- Earnings call transcript Q3 2022

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Operator

Welcome to the Wynn Resorts Third Quarter 2022 Earnings Call. [Operator Instructions] And I will now turn the line over to Julie Cameron-Doe, Chief Financial Officer. Please go ahead.

Julie Cameron-Doe

Thank you, operator, and good afternoon, everyone.

On the call with me today are Craig Billings and Brian Gullbrants in Las Vegas. are Linda line and Frederic the Holaday. Jenny on Ian Chen, Coughlan, Luvisutto Also remind we those you statements to want I that harbor may come securities or under may federal laws, may and statements not true. safe forward-looking make over the now Billings. Craig call will to I turn

Craig Billings

Thanks, Good and joining us thanks Julie. for everyone, today. afternoon,

XXXX The third XXXX producers another above more which levels EBITDA into new record million quarter across for show example our to in quarter million forward. adjusted envelope the casino, get third incredibly despite off behind to $XXX quarter a year-over-year and or willingness successfully where beverage revenue. of drive I our Awakening, proud holds. to on I'd and comparison $XXX a like retail, yet I'll thank Vegas, Las a to We of Vegas, broad-based of shelf. team show the Before quarter, cast, lower-than-normal difficult opened with the EBITDA Monday. crew XX% the is all our doubling and the hotel, turned more push is and increase saw innovate well team the the kick I'm straight Las the in of in on strength approximately in third than comps. even with impressive The food

our deep ownership continue of peers. sense to in investment team's Las programming facilities people, Vegas in our Our above and and elevate

the benefit highlights that again once quarter investment This of deliberate strategy.

strength quarter. quarters continued fourth has ahead, we experienced several past into encouraged have Looking that over the the the

half our substantially pacing by during record the of room latter surrounding year in followed the ADRs. forward-looking macro monthly seasonal at the Near with an to strong concerns the of softness are above Similarly, we normal on QX, as Thanksgiving, higher of EBITDA indicators strong property. remainder pre-COVID or usual despite fact, close a some expect hold during pattern December. quite the our In was the well-known all-time October also bookings levels term, to remain for

Vegas, of had strong gaming like with with the occupancy. ADR strength QX, with saw Boston, the million levels. third record a EBITDA consistent driven to strength generating These $XX on October, revenue trends quarter, both hotel and by We side Turning with non-gaming revenue Encore and have continued quarter in record across the day gross casino per EBITDA. in into

ahead, off we kick about Looking betting excited year. early is in remain Commonwealth, expected the sports next which to

be there sports significant retail opportunity for a soon book Our will customer acquisition.

of add quarter the for third the to also continues from X% our results reflected levels, third with our We the street plans Macau, In across property quarter, the that. GGR market-wide approximately beverage challenging be project upcoming entertainment that food to finalize have of and market continue development the reaching and our and will incremental amenities. only in parking, XXXX

team OpEx. Our challenging a decreases in costs has fixed in controlling and very of done a through operating payroll job combination a fantastic environment

timeline. which Long with the improved decisions bad of We our million concession a of pent-up much efficiency. the was a term, improvement proposals two-week overall controls second tourism slightly reviewing for October the to of XXXX unique our At tourism credit a casinos overall our As million, was despite offering VIP holiday the in about adjusting tender with in and debt process quarter $X Asia. and market Macau XXXX after is to government $XX the continued in QX that XXXX Wynn million EBITDA travel the from in currently was quarter in rate This and quarter. our pleased did during quarter accessible. a third of loss market the the The demand in Interactive, the prospects to result, closure results authority nearly strong the for benefited the loss were we business, to million reached in holiday XX% so actually million the in even $XX preestablished in where submit the $XX demand from the third highlights July, again encouraging EBITDA meaningful from period, the turnover is excited expected pockets business, advance declined above September where demand marketing direct some the tenant comparable during strong in for made levels. Macau's Macau the application of once be More remain year-end. when burn according concession in of periods recently, second back in cost particularly we sales to see by retail our $XX period; on and

We for are the for potential a forward there significant Wynn Massachusetts. to looking catalyst in

resort we're integrated our on for Lastly, resort. quickly planning in advancing the Wynn the our programming in Marjan, the late We're stages of for UAE.

the the plans expect about be due run some incredible and setting quarter. a back have in early expect work that, on look beach renderings, I'll we With man-made I for publicly through the and with to next foundation more I pristine unique. we of island, We canvas truly property exciting which details driving to turn by design with XXXX. piles the of will to share something programming forward in and nature of the this to middle more it you somewhat additional sharing will the details we course. year. Julie Given project also

