumulated deficit in the year ended December 31, 2023. No dividends were paid during the year ended December 31, 2022. On February 13, 2025, the Company declared a cash dividend of $0.25 per share, payable on March 5, 2025 to stockholders of record as of February 24, 2025. Noncontrolling Interests Wynn Macau, Limited WML's ordinary shares of common stock are listed on The Stock Exchange of Hong Kong Limited. As of December 31, 2024, the Company owned approximately 72% of this subsidiary's common stock. The shares of WML were not and will not be registered under the Securities Act and may not be offered or sold in the United States absent a registration under the Securities Act, or an applicable exception from such registration requirements. In June 2024 and September 2024, WML paid a cash dividend of HK$0.075 per share for a total U.S. dollar equivalent of approximately $50.4 million and $50.5 million, respectively. The Company's share of these dividends were $36.0 million and $36.1 million, respectively, and the noncontrolling interest holders' share of this dividend was $14.4 million in each of the quarters ended June 30, 2024 and September 30, 2024. WML Securities Lending Agreement In connection with the WML Convertible Bonds Offering, WM Cayman Holdings I Limited ("WM Cayman I"), a wholly owned subsidiary of the Company and holder of our approximate 72% ownership interest in WML, entered into a stock borrowing and lending agreement with Goldman Sachs International (the "WML Stock Borrower") in March 2023 (the "Securities Lending Agreement"), pursuant to which WM Cayman I has agreed to lend to the WML Stock Borrower up to 459,774,985 of its ordinary share holdings in WML, upon and subject to the terms and conditions in the Securities Lending Agreement. WM Cayman I may, at its sole discretion, terminate any stock loan by giving the WML Stock Borrower no less than five business days' notice. The Securities Lending Agreement terminates on the date on which the WML Convertible Bonds have been redeemed, or converted in full, whichever is the earlier. In March 2023, the WML Stock Borrower borrowed 459,774,985 ordinary shares of WML under the Securities Lending Agreement and in April 2023 returned 280,000,000 of such shares to WM Cayman I. As of the date of this report, the WML Stock Borrower held 179,774,985 WML shares under the Securities Lending Agreement. Retail Joint Venture

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present assets and liabilities carried at fair value (in thousands): Fair Value Measurements Using: December 31, 2024 Quoted Other Unobservable Assets: Cash equivalents $ 787,004 $ — $ 787,004 $ — Restricted cash $ 95,638 $ 6,434 $ 89,204 $ — Interest rate swap $ 7,510 $ — $ 7,510 $ — Liabilities: WML Convertible Bond Conversion Option Derivative (see Note 8) $ 33,007 $ — $ — $ 33,007 Fair Value Measurements Using: December 31, 2023 Quoted Other Unobservable Assets: Cash equivalents $ 1,802,712 $ — $ 1,802,712 $ — Restricted cash $ 90,226 $ 2,170 $ 88,056 $ — Fixed deposits $ 550,000 $ — $ 550,000 $ — Interest rate collar $ 5,769 $ — $ 5,769 $ — Liabilities: WML Convertible Bond Conversion Option Derivative (see Note 8) $ 73,744 $ — $ — $ 73,744

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Benefit Plans	5% Expiration Date of Collective Bargaining Agreements Pension Fund Employer EIN/ 2023 (1) 2022 (1) 2024 2023 2022 Southern Nevada Culinary and Bartenders Pension Plan (2) Wynn Las Vegas, LLC 88-6016617/1 Green Green $ 17,272 $ 15,849 $ 13,462 Yes 11/30/2028 Western Conference of Teamsters Pension Trust Fund Wynn Las Vegas, LLC 91-6145047/ Green Green 285 226 72 No 7/31/2029 UNITE HERE! Workers and Hospitality Employers Variable Defined Benefit Pension Fund (3) Encore Boston Harbor 45-4227067/026 Green Green 3,955 — — No 8/31/2026 New England Teamster Pension Fund (3) Encore Boston Harbor 04-6372430/001 Red (4) Red (4) 516 — — No 8/31/2026 (1) Represents plan status for plan years ending in 2023 and 2022, which are the the most recent years for which plan data is available. (2) Includes union employees under the terms of the collective-bargaining agreements with the Culinary Workers Union, Local 226, and Bartenders Union, Local 165. (3) Contributions by the Company began on January 1, 2024. (4) Plan has implemented a rehabilitation plan for the plan years presented." id="sjs-B4">Benefit Plans Defined Contribution Plans The Company established a retirement savings plan under Section 401(k) of the Internal Revenue Code covering its U.S. non-union employees in July 2000. The plan allows employees to defer, within prescribed limits, a percentage of their income through contributions to this plan. The Company matches 50% of employee contributions, up to 6% of employees' eligible compensation. During the years ended December 31, 2024, 2023 and 2022, the Company recorded matching contribution expenses of $9.6 million, $10.2 million, and $8.7 million, respectively. Wynn Macau SA also operates a defined contribution retirement benefit plan (the "Wynn Macau Plan"). Eligible employees are allowed to contribute 5% of their base salary to the Wynn Macau Plan and the Company matches any contributions. On July 1, 2019, the Company offered the option for the eligible Macau resident employees to join the non-mandatory central provident fund (the "CPF") system. Eligible Macau resident employees joining the Company from July 1, 2019 onwards have the option of enrolling in the CPF system while the Company's existing Macau resident employees who are currently members of the Wynn Macau Plan will be provided with the option of joining the CPF system or staying in the existing Wynn Macau Plan, which will continue to be in effect in parallel. The CPF system allows eligible employees to contribute 5% or more of their base salary to the CPF while the Company matches with a 5% of such salary as employer's contribution to the CPF. The Company's matching contributions vest to the employee at 10% per year with full vesting in ten years. The assets of the Wynn Macau Plan and the CPF are held separately from those of the Company in independently administered funds and overseen by the Macau government. Forfeitures of unvested contributions are used to reduce the Company's liability for its contributions payable. During the years ended December 31, 2024, 2023 and 2022, the Company recorded matching contribution expenses of $17.1 million, $16.3 million, and $17.0 million, respectively. Multi-Employer Pension Plans Risks of participating in a multi-employer plan differ from single-employer plans for the following reasons: (1) assets contributed to a multi-employer plan by one employer may be used to provide benefits to employees of other participating employers; (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; (3) if a participating employer stops participating, it may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability; and (4) if the plan is terminated by withdrawal of all employers and if the value of the nonforfeitable benefits exceeds plan assets and withdrawal liability payments, employers are required by law to make up the insufficient difference. The following table outlines the Company’s participation in multi-employer pension plans. The "EIN/Pension Plan Number" column provides the Employer Identification Number ("EIN") and the three-digit plan number. The most recent Pension Protection Act Zone Status ("Zone Status") is based on information certified by each plan's actuary and represents plan information available in 2024 and 2023, the plans' two most recent fiscal year-ends. Plans certified in the green zone are at least 80% funded and plans certified in the red zone are generally less than 65% funded and require a rehabilitation plan. As of December 31, 2024 and 2023, all plans requiring a rehabilitation plan have had the respective plan implemented. The Company participates in the following multi-employer pension plans (in thousands): Zone Status Contributions by the Company Company Contribution > 5% Expiration Date of Collective Bargaining Agreements Pension Fund Employer EIN/ 2023 (1) 2022 (1) 2024 2023 2022 Southern Nevada Culinary and Bartenders Pension Plan (2) Wynn Las Vegas, LLC 88-6016617/1 Green Green $ 17,272 $ 15,849 $ 13,462 Yes 11/30/2028 Western Conference of Teamsters Pension Trust Fund Wynn Las Vegas, LLC 91-6145047/ Green Green 285 226 72 No 7/31/2029 UNITE HERE! Workers and Hospitality Employers Variable Defined Benefit Pension Fund (3) Encore Boston Harbor 45-4227067/026 Green Green 3,955 — — No 8/31/2026 New England Teamster Pension Fund (3) Encore Boston Harbor 04-6372430/001 Red (4) Red (4) 516 — — No 8/31/2026 (1) Represents plan status for plan years ending in 2023 and 2022, which are the the most recent years for which plan data is available. (2) Includes union employees under the terms of the collective-bargaining agreements with the Culinary Workers Union, Local 226, and Bartenders Union, Local 165. (3) Contributions by the Company began on January 1, 2024. (4) Plan has implemented a rehabilitation plan for the plan years presented.

Customer Contract Liabilities

Customer Contract Liabilities	12 Months Ended
	Dec. 31, 2024
Revenue Recognition [Abstract]
Customer Contract Liabilities	Customer Contract Liabilities In providing goods and services to its customers, there is often a timing difference between the Company receiving cash and the Company recording revenue for providing services or holding events. The Company's primary liabilities associated with customer contracts are as follows (in thousands): December 31, 2024 December 31, 2023 Increase/ (Decrease) December 31, 2023 December 31, 2022 Increase/ (Decrease) Casino outstanding chips and front money deposits (1) $ 409,928 $ 433,269 $ (23,341) $ 433,269 $ 390,531 $ 42,738 Advance room deposits and ticket sales (2) 84,460 89,640 (5,180) 89,640 85,019 4,621 Other gaming-related liabilities (3) 15,458 24,964 (9,506) 24,964 31,265 (6,301) Loyalty program and related liabilities (4) 29,489 31,106 (1,617) 31,106 35,083 (3,977) $ 539,335 $ 578,979 $ (39,644) $ 578,979 $ 541,898 $ 37,081 (1) Casino outstanding chips generally represent amounts owed to gaming promoters and customers for chips in their possession, and casino front money deposits represent funds deposited by customers before gaming play occurs. These amounts are included in customer deposits on the Consolidated Balance Sheets and may be recognized as revenue or redeemed for cash in the future. (2) Advance room deposits and ticket sales represent cash received in advance for goods or services to be provided in the future. These amounts are included in customer deposits on the Consolidated Balance Sheets and will be recognized as revenue when the goods or services are provided or the events are held. Decreases in this balance generally represent the recognition of revenue and increases in the balance represent additional deposits made by customers. The deposits are expected to primarily be recognized as revenue within one year. (3) Other gaming-related liabilities generally represent unpaid wagers primarily in the form of unredeemed slot, race and sportsbook tickets or wagers for future sporting events. The amounts are included in other accrued liabilities on the Consolidated Balance Sheets. (4) Loyalty program and related liabilities represent the deferral of revenue until the loyalty points or other complimentaries are redeemed. The amounts are included in other accrued liabilities on the Consolidated Balance Sheets and are expected to be recognized as revenue within one year of being earned by customers.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has adopted equity plans that allow for grants of stock-based compensation awards. The following sections describe each of these plans. Wynn Resorts, Limited Second Amended and Restated 2014 Omnibus Incentive Plan (the "WRL Omnibus Plan") In January 2017, the Company adopted the WRL Omnibus Plan after approval from its stockholders, which was adopted for a period of 10 years. From time to time, the Company reserves additional shares of its common stock for issuance under the WRL Omnibus Plan. The WRL Omnibus Plan allows for the grant of stock options, restricted stock, restricted stock units, stock appreciation rights, performance awards, and other share-based awards to eligible participants. In May 2024, the Company's shareholders approved an amendment to the WRL Omnibus Plan that increases the shares authorized for issuance by 2,000,000 shares, for an aggregate number of shares authorized for issuance to 7,909,390 shares. As of December 31, 2024, the Company had 3,000,262 shares of its common stock available for grant as share-based awards under the WRL Omnibus Plan. Wynn Macau, Limited Share Option and Share Award Plans The Company's majority-owned subsidiary, WML, has two stock-based compensation plans that provide awards based on shares of WML's common stock. The shares available for issuance under these plans are separate and distinct from the common stock of Wynn Resorts' share plan and are not available for issuance for any awards under the Wynn Resorts share plan. The maximum number of shares which may be issued pursuant to WML's stock-based compensation plans is a combined aggregate of 523,843,160 shares. As of December 31, 2024, there were 512,897,160 shares available for issuance under WML's stock-based compensation plans. WML Share Option Plan ("WML Share Option Plan") WML adopted the WML Share Option Plan in May 2023 to supersede its share option plan adopted in May 2019. The WML share option plan allows for the grant of stock options to purchase shares of WML to eligible directors and employees of WML, its subsidiaries, and related entities, and service providers of WML and its subsidiaries. The WML Share Option Plan is administered by WML's board of directors, which has the discretion on the vesting and service requirements, exercise price, performance targets to exercise if applicable and other conditions, subject to certain limits . The WML S hare O ption P lan was adopted for a period of 10 years commencing from May 25, 2023. WML Employee Share Ownership Scheme (the "WML Share Award Plan") WML adopted the WML Share Award Plan in May 2023 to supersede its employee ownership scheme adopted on June 30, 2014. The Share Award Plan allows for the grant of nonvested shares of WML's common stock to eligible directors and employees of WML, its subsidiaries, and related entities, and service providers of WML and its subsidiaries. The WML Share Award Plan was adopted for a period of 10 years commencing from May 25, 2023. Stock Options The summary of stock option activity for the year ended December 31, 2024 is presented below: Options Weighted Average Exercise Price Weighted Aggregate Intrinsic Value WRL Omnibus Plan Outstanding as of January 1, 2024 23,985 $ 61.48 Granted — $ — Exercised (17,285) $ 58.85 Forfeited or expired — $ — Outstanding as of December 31, 2024 6,700 $ 68.25 0.8 $ 119,997 Fully vested and expected to vest as of December 31, 2024 6,700 $ 68.25 0.8 $ 119,997 Exercisable as of December 31, 2024 6,700 $ 68.25 0.8 $ 119,997 WML Share Option Plan Outstanding as of January 1, 2024 37,220,400 $ 1.52 Granted 4,983,000 $ 0.75 Exercised — $ — Forfeited or expired (644,000) $ 4.00 Outstanding as of December 31, 2024 41,559,400 $ 1.40 6.4 $ 419,076 Fully vested and expected to vest as of December 31, 2024 41,559,400 $ 1.40 6.4 $ 419,076 Exercisable as of December 31, 2024 24,287,400 $ 1.75 5.2 $ 167,630 The following is provided for stock options under the Company's stock-based compensation plans (in thousands, except weighted average grant date fair value): Year Ended December 31, 2024 2023 2022 WRL Omnibus Plan (1) Weighted average grant date fair value $ — $ — $ 18.56 Intrinsic value of stock options exercised $ 832 $ 1,475 $ — Cash received from the exercise of stock options $ 1,017 $ 1,965 $ — WML Share Option Plan (2) Weighted average grant date fair value $ 0.25 $ 0.25 $ 0.26 Intrinsic value of stock options exercised $ — $ — $ — Cash received from the exercise of stock options $ — $ — $ — (1) As of December 31, 2024, there was no unamortized compensation expense related to stock options. (2) As of December 31, 2024, there was $4.3 million of unamortized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 3.26 years. Option Valuation Inputs The fair value of stock options granted under the WRL Omnibus Plan was estimated on the date of grant using the following weighted average assumption: Year Ended December 31, 2024 2023 2022 Expected dividend yield — % — % — % Expected volatility — % — % 56.9 % Risk-free interest rate — % — % 2.7 % Expected term (years) — — 1.8 The fair value of stock options granted under WML's Share Option Plan was estimated on the date of grant using the following weighted average assumptions: Year Ended December 31, 2024 2023 2022 Expected dividend yield 5.4 % 5.7 % 1.3 % Expected volatility 54.2 % 53.8 % 45.7 % Risk-free interest rate 3.1 % 3.6 % 3.2 % Expected term (years) 6.5 6.5 6.5 Nonvested and performance nonvested shares The summary of nonvested and performance nonvested share activity under the Company's stock-based compensation plans for the year ended December 31, 2024 is presented below: Shares Weighted Average Grant Date Fair Value WRL Omnibus Plan Nonvested as of January 1, 2024 977,658 $ 96.63 Granted 597,633 $ 93.12 Vested (526,612) $ 94.62 Forfeited (29,708) $ 102.97 Nonvested as of December 31, 2024 1,018,971 $ 95.52 WML Share Award Plan Nonvested as of January 1, 2024 22,331,806 $ 0.92 Granted 8,931,255 $ 0.90 Vested (5,487,607) $ 1.04 Forfeited (1,253,005) $ 0.95 Nonvested as of December 31, 2024 24,522,449 $ 0.89 Certain members of the executive management team receive grants of nonvested share awards that are subject to service and performance conditions. Generally, these awards vest if certain fair share metrics (as approved by the Company's Compensation Committee of the Board of Directors) are attained over a one two The following is provided for the share awards under the Company's stock-based compensation plans (in thousands, except weighted average grant date fair value): Year Ended December 31, 2024 2023 2022 WRL Omnibus Plan Weighted average grant date fair value $ 93.12 $ 94.13 $ 62.34 Fair value of shares vested $ 49,544 $ 56,689 $ 52,965 WML Share Award Plan Weighted average grant date fair value $ 0.90 $ 1.08 $ 0.62 Fair value of shares vested $ 4,422 $ 3,941 $ 20,547 As of December 31, 2024, there was $54.5 million of unamortized compensation expense related to nonvested shares under the WRL Omnibus Plan, which is expected to be recognized over a weighted average period of 1.88 years. As of December 31, 2024, there was $11.2 million of unamortized compensation expense under the WML Share Award Plan, which is expected to be recognized over a weighted average period of 2.09 years. Performance Share Units ("PSUs") Certain members of the Wynn Resorts executive management team receive grants of PSUs that are subject to service and market conditions. Each PSU represents the right to receive between 0 and 1.6 shares of Wynn Resorts common stock depending on the performance of the common stock over a three-year period. The summary of PSU activity during the year ended December 31, 2024 is provided below: Units Weighted Average Grant Date Fair Value Nonvested as of January 1, 2024 24,910 $ 121.70 Granted 25,885 $ 110.40 Vested — $ — Forfeited — $ — Nonvested as of December 31, 2024 50,795 $ 115.94 The fair value of PSUs granted under the WRL Omnibus Plan was estimated on the date of grant using the following weighted average assumptions: Year Ended December 31, 2024 2023 Expected volatility 45 % 55 % Risk-free interest rate 4.1 % 3.8 % Annual Incentive Bonus Certain members of the Company's management team receive a portion of their annual incentive bonus in shares of the Company's stock. The number of shares is determined based on the closing stock price on the date the annual incentive bonus is settled. As the number of shares is variable, the Company records a liability for the fixed monetary amount over the service period. The Company recorded stock-based compensation expense associated with these awards of $7.8 million, $8.0 million and $6.6 million for each of the years ended December 31, 2024, 2023 and 2022, respectively. The Company settled its obligations for the 2024, 2023, and 2022 annual incentive bonuses by issuing 94,350, 84,130, and 67,320 of vested shares with a weighted-average grant date fair value of $82.45, $95.26, and $98.61, in January of the respective following year. Compensation Cost The total compensation cost for stock-based compensation plans was recorded as follows (in thousands): Year Ended December 31, 2024 2023 2022 Casino $ 3,065 $ 2,163 $ 12,401 Rooms 1,028 800 1,252 Food and beverage 2,197 1,636 2,417 Entertainment, retail and other 1,108 8,230 10,964 General and administrative 51,631 51,686 40,593 Total stock-based compensation expense 59,029 64,515 67,627 Total stock-based compensation capitalized 5,242 5,268 3,246 Total stock-based compensation costs $ 64,271 $ 69,783 $ 70,873

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Consolidated income (loss) before taxes for United States ("U.S.") and foreign operations consisted of the following (in thousands): Year Ended December 31, 2024 2023 2022 United States $ 251,003 $ 142,775 $ 339,513 Foreign 392,395 142,608 (1,039,549) Total $ 643,398 $ 285,383 $ (700,036) The income tax provision (benefit) attributable to income before income taxes is as follows (in thousands): December 31, 2024 2023 2022 Current U.S. Federal $ 894 $ (248) $ 825 U.S. State 9,496 6,337 2,882 Foreign 141 (194) 2,510 Total 10,531 5,895 6,217 Deferred U.S. Federal (4,585) (483,786) 1,450 U.S. State (2,264) (20,310) 1,674 Foreign — 1,367 (9) Total (6,849) (502,729) 3,115 Total income tax provision (benefit) $ 3,682 $ (496,834) $ 9,332 The reconciliation of the U.S. federal statutory tax rate to the actual tax rate is as follows: December 31, 2024 2023 2022 U.S. Federal statutory rate 21.0 % 21.0 % 21.0 % State tax 1.0 % (2.8) % 0.3 % Foreign tax credits, net of valuation allowance (12.2) % (139.8) % 12.5 % Non-taxable foreign income (6.3) % (9.6) % (5.7) % Foreign tax rate differential (3.9) % 0.4 % (17.0) % Valuation allowance, other (6.6) % (43.8) % (3.1) % Other, net 7.6 % 0.5 % (9.3) % Effective income tax rate 0.6 % (174.1) % (1.3) % In 2024, Wynn Macau SA received an exemption from Macau's 12% Complementary Tax on casino gaming profits from January 1, 2023 through December 31, 2027. For the year ended December 31, 2023, the Company was exempt from the payment of Macau Complementary Tax totaling $77.4 million or $0.69 per diluted share. For the year ended December 31, 2024, the Company was exempt from the payment of Macau Complementary Tax totaling $107.3 million or $0.97 per diluted share. The Company's non-gaming profits remain subject to the Macau Complementary Tax and its casino winnings remain subject to the Macau special gaming tax and other levies in accordance with its concession agreement. The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (in thousands): December 31, 2024 2023 Deferred tax assets—U.S.: Foreign tax credit carryforwards $ 533,473 $ 1,244,149 Disallowed interest expense carryforward 157,586 156,224 Net operating loss carryforward 169,598 160,778 Lease liability 370,110 371,032 Property and equipment 72,286 50,903 Receivables, inventories, accrued liabilities and other 21,491 21,854 Stock-based compensation 9,020 9,984 Other tax credit carryforwards 21,562 19,813 Intangibles and related other 36,371 41,914 Other 1,858 — 1,393,355 2,076,651 Less: valuation allowance (479,854) (1,172,982) 913,501 903,669 Deferred tax liabilities—U.S.: Leased asset (370,110) (371,032) Prepaid insurance, maintenance and taxes (15,447) (16,186) Other (20,228) (15,584) (405,785) (402,802) Deferred tax assets—Foreign: Net operating loss carryforwards 32,114 78,842 Property and equipment 91,884 87,849 Other 2,952 3,275 126,950 169,966 Less: valuation allowance (124,791) (167,599) 2,159 2,367 Deferred tax liabilities—Foreign: Property and equipment (2,159) (2,357) (2,159) (2,357) Net deferred tax asset $ 507,716 $ 500,877 As of December 31, 2024, the Company had foreign tax credit ("FTC") carryforwards (net of uncertain tax positions) of $533.5 million. Of this amount, $47.2 million will expire in 2025, and $486.3 million will expire in 2027. The Company has a disallowed interest carryforward of $688.3 million which does not expire. As of December 31, 2024, the Company had U.S. federal and state tax loss carryforwards of $658.9 million. As of December 31, 2023, the Company had U.S. federal and state tax loss carryforwards of $624.6 million. U.S. federal tax loss carryforwards do not expire. State net operating losses generally carry forward 20 years and will begin to expire in 2040. The Company has foreign tax losses available of $38.2 million, $55.1 million and $154.6 million related to losses incurred in the tax years ended December 31, 2024, 2023 and 2022, respectively. The majority of foreign tax loss carryforwards expire in 2027, 2026, and 2025, respectively. The Company records valuation allowances on certain of its U.S. and foreign deferred tax assets. In assessing the need for a valuation allowance, the Company considers whether it is more likely than not that the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. In the assessment of the valuation allowance, appropriate consideration is given to all positive and negative evidence including recent operating profitability, forecast of future earnings, ability to carry back, the reversal of net taxable temporary differences, the duration of statutory carryforward periods and tax planning strategies. The need for valuation allowances against deferred tax assets will be assessed on a continuous basis and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. In 2024, the Company recorded a $735.9 million net decrease to valuation allowances, including a $693.3 million decrease to valuation allowance on FTC carryforwards. Of the $693.3 million net decrease, $614.9 million relates to expirations of FTCs in 2024 and the remaining $78.4 million represents FTCs more likely than not to be realized based on changes in future taxable income and tax planning strategies. In 2023, the Company considered both the achievement of sustained profitability and cumulative income as well as forecasted income and tax planning strategies to be significant forms of positive evidence. The Company determined that the positive evidence outweighed the negative evidence and supported a release of a portion of the valuation allowance. Therefore, the Company recorded a $1.10 billion net decrease to valuation allowances, including a $971.7 million decrease to valuation allowance on FTC carryforwards. Of the $971.7 million decrease, $97.5 million related to utilization and $572.6 million related to expirations of FTCs in 2023. The remaining $301.6 million represented FTCs more likely than not to be realized based on future taxable income and tax planning strategies. The Company also recorded a $158.0 million decrease in valuation allowance on disallowed interest expense carryforward. As of December 31, 2024 and 2023, the Company had valuation allowances provided on its deferred tax assets as follows (in thousands): December 31, 2024 2023 Foreign tax credits $ 247,973 $ 941,249 Intangible assets 36,850 46,084 U.S. loss carryforwards 169,598 160,778 Other U.S. deferred tax assets 25,432 24,872 Foreign loss carryforwards 32,674 80,569 Other foreign deferred tax assets 92,118 87,029 Total $ 604,645 $ 1,340,581 The Company had the following activity for unrecognized tax benefits as follows (in thousands): December 31, 2024 2023 2022 Balance at beginning of period $ 135,671 $ 135,979 $ 141,515 Increases based on tax positions of the current year 11,635 15,818 12,068 Reductions based on tax positions of prior years — — (2,637) Reductions due to lapse in statutes of limitations (16,288) (16,126) (14,967) Balance at end of period $ 131,018 $ 135,671 $ 135,979 As of December 31, 2024, 2023 and 2022, unrecognized tax benefits of $130.9 million, $135.7 million and $135.9 million, respectively, were recorded as reductions in deferred income taxes, net. The Company had $0.1 million of unrecognized tax benefits recorded in other long-term liabilities as of December 31, 2024. The Company had no unrecognized tax benefits recorded in other long-term liabilities as of December 31, 2023 and 2022. As of December 31, 2024, 2023 and 2022, $65.8 million, $69.0 million and $69.0 million, respectively, of unrecognized tax benefits would, if recognized, impact the effective tax rate. The Company recognizes penalties and interest related to unrecognized tax benefits in the provision for income taxes. During each of the years ended December 31, 2024, 2023 and 2022, the Company recognized no interest and penalties. The Company anticipates that the 2020 statute of limitations will expire in the next 12 months for certain foreign tax jurisdictions. Also, the Company's unrecognized tax benefits include certain income tax accounting methods, which govern the timing and deductibility of income tax deductions. As a result, the Company's unrecognized tax benefits could increase up to $2.6 million over the next 12 months. The Company files income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. The Company's income tax returns are subject to examination by the IRS and other tax authorities in the locations where it operates. The Company's 2002 to 2020 domestic income tax returns remain subject to examination by the IRS to the extent tax attributes carryforward to future years. The Company's 2021 to 2023 domestic income tax returns also remain subject to examination by the IRS. The Company's 2020 to 2023 Macau income tax returns remain subject to examination by the Financial Services Bureau. The Company has participated in the IRS Compliance Assurance Program ("CAP") for the 2012 through 2024 tax years and will continue to participate in the IRS CAP for the 2025 tax year. In January 2025, the Financial Services Bureau commenced an examination of the 2021 Macau income tax return of Wynn Macau SA. On December 31, 2024, 2023 and 2022, the statute of limitations for the 2019, 2018, and 2017 Macau Complementary tax return expired, respectively. As a result of the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $16.3 million, $16.1 million, and $15.0 million, respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share ("EPS") is computed by dividing net income (loss) attributable to Wynn Resorts by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income (loss) attributable to Wynn Resorts, adjusted for the potential dilutive impact assuming that the conversion of the WML Convertible Bonds occurred as of the date of their issuance under the if-converted method, by the weighted average number of common shares outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potential dilutive securities had been issued, to the extent such impact is not anti-dilutive. Potentially dilutive securities include share-based awards outstanding under the WRL Omnibus Plan. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS consisted of the following (in thousands, except per share amounts): Year Ended December 31, 2024 2023 2022 Numerator: Net income (loss) attributable to Wynn Resorts, Limited - basic $ 501,078 $ 729,994 $ (423,856) Effect of dilutive securities of Wynn Resorts, Limited subsidiaries: Assumed conversion of WML Convertible Bonds (21,005) (16,495) — Net income (loss) attributable to Wynn Resorts, Limited - diluted $ 480,073 $ 713,499 $ (423,856) Denominator: Weighted average common shares outstanding 109,966 112,523 113,623 Potential dilutive effect of stock options, nonvested, and performance nonvested shares 301 332 — Weighted average common and common equivalent shares outstanding 110,267 112,855 113,623 Net income (loss) attributable to Wynn Resorts, Limited per common share, basic $ 4.56 $ 6.49 $ (3.73) Net income (loss) attributable to Wynn Resorts, Limited per common share, diluted $ 4.35 $ 6.32 $ (3.73) Anti-dilutive stock options, nonvested, and performance nonvested shares excluded from the calculation of diluted net income per share 310 238 895

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases Lessee Arrangements The following table summarizes the balance sheet classification of the Company's lease assets and liabilities (in thousands): December 31, Balance Sheet Classification 2024 2023 Assets Operating leases Operating lease assets $ 1,797,276 $ 1,832,896 Finance leases Property and equipment, net $ 94,656 $ 43,078 Current liabilities Operating leases Other accrued liabilities $ 10,869 $ 9,295 Finance leases Other accrued liabilities $ 18,367 $ 13,412 Non-current liabilities Operating leases Long-term operating lease liabilities $ 1,623,890 $ 1,631,749 Finance leases Other long-term liabilities $ 71,592 $ 24,028 The following tables disclose the components of the Company's lease cost, supplemental cash flow disclosures, and other information regarding the Company's lease arrangements (in thousands): Year Ended December 31, 2024 2023 2022 Lease cost: Operating lease cost $ 17,146 $ 17,173 $ 18,321 Triple-net operating lease cost related to Encore Boston Harbor 141,576 141,722 11,773 Short-term lease cost 30,443 27,468 21,060 Amortization of leasehold interests in land 13,704 13,666 13,728 Variable lease cost 2,493 1,868 1,081 Finance lease interest cost 3,391 2,363 2,131 Total lease cost $ 208,753 $ 204,260 $ 68,094 Year Ended December 31, 2024 2023 2022 Supplemental cash flow disclosures: Operating lease liabilities arising from obtaining operating lease assets $ 3,803 $ 26,657 $ 1,519,628 Finance lease liabilities arising from obtaining finance lease assets $ 80,021 $ 8,842 $ 5,906 Cash paid for amounts included in the measurement of lease liabilities: Cash used in operating activities - Operating leases $ 141,004 $ 139,054 $ 26,094 Cash used in financing activities - Finance leases $ 19,219 $ 19,267 $ 18,188 Year Ended December 31, 2024 2023 2022 Other information: Weighted-average remaining lease term - Operating leases 29.1 years 30.1 years 31.1 years Weighted-average remaining lease term - Finance leases 10.5 years 19.7 years 16.0 years Weighted-average discount rate - Operating leases 8.0 % 8.0 % 8.0 % Weighted-average discount rate - Finance leases 6.3 % 5.8 % 5.0 % The following table presents an analysis of lease liability maturities as of December 31, 2024 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 141,522 $ 23,412 2026 142,422 23,080 2027 144,767 22,175 2028 145,727 17,377 2029 147,932 989 Thereafter 3,680,177 60,806 Total undiscounted cash flows $ 4,402,547 $ 147,839 Present value Short-term lease liabilities $ 10,869 $ 18,367 Long-term lease liabilities 1,623,890 71,592 Total lease liabilities $ 1,634,759 $ 89,959 Interest on lease liabilities $ 2,767,788 $ 57,880 Encore Boston Harbor Lease The Company leases the real estate assets of Encore Boston Harbor pursuant to a triple-net operating lease agreement with an initial term of 30 years from December 2022 to November 2052, which may be renewed for one additional thirty-year term. The lease has an initial base rent of $100 million per year, which increases at a fixed rate of 1.75% per year for the first ten years and the greater of 1.75% or change in consumer price index, subject to a cap of 2.5%, each year for the remaining term of the lease. In addition, certain fixed payments in lieu of taxes ("PILOT") made on behalf of the lessor are included in lease payments for the purpose of measuring the associated operating lease assets and liabilities. The lease payments, inclusive of PILOT payments, are $126.4 million in 2025, $128.8 million in 2026, $131.3 million in 2027, $133.7 million in 2028, $136.3 million in 2029, and $3.29 billion thereafter. At December 31, 2024 and 2023, the total liability associated with the lease was $1.51 billion. Ground Leases Undeveloped Land - Las Vegas The Company leases approximately 16 acres of undeveloped land on Las Vegas Boulevard directly across from Wynn Las Vegas in Las Vegas, Nevada, pursuant to a lease agreement which expires in 2097. The ground lease payments, which increase at a fixed rate over the term of the lease, are $4.0 million per year from 2025 to 2029 and total payments of $343.8 million thereafter. As of December 31, 2024 and 2023, the liability associated with this lease was $65.2 million and $64.8 million, respectively. At December 31, 2024 and 2023, operating lease assets included approximately $81.3 million and $82.5 million, respectively, related to an amount allocated to the leasehold interest in land upon the acquisition of a group of assets in 2018. The Company expects that the amortization of this amount will be $1.1 million each year from 2025 through 2096 and $0.7 million in 2097. Macau Land Concessions Wynn Palace and Wynn Macau were built on land that is leased under Macau land concession contracts each with terms of 25 years from May 2012 and August 2004, respectively, which may be renewed with government approval for successive 10-year periods in accordance with Macau legislation. The land concession payments are expected to be $1.5 million per year through 2028, $1.3 million in 2029, and total payments of $7.2 million thereafter through 2037. At December 31, 2024 and 2023, the total liability associated with these leases was $9.8 million and $10.4 million, respectively. At December 31, 2024 and 2023, operating lease assets included $129.5 million and $141.2 million of leasehold interests in land related to the Wynn Palace and Wynn Macau land concessions. The Company expects that the amortization associated with these leasehold interests will be approximately $12.6 million per year from 2025 through 2028, approximately $11.3 million in 2029, approximately $9.2 million per year from 2030 through 2036 and approximately $3.1 million in 2037. Lessor Arrangements The following table presents the minimum and contingent operating lease income for the periods presented (in thousands): Year Ended December 31, 2024 2023 2022 Minimum rental income $ 138,604 $ 131,901 $ 126,226 Contingent rental income 66,526 96,831 62,586 Total rental income $ 205,130 $ 228,732 $ 188,812 The following table presents the future minimum rentals to be received under operating leases (in thousands): Year Ending December 31, Operating Leases 2025 $ 135,387 2026 104,509 2027 86,405 2028 59,360 2029 33,977 Thereafter 93,451 Total future minimum rentals $ 513,089
Leases	Leases Lessee Arrangements The following table summarizes the balance sheet classification of the Company's lease assets and liabilities (in thousands): December 31, Balance Sheet Classification 2024 2023 Assets Operating leases Operating lease assets $ 1,797,276 $ 1,832,896 Finance leases Property and equipment, net $ 94,656 $ 43,078 Current liabilities Operating leases Other accrued liabilities $ 10,869 $ 9,295 Finance leases Other accrued liabilities $ 18,367 $ 13,412 Non-current liabilities Operating leases Long-term operating lease liabilities $ 1,623,890 $ 1,631,749 Finance leases Other long-term liabilities $ 71,592 $ 24,028 The following tables disclose the components of the Company's lease cost, supplemental cash flow disclosures, and other information regarding the Company's lease arrangements (in thousands): Year Ended December 31, 2024 2023 2022 Lease cost: Operating lease cost $ 17,146 $ 17,173 $ 18,321 Triple-net operating lease cost related to Encore Boston Harbor 141,576 141,722 11,773 Short-term lease cost 30,443 27,468 21,060 Amortization of leasehold interests in land 13,704 13,666 13,728 Variable lease cost 2,493 1,868 1,081 Finance lease interest cost 3,391 2,363 2,131 Total lease cost $ 208,753 $ 204,260 $ 68,094 Year Ended December 31, 2024 2023 2022 Supplemental cash flow disclosures: Operating lease liabilities arising from obtaining operating lease assets $ 3,803 $ 26,657 $ 1,519,628 Finance lease liabilities arising from obtaining finance lease assets $ 80,021 $ 8,842 $ 5,906 Cash paid for amounts included in the measurement of lease liabilities: Cash used in operating activities - Operating leases $ 141,004 $ 139,054 $ 26,094 Cash used in financing activities - Finance leases $ 19,219 $ 19,267 $ 18,188 Year Ended December 31, 2024 2023 2022 Other information: Weighted-average remaining lease term - Operating leases 29.1 years 30.1 years 31.1 years Weighted-average remaining lease term - Finance leases 10.5 years 19.7 years 16.0 years Weighted-average discount rate - Operating leases 8.0 % 8.0 % 8.0 % Weighted-average discount rate - Finance leases 6.3 % 5.8 % 5.0 % The following table presents an analysis of lease liability maturities as of December 31, 2024 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 141,522 $ 23,412 2026 142,422 23,080 2027 144,767 22,175 2028 145,727 17,377 2029 147,932 989 Thereafter 3,680,177 60,806 Total undiscounted cash flows $ 4,402,547 $ 147,839 Present value Short-term lease liabilities $ 10,869 $ 18,367 Long-term lease liabilities 1,623,890 71,592 Total lease liabilities $ 1,634,759 $ 89,959 Interest on lease liabilities $ 2,767,788 $ 57,880 Encore Boston Harbor Lease The Company leases the real estate assets of Encore Boston Harbor pursuant to a triple-net operating lease agreement with an initial term of 30 years from December 2022 to November 2052, which may be renewed for one additional thirty-year term. The lease has an initial base rent of $100 million per year, which increases at a fixed rate of 1.75% per year for the first ten years and the greater of 1.75% or change in consumer price index, subject to a cap of 2.5%, each year for the remaining term of the lease. In addition, certain fixed payments in lieu of taxes ("PILOT") made on behalf of the lessor are included in lease payments for the purpose of measuring the associated operating lease assets and liabilities. The lease payments, inclusive of PILOT payments, are $126.4 million in 2025, $128.8 million in 2026, $131.3 million in 2027, $133.7 million in 2028, $136.3 million in 2029, and $3.29 billion thereafter. At December 31, 2024 and 2023, the total liability associated with the lease was $1.51 billion. Ground Leases Undeveloped Land - Las Vegas The Company leases approximately 16 acres of undeveloped land on Las Vegas Boulevard directly across from Wynn Las Vegas in Las Vegas, Nevada, pursuant to a lease agreement which expires in 2097. The ground lease payments, which increase at a fixed rate over the term of the lease, are $4.0 million per year from 2025 to 2029 and total payments of $343.8 million thereafter. As of December 31, 2024 and 2023, the liability associated with this lease was $65.2 million and $64.8 million, respectively. At December 31, 2024 and 2023, operating lease assets included approximately $81.3 million and $82.5 million, respectively, related to an amount allocated to the leasehold interest in land upon the acquisition of a group of assets in 2018. The Company expects that the amortization of this amount will be $1.1 million each year from 2025 through 2096 and $0.7 million in 2097. Macau Land Concessions Wynn Palace and Wynn Macau were built on land that is leased under Macau land concession contracts each with terms of 25 years from May 2012 and August 2004, respectively, which may be renewed with government approval for successive 10-year periods in accordance with Macau legislation. The land concession payments are expected to be $1.5 million per year through 2028, $1.3 million in 2029, and total payments of $7.2 million thereafter through 2037. At December 31, 2024 and 2023, the total liability associated with these leases was $9.8 million and $10.4 million, respectively. At December 31, 2024 and 2023, operating lease assets included $129.5 million and $141.2 million of leasehold interests in land related to the Wynn Palace and Wynn Macau land concessions. The Company expects that the amortization associated with these leasehold interests will be approximately $12.6 million per year from 2025 through 2028, approximately $11.3 million in 2029, approximately $9.2 million per year from 2030 through 2036 and approximately $3.1 million in 2037. Lessor Arrangements The following table presents the minimum and contingent operating lease income for the periods presented (in thousands): Year Ended December 31, 2024 2023 2022 Minimum rental income $ 138,604 $ 131,901 $ 126,226 Contingent rental income 66,526 96,831 62,586 Total rental income $ 205,130 $ 228,732 $ 188,812 The following table presents the future minimum rentals to be received under operating leases (in thousands): Year Ending December 31, Operating Leases 2025 $ 135,387 2026 104,509 2027 86,405 2028 59,360 2029 33,977 Thereafter 93,451 Total future minimum rentals $ 513,089
Leases	Leases Lessee Arrangements The following table summarizes the balance sheet classification of the Company's lease assets and liabilities (in thousands): December 31, Balance Sheet Classification 2024 2023 Assets Operating leases Operating lease assets $ 1,797,276 $ 1,832,896 Finance leases Property and equipment, net $ 94,656 $ 43,078 Current liabilities Operating leases Other accrued liabilities $ 10,869 $ 9,295 Finance leases Other accrued liabilities $ 18,367 $ 13,412 Non-current liabilities Operating leases Long-term operating lease liabilities $ 1,623,890 $ 1,631,749 Finance leases Other long-term liabilities $ 71,592 $ 24,028 The following tables disclose the components of the Company's lease cost, supplemental cash flow disclosures, and other information regarding the Company's lease arrangements (in thousands): Year Ended December 31, 2024 2023 2022 Lease cost: Operating lease cost $ 17,146 $ 17,173 $ 18,321 Triple-net operating lease cost related to Encore Boston Harbor 141,576 141,722 11,773 Short-term lease cost 30,443 27,468 21,060 Amortization of leasehold interests in land 13,704 13,666 13,728 Variable lease cost 2,493 1,868 1,081 Finance lease interest cost 3,391 2,363 2,131 Total lease cost $ 208,753 $ 204,260 $ 68,094 Year Ended December 31, 2024 2023 2022 Supplemental cash flow disclosures: Operating lease liabilities arising from obtaining operating lease assets $ 3,803 $ 26,657 $ 1,519,628 Finance lease liabilities arising from obtaining finance lease assets $ 80,021 $ 8,842 $ 5,906 Cash paid for amounts included in the measurement of lease liabilities: Cash used in operating activities - Operating leases $ 141,004 $ 139,054 $ 26,094 Cash used in financing activities - Finance leases $ 19,219 $ 19,267 $ 18,188 Year Ended December 31, 2024 2023 2022 Other information: Weighted-average remaining lease term - Operating leases 29.1 years 30.1 years 31.1 years Weighted-average remaining lease term - Finance leases 10.5 years 19.7 years 16.0 years Weighted-average discount rate - Operating leases 8.0 % 8.0 % 8.0 % Weighted-average discount rate - Finance leases 6.3 % 5.8 % 5.0 % The following table presents an analysis of lease liability maturities as of December 31, 2024 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 141,522 $ 23,412 2026 142,422 23,080 2027 144,767 22,175 2028 145,727 17,377 2029 147,932 989 Thereafter 3,680,177 60,806 Total undiscounted cash flows $ 4,402,547 $ 147,839 Present value Short-term lease liabilities $ 10,869 $ 18,367 Long-term lease liabilities 1,623,890 71,592 Total lease liabilities $ 1,634,759 $ 89,959 Interest on lease liabilities $ 2,767,788 $ 57,880 Encore Boston Harbor Lease The Company leases the real estate assets of Encore Boston Harbor pursuant to a triple-net operating lease agreement with an initial term of 30 years from December 2022 to November 2052, which may be renewed for one additional thirty-year term. The lease has an initial base rent of $100 million per year, which increases at a fixed rate of 1.75% per year for the first ten years and the greater of 1.75% or change in consumer price index, subject to a cap of 2.5%, each year for the remaining term of the lease. In addition, certain fixed payments in lieu of taxes ("PILOT") made on behalf of the lessor are included in lease payments for the purpose of measuring the associated operating lease assets and liabilities. The lease payments, inclusive of PILOT payments, are $126.4 million in 2025, $128.8 million in 2026, $131.3 million in 2027, $133.7 million in 2028, $136.3 million in 2029, and $3.29 billion thereafter. At December 31, 2024 and 2023, the total liability associated with the lease was $1.51 billion. Ground Leases Undeveloped Land - Las Vegas The Company leases approximately 16 acres of undeveloped land on Las Vegas Boulevard directly across from Wynn Las Vegas in Las Vegas, Nevada, pursuant to a lease agreement which expires in 2097. The ground lease payments, which increase at a fixed rate over the term of the lease, are $4.0 million per year from 2025 to 2029 and total payments of $343.8 million thereafter. As of December 31, 2024 and 2023, the liability associated with this lease was $65.2 million and $64.8 million, respectively. At December 31, 2024 and 2023, operating lease assets included approximately $81.3 million and $82.5 million, respectively, related to an amount allocated to the leasehold interest in land upon the acquisition of a group of assets in 2018. The Company expects that the amortization of this amount will be $1.1 million each year from 2025 through 2096 and $0.7 million in 2097. Macau Land Concessions Wynn Palace and Wynn Macau were built on land that is leased under Macau land concession contracts each with terms of 25 years from May 2012 and August 2004, respectively, which may be renewed with government approval for successive 10-year periods in accordance with Macau legislation. The land concession payments are expected to be $1.5 million per year through 2028, $1.3 million in 2029, and total payments of $7.2 million thereafter through 2037. At December 31, 2024 and 2023, the total liability associated with these leases was $9.8 million and $10.4 million, respectively. At December 31, 2024 and 2023, operating lease assets included $129.5 million and $141.2 million of leasehold interests in land related to the Wynn Palace and Wynn Macau land concessions. The Company expects that the amortization associated with these leasehold interests will be approximately $12.6 million per year from 2025 through 2028, approximately $11.3 million in 2029, approximately $9.2 million per year from 2030 through 2036 and approximately $3.1 million in 2037. Lessor Arrangements The following table presents the minimum and contingent operating lease income for the periods presented (in thousands): Year Ended December 31, 2024 2023 2022 Minimum rental income $ 138,604 $ 131,901 $ 126,226 Contingent rental income 66,526 96,831 62,586 Total rental income $ 205,130 $ 228,732 $ 188,812 The following table presents the future minimum rentals to be received under operating leases (in thousands): Year Ending December 31, Operating Leases 2025 $ 135,387 2026 104,509 2027 86,405 2028 59,360 2029 33,977 Thereafter 93,451 Total future minimum rentals $ 513,089