Julie Cameron-Doe

Lower-than-normal during of by EBITDA Vegas, third of we the EBITDA operating million Thank million At property quarter. Las $XXX.X record you, $XX in quarter QX. impacted around $XXX.X in negatively adjusted Wynn generated Craig. revenue hold a on million

was QX XX.X% and points year-over-year XXXX. XX up in quarter, basis points up occupancy basis the versus hotel XXX Our

with Importantly, we've stayed versus $XXX of during XXXX QX overall QX XXXX, levels. above and luxury true compete ADR to product up to brand and our continue QX quality experience, our and service XXXX XX% on reaching X.X%

standards. still beverage levels. the suppressed across costs challenges. to negatively above our year-over-year, balances adjusted million tables we We exacting during great service XX% In casino, drop we cost XXXX, and record of our that up property above was and in XXXX casino with across during was and QX the in up below headcount cost the slot broad-based EBITDA revenue XXXX gaming compared XX.X% compared were was QX in and increase XX.X% On in maintaining tax XXXX points but food to team guest areas Vegas with QX strength was $X.X efficiencies margin in Boston, structure and XXXX million We the QX million controlling of a quarter. due delivering levels. The done property up saw year-over-year basis, quarter. retail, despite appropriately of X,XXX COVID-related table hold-normalized job day XX.X%. $XX.X in EBITDA of both of Similarly, impact $XXX slots. EBITDA do generated were XX% handle international QX a and well quarter year-over-year XX.X% the a not to approximately QX our our XXXX. other guest nicely and travel basis excluding strength margins non-gaming remain XX.X% In which margin levels experience. impacting to In has Our XXXX without property pre-pandemic increased above play OpEx, margin casino, levels, and due up adjusted nongaming GGR, broadband well that generated lower experience, EBITDA the QX and businesses XX% also per in the committed saw to broad-based the a

per cost by hotel, with XX% nongaming strength revenue grew and stayed million day driven with side gaming XXXX. broadly We million in ADR. XX% in $XXX day the on QX excluding of XXXX XXXX. particular year-over-year, the approximately decrease This over tax was line XX% disciplined with in $X.X of to OpEx, compared in and QX a Our $X.X per a occupancy very QX

We're EBITDA year-over-year on in of a we've $XX,XXX prior impacted which continue with the leverage over to per late labor last $X positioned our QX comps beginning to were by of As line to OpEx grow contractual onetime combination QX drive discussed top million benefit base XXXX, of in around and operating OpEx a calls, we as along added agreements, strong day year. time. the well

delivered loss the visitation. revenue has as million in COVID region suppress on operations million quarter an situation of of $XX.X the EBITDA to operating Macau continued $XXX.X the in Our

noted, the October business during of while has businesses. Week Golden the some encouraging Craig remained demand in period, As pockets challenging, our particularly we and holiday experienced retail VIP direct

per OpEx, drive excluding tax, to as disciplined QX, job Our XXXX. Longer term, business on we're strong gaming The QX well environment. operating difficult day the to a leverage in $X.X time. in a per day decrease recovers great million in team positioned a done sequential million over has $X.X remaining costs operating was compared approximately

primarily burn and from to EBITDA million QX our marketing by driven $X rate efficiency improved QX Interactive, in to Turning million control. OpEx in Wynn XXXX, $XX.X XXXX, improved disciplined

balance the to sheet. on Moving

into remains cash million and position available facility billion Macau. Wynn strong exclude $X.X very the entered numbers in liquidity cash global with $X.X in of availability of when of and as Macau September billion U.S. $XXX liquidity $XXX comprised credit This XX. Our million was resorts of the approximately These undrawn and intercompany with total revolver revolving

and sale forma billion the global we on remains approximately announced to $X.X Encore for transaction of Pro track transaction, for estate leaseback the the liquidity. Our consolidated before real Harbor year. Boston the previously cash close end have of of

and Vegas of with healthy combination robust Importantly, properties creates Boston, in EBITDA XX-month very $X a generating very forma in liquidity, the together Las U.S. leverage profile over the performance of trailing billion, with our the strong pro

theater Las to will Vegas up quarter was the Awakening course Finally, open in Q&A. million, that, to our the With Wynn primarily call and at now the related CapEx normal $XX we maintenance.

Operator

first Carlo Instructions] with question Deutsche Bank. from Santarelli [Operator comes Our

Carlo Santarelli

a how players you brewing, needle. customers? the change there a return that at of the respect VIPs, can of talk How on that's policies point could about you and it so do mentioned much swiftening kind it's direct you just of nongaming, of perhaps a of kind -- seeing of potentially wanted something understand since that's made kind this the pertain I were bit? I is you're little really But what the comments Visa that have tweaked to And you Guys, to pace bit little with as think seen uptick move number a the to you bit of much of of in the smaller little a both Macau.

Craig Billings

start, Hi, and I'll comment. Carlo. I'll ask Ian then Sure, to

the portion think on accessible, in than sales Hong think reasonable Hong think Kong just of it's that's accessible more pretty given you've a retail Macau, I latter natural seen with balloon, somewhere. your like -- demand being has The I And question, I squeezing go a the air outcome just right? to former of respect mean a accessibility. of I part your that's With -- question, to natural it's your Kong. in

VIP direct in the market in so we light uptick growth weren't to And junkets. surprised see an having no of

So Ian, have year, seen I pockets them that? either surprising -- think of us. were when over the to course would been the of one demand. there don't We've We've before. it add you anything to past of

Ian Coughlan

for November. moving reopened I'd just that haven't like e-Visas clarify really of on yet, to they Xst gotten the they

have on wouldn't had it effect So an activity. October

the activity area premium linked So former our to extent is certain returning and VIP in saw we junket a players. that to

also We saw Year. a Chinese New

premium in our that the in it's offer and them there a facility those market of believe positioning we we to future. and attractive services will the make and be players, the return us So

Carlo Santarelli

of possible that you're granting certainly the hear licenses we by said eight possible I you that is year-end away, contingent Is it here being will there, that out? as it Great. guys hear And and know there, handed some we concessions. it to weeks seven, pertains will something? the between while

Craig Billings

been Sorry, has but timeline pre-established possible, anything year-end. Carlo, is the

Carlo Santarelli

you little know some mentioned then, anything Great. with while learnings you first I of of progress and bit the development stage, that in year you in about at the maybe UAE color obviously, this And quarter a bit But on break little ['XX]. could incremental on I you next Craig, a could front? the -- more your have ground talk share

Craig Billings

sure. Yes,

more in time It's tremendous a we mentioned we're believe market. and I nongaming previous I a more nongaming stages there, in luxury in the mentioned I that we the recently, over pretty of as remarks, that programming. over and the just elements there leisure now on market. think the late And was of my spend call I prepared

which man-made how per a any to to flexible what essentially an And build, that se. So going it's we're existing not it's it's going plan. given on look location incredibly development, island without determining to

For beach, you to move if you want a beach. example, move a

really period like maximize take nongaming So advantage wellness shaping amenities And sought Meanwhile, to its and a on exciting food than it's pockets be the quite with time, we but own, really component, Las will the be in facility is of a Wynn of where project. we've surroundings, makes operating of numerous exciting unique some it particularly the larger beverage to casino which our at of and Vegas, and location. for to least relationship somewhat energy compression. the such up

that a about to striking only you you time, casino, balance so market is want maintain underbuild And When like the be energy. for some of the certainly don't but where will you we think that that sense of important. you want to period operator,

So I to stunner, XXXX. a sharing early property be in we is forward the think going to more look and

Operator

next Greff Joe The from with question is JPMorgan.

Joseph Greff

talk programming. about this up about Las as you the of a And events next year bit can in about a incremental the programming year? we full you to sustainability an full different stretches of for currently that strong compare and Vegas, 'XX? Craig, if Is you be there Can your about how have peers how visibility trends of that's and talked can rule for year I try little would of of the relating you than a of way, you recently, out half year maybe half average was until event? year many thumb Can hoping to the that be talk ascertain revenues specifically trends. to of first you this first to way general do versus programming discuss going next strip helpful

Craig Billings

trend fashion. Vegas in And form to increased cetera, for willingness of event the think particular a better markets, we cetera, programming et the openness, Las a for Vegas than adjacent our were, in et emerged over years some done some this, programming Las value we as or location accessibility, think pop COVID, I think and of towards of California, I customer many particularly cases, from in Look, higher I Sure. terms match, meaningfully. a has to