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Wynn Al Marjan Island Agreements In 2022, the Company, its co-investors in Wynn Al Marjan Island, and Island 3 entered into agreements whereby the Company has agreed to perform certain design and development services with respect to Wynn Al Marjan Island as well as certain related preopening services, in exchange for the reimbursement of its costs incurred in performing such services. The Company has additionally agreed to perform management services at Wynn Al Marjan Island upon its opening, expected to be in 2027. The Company billed Island 3 $49.5 million and $28.3 million for reimbursable costs during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, the Company was owed $6.9 million and $8.7 million, respectively, by Island 3, for reimbursable costs recorded in "Prepaid expenses and other" in the accompanying consolidated balance sheets. In February 2025, a wholly-owned subsidiary of Island 3 entered into a financing arrangement to fund the construction of Wynn Al Marjan Island, in connection with which the Company and the government of Ras Al Khaimah entered into a completion guarantee agreement, as described in Note 18, "Commitments and Contingencies. Cooperation Agreement On August 3, 2018, the Company entered into a Cooperation Agreement (the "Cooperation Agreement") with Elaine P. Wynn regarding the composition of the Company's Board of Directors and certain other matters, including, among other things, the appointment of Mr. Philip G. Satre to the Company's Board of Directors, standstill restrictions, releases, non-disparagement, reimbursement of expenses and the grant of certain complimentary privileges. The term of the Cooperation Agreement expires on the date that Mr. Satre no longer serves as Chair of the Board, unless earlier terminated pursuant to the circumstances described in the Cooperation Agreement. Amounts Due to Officers, Directors and Former Directors The Company periodically provides services to certain executive officers, directors or former directors of the Company, including the personal use of employees, construction work and other personal services, for which the officers, directors or former directors reimburse the Company. The Company requires prepayment for any such services, which amounts are replenished on an ongoing basis as needed. As of December 31, 2024 and 2023, these net deposit balances with the Company were immaterial, as were the services provided.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Macau Gaming Concession In addition to the fixed and variable gaming premium and property transfer agreement payment obligations as described in Note 5, "Property and Equipment, net" and Note 6, "Goodwill and Intangible Assets, net," Wynn Macau SA committed to make certain non-gaming and gaming investments in the amount of MOP21.03 billion (approximately $2.63 billion) over the course of the ten-year term of the Gaming Concession Contract. MOP19.80 billion (approximately $2.48 billion) of the committed investment will be used for non-gaming capital projects and event programming in connection with, among others, attraction of foreign tourists, conventions and exhibitions, entertainment performances, sports events, culture and art, health and wellness, themed amusement, gastronomy, community tourism and maritime tourism. Additionally, Wynn Macau SA committed to make the following payments throughout the term of the Gaming Concession Contract: (i) Special gaming premium - The Company is obligated to pay a special annual gaming premium if the average of the gross gaming revenues of the Company's gaming tables and gaming machines is lower than a certain minimum amount determined by the Macau government. A minimum average annual gross gaming revenue of MOP7.0 million (approximately $0.9 million) per gaming table and MOP300,000 (approximately $38 thousand) per gaming machine has been set by Macau government. If Wynn Macau SA fails to reach such minimum gross gaming revenue, Wynn Macau SA will be required to pay a special premium equal to the difference between the special gaming tax calculated based on the actual gross gaming revenue and that of such minimum gross gaming revenue. No special gaming premium was paid for the year ended December 31, 2024 and 2023. (ii) Special levies, totaling 5% of gross gaming revenues. The Macau government may reduce the special levies payable by Wynn Macau SA (1) based on Wynn Macau SA’s contribution to the attraction of tourists who enter Macau for tourism and business purposes and hold travel documents issued by countries or regions other than the People’s Republic of China; (2) if Wynn Macau SA’s operations are adversely affected by abnormal, unpredictable or force majeure circumstances associated with the prevailing economic conditions of Macau; or (3) factors as determined by the Chief Executive of Macau; (iii) Special gaming tax assessed at the rate of 35% of gross gaming revenue. Wynn Al Marjan Island Funding Commitment In 2022, the Company, its co-investors in Wynn Al Marjan Island, and Island 3 entered into agreements whereby the Company is required to contribute capital to Island 3 to fund 40% of the project design and development costs in exchange for a pro-rata share of equity in Island 3. During the year ended December 31, 2024, the Company contributed $541.7 million of cash into Island 3, bringing our life-to-date cash contributions to $631.7 million. The cash contributed during the year was used primarily to fund our pro rata portion of the purchase of approximately 155 acres of land underlying the Wynn Al Marjan Island development site, including the remaining 70 acres of land on Island 3 for potential future development (the "Marjan Land Bank"). The remaining 40% pro-rata share of the required equity for the construction of Wynn Al Marjan Island is estimated to be between $700 million and $775 million inclusive of capitalized interest, fees, and certain improvements on the Island. Wynn Al Marjan Island is currently expected to open in 2027. In February 2025, Wynn Al Marjan Island FZ-LLC (the "Borrower"), a wholly-owned subsidiary of Island 3, an unconsolidated affiliate, entered into a facility agreement with a syndicate of lenders (the "Al Marjan Facility Agreement") which provides the Borrower with approximately $2.4 billion (or equivalent in local currency) delayed draw secured term loan facility to finance the development of Wynn Al Marjan Island (the "Al Marjan Facility"). The Company is not a party to the Al Marjan Facility Agreement, but as a condition precedent to the Al Marjan Facility being made available to the Borrower, the Company and the government of Ras Al Khaimah, acting through the Investment and Development Office of Ras Al Khaimah (collectively the "Al Marjan Guarantors"), entered into a guarantee (the "Completion Guarantee") in favor of First Abu Dhabi Bank PJSC, as security agent for itself and the other secured parties (collectively, the "Secured Parties") under the Al Marjan Facility Agreement (the "Security Agent"). Under the terms of the Completion Guarantee, the Al Marjan Guarantors, irrevocably and unconditionally jointly and severally, (a) have guaranteed to each Secured Party punctual performance by the Borrower of certain of its obligations under the Al Marjan Facility Agreement, and (b) have undertaken with each Secured Party: (i) to provide, within 10 business days upon receiving written demand by the Security Agent, (A) sufficient funds to ensure that practical completion of the project (as provided in the Al Marjan Facility Agreement) takes place no later than June 30, 2028 and (B) to fund amounts equal to any project cost overruns, to the extent the Borrower fails to fund such overruns; and (ii) to pay, whenever the Borrower does not pay, interest, commitment fees and other finance costs payable under the Al Marjan Facility Agreement as well as scheduled payments under any interest rate hedging agreement. In addition, upon the occurrence of certain specified events of default, change of control events or credit rating downgrades under the Al Marjan Facility Agreement or the occurrence of certain commercial gaming license related events (including, among others, the loss of the commercial gaming license permitting the Borrower to conduct commercial gaming at the project and as further provided in the Al Marjan Facility Agreement), the Al Marjan Guarantors, irrevocably and unconditionally jointly and severally, have undertaken to pay, to the extent the Borrower does not pay, all then outstanding principal, interest, hedging liabilities and any and all other amounts and expenses then due and payable under the Al Marjan Facility Agreement and related agreements, within 10 business days upon receiving written demand by the Security Agent (or, in respect of the occurrence of certain commercial gaming license related events, if later, on the date falling 180 days following the occurrence of such event). The guarantees and undertakings provided by the Al Marjan Guarantors under the Completion Guarantee terminate on the earlier of: (1) the date on which all secured liabilities under the Al Marjan Facility Agreement have been paid in full, and (2) the date of practical completion of the project. Employment Agreements The Company has entered into employment agreements with several executive officers, other members of management and certain key employees. These agreements generally have three Other Commitments The Company has additional commitments for open purchase orders, construction contracts, payment obligations to communities surrounding Encore Boston Harbor, and performance and other miscellaneous contracts. As of December 31, 2024, the Company was obligated under these arrangements to make future minimum payments as follows (in thousands): Year Ending December 31, 2025 $ 328,603 2026 65,906 2027 42,341 2028 34,726 2029 29,764 Thereafter 78,873 Total minimum payments $ 580,213 Letters of Credit As of December 31, 2024, the Company had outstanding letters of credit of $14.7 million. Litigation In addition to the actions noted below, the Company and its affiliates are involved in litigation arising in the normal course of business. In the opinion of management, such litigation is not expected to have a material effect on the Company's financial condition, results of operations, and cash flows. Securities Class Action On February 20, 2018, a putative securities class action was filed against the Company and certain current and former officers of the Company in the United States District Court, Southern District of New York (which was subsequently transferred to the United States District Court, District of Nevada) by John V. Ferris and Joann M. Ferris on behalf of all persons who purchased the Company's common stock between February 28, 2014 and January 25, 2018. The complaint alleged, among other things, certain violations of federal securities laws and sought to recover unspecified damages as well as attorneys' fees, costs and related expenses for the plaintiffs. On July 28, 2021, the court dismissed certain of plaintiffs' claims, including all claims against current CEO Craig Billings and the individual directors, and allowed other claims to proceed against the Company and several of the Company's former executive officers, including Matthew Maddox, Stephen A. Wynn, Kimmarie Sinatra, and Steven Cootey. On March 2, 2023, the court granted the plaintiffs' motion for class certification and appointed lead counsel. On August 22, 2024, the parties reached an agreement to settle the action, in its entirety, for the amount of $70.0 million, of which the Company contributed $9.4 million. The court preliminarily approved the settlement on October 10, 2024, and issued its final approval of the settlement on January 27, 2025. The Company's $9.4 million net contribution toward the settlement is recorded within Property charges and other expenses within the accompanying Consolidated Statements of Operations for the year ended December 31, 2024. Federal Investigation From time to time, the Company receives regulatory inquiries about compliance with anti-money laundering laws. The Company received requests for information from the U.S. Attorney’s Office for the Southern District of California ("USAO") relating to its anti-money laundering policies and procedures, and beginning in 2020 received several grand jury subpoenas regarding various transactions at Wynn Las Vegas relating to certain patrons and agents who reside or operate in foreign jurisdictions. On September 6, 2024, Wynn Las Vegas entered into a non-prosecution agreement (the "NPA") with the USAO and the United States Department of Justice (the "DOJ") resolving such investigation. Pursuant to the NPA, Wynn Las Vegas agreed to forfeit $130.0 million in funds involved in transactions at issue and continue to make certain enhancements to its compliance program. The DOJ agreed that, subject to Wynn Las Vegas’s fulfillment of its obligations under the NPA, it will not bring any criminal charges against Wynn Las Vegas concerning the subject matter of its investigation, subject to standard reservations of rights and certain reserved claims. In reaching the resolution set forth in the NPA, the DOJ took into account the historical nature of the transactions at issue; Wynn Las Vegas’s cooperation with the DOJ’s multi-year investigation; that Wynn Las Vegas no longer employs or is affiliated with any of the individuals implicated in the transactions at issue; and Wynn Las Vegas’s extensive remedial measures, many of which were undertaken prior to the parties entering into the NPA. The NPA resolves all prior U.S. federal regulatory inquiries commenced in or about 2014 regarding compliance by Wynn Las Vegas with 18 U.S.C. § 1960 and the Bank Secrecy Act. The $130.0 million forfeiture is recorded within Property charges and other expenses within the accompanying Consolidated Statements of Operations for the year ended December 31, 2024. As set forth in the NPA, Wynn Las Vegas paid $65.0 million in 2024 and recorded the remaining $65.0 million (which will be paid in 2025) in Other accrued liabilities on the Consolidated Balance Sheet as of December 31, 2024.

Retail Joint Venture

Retail Joint Venture	12 Months Ended
	Dec. 31, 2024
Variable Interest Entities [Abstract]
Retail Joint Venture	Retail Joint Venture In December 2016, the Company entered into the Retail Joint Venture with Crown Acquisitions Inc. ("Crown") to own and operate approximately 88,000 square feet of existing retail space at Wynn Las Vegas. In November 2017 and March 2022, the Company contributed approximately 74,000 square feet and 70,000 square feet of additional retail space to the Retail Joint Venture. The Company maintains a 50.1% ownership in the Retail Joint Venture and is the managing member. The Company's responsibilities with respect to the Retail Joint Venture include day-to-day business operations, property management services and a role in the leasing decisions of the retail space. The Company assessed its ownership in the Retail Joint Venture based on consolidation accounting guidance with an evaluation being performed to determine if the Retail Joint Venture is a VIE, if the Company has a variable interest in the Retail Joint Venture and if the Company is the primary beneficiary of the Retail Joint Venture. The primary beneficiary is the party who has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. The Company concluded that the Retail Joint Venture is a VIE and the Company is the primary beneficiary based on its involvement in the leasing activities of the Retail Joint Venture. As a result, the Company consolidates all of the Retail Joint Venture's assets, liabilities and results of operations. The Company will evaluate its primary beneficiary designation on an ongoing basis and will assess the appropriateness of the Retail Joint Venture's VIE status when changes occur. As of December 31, 2024 and 2023, the Retail Joint Venture had total assets of $100.3 million and $102.5 million, respectively, and total liabilities of $605.8 million and $621.9 million, respectively. The Retail Joint Venture's total liabilities as of December 31, 2024 and 2023 included long-term debt of $597.3 million and $614.1 million, respectively, net of debt issuance costs, related to the outstanding borrowings under the Retail Term Loan.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has identified its reportable segments based on factors such as geography, regulatory environment, the Company's organizational and management reporting structure and the information reviewed by its chief operating decision maker, the Company's Chief Executive Officer. The primary profitability measure used by the Company's CEO to review segment operating results and allocate resources is Adjusted Property EBITDAR. The Company has identified the following reportable segments: (i) Wynn Macau, representing the aggregate of Wynn Macau and Encore, an expansion at Wynn Macau, which are managed as a single integrated resort; (ii) Wynn Palace; (iii) Las Vegas Operations, representing the aggregate of Wynn Las Vegas, Encore, an expansion at Wynn Las Vegas, and the Retail Joint Venture, which are managed as a single integrated resort; and (iv) Encore Boston Harbor. For geographical reporting purposes, Wynn Macau, Wynn Palace, and Other Macau (which represents the assets of the Company's Macau holding company and other ancillary entities) have been aggregated into Macau Operations. Corporate and other is presented solely for the purpose of reconciliation and is not a reportable segment. During the twelve months ended December 31, 2024, Wynn Interactive Ltd. no longer met the requirements for a reportable segment. As a result, its assets and results of operations are presented in Corporate and other and previous period amounts have been reclassified to be consistent with the current period presentation. The following tables present the Company's segment information (in thousands): Year Ended December 31, 2024 Wynn Palace Wynn Macau Las Vegas Operations Encore Boston Harbor Corporate and Other Total Operating revenues Casino $ 1,795,604 $ 1,230,351 $ 600,088 $ 635,314 $ — $ 4,261,357 Rooms 202,936 100,631 845,660 92,831 — 1,242,058 Food and beverage 125,398 80,779 778,538 84,402 — 1,069,117 Entertainment, retail and other (1) 93,733 52,885 347,627 44,617 16,567 555,429 Total operating revenues 2,217,671 1,464,646 2,571,913 857,164 16,567 7,127,961 Cost of revenue (2) 533,331 410,810 1,549,877 422,974 17,283 Gaming taxes (3) 950,630 611,984 75,274 187,062 3,819 Adjusted Property EBITDAR (4) $ 733,710 $ 441,852 $ 946,762 $ 247,128 $ (4,535) $ 2,364,917 Other operating expenses Pre-opening 9,355 Depreciation and amortization 658,895 Property charges and other (5) 215,095 Corporate expense and other 148,236 Stock-based compensation 59,029 Triple-net operating lease expense 141,576 Total other operating expenses 1,232,186 Operating income 1,132,731 Other non-operating income and expenses Interest income 130,342 Interest expense, net of amounts capitalized (688,410) Change in derivatives fair value 42,478 Loss on debt financing transactions (2,913) Other 29,170 Total other non-operating income and expenses (489,333) Income before income taxes 643,398 Provision for income taxes (3,682) Net income 639,716 Net income attributable to noncontrolling interests (138,638) Net income attributable to Wynn Resorts, Limited $ 501,078 Year Ended December 31, 2023 Wynn Palace Wynn Macau Las Vegas Operations Encore Boston Harbor Corporate and Other Total Operating revenues Casino $ 1,471,280 $ 970,269 $ 628,185 $ 648,668 $ — $ 3,718,402 Rooms 201,783 109,308 784,385 90,195 — 1,185,671 Food and beverage 104,566 68,017 770,401 85,653 — 1,028,637 Entertainment, retail and other (1) 109,215 65,940 297,635 41,270 85,127 599,187 Total operating revenues 1,886,844 1,213,534 2,480,606 865,786 85,127 6,531,897 Cost of revenue (2) 486,909 378,178 1,458,789 418,784 106,752 Gaming taxes (3) 784,089 497,265 75,574 189,593 21,021 Adjusted Property EBITDAR (4) $ 615,846 $ 338,091 $ 946,243 $ 257,409 $ (42,646) $ 2,114,943 Other operating expenses Pre-opening 9,468 Depreciation and amortization 687,270 Impairment of goodwill and intangible assets 94,490 Property charges and other (5) 130,877 Corporate expense and other 146,430 Stock-based compensation 64,515 Triple-net operating lease expense 141,722 Total other operating expenses 1,274,772 Operating income 840,171 Other non-operating income and expenses Interest income 175,785 Interest expense, net of amounts capitalized (751,509) Change in derivatives fair value 45,098 Loss on debt financing transactions (12,683) Other (11,479) Total other non-operating income and expenses (554,788) Income before income taxes 285,383 Benefit for income taxes 496,834 Net income 782,217 Net loss attributable to noncontrolling interests (52,223) Net income attributable to Wynn Resorts, Limited $ 729,994 Year Ended December 31, 2022 Wynn Palace Wynn Macau Las Vegas Operations Encore Boston Harbor Corporate and Other Total Operating revenues Casino $ 255,886 $ 216,639 $ 535,279 $ 624,738 $ — $ 1,632,541 Rooms 40,079 25,691 651,291 85,078 — 802,138 Food and beverage 35,546 25,334 702,515 82,818 — 846,214 Entertainment, retail and other (1) 78,778 43,585 243,051 38,439 72,078 475,932 Total operating revenues 410,289 311,249 2,132,136 831,073 72,078 3,756,825 Cost of revenue (2) 365,064 319,443 1,265,818 405,413 148,233 Gaming taxes (3) 141,782 115,853 65,223 182,274 22,335 Adjusted Property EBITDAR (4) $ (96,557) $ (124,047) $ 801,095 $ 243,386 $ (98,490) $ 725,387 Other operating expenses Pre-opening 20,643 Depreciation and amortization 692,318 Gain on EBH Transactions, net (181,989) Impairment of goodwill and intangible assets 48,036 Property charges and other 65,116 Corporate expense and other 102,539 Stock-based compensation 67,627 Triple-net operating lease expense 11,773 Total other operating expenses 826,063 Operating loss (100,676) Other non-operating income and expenses Interest income 29,758 Interest expense, net of amounts capitalized (650,885) Change in derivatives fair value 15,956 Loss on debt financing transactions — Other 5,811 Total other non-operating income and expenses (599,360) Loss before income taxes (700,036) Provision for income taxes (9,332) Net loss (709,368) Net income attributable to noncontrolling interests 285,512 Net loss attributable to Wynn Resorts, Limited $ (423,856) (1) Except for Corporate and other, includes lease revenue accounted for under lease accounting guidance. For more information on leases, see Note 16, "Leases". (2) Primarily comprised of payroll, cost of goods sold, marketing, promotional, facilities, taxes and licenses (excluding gaming taxes) and other operating expenses. (3) For Las Vegas Operations, includes table and slot license fees. (4) "Adjusted Property EBITDAR" is net income (loss) before interest, income taxes, depreciation and amortization, pre-opening expenses, gain on EBH Transaction, net, impairment of goodwill and intangible assets, property charges and other expenses, triple-net operating lease rent expense related to Encore Boston Harbor, management and license fees, corporate expenses and other expenses (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on debt financing transactions, and other non-operating income and expenses. Adjusted Property EBITDAR 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 EBITDAR 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. The Company also presents Adjusted Property EBITDAR 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 EBITDAR 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 EBITDAR calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDAR should not be considered as an alternative to operating income (loss) as an indicator of the Company's 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 (loss), Adjusted Property EBITDAR does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. The Company has significant uses of cash flows, including capital expenditures, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, the Company's calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited. (5) For the year ended December 31, 2024, includes $130.0 million of forfeitures pursuant to the NPA, the Company's $9.4 million contribution towards a legal settlement, $16.9 million of contract termination and other costs related to the closure of Wynn Interactive's digital sports betting and casino gaming business. Property charges and other expenses for the year ended December 31, 2024 also included $61.5 million of expensed project costs related to a discontinued development project, partially offset by a gain of $24.6 million related to the sale of certain Wynn Interactive assets. For the year ended December 31, 2023, includes $94.9 million related to the Company's decision to cease operating Wynn Interactive's online sports betting and iGaming platform in certain jurisdictions. Year Ended December 31, 2024 2023 2022 Capital expenditures Macau Operations: Wynn Palace $ 107,458 $ 66,262 $ 31,946 Wynn Macau 57,669 25,602 13,003 Total Macau Operations 165,127 91,864 44,949 Las Vegas Operations 159,789 187,150 226,386 Encore Boston Harbor 32,652 70,578 20,187 Corporate and other 62,361 93,201 8,605 Total $ 419,929 $ 442,793 $ 300,127 December 31, 2024 2023 2022 Assets Macau Operations: Wynn Palace $ 2,813,190 $ 2,936,264 $ 2,884,073 Wynn Macau 1,412,795 1,864,211 1,430,051 Other Macau 778,928 886,175 268,017 Total Macau Operations 5,004,913 5,686,650 4,582,141 Las Vegas Operations 3,157,399 3,173,247 3,168,597 Encore Boston Harbor 1,980,420 2,006,565 2,080,424 Corporate and other 2,835,231 3,129,761 3,583,938 Total $ 12,977,963 $ 13,996,223 $ 13,415,100 December 31, 2024 2023 2022 Long-lived assets Macau $ 3,095,411 $ 3,191,134 $ 3,382,284 United States 6,019,723 5,585,943 5,570,249 Total $ 9,115,134 $ 8,777,077 $ 8,952,533

Schedule II- Valuation and Qual

Schedule II- Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II- Valuation and Qualifying Accounts	VALUATION AND QUALIFYING ACCOUNTS (in thousands) Description Balance at Beginning of Year Provision for Write-offs, Net of Recoveries Balance at End of Year Allowance for credit losses: 2024 $ 40,075 4,986 (7,367) $ 37,694 2023 $ 78,842 (3,964) (34,803) $ 40,075 2022 $ 111,319 (7,295) (25,182) $ 78,842 Description Balance at Beginning of Year Additions Deductions Balance at End of Year Deferred income tax asset valuation allowance: 2024 $ 1,340,581 50,568 (786,504) $ 604,645 2023 $ 2,437,202 96,623 (1,193,244) $ 1,340,581 2022 $ 2,501,263 108,150 (172,211) $ 2,437,202

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to Wynn Resorts, Limited - basic	$ 501,078	$ 729,994	$ (423,856)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Wynn Resorts’ information security program is designed to preserve the accuracy and integrity of all forms of information processed by us and to protect such information, including our employees' and guests' personally identifiable information and information related to our operations, from misuse, loss, or theft. Our information security program is founded on principles and standards of the National Institute of Standards and Technology Framework for Improving Critical Infrastructure Cybersecurity issued by the U.S. government and is integrated into our overall enterprise risk management system. The Chief Information Security Officer ("CISO") works closely with the Chief Information Officer and the Chief Privacy Counsel to collectively manage our global information security, information technology and data privacy programs. The Company's information security program includes a robust set of controls and safeguards for the systems, applications, and databases of the Company and of its third-party vendors. The CISO manages the information security program and sets annual targets and security objectives. The program includes regular risk assessments and recurring internal and external audits to assess the program’s maturity and effectiveness. The results of these assessments and audits help inform decisions to make program adjustments and evaluate whether the program’s security objectives are effective and up to date. Additional features of our cybersecurity program include security controls, such as firewalls and intrusion detection systems; data loss prevention tools; penetration testing of network, cloud, and application platforms; security assessments of our third-party vendors; and security awareness education for our employees and specialized training for our information security specialists.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Wynn Resorts’ information security program is designed to preserve the accuracy and integrity of all forms of information processed by us and to protect such information, including our employees' and guests' personally identifiable information and information related to our operations, from misuse, loss, or theft.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board of Directors oversees risks relating to cybersecurity. The CISO presents to the Board of Directors on a quarterly basis and the results of the risk assessments and audits on at least an annual basis. These reports also include detailed updates on the Company’s performance preparing for, preventing, detecting, responding to, and recovering from cyber incidents. The CISO has overseen the Company’s information security program for the last 15 years. He holds a Bachelor of Arts degree in Business Administration, and has over 30 years’ total experience in the information technology and security field, including various leadership roles before joining Wynn Resorts. In addition, he holds several industry technical certifications in information security, network engineering, systems engineering, database management, application development, and security intrusions. Failure of our information security program to prevent or detect a cyber incident could result in the compromise of Company and customer information, reputational damage, and/or financial loss. During the periods covered by this report, we did not experience any material cyber incidents and the expenses we incurred from cyber incidents were immaterial. While prior incidents have not had a material impact on us, future incidents could have a material adverse effect on our business, results of operations and cash flows. For additional information about our cybersecurity risks, see " System failure, information leakage and the cost of maintaining sufficient cybersecurity could adversely affect our business
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors oversees risks relating to cybersecurity. The CISO presents to the Board of Directors on a quarterly basis and the results of the risk assessments and audits on at least an annual basis. These reports also include detailed updates on the Company’s performance preparing for, preventing, detecting, responding to, and recovering from cyber incidents. The CISO has overseen the Company’s information security program for the last 15 years. He holds a Bachelor of Arts degree in Business Administration, and has over 30 years’ total experience in the information technology and security field, including various leadership roles before joining Wynn Resorts. In addition, he holds several industry technical certifications in information security, network engineering, systems engineering, database management, application development, and security intrusions.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	We have implemented security monitoring capabilities, designed to alert us to suspicious activity and have developed an incident response program that includes periodic coordinated response exercises designed to restore business operations as quickly and as orderly as practicable in the event of a breach. In the event of cyber incident which may be considered "material" under the SEC's disclosure rules, Wynn Resorts has established a separate committee comprised of the General Counsel, the Chief Financial Officer, the Chief Privacy Counsel, and the CISO. The Materiality Committee is responsible for determining whether a cyber incident, or series of incidents, is "material" and requires disclosure under Item 1.05 of Form 8-K as well as informing the Board of Directors about the incident from a risk oversight perspective.
Cybersecurity Risk Role of Management [Text Block]	The Board of Directors oversees risks relating to cybersecurity. The CISO presents to the Board of Directors on a quarterly basis and the results of the risk assessments and audits on at least an annual basis. These reports also include detailed updates on the Company’s performance preparing for, preventing, detecting, responding to, and recovering from cyber incidents. The CISO has overseen the Company’s information security program for the last 15 years. He holds a Bachelor of Arts degree in Business Administration, and has over 30 years’ total experience in the information technology and security field, including various leadership roles before joining Wynn Resorts. In addition, he holds several industry technical certifications in information security, network engineering, systems engineering, database management, application development, and security intrusions. Failure of our information security program to prevent or detect a cyber incident could result in the compromise of Company and customer information, reputational damage, and/or financial loss. During the periods covered by this report, we did not experience any material cyber incidents and the expenses we incurred from cyber incidents were immaterial. While prior incidents have not had a material impact on us, future incidents could have a material adverse effect on our business, results of operations and cash flows. For additional information about our cybersecurity risks, see " System failure, information leakage and the cost of maintaining sufficient cybersecurity could adversely affect our business
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Chief Information Security Officer ("CISO") works closely with the Chief Information Officer and the Chief Privacy Counsel to collectively manage our global information security, information technology and data privacy programs
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The CISO has overseen the Company’s information security program for the last 15 years. He holds a Bachelor of Arts degree in Business Administration, and has over 30 years’ total experience in the information technology and security field, including various leadership roles before joining Wynn Resorts. In addition, he holds several industry technical certifications in information security, network engineering, systems engineering, database management, application development, and security intrusions.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The CISO presents to the Board of Directors on a quarterly basis and the results of the risk assessments and audits on at least an annual basis. These reports also include detailed updates on the Company’s performance preparing for, preventing, detecting, responding to, and recovering from cyber incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and include the accounts of the Company, its majority-owned subsidiaries, and entities the Company identifies as variable interest entities ("VIEs") of which the Company is determined to be the primary beneficiary. For information on the Company's VIEs, see Note 19, "Retail Joint Venture." If the entity does not qualify for consolidation and the Company has significant influence over the operating and financial decisions of the entity, the Company accounts for the entity under the equity method. For more information on the Company's equity method investments, see Investments in Unconsolidated Affiliate within Note 2, "Basis of Presentation and Significant Accounting Policies." All significant intercompany accounts and transactions have been eliminated. Certain amounts in the consolidated financial statements for the years ended December 31, 2023 and 2022 have been reclassified to be consistent with the current period presentation. These reclassifications had no effect on the previously reported net income (loss) or operating income (loss).
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and assumptions reflected in the financial statements relate to and include, but are not limited to, inputs into the Company's estimated allowance for deferred tax assets and credit losses, estimates regarding the useful lives and recoverability of long-lived and intangible assets, valuations of derivatives, and litigation and contingency estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less and include both U.S. dollar-denominated and foreign currency-denominated securities. Cash equivalents are carried at cost, which approximates fair value. Restricted cash consists of cash collateral associated with obligations, cash held in a trust in accordance with WML's share award plan, and an amount held in the form of a first demand bank guarantee in favor of the Macau government to support Wynn Macau SA's legal and contractual obligations under the Gaming Concession Contract.
Investments	Investments
Accounts Receivable and Credit Risk	Accounts Receivable and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino accounts receivable. The Company issues credit in the form of "markers" to approved casino customers following investigations of creditworthiness. Accounts receivable, including casino and hotel receivables, are typically non-interest bearing and are recorded at amortized cost. Casino receivables primarily consist of credit issued to patrons in the form of markers. The Company issues credit based on factors such as level of play and financial resources, following background and credit checks. The casino credit extended by the Company is generally unsecured and due on demand. An estimated allowance for credit losses is maintained to reduce the Company's receivables to their carrying amount, which reflects the net amount the Company expects to collect. The allowance estimate reflects specific review of customer accounts taking into consideration the amount owed, the age of the account, the customer's financial condition, management's experience with historical and current collection trends, current economic and business conditions, and management's expectations of future economic and business conditions and forecasts. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received.
Inventories	Inventories
Property and Equipment	Property and Equipment Purchases of property and equipment are stated at cost, and when placed into service, are depreciated over the estimated useful lives of the assets using the straight-line method as follows: Estimated Useful Life in Years Buildings and improvements 10 - 45 Land improvements 10 - 45 Furniture, fixtures and equipment 3 - 20 Leasehold interest in land 25 Airplanes 20
Capitalized Interest	Capitalized Interest
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of the tangible and intangible assets acquired and the liabilities assumed. Goodwill is not amortized, but rather is subject to an annual impairment test.
Intangible Assets other than goodwill	Intangible Assets other than Goodwill
Long-Lived Assets	Long-Lived Assets Long-lived assets, which are to be held and used, including finite-lived intangible assets and property and equipment, are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. If an indicator of impairment exists, the Company compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then impairment is measured as the difference between fair value and carrying value, with fair value typically based on a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs.
Lessee Arrangements	Lessee Arrangements The Company is the lessee under non-cancelable real estate and equipment leases. The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Finance and operating lease assets and liabilities are measured and recorded upon lease commencement at the present value of the future minimum lease payments. The Company combines lease and nonlease components in its determination of minimum lease payments, except for certain asset classes that have significant nonlease components. As the interest rate implicit in its leases is not readily determinable, the Company uses its incremental borrowing rate as the discount rate to determine the present value of lease payments. Lease terms include options to extend the lease when it is reasonably certain that such option will be exercised. The Company’s triple-net operating lease related to Encore Boston Harbor contains a renewal period at the Company’s option, which is not considered to be reasonably certain of being exercised. Many of the Company’s leases include fixed rental escalation clauses that are factored into the determination of lease payments. A lessee is required to classify a lease as a finance lease if, among other factors, 1) the term is for the major part of the remaining economic life of the underlying asset or 2) the present value of the sum of the lease payments equals or exceeds substantially all of the fair value of the underlying asset. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. For finance leases, the Company records depreciation of the lease asset on a straight-line basis over the shorter of the lease term or useful life of the lease asset, and the lease liability accretes interest using the discount rate determined at lease commencement. The Company does not record an asset or liability for leases with a term of less than one year. Variable lease costs generally arise from changes in an index, such as the consumer price index. Variable lease costs are expensed as incurred and are not included in the determination of lease assets or liabilities. For sale-leaseback arrangements, such as the EBH Transaction, the Company is required to determine whether the transaction qualifies as a sale, which includes assessing whether a contract exists and if so, whether control has passed to the counterparty in the contract. Control indicators include, but are not limited to, whether the entity has a present right to payment for the asset, whether the customer has legal title to the asset, whether the entity has transferred physical possession of the asset, whether the customer has significant risks and rewards of ownership of the asset, and whether the customer has accepted the asset. If it is determined that a sale has occurred, the Company recognizes an operating or finance lease based on the factors outlined in the preceding paragraph. A finance lease would preclude sale accounting.
Lessor Arrangements	Lessor Arrangements five
Investments in Unconsolidated Affiliate	Investments in Unconsolidated Affiliate The Company accounts for its investment in Island 3, an unconsolidated affiliate which is constructing Wynn Al Marjan Island, using the equity method. Under the equity method, the investment's carrying value is adjusted for the Company’s share of the investee's earnings and losses, capital contributions to and distributions from this company, and capitalization of interest cost incurred by the Company during the investee's initial development period. As of December 31, 2024 and 2023, the Company had investments in unconsolidated affiliate of $648.2 million and $90.9 million, respectively, recorded in noncurrent other assets in the accompanying Consolidated Balance Sheets.
Debt Issuance Costs	Debt Issuance Costs
Derivative Financial Instruments	Derivative Financial Instruments The Company enters into interest rate protection agreements to manage interest rate exposure on certain debt. The fair value of such agreements is recognized as an asset or liability at each balance sheet date, with changes in fair value recorded in earnings as these agreements do not qualify for hedge accounting. See Note 7, "Long-Term Debt" for additional information.
Revenue Recognition	Revenue Recognition The Company's revenue from contracts with customers primarily consists of casino wagers and sales of rooms, food and beverage, entertainment, retail and other goods and services. Gross casino revenues are measured by the aggregate net difference between gaming wins and losses. The Company applies a practical expedient by accounting for its casino wagering transactions on a portfolio basis versus an individual basis as all wagers have similar characteristics. Commissions rebated to customers either directly or indirectly through games promoters and cash discounts and other cash incentives earned by customers are recorded as a reduction of casino revenues. In addition to the wager, casino transactions typically include performance obligations related to complimentary goods or services provided to incentivize future gaming or in exchange for points earned under the Company's loyalty programs. For casino transactions that include complimentary goods or services provided by the Company to incentivize future gaming, the Company allocates the standalone selling price of each good or service to the appropriate revenue type based on the good or service provided. Complimentary goods or services that are provided under the Company's control and discretion and supplied by third parties are recorded as an operating expense. The Company offers loyalty programs at each of its resorts. Customers earn points based on their level of table games and slots play, which can be redeemed for slots free play, gifts and complimentary goods or services provided by the Company. For casino transactions that include points earned under the Company's loyalty programs, the Company defers a portion of the revenue by recording the estimated standalone selling price of the earned points that are expected to be redeemed as a liability. Upon redemption of the points for Company-owned goods or services, the standalone selling price of each good or service is allocated to the appropriate revenue type based on the good or service provided. Upon the redemption of points with third parties, the redemption amount is deducted from the liability and paid directly to the third party with any difference between the amount paid and the stand-alone selling price recorded as Entertainment, retail and other revenue in the accompanying Consolidated Statements of Operations. After allocating amounts to the complimentary goods or services provided and to the points earned under the Company's loyalty programs, the residual amount is recorded as casino revenue when the wager is settled.
Gaming Taxes	Gaming Taxes
Advertising Costs	Advertising Costs
Pre-Opening Expenses	Pre-opening Expenses
Income Taxes	Income Taxes The Company is subject to income taxes in the U.S. and foreign jurisdictions where it operates. Accounting standards require the recognition of deferred tax assets, net of applicable reserves, and liabilities for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities generally is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not; otherwise, a valuation allowance is applied. The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. The accounting standards prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. If a tax position, based on its technical merits, is deemed more likely than not to be sustained, then the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes.
Foreign Currency	Foreign Currency Gains or losses from foreign currency remeasurements are included in Other income (expense) in the accompanying Consolidated Statements of Operations. Balance sheet accounts are translated at the exchange rate in effect at each balance sheet date and income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive loss.
Comprehensive Loss and Accumulated Other Comprehensive Income Loss	Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) includes net income (loss) and all other non-stockholder changes in equity or other comprehensive income (loss). Components of the Company's comprehensive income (loss) are reported in the accompanying Consolidated Statements of Stockholders' Deficit and Consolidated Statements of Comprehensive Income (Loss).
Fair Value Measurements	Fair Value Measurements The Company measures certain of its financial assets and liabilities, at fair value on a recurring basis pursuant to accounting standards for fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. These accounting standards establish a three-tier fair value hierarchy, which prioritizes the inputs used to measure fair value. These tiers include: • Level 1 - Observable inputs such as quoted prices in active markets. • Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable. • Level 3
Stock-Based Compensation	Stock-Based Compensation
Recently Issued Accounting Standards	Recently Issued Accounting Standards The Company’s management has evaluated all of the recently issued, but not yet effective, accounting standards that have been issued or proposed by the Financial Accounting Standards Board ("FASB") or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position, results of operations and cash flows.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Assets	Purchases of property and equipment are stated at cost, and when placed into service, are depreciated over the estimated useful lives of the assets using the straight-line method as follows: Estimated Useful Life in Years Buildings and improvements 10 - 45 Land improvements 10 - 45 Furniture, fixtures and equipment 3 - 20 Leasehold interest in land 25 Airplanes 20

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash, cash equivalents and restricted cash consisted of the following (in thousands): December 31, 2024 2023 Cash and cash equivalents: Cash (1) $ 1,639,151 $ 1,076,474 Cash equivalents (2) 787,004 1,802,712 Total cash and cash equivalents 2,426,155 2,879,186 Restricted cash (3) 95,638 90,226 Total cash, cash equivalents and restricted cash $ 2,521,793 $ 2,969,412 (1) Cash consists of cash on hand and bank deposits. (2) Cash equivalents consist of bank time deposits and money market funds. (3)
Schedule of Restricted Cash and Cash Equivalents	Cash, cash equivalents and restricted cash consisted of the following (in thousands): December 31, 2024 2023 Cash and cash equivalents: Cash (1) $ 1,639,151 $ 1,076,474 Cash equivalents (2) 787,004 1,802,712 Total cash and cash equivalents 2,426,155 2,879,186 Restricted cash (3) 95,638 90,226 Total cash, cash equivalents and restricted cash $ 2,521,793 $ 2,969,412 (1) Cash consists of cash on hand and bank deposits. (2) Cash equivalents consist of bank time deposits and money market funds. (3)
Schedule of Cash Flow, Supplemental Disclosures	The following table disclose the supplemental cash flow disclosures of the Company (in thousands): Year Ended December 31, 2024 2023 2022 Cash paid for interest, net of amounts capitalized $ 658,438 $ 688,350 $ 618,395 Capitalized stock-based compensation $ 5,242 $ 5,268 $ 3,246 Cash paid for income taxes $ 10,160 $ 10,310 $ 5,290 Finance lease liabilities arising from obtaining finance lease assets $ 80,021 $ 8,842 $ 5,906 Liability settled with shares of common stock $ 8,015 $ 6,639 $ 9,287 Accounts and construction payables related to property and equipment $ 85,949 $ 60,313 $ 64,861 Other liabilities related to intangible assets (1) $ — $ 209,410 $ 4,220 Net settlement of liabilities in connection with an asset sale $ 27,655 $ — $ — (1) For the year ended December 31, 2023, included $206.5 million related to the Macau gaming premium in connection with the Gaming Concession Contract. See Note 6, "Goodwill and Intangible Assets, net" for further information.

Receivables, net (Tables)

Receivables, net (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Receivables, net	Receivables, net consisted of the following (in thousands): December 31, 2024 2023 Casino $ 236,642 $ 218,694 Hotel 45,996 54,596 Other 79,072 108,497 361,710 381,787 Less: allowance for credit losses (37,694) (40,075) $ 324,016 $ 341,712 The following table shows the movement in the Company's allowance for credit losses recognized for receivables that occurred during the period (in thousands): December 31, 2024 2023 Balance at beginning of year $ 40,075 $ 78,842 Provision for credit losses 4,986 (3,964) Write-offs (13,262) (47,611) Recoveries of receivables previously written-off 5,801 12,897 Effect of exchange rate 94 (89) Balance at end of period $ 37,694 $ 40,075

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): December 31, 2024 2023 Buildings and improvements $ 8,547,922 $ 8,459,085 Land and improvements 1,210,455 1,228,652 Furniture, fixtures and equipment 3,424,361 3,311,478 Airplanes 110,623 110,623 Construction in progress 287,436 162,592 13,580,797 13,272,430 Less: accumulated depreciation (7,059,514) (6,583,951) $ 6,521,283 $ 6,688,479

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill and intangible assets, net consisted of the following (in thousands): December 31, 2024 2023 Finite-lived intangible assets: Macau gaming concession $ 210,630 $ 209,199 Less: accumulated amortization (42,126) (20,920) 168,504 188,279 Massachusetts gaming license 117,700 117,700 Less: accumulated amortization (43,331) (35,484) 74,369 82,216 Other finite-lived intangible assets 5,400 50,154 Less: accumulated amortization (2,071) (17,801) 3,329 32,353 Total finite-lived intangible assets 246,202 302,848 Indefinite-lived intangible assets: Water rights and other 8,397 8,397 Total indefinite-lived intangible assets 8,397 8,397 Goodwill: Balance at beginning of year 18,463 90,520 Impairment — (72,057) Balance end of period 18,463 18,463 Total goodwill and intangible assets, net $ 273,062 $ 329,708
Indefinite-Lived Intangible Assets	Goodwill and intangible assets, net consisted of the following (in thousands): December 31, 2024 2023 Finite-lived intangible assets: Macau gaming concession $ 210,630 $ 209,199 Less: accumulated amortization (42,126) (20,920) 168,504 188,279 Massachusetts gaming license 117,700 117,700 Less: accumulated amortization (43,331) (35,484) 74,369 82,216 Other finite-lived intangible assets 5,400 50,154 Less: accumulated amortization (2,071) (17,801) 3,329 32,353 Total finite-lived intangible assets 246,202 302,848 Indefinite-lived intangible assets: Water rights and other 8,397 8,397 Total indefinite-lived intangible assets 8,397 8,397 Goodwill: Balance at beginning of year 18,463 90,520 Impairment — (72,057) Balance end of period 18,463 18,463 Total goodwill and intangible assets, net $ 273,062 $ 329,708
Finite-Lived Intangible Assets	Goodwill and intangible assets, net consisted of the following (in thousands): December 31, 2024 2023 Finite-lived intangible assets: Macau gaming concession $ 210,630 $ 209,199 Less: accumulated amortization (42,126) (20,920) 168,504 188,279 Massachusetts gaming license 117,700 117,700 Less: accumulated amortization (43,331) (35,484) 74,369 82,216 Other finite-lived intangible assets 5,400 50,154 Less: accumulated amortization (2,071) (17,801) 3,329 32,353 Total finite-lived intangible assets 246,202 302,848 Indefinite-lived intangible assets: Water rights and other 8,397 8,397 Total indefinite-lived intangible assets 8,397 8,397 Goodwill: Balance at beginning of year 18,463 90,520 Impairment — (72,057) Balance end of period 18,463 18,463 Total goodwill and intangible assets, net $ 273,062 $ 329,708

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consisted of the following (in thousands): December 31, 2024 2023 Macau Related: WM Cayman II Revolver, due 2028 (1) $ 1,151,874 $ 1,497,610 WML 4 7/8% Senior Notes, due 2024 (2) — 600,000 WML 5 1/2% Senior Notes, due 2026 1,000,000 1,000,000 WML 5 1/2% Senior Notes, due 2027 750,000 750,000 WML 5 5/8% Senior Notes, due 2028 1,350,000 1,350,000 WML 5 1/8% Senior Notes, due 2029 1,000,000 1,000,000 WML 4 1/2% Convertible Bonds, due 2029 (3) 600,000 600,000 U.S. and Corporate Related: WRF Credit Facilities (4) : WRF Term Loan, due 2024 — 73,683 WRF Term Loan, due 2027 763,125 730,692 WLV 5 1/2% Senior Notes, due 2025 (2) — 1,380,001 WLV 5 1/4% Senior Notes, due 2027 880,000 880,000 WRF 5 1/8% Senior Notes, due 2029 750,000 750,000 WRF 7 1/8% Senior Notes, due 2031 1,000,000 600,000 WRF 6 1/4% Senior Notes, due 2033 800,000 — Retail Term Loan, due 2027 (5) 600,000 615,000 10,644,999 11,826,986 WML Convertible Bond Conversion Option Derivative 33,007 73,744 Less: Unamortized debt issuance costs and original issue discounts and premium, net (136,272) (162,393) 10,541,734 11,738,337 Less: Current portion of long-term debt (41,250) (709,593) Total long-term debt, net of current portion $ 10,500,484 $ 11,028,744 (1) As of December 31, 2024, the borrowings under the WM Cayman II Revolver bear interest at the term secured overnight financing rate ("Term SOFR") plus a credit adjustment spread of 0.10% or the Hong Kong Interbank Offered Rate ("HIBOR"), in each case plus a margin of 1.875% to 2.875% per annum based on WM Cayman II’s leverage ratio on a consolidated basis. Approximately $239.1 million and $912.8 million of the WM Cayman II Revolver bears interest at a rate of Term SOFR plus 1.975% per year and HIBOR plus 1.875% per year, respectively. As of December 31, 2024 and 2023, the weighted average interest rate was approximately 6.43% and 7.20%, respectively. As of December 31, 2024, the available borrowing capacity under the WM Cayman II Revolver was $353.8 million. (2) In October 2024, the Company repaid or repurchased the 2024 WML Senior Notes and 2025 WLV Senior Notes. (3) As of December 31, 2024, the net carrying amount of the WML Convertible Bonds was $498.4 million, with unamortized debt discount and debt issuance costs of $101.6 million. The Company recorded contractual interest expense of $27.0 million and $22.1 million and amortization of discounts and issuance costs of $18.9 million and $14.2 million during the years ended December 31, 2024 and 2023. (4) The WRF Credit Facilities bear interest at a rate of Term SOFR plus 1.75% per year. As of December 31, 2024 and 2023, the weighted average interest rate was approximately 6.21% and 7.21%, respectively. Additionally, as of December 31, 2024, the available borrowing capacity under the WRF Revolver was $735.3 million, net of $14.7 million in outstanding letters of credit. (5)
Scheduled Maturities of Long-Term Debt	Scheduled maturities of long-term debt as of December 31, 2024 were as follows (in thousands): Years Ending December 31, 2025 $ 41,250 2026 1,041,250 2027 2,910,625 2028 2,501,874 2029 2,350,000 Thereafter 1,800,000 10,644,999 WML Convertible Bond Conversion Option Derivative 33,007 Unamortized debt issuance costs and original issue discounts and premium, net (136,272) $ 10,541,734

WML Convertible Bond Conversi_2

WML Convertible Bond Conversion Option Derivative (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Valuation Techniques for Embedded Derivative	The following table sets forth the inputs to the lattice models that were used to value the embedded derivative: December 31, 2024 December 31, 2023 WML stock price HK$ 5.39 HK$ 6.43 Estimated volatility 31.2 % 34.0 % Risk-free interest rate 3.6 % 3.3 % Expected term (years) 4.2 5.2 Dividend yield (1) 0.0 % 0.0 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Carried at Fair Value	The following tables present assets and liabilities carried at fair value (in thousands): Fair Value Measurements Using: December 31, 2024 Quoted Other Unobservable Assets: Cash equivalents $ 787,004 $ — $ 787,004 $ — Restricted cash $ 95,638 $ 6,434 $ 89,204 $ — Interest rate swap $ 7,510 $ — $ 7,510 $ — Liabilities: WML Convertible Bond Conversion Option Derivative (see Note 8) $ 33,007 $ — $ — $ 33,007 Fair Value Measurements Using: December 31, 2023 Quoted Other Unobservable Assets: Cash equivalents $ 1,802,712 $ — $ 1,802,712 $ — Restricted cash $ 90,226 $ 2,170 $ 88,056 $ — Fixed deposits $ 550,000 $ — $ 550,000 $ — Interest rate collar $ 5,769 $ — $ 5,769 $ — Liabilities: WML Convertible Bond Conversion Option Derivative (see Note 8) $ 73,744 $ — $ — $ 73,744

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Benefit Plans	The Company participates in the following multi-employer pension plans (in thousands): Zone Status Contributions by the Company Company Contribution > 5% Expiration Date of Collective Bargaining Agreements Pension Fund Employer EIN/ 2023 (1) 2022 (1) 2024 2023 2022 Southern Nevada Culinary and Bartenders Pension Plan (2) Wynn Las Vegas, LLC 88-6016617/1 Green Green $ 17,272 $ 15,849 $ 13,462 Yes 11/30/2028 Western Conference of Teamsters Pension Trust Fund Wynn Las Vegas, LLC 91-6145047/ Green Green 285 226 72 No 7/31/2029 UNITE HERE! Workers and Hospitality Employers Variable Defined Benefit Pension Fund (3) Encore Boston Harbor 45-4227067/026 Green Green 3,955 — — No 8/31/2026 New England Teamster Pension Fund (3) Encore Boston Harbor 04-6372430/001 Red (4) Red (4) 516 — — No 8/31/2026 (1) Represents plan status for plan years ending in 2023 and 2022, which are the the most recent years for which plan data is available. (2) Includes union employees under the terms of the collective-bargaining agreements with the Culinary Workers Union, Local 226, and Bartenders Union, Local 165. (3) Contributions by the Company began on January 1, 2024. (4) Plan has implemented a rehabilitation plan for the plan years presented.