Raiders same -- a by time, a that way, visitation. the number the And of in the at Vegas, drive and who so teams of had Las what amount obviously sports think emerged I had notably you tremendous

think a so particular become journey purely every we programming day. weekend transactional. looking every a town The opportunity We to has two Who I is quite program think, an weeks plug at in us, And really particular slightly for or is at general, are is on going good don't to different, the right? I of something. think into theater

which we For the car us, with and that originated all drummed leverage have success can used it's holistic. building, that to including the the more we of up we match this assets How here. d'Elegance recent in we've the golf with Concours great course, show

think do now. And we that a stage? all about property so the We as the time use how

certainly it you have a spot. marketing It's is of the it's don't content. And really I I commercials. so longer But it x CNBC per about in about -- revenue year it number events billboards. quote heuristic television than right? you, more important to focused you for because we're that's no on just It And where single the -- can week. about is It's to property, makes because every

it so we content. in people. at And we've property and good during creating this the doesn't hurt continued to pandemic, incredibly been invest invest that in our And

And it. a it numbers so cylinder the is every piece of and shows programming here, on in single and think we're I firing

Joseph Greff

second fully you topic relates answering. question my that Craig, Great. then, be limited might in And to a

We also week. last have Tilman for filing filing XXG

with and his So to time. has all can Obviously, stake in reason you any share you that? the one, he you in Two, had what communicated talk my the sizable Wynn, with investors respective for are: questions have conversations them. shareholders

Craig Billings

swaps, do as actually in because kudos well. to well quite appears him when we he what we quarter as our I Based done he's in started our were what the can guess register I in that. around have right derivative constantly, buying to watching we've we like aware Since by banks on quarter we really Q. when total with stock in certain sometime our traditionally stock, things some say It's return back watch transactions that we the in there's reported of second more cheap. And QX I to share have associated like great acquiring think that second began seen accumulations the established banks were stock seeing well been them. positions a those value excessively is that. Well, was not beyond of much All recognition all, but in our and just equity, it's say

Operator

America. Kelley The with Shaun of next Bank question from is

Shaun Kelley

into to side, hold deeper bit labor little about and notwithstanding to the wanted of come sort to we talk us and and a for Can dollars a you Vegas. about line in up back, margin balance puts group the were and little -- us help continues sure bit. outlook think sort for contribution? you average daily stuff, top just strong the impact on next bigger I we We in nongaming some performance starting year, of here comes ‘XX? show quarter? margins. takes a the and little sort the as Craig, a about rate there's as mix of of move has those there. lap we're trends, really the expenses of in than of different Operating Las think a just a go OpEx and Can rate about the help the catering some talked banquet in I'm Can think

as So think we us maybe of out help look next about that year. some

Craig Billings

that to one over Brian. I'll sure. turn Yes,

Brian Gullbrants

Thanks, Shaun. Sure.

margin, to has QX and EBITDA of strong EBIT quite before really in coming to driven has The performance. Our amazing as you see, comparison this real We've 'XX, OpEx. out strong pandemic respect been year even been and that with last team revenues. and incredibly can disciplined the over

our done we're has the and in conscious being really impact most base balancing seasonality that. the by of really and I cost all So an importantly, where been from our us revenue, think brand at. of this There's

was versus given a margin the hold, see can being seen by to the base any last our revenue team. has been we've little cost And continue on think I labor great expansion quarter, on this down the the in we Our focusing and really But almost obviously, and brand, revenue, at that growth. controlled 'XX well balanced level. very team

we pushed far absolutely seen they're it. team, We've our as much little we very are. sure sales leveraged team filing, As as crushing resistance, revenue we've I'm ADR, and as as and hard kudos you're as you to can

We are the incredible transient not on that's group segment. ADRs. in across We're records for seeing our every that just side on seeing And side.

Craig Billings

I And to would just add that.