Customer Contract Liabilities (

Customer Contract Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue Recognition [Abstract]
Schedule of Customer Contract Liabilities	The Company's primary liabilities associated with customer contracts are as follows (in thousands): December 31, 2024 December 31, 2023 Increase/ (Decrease) December 31, 2023 December 31, 2022 Increase/ (Decrease) Casino outstanding chips and front money deposits (1) $ 409,928 $ 433,269 $ (23,341) $ 433,269 $ 390,531 $ 42,738 Advance room deposits and ticket sales (2) 84,460 89,640 (5,180) 89,640 85,019 4,621 Other gaming-related liabilities (3) 15,458 24,964 (9,506) 24,964 31,265 (6,301) Loyalty program and related liabilities (4) 29,489 31,106 (1,617) 31,106 35,083 (3,977) $ 539,335 $ 578,979 $ (39,644) $ 578,979 $ 541,898 $ 37,081 (1) Casino outstanding chips generally represent amounts owed to gaming promoters and customers for chips in their possession, and casino front money deposits represent funds deposited by customers before gaming play occurs. These amounts are included in customer deposits on the Consolidated Balance Sheets and may be recognized as revenue or redeemed for cash in the future. (2) Advance room deposits and ticket sales represent cash received in advance for goods or services to be provided in the future. These amounts are included in customer deposits on the Consolidated Balance Sheets and will be recognized as revenue when the goods or services are provided or the events are held. Decreases in this balance generally represent the recognition of revenue and increases in the balance represent additional deposits made by customers. The deposits are expected to primarily be recognized as revenue within one year. (3) Other gaming-related liabilities generally represent unpaid wagers primarily in the form of unredeemed slot, race and sportsbook tickets or wagers for future sporting events. The amounts are included in other accrued liabilities on the Consolidated Balance Sheets. (4) Loyalty program and related liabilities represent the deferral of revenue until the loyalty points or other complimentaries are redeemed. The amounts are included in other accrued liabilities on the Consolidated Balance Sheets and are expected to be recognized as revenue within one year of being earned by customers.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Option Activity	The summary of stock option activity for the year ended December 31, 2024 is presented below: Options Weighted Average Exercise Price Weighted Aggregate Intrinsic Value WRL Omnibus Plan Outstanding as of January 1, 2024 23,985 $ 61.48 Granted — $ — Exercised (17,285) $ 58.85 Forfeited or expired — $ — Outstanding as of December 31, 2024 6,700 $ 68.25 0.8 $ 119,997 Fully vested and expected to vest as of December 31, 2024 6,700 $ 68.25 0.8 $ 119,997 Exercisable as of December 31, 2024 6,700 $ 68.25 0.8 $ 119,997 WML Share Option Plan Outstanding as of January 1, 2024 37,220,400 $ 1.52 Granted 4,983,000 $ 0.75 Exercised — $ — Forfeited or expired (644,000) $ 4.00 Outstanding as of December 31, 2024 41,559,400 $ 1.40 6.4 $ 419,076 Fully vested and expected to vest as of December 31, 2024 41,559,400 $ 1.40 6.4 $ 419,076 Exercisable as of December 31, 2024 24,287,400 $ 1.75 5.2 $ 167,630 The following is provided for stock options under the Company's stock-based compensation plans (in thousands, except weighted average grant date fair value): Year Ended December 31, 2024 2023 2022 WRL Omnibus Plan (1) Weighted average grant date fair value $ — $ — $ 18.56 Intrinsic value of stock options exercised $ 832 $ 1,475 $ — Cash received from the exercise of stock options $ 1,017 $ 1,965 $ — WML Share Option Plan (2) Weighted average grant date fair value $ 0.25 $ 0.25 $ 0.26 Intrinsic value of stock options exercised $ — $ — $ — Cash received from the exercise of stock options $ — $ — $ — (1) As of December 31, 2024, there was no unamortized compensation expense related to stock options. (2) As of December 31, 2024, there was $4.3 million of unamortized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 3.26 years.
Valuation Assumptions	The fair value of stock options granted under the WRL Omnibus Plan was estimated on the date of grant using the following weighted average assumption: Year Ended December 31, 2024 2023 2022 Expected dividend yield — % — % — % Expected volatility — % — % 56.9 % Risk-free interest rate — % — % 2.7 % Expected term (years) — — 1.8 The fair value of stock options granted under WML's Share Option Plan was estimated on the date of grant using the following weighted average assumptions: Year Ended December 31, 2024 2023 2022 Expected dividend yield 5.4 % 5.7 % 1.3 % Expected volatility 54.2 % 53.8 % 45.7 % Risk-free interest rate 3.1 % 3.6 % 3.2 % Expected term (years) 6.5 6.5 6.5 The fair value of PSUs granted under the WRL Omnibus Plan was estimated on the date of grant using the following weighted average assumptions: Year Ended December 31, 2024 2023 Expected volatility 45 % 55 % Risk-free interest rate 4.1 % 3.8 %
Nonvested and Performance Nonvested Share Activity	The summary of nonvested and performance nonvested share activity under the Company's stock-based compensation plans for the year ended December 31, 2024 is presented below: Shares Weighted Average Grant Date Fair Value WRL Omnibus Plan Nonvested as of January 1, 2024 977,658 $ 96.63 Granted 597,633 $ 93.12 Vested (526,612) $ 94.62 Forfeited (29,708) $ 102.97 Nonvested as of December 31, 2024 1,018,971 $ 95.52 WML Share Award Plan Nonvested as of January 1, 2024 22,331,806 $ 0.92 Granted 8,931,255 $ 0.90 Vested (5,487,607) $ 1.04 Forfeited (1,253,005) $ 0.95 Nonvested as of December 31, 2024 24,522,449 $ 0.89
Schedule of Stock-Based Compensation Plans	The following is provided for the share awards under the Company's stock-based compensation plans (in thousands, except weighted average grant date fair value): Year Ended December 31, 2024 2023 2022 WRL Omnibus Plan Weighted average grant date fair value $ 93.12 $ 94.13 $ 62.34 Fair value of shares vested $ 49,544 $ 56,689 $ 52,965 WML Share Award Plan Weighted average grant date fair value $ 0.90 $ 1.08 $ 0.62 Fair value of shares vested $ 4,422 $ 3,941 $ 20,547
Schedule of Performance Shares Activity	The summary of PSU activity during the year ended December 31, 2024 is provided below: Units Weighted Average Grant Date Fair Value Nonvested as of January 1, 2024 24,910 $ 121.70 Granted 25,885 $ 110.40 Vested — $ — Forfeited — $ — Nonvested as of December 31, 2024 50,795 $ 115.94
Share-Based Compensation Allocated Costs	The total compensation cost for stock-based compensation plans was recorded as follows (in thousands): Year Ended December 31, 2024 2023 2022 Casino $ 3,065 $ 2,163 $ 12,401 Rooms 1,028 800 1,252 Food and beverage 2,197 1,636 2,417 Entertainment, retail and other 1,108 8,230 10,964 General and administrative 51,631 51,686 40,593 Total stock-based compensation expense 59,029 64,515 67,627 Total stock-based compensation capitalized 5,242 5,268 3,246 Total stock-based compensation costs $ 64,271 $ 69,783 $ 70,873

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Consolidated Income Loss Before Taxes for Domestic and Foreign	Consolidated income (loss) before taxes for United States ("U.S.") and foreign operations consisted of the following (in thousands): Year Ended December 31, 2024 2023 2022 United States $ 251,003 $ 142,775 $ 339,513 Foreign 392,395 142,608 (1,039,549) Total $ 643,398 $ 285,383 $ (700,036)
Provision (Benefit) for Income Taxes	The income tax provision (benefit) attributable to income before income taxes is as follows (in thousands): December 31, 2024 2023 2022 Current U.S. Federal $ 894 $ (248) $ 825 U.S. State 9,496 6,337 2,882 Foreign 141 (194) 2,510 Total 10,531 5,895 6,217 Deferred U.S. Federal (4,585) (483,786) 1,450 U.S. State (2,264) (20,310) 1,674 Foreign — 1,367 (9) Total (6,849) (502,729) 3,115 Total income tax provision (benefit) $ 3,682 $ (496,834) $ 9,332
Income Taxes (Federal Statutory Corporate Tax Rate)	The reconciliation of the U.S. federal statutory tax rate to the actual tax rate is as follows: December 31, 2024 2023 2022 U.S. Federal statutory rate 21.0 % 21.0 % 21.0 % State tax 1.0 % (2.8) % 0.3 % Foreign tax credits, net of valuation allowance (12.2) % (139.8) % 12.5 % Non-taxable foreign income (6.3) % (9.6) % (5.7) % Foreign tax rate differential (3.9) % 0.4 % (17.0) % Valuation allowance, other (6.6) % (43.8) % (3.1) % Other, net 7.6 % 0.5 % (9.3) % Effective income tax rate 0.6 % (174.1) % (1.3) %
Net Deferred Tax Assets and Liabilities	The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (in thousands): December 31, 2024 2023 Deferred tax assets—U.S.: Foreign tax credit carryforwards $ 533,473 $ 1,244,149 Disallowed interest expense carryforward 157,586 156,224 Net operating loss carryforward 169,598 160,778 Lease liability 370,110 371,032 Property and equipment 72,286 50,903 Receivables, inventories, accrued liabilities and other 21,491 21,854 Stock-based compensation 9,020 9,984 Other tax credit carryforwards 21,562 19,813 Intangibles and related other 36,371 41,914 Other 1,858 — 1,393,355 2,076,651 Less: valuation allowance (479,854) (1,172,982) 913,501 903,669 Deferred tax liabilities—U.S.: Leased asset (370,110) (371,032) Prepaid insurance, maintenance and taxes (15,447) (16,186) Other (20,228) (15,584) (405,785) (402,802) Deferred tax assets—Foreign: Net operating loss carryforwards 32,114 78,842 Property and equipment 91,884 87,849 Other 2,952 3,275 126,950 169,966 Less: valuation allowance (124,791) (167,599) 2,159 2,367 Deferred tax liabilities—Foreign: Property and equipment (2,159) (2,357) (2,159) (2,357) Net deferred tax asset $ 507,716 $ 500,877
Summary of Valuation Allowances	As of December 31, 2024 and 2023, the Company had valuation allowances provided on its deferred tax assets as follows (in thousands): December 31, 2024 2023 Foreign tax credits $ 247,973 $ 941,249 Intangible assets 36,850 46,084 U.S. loss carryforwards 169,598 160,778 Other U.S. deferred tax assets 25,432 24,872 Foreign loss carryforwards 32,674 80,569 Other foreign deferred tax assets 92,118 87,029 Total $ 604,645 $ 1,340,581
Schedule of Unrecognized Tax Benefits Roll Forward	The Company had the following activity for unrecognized tax benefits as follows (in thousands): December 31, 2024 2023 2022 Balance at beginning of period $ 135,671 $ 135,979 $ 141,515 Increases based on tax positions of the current year 11,635 15,818 12,068 Reductions based on tax positions of prior years — — (2,637) Reductions due to lapse in statutes of limitations (16,288) (16,126) (14,967) Balance at end of period $ 131,018 $ 135,671 $ 135,979

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Shares used in Calculation of Earnings Per Share	The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS consisted of the following (in thousands, except per share amounts): Year Ended December 31, 2024 2023 2022 Numerator: Net income (loss) attributable to Wynn Resorts, Limited - basic $ 501,078 $ 729,994 $ (423,856) Effect of dilutive securities of Wynn Resorts, Limited subsidiaries: Assumed conversion of WML Convertible Bonds (21,005) (16,495) — Net income (loss) attributable to Wynn Resorts, Limited - diluted $ 480,073 $ 713,499 $ (423,856) Denominator: Weighted average common shares outstanding 109,966 112,523 113,623 Potential dilutive effect of stock options, nonvested, and performance nonvested shares 301 332 — Weighted average common and common equivalent shares outstanding 110,267 112,855 113,623 Net income (loss) attributable to Wynn Resorts, Limited per common share, basic $ 4.56 $ 6.49 $ (3.73) Net income (loss) attributable to Wynn Resorts, Limited per common share, diluted $ 4.35 $ 6.32 $ (3.73) Anti-dilutive stock options, nonvested, and performance nonvested shares excluded from the calculation of diluted net income per share 310 238 895

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Summary of Lease Assets and Liabilities	The following table summarizes the balance sheet classification of the Company's lease assets and liabilities (in thousands): December 31, Balance Sheet Classification 2024 2023 Assets Operating leases Operating lease assets $ 1,797,276 $ 1,832,896 Finance leases Property and equipment, net $ 94,656 $ 43,078 Current liabilities Operating leases Other accrued liabilities $ 10,869 $ 9,295 Finance leases Other accrued liabilities $ 18,367 $ 13,412 Non-current liabilities Operating leases Long-term operating lease liabilities $ 1,623,890 $ 1,631,749 Finance leases Other long-term liabilities $ 71,592 $ 24,028
Schedule of Lease Cost and Other Information	The following tables disclose the components of the Company's lease cost, supplemental cash flow disclosures, and other information regarding the Company's lease arrangements (in thousands): Year Ended December 31, 2024 2023 2022 Lease cost: Operating lease cost $ 17,146 $ 17,173 $ 18,321 Triple-net operating lease cost related to Encore Boston Harbor 141,576 141,722 11,773 Short-term lease cost 30,443 27,468 21,060 Amortization of leasehold interests in land 13,704 13,666 13,728 Variable lease cost 2,493 1,868 1,081 Finance lease interest cost 3,391 2,363 2,131 Total lease cost $ 208,753 $ 204,260 $ 68,094 Year Ended December 31, 2024 2023 2022 Supplemental cash flow disclosures: Operating lease liabilities arising from obtaining operating lease assets $ 3,803 $ 26,657 $ 1,519,628 Finance lease liabilities arising from obtaining finance lease assets $ 80,021 $ 8,842 $ 5,906 Cash paid for amounts included in the measurement of lease liabilities: Cash used in operating activities - Operating leases $ 141,004 $ 139,054 $ 26,094 Cash used in financing activities - Finance leases $ 19,219 $ 19,267 $ 18,188 Year Ended December 31, 2024 2023 2022 Other information: Weighted-average remaining lease term - Operating leases 29.1 years 30.1 years 31.1 years Weighted-average remaining lease term - Finance leases 10.5 years 19.7 years 16.0 years Weighted-average discount rate - Operating leases 8.0 % 8.0 % 8.0 % Weighted-average discount rate - Finance leases 6.3 % 5.8 % 5.0 %
Schedule of Operating Lease Maturity Analysis	The following table presents an analysis of lease liability maturities as of December 31, 2024 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 141,522 $ 23,412 2026 142,422 23,080 2027 144,767 22,175 2028 145,727 17,377 2029 147,932 989 Thereafter 3,680,177 60,806 Total undiscounted cash flows $ 4,402,547 $ 147,839 Present value Short-term lease liabilities $ 10,869 $ 18,367 Long-term lease liabilities 1,623,890 71,592 Total lease liabilities $ 1,634,759 $ 89,959 Interest on lease liabilities $ 2,767,788 $ 57,880
Schedule of Finance Lease Maturity Analysis	The following table presents an analysis of lease liability maturities as of December 31, 2024 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 141,522 $ 23,412 2026 142,422 23,080 2027 144,767 22,175 2028 145,727 17,377 2029 147,932 989 Thereafter 3,680,177 60,806 Total undiscounted cash flows $ 4,402,547 $ 147,839 Present value Short-term lease liabilities $ 10,869 $ 18,367 Long-term lease liabilities 1,623,890 71,592 Total lease liabilities $ 1,634,759 $ 89,959 Interest on lease liabilities $ 2,767,788 $ 57,880
Schedule of Minimum and Contingent Operating Lease Income	The following table presents the minimum and contingent operating lease income for the periods presented (in thousands): Year Ended December 31, 2024 2023 2022 Minimum rental income $ 138,604 $ 131,901 $ 126,226 Contingent rental income 66,526 96,831 62,586 Total rental income $ 205,130 $ 228,732 $ 188,812
Schedule of Future Minimum Rentals to be Received Under Operating Leases	The following table presents the future minimum rentals to be received under operating leases (in thousands): Year Ending December 31, Operating Leases 2025 $ 135,387 2026 104,509 2027 86,405 2028 59,360 2029 33,977 Thereafter 93,451 Total future minimum rentals $ 513,089

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Other Commitments	As of December 31, 2024, the Company was obligated under these arrangements to make future minimum payments as follows (in thousands): Year Ending December 31, 2025 $ 328,603 2026 65,906 2027 42,341 2028 34,726 2029 29,764 Thereafter 78,873 Total minimum payments $ 580,213

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting [Abstract]
Operations by Segment		The following tables present the Company's segment information (in thousands): Year Ended December 31, 2024 Wynn Palace Wynn Macau Las Vegas Operations Encore Boston Harbor Corporate and Other Total Operating revenues Casino $ 1,795,604 $ 1,230,351 $ 600,088 $ 635,314 $ — $ 4,261,357 Rooms 202,936 100,631 845,660 92,831 — 1,242,058 Food and beverage 125,398 80,779 778,538 84,402 — 1,069,117 Entertainment, retail and other (1) 93,733 52,885 347,627 44,617 16,567 555,429 Total operating revenues 2,217,671 1,464,646 2,571,913 857,164 16,567 7,127,961 Cost of revenue (2) 533,331 410,810 1,549,877 422,974 17,283 Gaming taxes (3) 950,630 611,984 75,274 187,062 3,819 Adjusted Property EBITDAR (4) $ 733,710 $ 441,852 $ 946,762 $ 247,128 $ (4,535) $ 2,364,917 Other operating expenses Pre-opening 9,355 Depreciation and amortization 658,895 Property charges and other (5) 215,095 Corporate expense and other 148,236 Stock-based compensation 59,029 Triple-net operating lease expense 141,576 Total other operating expenses 1,232,186 Operating income 1,132,731 Other non-operating income and expenses Interest income 130,342 Interest expense, net of amounts capitalized (688,410) Change in derivatives fair value 42,478 Loss on debt financing transactions (2,913) Other 29,170 Total other non-operating income and expenses (489,333) Income before income taxes 643,398 Provision for income taxes (3,682) Net income 639,716 Net income attributable to noncontrolling interests (138,638) Net income attributable to Wynn Resorts, Limited $ 501,078 Year Ended December 31, 2023 Wynn Palace Wynn Macau Las Vegas Operations Encore Boston Harbor Corporate and Other Total Operating revenues Casino $ 1,471,280 $ 970,269 $ 628,185 $ 648,668 $ — $ 3,718,402 Rooms 201,783 109,308 784,385 90,195 — 1,185,671 Food and beverage 104,566 68,017 770,401 85,653 — 1,028,637 Entertainment, retail and other (1) 109,215 65,940 297,635 41,270 85,127 599,187 Total operating revenues 1,886,844 1,213,534 2,480,606 865,786 85,127 6,531,897 Cost of revenue (2) 486,909 378,178 1,458,789 418,784 106,752 Gaming taxes (3) 784,089 497,265 75,574 189,593 21,021 Adjusted Property EBITDAR (4) $ 615,846 $ 338,091 $ 946,243 $ 257,409 $ (42,646) $ 2,114,943 Other operating expenses Pre-opening 9,468 Depreciation and amortization 687,270 Impairment of goodwill and intangible assets 94,490 Property charges and other (5) 130,877 Corporate expense and other 146,430 Stock-based compensation 64,515 Triple-net operating lease expense 141,722 Total other operating expenses 1,274,772 Operating income 840,171 Other non-operating income and expenses Interest income 175,785 Interest expense, net of amounts capitalized (751,509) Change in derivatives fair value 45,098 Loss on debt financing transactions (12,683) Other (11,479) Total other non-operating income and expenses (554,788) Income before income taxes 285,383 Benefit for income taxes 496,834 Net income 782,217 Net loss attributable to noncontrolling interests (52,223) Net income attributable to Wynn Resorts, Limited $ 729,994 Year Ended December 31, 2022 Wynn Palace Wynn Macau Las Vegas Operations Encore Boston Harbor Corporate and Other Total Operating revenues Casino $ 255,886 $ 216,639 $ 535,279 $ 624,738 $ — $ 1,632,541 Rooms 40,079 25,691 651,291 85,078 — 802,138 Food and beverage 35,546 25,334 702,515 82,818 — 846,214 Entertainment, retail and other (1) 78,778 43,585 243,051 38,439 72,078 475,932 Total operating revenues 410,289 311,249 2,132,136 831,073 72,078 3,756,825 Cost of revenue (2) 365,064 319,443 1,265,818 405,413 148,233 Gaming taxes (3) 141,782 115,853 65,223 182,274 22,335 Adjusted Property EBITDAR (4) $ (96,557) $ (124,047) $ 801,095 $ 243,386 $ (98,490) $ 725,387 Other operating expenses Pre-opening 20,643 Depreciation and amortization 692,318 Gain on EBH Transactions, net (181,989) Impairment of goodwill and intangible assets 48,036 Property charges and other 65,116 Corporate expense and other 102,539 Stock-based compensation 67,627 Triple-net operating lease expense 11,773 Total other operating expenses 826,063 Operating loss (100,676) Other non-operating income and expenses Interest income 29,758 Interest expense, net of amounts capitalized (650,885) Change in derivatives fair value 15,956 Loss on debt financing transactions — Other 5,811 Total other non-operating income and expenses (599,360) Loss before income taxes (700,036) Provision for income taxes (9,332) Net loss (709,368) Net income attributable to noncontrolling interests 285,512 Net loss attributable to Wynn Resorts, Limited $ (423,856) (1) Except for Corporate and other, includes lease revenue accounted for under lease accounting guidance. For more information on leases, see Note 16, "Leases". (2) Primarily comprised of payroll, cost of goods sold, marketing, promotional, facilities, taxes and licenses (excluding gaming taxes) and other operating expenses. (3) For Las Vegas Operations, includes table and slot license fees. (4) "Adjusted Property EBITDAR" is net income (loss) before interest, income taxes, depreciation and amortization, pre-opening expenses, gain on EBH Transaction, net, impairment of goodwill and intangible assets, property charges and other expenses, triple-net operating lease rent expense related to Encore Boston Harbor, management and license fees, corporate expenses and other expenses (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on debt financing transactions, and other non-operating income and expenses. Adjusted Property EBITDAR 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 EBITDAR 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. The Company also presents Adjusted Property EBITDAR 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 EBITDAR 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 EBITDAR calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDAR should not be considered as an alternative to operating income (loss) as an indicator of the Company's 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 (loss), Adjusted Property EBITDAR does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. The Company has significant uses of cash flows, including capital expenditures, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, the Company's calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited. (5) For the year ended December 31, 2024, includes $130.0 million of forfeitures pursuant to the NPA, the Company's $9.4 million contribution towards a legal settlement, $16.9 million of contract termination and other costs related to the closure of Wynn Interactive's digital sports betting and casino gaming business. Property charges and other expenses for the year ended December 31, 2024 also included $61.5 million of expensed project costs related to a discontinued development project, partially offset by a gain of $24.6 million related to the sale of certain Wynn Interactive assets. For the year ended December 31, 2023, includes $94.9 million related to the Company's decision to cease operating Wynn Interactive's online sports betting and iGaming platform in certain jurisdictions.
Assets and Capital Expenditures by Segment	Year Ended December 31, 2024 2023 2022 Capital expenditures Macau Operations: Wynn Palace $ 107,458 $ 66,262 $ 31,946 Wynn Macau 57,669 25,602 13,003 Total Macau Operations 165,127 91,864 44,949 Las Vegas Operations 159,789 187,150 226,386 Encore Boston Harbor 32,652 70,578 20,187 Corporate and other 62,361 93,201 8,605 Total $ 419,929 $ 442,793 $ 300,127 December 31, 2024 2023 2022 Assets Macau Operations: Wynn Palace $ 2,813,190 $ 2,936,264 $ 2,884,073 Wynn Macau 1,412,795 1,864,211 1,430,051 Other Macau 778,928 886,175 268,017 Total Macau Operations 5,004,913 5,686,650 4,582,141 Las Vegas Operations 3,157,399 3,173,247 3,168,597 Encore Boston Harbor 1,980,420 2,006,565 2,080,424 Corporate and other 2,835,231 3,129,761 3,583,938 Total $ 12,977,963 $ 13,996,223 $ 13,415,100
Long-lived Assets by Geographic Area	December 31, 2024 2023 2022 Long-lived assets Macau $ 3,095,411 $ 3,191,134 $ 3,382,284 United States 6,019,723 5,585,943 5,570,249 Total $ 9,115,134 $ 8,777,077 $ 8,952,533

Organization and Business (Deta

Organization and Business (Details) $ in Thousands		12 Months Ended
	Dec. 01, 2022 USD ($)	Dec. 31, 2024 USD ($) ft² facility restaurant room tower showroom	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Organization Consolidation And Presentation Of Financial Statements Disclosure
Proceeds from EBH Transaction | $	$ 1,700,000	$ 0	$ 0	$ 1,700,000
Macau Operations | Wynn Palace
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel | room		1,706
Number of restaurants | restaurant		14
Macau Operations | Wynn Palace | Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		468,000
Macau Operations | Wynn Palace | Meeting and Convention
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		37,000
Macau Operations | Wynn Palace | Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		107,000
Macau Operations | Wynn Macau
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel | room		1,010
Number of restaurants | restaurant		12
Number of hotel towers | tower		2
Macau Operations | Wynn Macau | Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		294,000
Macau Operations | Wynn Macau | Meeting and Convention
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		31,000
Macau Operations | Wynn Macau | Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		64,500
Las Vegas Operations | Wynn Las Vegas
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel | room		4,748
Number of restaurants | restaurant		34
Number of hotel towers | tower		2
Number of theaters | showroom		2
Number of nightclubs | facility		2
Las Vegas Operations | Wynn Las Vegas | Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		195,000
Las Vegas Operations | Wynn Las Vegas | Meeting and Convention
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		513,000
Las Vegas Operations | Wynn Las Vegas | Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		178,000
Encore Boston Harbor
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel | room		671
Number of restaurants | restaurant		16
Proceeds from EBH Transaction | $	$ 1,700,000
Encore Boston Harbor | Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		210,000
Encore Boston Harbor | Meeting and Convention
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		71,000
Encore Boston Harbor | Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional area square footage		8,186
Wynn Palace and Wynn Macau
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		72%
Wynn Las Vegas
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		100%
Retail Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		50.10%
Retail Joint Venture | Las Vegas Operations | Wynn Las Vegas
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		50.10%
Island 3 AMI FZ-LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		40%

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) ft² in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Summary of Significant Accounting Policies
Fixed deposits		$ 550,000,000
Investment securities, amortized cost		295,200,000
Investment securities, fair value		294,800,000
Investment securities, unrecognized holding loss		400,000
Investment securities, accrued interest		8,700,000
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Investments
Interest expense	$ 23,000,000	5,800,000	$ 0
Interest expense, equity method investments	21,700,000	3,600,000
Equity method investments	648,200,000	90,900,000
Income (loss) from equity method investments	6,100,000	2,400,000
Amortization of debt issuance costs	$ 39,300,000	39,500,000	29,400,000
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag	false
Gaming tax expenses	$ 1,830,000,000	1,570,000,000	526,300,000
Total advertising costs	$ 50,900,000	$ 112,600,000	$ 148,600,000
Minimum
Summary of Significant Accounting Policies
Terms of lease contracts	5 years
Maximum
Summary of Significant Accounting Policies
Terms of lease contracts	10 years
Wynn Palace
Summary of Significant Accounting Policies
Square footage of non-cancelable operating leases | ft²	102
Wynn Macau
Summary of Significant Accounting Policies
Square footage of non-cancelable operating leases | ft²	63
Wynn Las Vegas
Summary of Significant Accounting Policies
Square footage of non-cancelable operating leases | ft²	187
Encore Boston Harbor
Summary of Significant Accounting Policies
Square footage of non-cancelable operating leases | ft²	52

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	Dec. 31, 2024
Buildings and Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	10 years
Buildings and Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	45 years
Land Improvements [Member] | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	10 years
Land Improvements [Member] | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	45 years
Leasehold Interest in Land
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	25 years
Airplanes
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	20 years
Furniture, Fixtures and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	3 years
Furniture, Fixtures and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	20 years

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Text Block [Abstract]
Proceeds from Maturities, Prepayments and Calls of Held-to-Maturity Securities	$ 300,000
Proceeds from Sale and Maturity of Other Investments	$ 550,000
Fixed deposits		$ 550,000
Investment securities, amortized cost		295,200
Investment securities, fair value		294,800
Investment securities, unrecognized holding loss		400
Investment securities, accrued interest		$ 8,700
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Investments

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash	$ 1,639,151	$ 1,076,474
Cash equivalents	787,004	1,802,712
Total cash and cash equivalents	2,426,155	2,879,186
Restricted cash	95,638	90,226
Total cash, cash equivalents and restricted cash	2,521,793	2,969,412	$ 3,782,990	$ 2,531,067
Restricted cash, bank guarantee	$ 87,500	$ 87,000

Cash, Cash Equivalents and Re_4

Cash, Cash Equivalents and Restricted Cash - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash paid for interest, net of amounts capitalized	$ 658,438	$ 688,350	$ 618,395
Capitalized stock-based compensation	5,242	5,268	3,246
Cash paid for income taxes	10,160	10,310	5,290
Finance lease liabilities arising from obtaining finance lease assets	80,021	8,842	5,906
Liability settled with shares of common stock	8,015	6,639	9,287
Accounts and construction payables related to property and equipment	85,949	60,313	64,861
Other liabilities related to intangible assets	0	209,410	4,220
Net settlement of liabilities in connection with an asset sale	$ 27,655	0	$ 0
Intangible Assets, Other Liabilities Incurred, Gaming Premium		$ 206,500

Receivables, net - Additional I

Receivables, net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 361,710	$ 381,787
Less: allowance for doubtful accounts	(37,694)	(40,075)
Receivables, net	$ 324,016	$ 341,712
Geographic Concentration Risk | Receivables | Outside the United States, primarily Asia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of markers due from customers	70.90%	68.20%
Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 236,642	$ 218,694
Allowance for credit losses, percent of gross casino receivables	14.70%	15.90%
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 45,996	$ 54,596
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 79,072	$ 108,497

Receivables, net - Schedule of

Receivables, net - Schedule of Movement in Allowance for Credit Losses Recognized for Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of year	$ 40,075	$ 78,842
Provision for credit losses	4,986	(3,964)	$ (7,295)
Write-offs	(13,262)	(47,611)
Recoveries of receivables previously written-off	5,801	12,897
Effect of exchange rate	94	(89)
Balance at end of period	$ 37,694	$ 40,075	$ 78,842

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Buildings and improvements	$ 8,547,922	$ 8,459,085
Land and improvements	1,210,455	1,228,652
Furniture, fixtures and equipment	3,424,361	3,311,478
Airplanes	110,623	110,623
Construction in progress	287,436	162,592
Property and equipment, gross	13,580,797	13,272,430
Less: accumulated depreciation	(7,059,514)	(6,583,951)
Property and equipment, net	$ 6,521,283	$ 6,688,479

Property and Equipment, net Pro

Property and Equipment, net Property and Equipment, net - Narrative (Details) $ in Thousands, MOP$ in Millions		3 Months Ended	12 Months Ended
	Dec. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 MOP (MOP$)	Dec. 31, 2023 MOP (MOP$)
Property, Plant and Equipment [Line Items]
Depreciation			$ 601,400	$ 625,000	$ 652,100
Proceeds from EBH Transaction	$ 1,700,000		0	0	1,700,000
Gain on EBH Transaction, net			0	0	$ 181,989
Other commitment			580,213
Scenario One | Property Transfer Agreement | Wynn Macau SA
Property, Plant and Equipment [Line Items]
Other commitment				$ 6,600			MOP$ 53.1
Scenario Two | Property Transfer Agreement | Wynn Macau SA
Property, Plant and Equipment [Line Items]
Other commitment			22,100			MOP$ 177.0
Construction in Progress
Property, Plant and Equipment [Line Items]
Capitalized Project Costs, Expense			61,500
Capitalized Project Costs, Expense, Overhead			$ 4,700
Encore Boston Harbor
Property, Plant and Equipment [Line Items]
Proceeds from EBH Transaction	$ 1,700,000
Gain on EBH Transaction, net		$ 182,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Intangible Assets
Finite-lived intangible assets, net	$ 246,202	$ 302,848
Indefinite-lived intangible assets	8,397	8,397
Goodwill:
Balance at beginning of year	18,463	90,520
Impairment	0	72,057
Balance end of period	18,463	18,463
Total intangible assets, net	273,062	329,708
Betbull Acquisition
Goodwill:
Impairment		37,800
Macau Gaming Concession
Intangible Assets
Finite-lived intangible assets, gross	210,630	209,199
Less: accumulated amortization	(42,126)	(20,920)
Finite-lived intangible assets, net	168,504	188,279
Massachusetts Gaming License
Intangible Assets
Finite-lived intangible assets, gross	117,700	117,700
Less: accumulated amortization	(43,331)	(35,484)
Finite-lived intangible assets, net	74,369	82,216
Other
Intangible Assets
Finite-lived intangible assets, gross	5,400	50,154
Less: accumulated amortization	(2,071)	(17,801)
Finite-lived intangible assets, net	3,329	32,353
Water rights and other
Intangible Assets
Indefinite-lived intangible assets	$ 8,397	$ 8,397

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, net - Additional Information (Details) $ in Thousands, MOP$ in Millions		12 Months Ended
	Jan. 01, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022	Jan. 01, 2023 MOP (MOP$)
Finite-Lived Intangible Assets [Line Items]
Impairment		$ 0	$ 72,057
Impairment of intangible sssets			22,400
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]				Impairment of goodwill and intangible assets
Expected amortization, 2024 to 2032	$ 21,100
Gain (Loss) on Disposition of Assets		24,600
2025		328,603
2026		65,906
2027		42,341
2028		34,726
2029		29,764
Thereafter		78,873
Market Access Rights and Gaming License Fees
Finite-Lived Intangible Assets [Line Items]
Gain (Loss) on Disposition of Assets		24,600
Fixed And Variable Premium Payments, Gaming Concession Contract
Finite-Lived Intangible Assets [Line Items]
2025		14,600
2026		14,600
2027		14,600
2028		14,600
2029		14,600
Thereafter		$ 44,700
Wynn Macau SA
Finite-Lived Intangible Assets [Line Items]
Financial liability related to gaming concession	$ 208,300				MOP$ 1680
Wynn Macau SA | Macau Gaming and Non-Gaming Investments
Finite-Lived Intangible Assets [Line Items]
Other commitment, term	10 years	10 years
Betbull Acquisition
Finite-Lived Intangible Assets [Line Items]
Impairment			37,800
Impairment of intangible sssets			$ 10,300
Massachusetts Gaming License
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life, years		15 years
Expected amortization of associated intangible assets, each year 2021-2033		$ 7,800
Expected amortization of associated intangible assets, 2034		$ 3,700

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($)	Dec. 31, 2024	Oct. 31, 2024	Mar. 31, 2024	Feb. 29, 2024	Dec. 31, 2023	Feb. 16, 2023	Jul. 25, 2018	May 11, 2017	Feb. 18, 2015
Debt Instrument [Line Items]
Long-term debt, gross	$ 10,644,999,000				$ 11,826,986,000
WML Convertible Bond Conversion Option Derivative	33,007,000				73,744,000
Less: Unamortized debt issuance costs and original issue discounts and premium, net	(136,272,000)				(162,393,000)
Long-term debt total	10,541,734,000				11,738,337,000
Less: Current portion of long-term debt	(41,250,000)				(709,593,000)
Total long-term debt, net of current portion	10,500,484,000				11,028,744,000
WLV 5 1/2% Senior Notes, due 2025(2) | Senior Notes
Debt Instrument [Line Items]
Long-term debt total		$ 16,700,000	$ 3,300,000
WM Cayman II | WM Cayman II Revolver, due 2025 | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	1,151,874,000				1,497,610,000
WML | WML 4 7/8% Senior Notes, due 2024(2) | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 0				600,000,000
Debt instrument, interest rate	4.875%
WML | WML 5 1/2% Senior Notes, due 2026 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000,000,000				1,000,000,000
Debt instrument, interest rate	5.50%
WML | WML 5 1/2% Senior Notes, due 2027 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 750,000,000				750,000,000
Debt instrument, interest rate	5.50%
WML | WML 5 5/8% Senior Notes, due 2028 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,350,000,000				1,350,000,000
Debt instrument, interest rate	5.125%
WML | WML 5 1/8% Senior Notes, due 2029 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000,000,000				1,000,000,000
Debt instrument, interest rate	5.625%
WML | WML 4 1/2% Convertible Bonds, due 2029 | Convertible Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000,000				600,000,000
Less: Unamortized debt issuance costs and original issue discounts and premium, net	(101,600,000)
Long-term debt total	$ 498,400,000
Debt instrument, interest rate	4.50%
WRF | WRF Term Loan, due 2024 | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 0				73,683,000
WRF | WRF Term Loan, due 2027 | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross	763,125,000				730,692,000
WRF | WRF 5 1/8% Senior Notes, due 2029 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 750,000,000				750,000,000
Debt instrument, interest rate	5.125%
WRF | WRF 7 1/8% Senior Notes, due 2031 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000,000,000				600,000,000	$ 596,200,000
Long-term debt total				$ 409,500,000
Debt instrument, interest rate	7.125%
WRF | 6 1/4% Senior Notes, due 2033 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 800,000,000				0
WLV | WLV 5 1/2% Senior Notes, due 2025(2) | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 0				1,380,001,000
Debt instrument, interest rate	5.50%								5.50%
WLV | WLV 5 1/4% Senior Notes, due 2027 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 880,000,000				880,000,000
Debt instrument, interest rate	5.25%							5.25%
Retail Term Loan, due 2025 | Retail Term Loan, due 2025 | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000,000				$ 615,000,000		$ 615,000,000

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt - Additional Information (Details) - USD ($)			12 Months Ended
	Oct. 02, 2024	Sep. 20, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 25, 2018
Debt Instrument [Line Items]
Long-term debt, gross			$ 10,644,999,000	$ 11,826,986,000
Long-term debt			10,541,734,000	11,738,337,000
Unamortized debt issuance costs and original issue discounts and premium, net			136,272,000	162,393,000
Interest expense			23,000,000	5,800,000	$ 0
Letter of credit outstanding			$ 14,700,000
Secured Debt | Secured Overnight Financing Rate (SOFR) | WRF
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | WM Cayman II
Debt Instrument [Line Items]
Basis spread on variable rate			0.10%
Long-term debt, gross			$ 1,151,874,000	$ 1,497,610,000
Debt, weighted average interest rate			6.43%	7.20%
Availability of credit facility			$ 353,800,000
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | WM Cayman II
Debt Instrument [Line Items]
Basis spread on variable rate			1.975%
Long-term debt, gross			$ 239,100,000
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | HIBOR | WM Cayman II
Debt Instrument [Line Items]
Basis spread on variable rate			1.875%
Long-term debt, gross			$ 912,800,000
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | HIBOR or LIBOR | WM Cayman II | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.875%
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | HIBOR or LIBOR | WM Cayman II | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			2.875%
WML 4 1/2% Convertible Bonds, due 2029 | Convertible Debt | WML
Debt Instrument [Line Items]
Long-term debt, gross			$ 600,000,000	$ 600,000,000
Long-term debt			498,400,000
Unamortized debt issuance costs and original issue discounts and premium, net			101,600,000
Interest expense			27,000,000	22,100,000
Amortization of debt issuance costs and discounts			$ 18,900,000	$ 14,200,000
WRF Credit Facilities | Secured Overnight Financing Rate (SOFR) | WRF
Debt Instrument [Line Items]
Debt, weighted average interest rate			6.21%	7.21%
WRF Revolver | Revolving Credit Facility | WRF
Debt Instrument [Line Items]
Availability of credit facility			$ 735,300,000
Letter of credit outstanding			14,700,000
WRF Revolver | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | WRF
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Retail Term Loan, Due 2025 | Medium-Term Note | Retail Term Loan, due 2025
Debt Instrument [Line Items]
Long-term debt, gross			$ 600,000,000	$ 615,000,000		$ 615,000,000
Retail Term Loan, Due 2025 | Medium-Term Note | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate			2.15%
Interest rate during period on debt			5.54%	5.47%
Retail Term Loan, Due 2025 | Medium-Term Note | Secured Overnight Financing Rate (SOFR) | Retail Term Loan, due 2025
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%			1.80%

Long-Term Debt - WM Cayman II R

Long-Term Debt - WM Cayman II Revolver (Details) $ in Millions		12 Months Ended
	Jun. 27, 2023	Dec. 31, 2024	Sep. 20, 2024 USD ($)	Sep. 16, 2021 USD ($)	Sep. 16, 2021 HKD ($)
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | WM Cayman II
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 1,500,000,000
Line of credit, additional borrowing capacity				1,000,000,000
Basis spread on variable rate		0.10%
Debt issuance costs			$ 19,200,000
WM Cayman II Revolver, due 2025 | Revolving Credit Facility | WM Cayman II | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.975%
WM Cayman II Revolver, due 2025 | Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, floor rate	0%
WM Cayman II Revolver, due 2025 | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Debt instrument, adjustment rate	0.10%
WM Cayman II Revolver, due 2025, Tranche 1 | Revolving Credit Facility | WM Cayman II
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				312,500,000
WM Cayman II Revolver, due 2025, Tranche 2 | Revolving Credit Facility | WM Cayman II
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 1,190,000,000	$ 9,260
WM Cayman II Revolver, due 2025, Tranche One | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.875%
WM Cayman II Revolver, due 2025, Tranche One | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.875%
WM Cayman II Revolver, due 2025, Tranche Two | Line of Credit | Revolving Credit Facility | Hong Kong Interbank Offered Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.875%
WM Cayman II Revolver, due 2025, Tranche Two | Line of Credit | Revolving Credit Facility | Hong Kong Interbank Offered Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.875%

Long-Term Debt - WML Convertibl

Long-Term Debt - WML Convertible Bonds (Details)	Mar. 07, 2023 USD ($) $ / shares	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2024 $ / shares	Dec. 31, 2023 USD ($)	Mar. 07, 2023 $ / shares
Debt Instrument [Line Items]
Derivative liability		$ 33,007,000		$ 73,744,000
WML Convertible Bonds | Convertible Debt | WML
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount	$ 600,000,000
Debt instrument, interest rate	4.50%
Share price (in dollars per share) | $ / shares					$ 0.001
Conversion price (in dollars per share) | (per share)	$ 1.32	$ 1.29	$ 10.01		$ 10.24
Conversion ratio	7.8497
Derivative liability		$ 33,000,000		$ 73,700,000

Long-Term Debt - WML Senior Not

Long-Term Debt - WML Senior Notes (Details) - Senior Notes - WML - USD ($) $ in Thousands		12 Months Ended
	Oct. 01, 2024	Dec. 31, 2024
2027 and 2028 WML Senior Notes | Redemption period one
Debt Instrument [Line Items]
Minimum number of consecutive days		10 days
Debt redemption price as percentage of principal		100%
WML 5 5/8% Senior Notes, due 2028 | Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal		101%
WML 4 7/8% Senior Notes, due 2024(2)
Debt Instrument [Line Items]
Extinguishment of Debt, Amount	$ 600,000

Long-Term Debt - WRF Credit Fac

Long-Term Debt - WRF Credit Facilities (Details) - USD ($)	Sep. 16, 2024	Sep. 20, 2019	Sep. 30, 2024	May 17, 2023	May 16, 2023
WRF
Debt Instrument [Line Items]
Maximum consolidated senior secured net leverage ratio		3.75
Secured Debt | WRF
Debt Instrument [Line Items]
Line of Credit Facility, Borrowing Capacity Extended	$ 71,800,000
WRF Term Loan, due 2024 | Secured Debt | WRF
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 1,000,000,000
Basis spread on variable rate		1.75%
Required quarterly payments		$ 10,300,000
WRF Revolver | Revolving Credit Facility | WRF
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 850,000,000
Fee required for unborrowed amounts, percentage per annum		0.25%
Line of Credit Facility, Borrowing Capacity Extended	68,700,000
WRF Credit Facility Agreement | Secured Debt
Debt Instrument [Line Items]
Commitment extended				$ 749,400,000
Commitment not extended				75,600,000
WRF Credit Facility Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity, limit decrease				100,000,000
Credit facility, maximum borrowing capacity				750,000,000	$ 850,000,000
Commitment extended				681,300,000
Commitment not extended				$ 68,700,000
WRF Credit Facility Agreement Amendment | Secured Debt | WRF
Debt Instrument [Line Items]
Loss on restructuring of debt	$ 100,000
Debt issuance costs			$ 500,000

Long-Term Debt - WRF Senior Not

Long-Term Debt - WRF Senior Notes (Details) - USD ($)	1 Months Ended			2 Months Ended	12 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Feb. 29, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Feb. 16, 2023	Apr. 14, 2020	Feb. 18, 2015
Debt Instrument [Line Items]
Long-term debt, gross					$ 10,644,999,000	$ 11,826,986,000
Long-term debt					10,541,734,000	11,738,337,000
WRF 5 1/8% Senior Notes, due 2029 | Senior Notes | WRF
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount								$ 750,000,000
Long-term debt, gross					$ 750,000,000	750,000,000
Debt instrument, interest rate					5.125%
WRF 7 1/8% Senior Notes, due 2031 | Senior Notes | WRF
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount			$ 400,000,000				$ 600,000,000
Long-term debt, gross					$ 1,000,000,000	600,000,000	$ 596,200,000
Debt redemption price as percentage of principal			103%
Long-term debt			$ 409,500,000
Debt instrument, interest rate					7.125%
WLV 5 1/2% Senior Notes, due 2025(2) | Senior Notes
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100%			100%
Long-term debt	$ 16,700,000			$ 3,300,000
WLV 5 1/2% Senior Notes, due 2025(2) | Senior Notes | WLV
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount									$ 1,800,000,000
Long-term debt, gross					$ 0	1,380,001,000
Repayments of debt			$ 796,700,000
Debt instrument, interest rate					5.50%				5.50%
WRF 2031 Senior Notes and WLV 2025 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Loss on restructuring of debt					$ 1,600,000
Debt issuance costs					5,600,000
6 1/4% Senior Notes, due 2033 | Senior Notes | WRF
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 800,000,000
Long-term debt, gross					800,000,000	$ 0
Loss on restructuring of debt					1,100,000
Debt issuance costs					$ 8,200,000
Proceeds from Issuance of Senior Long-Term Debt		795,000,000
Payments of Financing Costs		$ 5,000,000
Seven And Three Over Four Percentage WRF Senior Notes Due 2025 [Member] | Senior Notes | WRF
Debt Instrument [Line Items]
Debt instrument, interest rate								7.75%

Long-Term Debt - WLV Senior Not

Long-Term Debt - WLV Senior Notes (Details) - USD ($)	1 Months Ended	2 Months Ended	12 Months Ended
	Oct. 31, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2018	May 11, 2017	Feb. 18, 2015
Debt Instrument [Line Items]
Long-term debt			$ 10,541,734,000	$ 11,738,337,000
Senior Notes | WLV 5 1/2% Senior Notes, due 2025(2)
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100%	100%
Debt instrument, early tender premium		$ 20,300,000
Principal amount purchased	$ 600,000,000	800,000,000
Long-term debt	$ 16,700,000	$ 3,300,000
Senior Notes | WLV 5 1/2% Senior Notes, due 2025(2) | Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal		97.20%
Principal amount purchased		$ 681,000,000
Senior Notes | WLV 5 1/2% Senior Notes, due 2025(2) | Redemption period two
Debt Instrument [Line Items]
Principal amount purchased		$ 119,000,000
Senior Notes | WRF Credit Facilities | Subsidiary Issuer
Debt Instrument [Line Items]
Debt covenant, percentage of total assets			15%
WLV | Senior Notes
Debt Instrument [Line Items]
Payment default classification period for interest payment			30 days
WLV | Senior Notes | WLV 5 1/2% Senior Notes, due 2025(2)
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount							$ 1,800,000,000
Debt instrument, interest rate			5.50%				5.50%
Principal amount purchased					$ 20,000,000
WLV | Senior Notes | WLV 5 1/4% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount						$ 900,000,000
Debt instrument, interest rate			5.25%			5.25%
Principal amount purchased					$ 20,000,000

Long-Term Debt - Retail Term Lo

Long-Term Debt - Retail Term Loan (Details) - USD ($)			12 Months Ended
	Oct. 02, 2024	Jul. 25, 2018	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 31, 2024	Jun. 02, 2023	Jul. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross			$ 10,644,999,000	$ 11,826,986,000
Proceeds from Issuance of Long-term Debt			1,883,794,000	1,200,000,000	$ 211,435,000
Derivative liability			33,007,000	73,744,000
Interest Rate Collar
Debt Instrument [Line Items]
Interest rate swap notional amount						$ 600,000,000		$ 615,000,000
Derivative liability			7,500,000	5,800,000
Fair value of interest rate collar liability recorded in Other accrued liabilities				3,900,000
Fair value of interest rate collar liability recorded in Other long-term liabilities				3,600,000
Interest rate swap fixed interest rate						3.385%
Retail Term Loan, Due 2025 | Medium-Term Note | Retail Term Loan, due 2025
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount							$ 615,000,000
Long-term debt, gross		$ 615,000,000	600,000,000	$ 615,000,000
Proceeds from Issuance of Long-term Debt		$ 589,000,000
Required quarterly payments	$ 15,000,000
Loss on restructuring of debt			100,000
Debt issuance costs			$ 2,400,000

Long-Term Debt - Scheduled Matu

Long-Term Debt - Scheduled Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 41,250
2026	1,041,250
2027	2,910,625
2028	2,501,874
2029	2,350,000
Thereafter	1,800,000
Long-term debt, gross	10,644,999	$ 11,826,986
WML Convertible Bond Conversion Option Derivative	33,007	73,744
Unamortized debt issuance costs and original issue discounts and premium, net	(136,272)
Long-term debt total	$ 10,541,734	$ 11,738,337

Long-Term Debt - Fair Value of

Long-Term Debt - Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Fair value of debt instrument excluding the Redemption Note	$ 10,460	$ 11,490
Long-term debt excluding the Redemption Note	$ 10,640	$ 11,830

WML Convertible Bond Conversi_3

WML Convertible Bond Conversion Option Derivative - Valuation Techniques for Embedded Derivative (Details)	Dec. 31, 2024	Mar. 02, 2023
WML stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	5.39	6.43
Estimated volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.312	0.340
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.036	0.033
Expected term (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	4.2	5.2
Dividend yield (1)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0	0

WML Convertible Bond Conversi_4

WML Convertible Bond Conversion Option Derivative - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Mar. 07, 2023
Derivative [Line Items]
WML Convertible Bond Conversion Option Derivative	$ 33,007	$ 73,744
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Long-term debt
Loss on embedded derivative	$ 40,700	49,700
WML Convertible Bonds | Convertible Debt | WML
Derivative [Line Items]
Unamortized discount			$ 123,500
WML Convertible Bond Conversion Option Derivative	$ 33,000	$ 73,700

Stockholders' Deficit (Details)

Stockholders' Deficit (Details)					3 Months Ended						12 Months Ended
	Sep. 12, 2024 USD ($)	Sep. 12, 2024 $ / shares	Jun. 19, 2024 USD ($)	Jun. 19, 2024 $ / shares	Sep. 30, 2024 USD ($) $ / shares	Jun. 30, 2024 USD ($) $ / shares	Mar. 31, 2024 $ / shares	Sep. 30, 2023 $ / shares	Jun. 30, 2023 $ / shares	Mar. 31, 2023 $ / shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)	Feb. 13, 2025 $ / shares	Nov. 30, 2024 USD ($)	May 10, 2023 shares	Apr. 03, 2023 shares	Mar. 06, 2023 shares	Mar. 02, 2023 shares
Equity, Class of Treasury Stock
Net cost for common stock purchased											$ 405,281,000	$ 212,454,000	$ 187,499,000
Dividend paid (in dollars per share) | $ / shares					$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25
Cash dividends											139,894,000	85,139,000
Decrease from distributions to noncontrolling interest											$ 16,988,000	$ 22,578,000	$ 27,744,000
Common stock, shares authorized (in shares) | shares											400,000,000	400,000,000
Common stock, shares issued (in shares) | shares											133,584,126	132,998,916
Common stock, shares outstanding (in shares) | shares											107,821,567	111,737,245
WML
Equity, Class of Treasury Stock
Company's share of dividend	$ 36,100,000		$ 36,000,000
Decrease from distributions to noncontrolling interest					$ 14,400,000	$ 14,400,000
WM Cayman I | Goldman Sachs International | Securities Lending Agreement
Equity, Class of Treasury Stock
Common stock, shares authorized (in shares) | shares																			459,774,985
Common stock, shares issued (in shares) | shares																		459,774,985
Common stock, returned (in shares) | shares																	280,000,000
Common stock, shares outstanding (in shares) | shares																179,774,985
Subsidiaries | WML
Equity, Class of Treasury Stock
Dividend paid (in dollars per share) | $ / shares		$ 0.075		$ 0.075
Cash dividends	$ 50,500,000		$ 50,400,000
Wynn Palace and Wynn Macau
Equity, Class of Treasury Stock
Percentage of ownership											72%
Subsequent Event
Equity, Class of Treasury Stock
Dividends payable (in dollars per share) | $ / shares														$ 0.25
Accumulated deficit
Equity, Class of Treasury Stock
Cash dividends											$ 111,115,000	$ 85,139,000
O 2024 Q4 Dividends | Accumulated deficit
Equity, Class of Treasury Stock
Cash dividends declared, recorded as reduction of retained earnings											$ 111,100,000
O 2023 Q4 Dividends | Accumulated deficit
Equity, Class of Treasury Stock
Cash dividends declared, recorded as reduction of retained earnings												$ 85,100,000
April 2016 Equity Repurchase Program
Equity, Class of Treasury Stock
Authorized amount under repurchase program															$ 1,000,000,000
Stock repurchases (in shares) | shares											4,349,779	2,206,573
Stock repurchases (in dollars per share) | $ / shares											$ 88.75	$ 88.61
Net cost for common stock purchased											$ 386,000,000	$ 195,500,000
Repurchase authority remaining under the program											$ 813,000,000
Stock Repurchase Program, Additional Authorized Amount															$ 766,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Cash equivalents	$ 787,004	$ 1,802,712
Restricted cash	95,638	90,226
Fixed deposits		550,000
Liabilities:
Derivative liability	33,007	73,744
Fair Value, Measurements, Recurring
Assets:
Cash equivalents	787,004	1,802,712
Restricted cash	95,638	90,226
Fixed deposits		550,000
Interest rate swap	7,510	5,769
Liabilities:
Derivative liability	33,007	73,744
Fair Value, Measurements, Recurring | Quoted Market Prices in Active Markets (Level 1)
Assets:
Cash equivalents	0	0
Restricted cash	6,434	2,170
Fixed deposits		0
Interest rate swap	0	0
Liabilities:
Derivative liability	0	0
Fair Value, Measurements, Recurring | Other Observable Inputs (Level 2)
Assets:
Cash equivalents	787,004	1,802,712
Restricted cash	89,204	88,056
Fixed deposits		550,000
Interest rate swap	7,510	5,769
Liabilities:
Derivative liability	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Assets:
Cash equivalents	0	0
Restricted cash	0	0
Fixed deposits		0
Interest rate swap	$ 0	0
Liabilities:
Derivative liability		$ 73,744

Benefit Plans - Defined Contrib

Benefit Plans - Defined Contribution Plan (Details) - United States - USD ($) $ in Millions		12 Months Ended
	Jul. 01, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan Disclosure
Company's matching contribution percentage		50%
Matching contribution expenses		$ 9.6	$ 10.2	$ 8.7
Maximum
Defined Contribution Plan Disclosure
Employer matching contributions, percentage of eligible compensation		6%
Wynn Macau
Defined Contribution Plan Disclosure
Matching contribution expenses		$ 17.1	$ 16.3	$ 17
Wynn Macau | Wynn Macau Plan
Defined Contribution Plan Disclosure
Employee contribution percentage		5%
Wynn Macau | CPF System
Defined Contribution Plan Disclosure
Employer matching contributions, percentage of eligible compensation	5%
Minimum employee contribution percentage	5%
Annual vesting percentage	10%
Vesting period	10 years

Benefit Plans - MultiEmployer P

Benefit Plans - MultiEmployer Plan (Details) - Multi-employer Pension Plan - United States - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Southern Nevada Culinary and Bartenders Pension Plan
Multiemployer Plan [Line Items]
Multi-employer plan, period contributions	$ 17,272	$ 15,849	$ 13,462
Western Conference of Teamsters Pension Trust Fund
Multiemployer Plan [Line Items]
Multi-employer plan, period contributions	285	226	72
UNITE HERE! Workers and Hospitality Employers Variable Defined Benefit Pension Fund
Multiemployer Plan [Line Items]
Multi-employer plan, period contributions	3,955	0	0
New England Teamster Pension Fund
Multiemployer Plan [Line Items]
Multi-employer plan, period contributions	$ 516	$ 0	$ 0

Customer Contract Liabilities_2

Customer Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue Recognition [Abstract]
Casino outstanding chips and front money deposits	$ 409,928	$ 433,269	$ 390,531
Change in outstanding chips and front money deposits	(23,341)	42,738
Advanced room deposits and ticket sales	84,460	89,640	85,019
Change in advanced room deposits and ticket sales	(5,180)	4,621
Other gaming related liabilities	15,458	24,964	31,265
Change in other gaming related liabilities	(9,506)	(6,301)
Loyalty program liabilities	29,489	31,106	35,083
Change in loyalty program liabilities	(1,617)	(3,977)
Total customer contract liabilities	539,335	578,979	$ 541,898
Change in total customer contract liabilities	$ (39,644)	$ 37,081

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended				12 Months Ended
	May 25, 2023	May 16, 2014	May 31, 2024	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Stock based compensation costs							$ 64,271	$ 69,783	$ 70,873
Tax benefit from compensation expense							9,900	10,000	9,300
Tax benefits (loss) realized from option exercises							$ 5,800	$ 7,500	8,900
Tranche One
Share-based Compensation Arrangement by Share-based Payment Award
Performance period							1 year
Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award
Performance period							2 years
Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award
Performance period							3 years
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period							3 years
Risk-free interest rate							4.10%	3.80%
Expected volatility							45%	55%
Stock based compensation costs							$ 7,800	$ 8,000	$ 6,600
Vested shares issued (in shares)				94,350	84,130	67,320	25,885
Weighted-average grant date fair value (in dollars per share)				$ 82.45	$ 95.26	$ 98.61	$ 110.40
Performance Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares subject to service and market conditions (in shares)							0
Performance Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares subject to service and market conditions (in shares)							1.6
WRL Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award
Term of plan		10 years
Shares authorized for issuance			7,909,390
Increase in shares authorized for issuance (in shares)			2,000,000
Aggregate amount of common stock available for grant							3,000,262
Unvested awards compensation not yet recognized							$ 54,500
Unvested awards compensation costs period of recognition							1 year 10 months 17 days
Risk-free interest rate							0%	0%	2.70%
Expected volatility							0%	0%	56.90%
Vested shares issued (in shares)							597,633
Weighted-average grant date fair value (in dollars per share)							$ 93.12	$ 94.13	$ 62.34
WML Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Term of plan	10 years
Shares authorized for issuance	523,843,160
Aggregate amount of common stock available for grant							512,897,160
Risk-free interest rate							3.10%	3.60%	3.20%
Expected volatility							54.20%	53.80%	45.70%
WML Share Award Plan
Share-based Compensation Arrangement by Share-based Payment Award
Term of plan	10 years
Unvested awards compensation not yet recognized							$ 11,200
Unvested awards compensation costs period of recognition							2 years 1 month 2 days
Vested shares issued (in shares)							8,931,255
Weighted-average grant date fair value (in dollars per share)							$ 0.90	$ 1.08	$ 0.62

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Provided for Stock Options under Stock-Based Compensation Plans
Cash received from the exercise of stock options	$ 1,017,000	$ 1,965,000	$ 0
WRL Omnibus Plan
Options
Outstanding as of January 1, 2024	23,985
Granted	0
Exercised	(17,285)
Forfeited or expired	0
Outstanding as of December 31, 2024	6,700	23,985
Fully vested and expected to vest as of December 31, 2024	6,700
Exercisable as of December 31, 2024	6,700
Weighted Average Exercise Price
Outstanding as of January 1, 2024	$ 61.48
Granted	0
Exercised	58.85
Forfeited or expired	0
Outstanding as of December 31, 2024	68.25	$ 61.48
Fully vested and expected to vest as of December 31, 2024	68.25
Exercisable as of December 31, 2024	$ 68.25
Weighted Average Remaining Contractual Term (in years)
Outstanding as of December 31, 2024	9 months 18 days
Fully vested and expected to vest as of December 31, 2024	9 months 18 days
Exercisable as of December 31, 2024	9 months 18 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2024	$ 119,997
Fully vested and expected to vest as of December 31, 2024	119,997
Exercisable as of December 31, 2024	$ 119,997
Provided for Stock Options under Stock-Based Compensation Plans
Weighted average grant date fair value	$ 0	$ 0	$ 18.56
Intrinsic value of stock options exercised	$ 832,000	$ 1,475,000	$ 0
Cash received from the exercise of stock options	$ 1,017,000	$ 1,965,000	$ 0
WML Share Option Plan
Options
Outstanding as of January 1, 2024	37,220,400
Granted	4,983,000
Exercised	0
Forfeited or expired	(644,000)
Outstanding as of December 31, 2024	41,559,400	37,220,400
Fully vested and expected to vest as of December 31, 2024	41,559,400
Exercisable as of December 31, 2024	24,287,400
Weighted Average Exercise Price
Outstanding as of January 1, 2024	$ 1.52
Granted	0.75
Exercised	0
Forfeited or expired	4
Outstanding as of December 31, 2024	1.40	$ 1.52
Fully vested and expected to vest as of December 31, 2024	1.40
Exercisable as of December 31, 2024	$ 1.75
Weighted Average Remaining Contractual Term (in years)
Outstanding as of December 31, 2024	6 years 4 months 24 days
Fully vested and expected to vest as of December 31, 2024	6 years 4 months 24 days
Exercisable as of December 31, 2024	5 years 2 months 12 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2024	$ 419,076
Fully vested and expected to vest as of December 31, 2024	419,076
Exercisable as of December 31, 2024	$ 167,630
Provided for Stock Options under Stock-Based Compensation Plans
Weighted average grant date fair value	$ 0.25	$ 0.25	$ 0.26
Intrinsic value of stock options exercised	$ 0	$ 0	$ 0
Cash received from the exercise of stock options	0	$ 0	$ 0
Unrecognized compensation, stock options	$ 4,300,000
Unrecognized compensation cost, weighted average period	3 years 3 months 3 days

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility	45%	55%
Risk-free interest rate	4.10%	3.80%
WRL Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	0%	0%	0%
Expected volatility	0%	0%	56.90%
Risk-free interest rate	0%	0%	2.70%
Expected term (years)	0 years	0 years	1 year 9 months 18 days
WML Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	5.40%	5.70%	1.30%
Expected volatility	54.20%	53.80%	45.70%
Risk-free interest rate	3.10%	3.60%	3.20%
Expected term (years)	6 years 6 months	6 years 6 months	6 years 6 months
WIL Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected term (years)	0 years

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Nonvested Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			12 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Performance Share Units
Shares
Nonvested, beginning of period (in shares)				24,910
Granted (in shares)	94,350	84,130	67,320	25,885
Vested (in shares)				0
Forfeited (in shares)				0
Nonvested, end of period (in shares)				50,795	24,910
Weighted Average Grant Date Fair Value
Nonvested, beginning of period (in dollars per share)				$ 121.70
Granted (in dollars per share)	$ 82.45	$ 95.26	$ 98.61	110.40
Vested (in dollars per share)				0
Forfeited (in dollars per share)				0
Nonvested, end of period (in dollars per share)				115.94	$ 121.70
Weighted average grant date fair value	$ 82.45	$ 95.26	$ 98.61	$ 110.40
WRL Omnibus Plan
Shares
Nonvested, beginning of period (in shares)				977,658
Granted (in shares)				597,633
Vested (in shares)				(526,612)
Forfeited (in shares)				(29,708)
Nonvested, end of period (in shares)				1,018,971	977,658
Weighted Average Grant Date Fair Value
Nonvested, beginning of period (in dollars per share)				$ 96.63
Granted (in dollars per share)				93.12	$ 94.13	$ 62.34
Vested (in dollars per share)				94.62
Forfeited (in dollars per share)				102.97
Nonvested, end of period (in dollars per share)				95.52	96.63
Weighted average grant date fair value				$ 93.12	$ 94.13	$ 62.34
Fair value of shares vested				$ 49,544	$ 56,689	$ 52,965
WML Share Award Plan
Shares
Nonvested, beginning of period (in shares)				22,331,806
Granted (in shares)				8,931,255
Vested (in shares)				(5,487,607)
Forfeited (in shares)				(1,253,005)
Nonvested, end of period (in shares)				24,522,449	22,331,806
Weighted Average Grant Date Fair Value
Nonvested, beginning of period (in dollars per share)				$ 0.92
Granted (in dollars per share)				0.90	$ 1.08	$ 0.62
Vested (in dollars per share)				1.04
Forfeited (in dollars per share)				0.95
Nonvested, end of period (in dollars per share)				0.89	0.92
Weighted average grant date fair value				$ 0.90	$ 1.08	$ 0.62
Fair value of shares vested				$ 4,422	$ 3,941	$ 20,547

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Allocated Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	$ 59,029	$ 64,515	$ 67,627
Total stock-based compensation capitalized	5,242	5,268	3,246
Total stock-based compensation costs	64,271	69,783	70,873
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Total stock-based compensation costs	7,800	8,000	6,600
Casino
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	3,065	2,163	12,401
Rooms
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	1,028	800	1,252
Food and Beverage
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	2,197	1,636	2,417
Entertainment, retail and other
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	1,108	8,230	10,964
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	$ 51,631	$ 51,686	$ 40,593

Income Taxes - Summary of Conso

Income Taxes - Summary of Consolidated Income (Loss) Before Taxes For U.S. and Foreign Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 251,003	$ 142,775	$ 339,513
Foreign	392,395	142,608	(1,039,549)
Total	$ 643,398	$ 285,383	$ (700,036)

Income Taxes - Summary of (Bene

Income Taxes - Summary of (Benefit) Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
U.S. Federal	$ 894	$ (248)	$ 825
U.S. State	9,496	6,337	2,882
Foreign	141	(194)	2,510
Total	10,531	5,895	6,217
Deferred
U.S. Federal	(4,585)	(483,786)	1,450
U.S. State	(2,264)	(20,310)	1,674
Foreign	0	1,367	(9)
Total	(6,849)	(502,729)	3,115
Income tax benefit (provision), total	$ 3,682	$ (496,834)	$ 9,332

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Taxes (Federal Statutory Corporate Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S. Federal statutory rate	21%	21%	21%
State tax	1%	(2.80%)	0.30%
Foreign tax credits, net of valuation allowance	(12.20%)	(139.80%)	12.50%
Non-taxable foreign income	(6.30%)	(9.60%)	(5.70%)
Foreign tax rate differential	(3.90%)	0.40%	(17.00%)
Valuation allowance, other	(6.60%)	(43.80%)	(3.10%)
Other, net	7.60%	0.50%	(9.30%)
Effective income tax rate	0.60%	(174.10%)	(1.30%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Complementary tax rate	12%
Amount of complementary tax exemption	$ 107,300,000	$ 77,400,000
Amount of complementary tax exemption (in dollars per share)	$ 0.97	$ 0.69
Increase (decrease) in valuation allowance for deferred tax assets	$ 735,900,000	$ 1,100,000,000
Foreign tax credit carryforwards	533,500,000
Disallowed interest carryforwards not subject to expiration	688,300,000
U.S. and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets	130,900,000	135,700,000	$ 135,900,000
Unrecognized tax benefits that would impact the effective tax rate if recognized	65,800,000	69,000,000	69,000,000
Recognized interest and penalties	0	0	0
Decrease in unrecognized tax benefits due to expiration of the statute of limitations	16,288,000	16,126,000	14,967,000
Unrecognized Tax Benefits	131,018,000	135,671,000	135,979,000	$ 141,515,000
Other Noncurrent Liabilities
Income Taxes
Unrecognized Tax Benefits	100,000
FTC Carryforward
Income Taxes
Increase (decrease) in valuation allowance for deferred tax assets	693,300,000	971,700,000
Current Year Utilization
Income Taxes
Increase (decrease) in valuation allowance for deferred tax assets		97,500,000
Expirations During Year
Income Taxes
Increase (decrease) in valuation allowance for deferred tax assets	614,900,000	572,600,000
More Than Likely Not Realized
Income Taxes
Increase (decrease) in valuation allowance for deferred tax assets	78,400,000	301,600,000
Disallowed Interest Expense Carryforwards [Member]
Income Taxes
Increase (decrease) in valuation allowance for deferred tax assets		158,000,000
Maximum
Income Taxes
Unrecognized tax benefit increase resulting in tax settlements	2,600,000
Tax Credit Carryforward, Expires at 2025
Income Taxes
Foreign tax credit carryforwards	47,200,000
Tax Credit Carryforward, Expires at 2027
Income Taxes
Foreign tax credit carryforwards	486,300,000
Wynn Macau
Income Taxes
Decrease in unrecognized tax benefits due to expiration of the statute of limitations	16,300,000	16,100,000	15,000,000
U.S.
Income Taxes
Foreign tax credit carryforwards	533,473,000	1,244,149,000
Tax loss carryforward	658,900,000	624,600,000
Foreign
Income Taxes
Tax loss carryforward	$ 38,200,000	$ 55,100,000	$ 154,600,000

Income Taxes - Summary of Net D

Income Taxes - Summary of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets And Liabilities
Foreign tax credit carryforwards	$ 533,500
Lease liability	370,110	$ 371,032
Less: valuation allowance	(604,645)	(1,340,581)
Net deferred tax asset	507,716	500,877
U.S.
Deferred Tax Assets And Liabilities
Foreign tax credit carryforwards	533,473	1,244,149
Disallowed interest expense carryforward	157,586	156,224
Net operating loss carryforward	169,598	160,778
Property and equipment	72,286	50,903
Receivables, inventories, accrued liabilities and other	21,491	21,854
Stock-based compensation	9,020	9,984
Other tax credit carryforwards	21,562	19,813
Intangibles and related other	36,371	41,914
Other	1,858	0
Deferred tax assets, gross	1,393,355	2,076,651
Less: valuation allowance	(479,854)	(1,172,982)
Deferred tax assets, net	913,501	903,669
Leased asset	(370,110)	(16,186)
Prepaid insurance, maintenance and taxes	(15,447)	(371,032)
Other	(20,228)	(15,584)
Deferred tax liabilities	(405,785)	(402,802)
Foreign
Deferred Tax Assets And Liabilities
Net operating loss carryforward	32,114	78,842
Other	2,952	3,275
Deferred tax assets, gross	126,950	169,966
Less: valuation allowance	(124,791)	(167,599)
Deferred tax assets, net	2,159	2,367
Deferred Tax Liabilities, Property, Plant and Equipment	(2,159)	(2,357)
Property and equipment	91,884	87,849
Deferred tax liabilities	$ (2,159)	$ (2,357)

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Valuation Allowance [Line Items]
Valuation allowance	$ 604,645	$ 1,340,581
Foreign tax credits
Valuation Allowance [Line Items]
Valuation allowance	247,973	941,249
Intangible assets
Valuation Allowance [Line Items]
Valuation allowance	36,850	46,084
U.S. loss carryforwards
Valuation Allowance [Line Items]
Valuation allowance	169,598	160,778
Other U.S. deferred tax assets
Valuation Allowance [Line Items]
Valuation allowance	25,432	24,872
Foreign loss carryforwards
Valuation Allowance [Line Items]
Valuation allowance	32,674	80,569
Other foreign deferred tax assets
Valuation Allowance [Line Items]
Valuation allowance	$ 92,118	$ 87,029

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance-beginning of year	$ 135,671	$ 135,979	$ 141,515
Increases based on tax positions of the current year	11,635	15,818	12,068
Reductions based on tax positions of prior years	0	0	(2,637)
Reductions due to lapse in statutes of limitations	(16,288)	(16,126)	(14,967)
Balance-end of year	$ 131,018	$ 135,671	$ 135,979

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income (loss) attributable to Wynn Resorts, Limited - basic	$ 501,078	$ 729,994	$ (423,856)
Assumed conversion of WML Convertible Bonds	(21,005)	(16,495)	0
Net income (loss) attributable to Wynn Resorts, Limited - diluted	$ 480,073	$ 713,499	$ (423,856)
Denominator:
Weighted average common shares outstanding (in shares)	109,966	112,523	113,623
Potential dilutive effect of stock options, nonvested, and performance nonvested shares (in shares)	301	332	0
Weighted average common and common equivalent shares outstanding (in shares)	110,267	112,855	113,623
Net income (loss) attributable to Wynn Resorts, Limited per common share, basic (in dollars per share)	$ 4.56	$ 6.49	$ (3.73)
Net income (loss) attributable to Wynn Resorts, Limited per common share, diluted (in dollars per share)	$ 4.35	$ 6.32	$ (3.73)
Antidilutive securities excluded from computation of earnings per share (in shares)	310	238	895

Leases - Summary of Lease Asset

Leases - Summary of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Operating leases	$ 1,797,276	$ 1,832,896
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net	Property and equipment, net
Finance leases	$ 94,656	$ 43,078
Current liabilities
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Operating leases	$ 10,869	$ 9,295
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Finance leases	$ 18,367	$ 13,412
Non-current liabilities
Operating leases	$ 1,623,890	$ 1,631,749
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Finance leases	$ 71,592	$ 24,028

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lease cost:
Operating lease cost	$ 17,146	$ 17,173	$ 18,321
Triple-net operating lease cost related to Encore Boston Harbor	141,576	141,722	11,773
Short-term lease cost	30,443	27,468	21,060
Amortization of leasehold interests in land	13,704	13,666	13,728
Variable lease cost	2,493	1,868	1,081
Finance lease interest cost	3,391	2,363	2,131
Total lease cost	208,753	204,260	68,094
Supplemental cash flow disclosures:
Operating lease liabilities arising from obtaining operating lease assets	3,803	26,657	1,519,628
Finance lease liabilities arising from obtaining finance lease assets	80,021	8,842	5,906
Cash paid for amounts included in the measurement of lease liabilities:
Cash used in operating activities - Operating leases	141,004	139,054	26,094
Cash used in financing activities - Finance leases	$ 19,219	$ 19,267	$ 18,188
Other information:
Weighted-average remaining lease term - Operating leases	29 years 1 month 6 days	30 years 1 month 6 days	31 years 1 month 6 days
Weighted-average remaining lease term - Finance leases	10 years 6 months	19 years 8 months 12 days	16 years
Weighted-average discount rate - Operating leases	8%	8%	8%
Weighted-average discount rate - Finance leases	6.30%	5.80%	5%

Leases - Maturity Analysis (Det

Leases - Maturity Analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 141,522
2026	142,422
2027	144,767
2028	145,727
2029	147,932
Thereafter	3,680,177
Total undiscounted cash flows	4,402,547
Short-term lease liabilities	10,869	$ 9,295
Long-term lease liabilities	1,623,890	1,631,749
Total lease liabilities	1,634,759
Interest on lease liabilities	2,767,788
Finance Leases
2025	23,412
2026	23,080
2027	22,175
2028	17,377
2029	989
Thereafter	60,806
Total undiscounted cash flows	147,839
Short-term lease liabilities	18,367	13,412
Long-term lease liabilities	71,592	$ 24,028
Total lease liabilities	89,959
Interest on lease liabilities	$ 57,880

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) a renewal	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
2025	$ 141,522
2026	142,422
2027	144,767
2028	145,727
2029	147,932
Thereafter	3,680,177
Liability associated with lease	1,634,759
Operating lease assets	1,797,276	$ 1,832,896
Amortization of leasehold interests in land	13,704	13,666	$ 13,728
Undeveloped Land - Las Vegas | Land
Lessee, Lease, Description [Line Items]
Thereafter	343,800
Liability associated with lease	$ 65,200	64,800
Number of acres of undeveloped land leased | a	16
2024 to 2027	$ 4,000
Operating lease assets	81,300	82,500
Undeveloped Land - Las Vegas | Land | Amortization each year 2023 through 2096
Lessee, Lease, Description [Line Items]
Amortization of leasehold interests in land	1,100
Undeveloped Land - Las Vegas | Land | Amortization in 2097
Lessee, Lease, Description [Line Items]
Amortization of leasehold interests in land	$ 700
Macau | Land
Lessee, Lease, Description [Line Items]
Terms of lease contracts	25 years
Renewal terms of lease contracts	10 years
2025	$ 1,500
2026	1,500
2027	1,500
2028	1,500
2029	1,300
Thereafter	7,200
Liability associated with lease	9,800	10,400
Operating lease assets	129,500	$ 141,200
Macau | Land | Amortization each year 2023 through 2028
Lessee, Lease, Description [Line Items]
Amortization of leasehold interests in land	12,600
Macau | Land | Annual Amortization, 2029
Lessee, Lease, Description [Line Items]
Amortization of leasehold interests in land	11,300
Macau | Land | Amortization 2030 Through 2036
Lessee, Lease, Description [Line Items]
Amortization of leasehold interests in land	9,200
Macau | Land | Annual Amortization, 2037
Lessee, Lease, Description [Line Items]
Amortization of leasehold interests in land	$ 3,100
Encore Boston Harbor
Lessee, Lease, Description [Line Items]
Terms of lease contracts	30 years
Number of renewals | renewal	1
Renewal terms of lease contracts	30 years
Operating lease, expense	$ 100,000
2025	126,400
2026	128,800
2027	131,300
2028	133,700
2029	136,300
Thereafter	$ 3,290,000
Encore Boston Harbor | First Ten Years
Lessee, Lease, Description [Line Items]
Fixed annual increase	1.75%
Encore Boston Harbor | Minimum | Remainder of Lease Term
Lessee, Lease, Description [Line Items]
Fixed annual increase	1.75%
Encore Boston Harbor | Maximum | Remainder of Lease Term
Lessee, Lease, Description [Line Items]
Fixed annual increase	2.50%

Leases - Minimum and Contingent

Leases - Minimum and Contingent Operating Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Minimum rental income	$ 138,604	$ 131,901
Minimum rental income			$ 126,226
Contingent rental income	66,526	96,831
Contingent rental income			62,586
Total rental income	$ 205,130	$ 228,732
Total rental income			$ 188,812
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other

Leases - Future Minimum Payment

Leases - Future Minimum Payments to be Received (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 135,387
2026	104,509
2027	86,405
2028	59,360
2029	33,977
Thereafter	93,451
Total future minimum rentals	$ 513,089

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction
Amount of transaction	$ 49,500	$ 28,300
Prepaid expenses and other	95,725	99,961
Related Party | Receivable For Reimbursable Costs
Related Party Transaction
Prepaid expenses and other	$ 6,900	$ 8,700

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) MOP$ in Thousands, $ in Thousands				12 Months Ended	36 Months Ended
	Sep. 06, 2024 USD ($)	Aug. 22, 2024 USD ($)	Jan. 01, 2023	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Feb. 13, 2025 USD ($)	Dec. 31, 2024 MOP (MOP$)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 MOP (MOP$)	Dec. 31, 2023 USD ($)
Commitments And Contingencies [Line Items]
Other commitment								$ 580,213
Percentage of gross revenue							35%	35%
2025								$ 328,603
2026								65,906
2027								42,341
2028								34,726
2029								29,764
Thereafter								78,873
Letter of credit outstanding								14,700
Securities Class Action
Commitments And Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		$ 70,000
Litigation Settlement, Fee Expense		$ 9,400		$ 9,400
Federal Investigation
Commitments And Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party				65,000
Litigation Settlement, Fee Expense	$ 130,000			$ 130,000
Estimated Litigation Liability								$ 65,000
Minimum
Commitments And Contingencies [Line Items]
Term of employment agreement				3 years
Maximum
Commitments And Contingencies [Line Items]
Term of employment agreement				5 years
Island 3 AMI FZ-LLC
Commitments And Contingencies [Line Items]
Percentage of ownership							40%	40%
Wynn Al Marjan Island
Commitments And Contingencies [Line Items]
Contributed capital percentage				40%
Payments For Contributed Capital				$ 541,700	$ 631,700
Wynn Al Marjan Island | Minimum
Commitments And Contingencies [Line Items]
Investment Company, Committed Capital				700,000
Wynn Al Marjan Island | Maximum
Commitments And Contingencies [Line Items]
Investment Company, Committed Capital				$ 775,000
Wynn Al Marjan Island FZ-LLC | Line of Credit | Subsequent Event | Delayed Draw Secured Term Loan Facility
Commitments And Contingencies [Line Items]
Credit facility, maximum borrowing capacity						$ 2,400,000
Macau Gaming and Non-Gaming Investments | Wynn Macau SA
Commitments And Contingencies [Line Items]
Other commitment							MOP$ 21030000	$ 2,630,000
Other commitment, term			10 years	10 years
Macau Non-Gaming Capital Projects | Wynn Macau SA
Commitments And Contingencies [Line Items]
Other commitment							19,800,000	2,480,000
Macau Gaming Concession | Wynn Macau SA
Commitments And Contingencies [Line Items]
Gaming premium, average gross table gaming revenue, minimum							7,000	900
Gaming premium, average gross machine gaming revenue, minimum							MOP$ 300	$ 38
Special levies, reduction of payables, percentage of gross revenue							5%	5%
Employment Contracts
Commitments And Contingencies [Line Items]
2025								$ 106,900
2026								70,200
2027								32,300
2028								4,600
2029								1,500
Thereafter								1,300
Property Transfer Agreement | Wynn Macau SA | Scenario One
Commitments And Contingencies [Line Items]
Other commitment									MOP$ 53100	$ 6,600
Property Transfer Agreement | Wynn Macau SA | Scenario Two
Commitments And Contingencies [Line Items]
Other commitment							MOP$ 177000	$ 22,100

Commitments and Contingencies_2

Commitments and Contingencies - Other Commitments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 328,603
2026	65,906
2027	42,341
2028	34,726
2029	29,764
Thereafter	78,873
Total minimum payments	$ 580,213

Retail Joint Venture (Details)

Retail Joint Venture (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Mar. 31, 2024 ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2017 ft²	Dec. 31, 2016 ft²
Variable Interest Entity [Line Items]
Total assets	$ 12,977,963		$ 13,996,223	$ 13,415,100
Total liabilities	13,946,566		15,097,157
Long-term debt	10,541,734		11,738,337
Retail Joint Venture
Variable Interest Entity [Line Items]
Total assets	100,300		102,500
Total liabilities	$ 605,800		621,900
Retail Joint Venture
Variable Interest Entity [Line Items]
Functional area square footage under construction | ft²		70,000			74,000
Ownership percentage	50.10%
Retail | Wynn Retail
Variable Interest Entity [Line Items]
Functional area square footage | ft²						88,000
Retail | Retail Joint Venture
Variable Interest Entity [Line Items]
Long-term debt	$ 597,300		$ 614,100

Segment Information - Summary o

Segment Information - Summary of Results of Operations by Segment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information
Total operating revenues		$ 7,127,961	$ 6,531,897	$ 3,756,825
Cost of goods and services sold
Gaming taxes
Adjusted Property EBITDAR		2,364,917	2,114,943	725,387
Other Operating Costs And Expenses [Abstract]
Pre-opening		9,355	9,468	20,643
Depreciation and amortization		658,895	687,270	692,318
Gain on EBH Transaction, net		0	0	(181,989)
Property charges and other		215,095	130,877	65,116
Corporate expenses and other		148,236	146,430	102,539
Stock-based compensation		59,029	64,515	67,627
Triple-net operating lease cost related to Encore Boston Harbor		141,576	141,722	11,773
Other Cost and Expense, Operating		1,232,186	1,274,772	826,063
Operating income (loss)		1,132,731	840,171	(100,676)
Nonoperating Income (Expense) [Abstract]
Interest income		130,342	175,785	29,758
Change in derivatives fair value		42,478	45,098	15,956
Gain (Loss) on Extinguishment of Debt		(2,913)	(12,683)	0
Other		29,170	(11,479)	5,811
Other expense, net		(489,333)	(554,788)	(599,360)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		643,398	285,383	(700,036)
(Provision) benefit for income taxes		(3,682)	496,834	(9,332)
Net income (loss)		639,716	782,217	(709,368)
Net income attributable to noncontrolling interest		138,638	52,223	(285,512)
Net income (loss) attributable to Wynn Resorts, Limited		501,078	729,994	(423,856)
Casino
Segment Reporting Information
Total operating revenues		4,261,357	3,718,402	1,632,541
Cost of goods and services sold		2,586,960	2,238,671	1,099,801
Rooms
Segment Reporting Information
Total operating revenues		1,242,058	1,185,671	802,138
Cost of goods and services sold		330,359	307,132	261,343
Food and Beverage
Segment Reporting Information
Total operating revenues		1,069,117	1,028,637	846,214
Cost of goods and services sold		859,426	822,323	700,549
Entertainment, retail and other
Segment Reporting Information
Total operating revenues		555,429	599,187	475,932
Cost of goods and services sold		249,679	340,437	328,529
Encore Boston Harbor
Other Operating Costs And Expenses [Abstract]
Gain on EBH Transaction, net	$ (182,000)
Operating Segments | Las Vegas Operations
Segment Reporting Information
Total operating revenues		2,571,913	2,480,606	2,132,136
Cost of goods and services sold		1,549,877	1,458,789	1,265,818
Gaming taxes		75,274	75,574	65,223
Adjusted Property EBITDAR		946,762	946,243	801,095
Operating Segments | Las Vegas Operations | Casino
Segment Reporting Information
Total operating revenues		600,088	628,185	535,279
Operating Segments | Las Vegas Operations | Rooms
Segment Reporting Information
Total operating revenues		845,660	784,385	651,291
Operating Segments | Las Vegas Operations | Food and Beverage
Segment Reporting Information
Total operating revenues		778,538	770,401	702,515
Operating Segments | Las Vegas Operations | Entertainment, retail and other
Segment Reporting Information
Total operating revenues		347,627	297,635	243,051
Operating Segments | Encore Boston Harbor
Segment Reporting Information
Total operating revenues		857,164	865,786	831,073
Cost of goods and services sold		422,974	418,784	405,413
Gaming taxes		187,062	189,593	182,274
Adjusted Property EBITDAR		247,128	257,409	243,386
Operating Segments | Encore Boston Harbor | Casino
Segment Reporting Information
Total operating revenues		635,314	648,668	624,738
Operating Segments | Encore Boston Harbor | Rooms
Segment Reporting Information
Total operating revenues		92,831	90,195	85,078
Operating Segments | Encore Boston Harbor | Food and Beverage
Segment Reporting Information
Total operating revenues		84,402	85,653	82,818
Operating Segments | Encore Boston Harbor | Entertainment, retail and other
Segment Reporting Information
Total operating revenues		44,617	41,270	38,439
Operating Segments | Wynn Palace | Macau Operations
Segment Reporting Information
Total operating revenues		2,217,671	1,886,844	410,289
Cost of goods and services sold		533,331	486,909	365,064
Gaming taxes		950,630	784,089	141,782
Adjusted Property EBITDAR		733,710	615,846	(96,557)
Operating Segments | Wynn Palace | Macau Operations | Casino
Segment Reporting Information
Total operating revenues		1,795,604	1,471,280	255,886
Operating Segments | Wynn Palace | Macau Operations | Rooms
Segment Reporting Information
Total operating revenues		202,936	201,783	40,079
Operating Segments | Wynn Palace | Macau Operations | Food and Beverage
Segment Reporting Information
Total operating revenues		125,398	104,566	35,546
Operating Segments | Wynn Palace | Macau Operations | Entertainment, retail and other
Segment Reporting Information
Total operating revenues		93,733	109,215	78,778
Operating Segments | Wynn Macau | Macau Operations
Segment Reporting Information
Total operating revenues		1,464,646	1,213,534	311,249
Cost of goods and services sold		410,810	378,178	319,443
Gaming taxes		611,984	497,265	115,853
Adjusted Property EBITDAR		441,852	338,091	(124,047)
Operating Segments | Wynn Macau | Macau Operations | Casino
Segment Reporting Information
Total operating revenues		1,230,351	970,269	216,639
Operating Segments | Wynn Macau | Macau Operations | Rooms
Segment Reporting Information
Total operating revenues		100,631	109,308	25,691
Operating Segments | Wynn Macau | Macau Operations | Food and Beverage
Segment Reporting Information
Total operating revenues		80,779	68,017	25,334
Operating Segments | Wynn Macau | Macau Operations | Entertainment, retail and other
Segment Reporting Information
Total operating revenues		52,885	65,940	43,585
Corporate and other
Segment Reporting Information
Total operating revenues		16,567	85,127	72,078
Cost of goods and services sold		17,283	106,752	148,233
Gaming taxes		3,819	21,021	22,335
Adjusted Property EBITDAR		(4,535)	(42,646)	(98,490)
Corporate and other | Casino
Segment Reporting Information
Total operating revenues		0	0	0
Corporate and other | Rooms
Segment Reporting Information
Total operating revenues		0	0	0
Corporate and other | Food and Beverage
Segment Reporting Information
Total operating revenues		0	0	0
Corporate and other | Entertainment, retail and other
Segment Reporting Information
Total operating revenues		$ 16,567	$ 85,127	$ 72,078

Segment Information - Footnote

Segment Information - Footnote Details (Details) - USD ($) $ in Millions			12 Months Ended
	Sep. 06, 2024	Aug. 22, 2024	Dec. 31, 2024
Segment Reporting Information
Gain (Loss) on Disposition of Assets			$ 24.6
Project abandonment costs, contract termination liabilities			94.9
Construction in Progress
Segment Reporting Information
Capitalized Project Costs, Expense			61.5
Wynn Interactive's Digital Sports Betting And Casino Gaming Business
Segment Reporting Information
Business Exit Costs			16.9
Federal Investigation
Segment Reporting Information
Litigation Settlement, Fee Expense	$ 130		130
Securities Class Action
Segment Reporting Information
Litigation Settlement, Fee Expense		$ 9.4	$ 9.4

Segment Information - Schedule

Segment Information - Schedule of Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	$ 419,929	$ 442,793	$ 300,127
Corporate Segment and Other Operating Segment
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	62,361	93,201	8,605
Operating Segments | Macau Operations
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	165,127	91,864	44,949
Operating Segments | Las Vegas Operations
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	159,789	187,150	226,386
Operating Segments | Encore Boston Harbor
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	32,652	70,578	20,187
Wynn Palace | Operating Segments | Macau Operations
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	107,458	66,262	31,946
Wynn Macau | Operating Segments | Macau Operations
Segment Reporting Information
Segment, Expenditure, Addition to Long-Lived Assets	$ 57,669	$ 25,602	$ 13,003

Segment Information - Summary_2

Segment Information - Summary of Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets
Assets	$ 12,977,963	$ 13,996,223	$ 13,415,100
Long-lived assets	9,115,134	8,777,077	8,952,533
Macau
Revenues from External Customers and Long-Lived Assets
Long-lived assets	3,095,411	3,191,134	3,382,284
United States
Revenues from External Customers and Long-Lived Assets
Long-lived assets	6,019,723	5,585,943	5,570,249
Corporate Segment and Other Operating Segment
Revenues from External Customers and Long-Lived Assets
Assets	2,835,231	3,129,761	3,583,938
Operating Segments | Macau Operations
Revenues from External Customers and Long-Lived Assets
Assets	5,004,913	5,686,650	4,582,141
Operating Segments | Las Vegas Operations
Revenues from External Customers and Long-Lived Assets
Assets	3,157,399	3,173,247	3,168,597
Operating Segments | Encore Boston Harbor
Revenues from External Customers and Long-Lived Assets
Assets	1,980,420	2,006,565	2,080,424
Wynn Palace | Operating Segments | Macau Operations
Revenues from External Customers and Long-Lived Assets
Assets	2,813,190	2,936,264	2,884,073
Wynn Macau | Operating Segments | Macau Operations
Revenues from External Customers and Long-Lived Assets
Assets	1,412,795	1,864,211	1,430,051
Other Macau | Operating Segments | Macau Operations
Revenues from External Customers and Long-Lived Assets
Assets	$ 778,928	$ 886,175	$ 268,017

Schedule II- Valuation and Qu_2

Schedule II- Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 40,075	$ 78,842	$ 111,319
Provisions for Doubtful Accounts	4,986	(3,964)	(7,295)
Write-offs, Net of Recoveries	(7,367)	(34,803)	(25,182)
Ending balance	37,694	40,075	78,842
Valuation Allowance of Deferred Tax Assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	1,340,581	2,437,202	2,501,263
Provisions for Doubtful Accounts	50,568	96,623	108,150
Write-offs, Net of Recoveries	(786,504)	(1,193,244)	(172,211)
Ending balance	$ 604,645	$ 1,340,581	$ 2,437,202