As margin the in a any of deliver with management prudent an order a learned target lot you we brand. We know, our in COVID, lot. during Shaun, that quarter, don't is resources We particular target consistent right? to experience

We than more with are we OpEx. have nimble to been ever respect

the running or promise And business business. so We're brand better less we on well the we're have than delivering historically, and that's as people. we with how the as manage

Shaun Kelley

Great. follow-up, And for maybe Ian. my for

if we there some time could have here. of? period impact lockdowns not, channel at obviously, levels traffic just a open, you change have be that been need on also did this say decent I there aware been some know number X. of that's about a and any counterbalancing point. November could e-Visa because I believe, very Just that of for there to COVID shut has outbreaks been Has down notable anything forces or And material long the area obviously are

seeing the are ground? on what just you So

Craig Billings

Ian, to that? take you want

Ian Coughlan

had outbreak around a in we've this the two an weeks the and government's we're Macau. we When outbreak recent cycle turn to reaction it Shaun, closure, recovery. of managed very summer, government time. we and was the had in a -- six-week there And impressed the casino to closure with has in

coming a starting to buildup in weekend. this we So are occupancy see

coming trickle-in e-Visas I in So out months. up of next of will in we're coming recent pick and the believe the couple and outbreak, we then our see the weeks pace

Operator

Katz from is Jefferies. question next The David with

Cassandra Lee

incremental close business of Can digital behalf wagering? you may we David. any EBITDA talked I think or on when or provide to about positive. Cassandra Can talk update on being profit? even about clarity October is some This the you think breakeven operators

Craig Billings

Sure.

real we on about had and So this it where reasonable particular, calls, term, look, think And our in success as said in long I've about iCasino, term. brand longer the we we've think currency. the has prior really business, over pretty

As is before, What say I so. the then, now billions we've and to we done and and we said of do to aren't -- we've that. dollars we aren't think what willing burn were between first

and had If because handle almost XXXX and initial in marketing sports our without an in we're XX% results in being total would you reduction in nothing expect likely UA, the to with respect Because generating there. up, reduction cohorts database promos. but modest QX QX coming have a acquisition with us, user we're very on spend to both betting we look burn. Massachusetts at And and uptick for continue thoughtful a earth year-over-year, we revenue, have same mobile highly while. customer retail XX% and With to a XXXX sizable I a our QX shattering for play

Boston So are to in breakeven then the as Encore this as and does, Harbor. our has achieved best and market can the again, particularly where Las we digital and grow currency, Wynn Massachusetts, you ultimately the to goals Vegas at launch iGaming, and drive customers brand point said,

point So close. we're our look numbers, breakeven we're mean, EBITDA I But getting yet. at calling not the if pretty you

Cassandra Lee

been strategies value follow-up, Las thoughts the have there? any updated kind land And activate are Great. the in on that Vegas? the for could have What you of excess there some

Craig Billings

type focused you that too Look, we're we -- spread design and yourself development can't the of do, thin.

focused very the right right. UAE return high and for tremendous, opportunity getting now on that expect. us we a very It's we're So

and design the efforts And of that's of moment. really so at sign that's the our focus -- development our really the

Operator

is question from Dan with Fargo. Wells Politzer next The

Daniel Politzer

should about Vegas, should a about the forward, that. little thinking we programming be So how and going bit in you talked Las benefits

credit something guys more is uplift, business to along phased about that's that coming the next As forward going to going Or points occupancy and the group and you gradually? in X be it -- convention think is that that, you and back year? give starting XXXX full with fair into

Craig Billings

thinner We it don't into points. right. say forward don't in is convention talk again, can't -- general during I one months that a basis concentrated the of past specific so, earlier we so was really translate seen business X.X the bit little business would of I very month, certainly about come The this or back guidance, fully. or And really portion group the in year pockets. we've What you're over the in course more

this -- but So that occupancy certainly an don't not is we quantifying point, we're it tailwind, at do that.

Daniel Politzer

Understood. And then did you're in to capital in in of dividend? the buying change leaseback Encore of sale fourth allocation, How maybe stock how terms your back terms of special of in receive much terms Boston even or in the terms you're capital quarter. the that set allocating from a or proceeds -- thinking

Craig Billings

always is the recurring dividend the was of our certainly and has been pre-COVID. really it cornerstone Well, and strategy,

healthy The to dividend York, the U.S. development New the doing we're our ROIC that business well the projects, Our is are reported that in adjacent has the we're generating very, of Boston, referenced. UAE, funded infusion recovery of you cash Macau. recurring cash those hinges resumption press high very just really particularly development flow. on interested given And

quarters. talking the is the Macau, it's early return too pending little to over changes which several about next I capital allocation significant hopefully in a So be policy, think of

So stay tuned.

Operator

with The is next Farley from question UBS. Robin

Robin Farley

point? this us you level interest of Can what at your the is side York kind potential remind in New

Craig Billings

Robin. mean we sure, -- Yes. I

gateway So about all we developments, cities, battleship marquee assets. are

in of to in The But details, always is end tax been locations interested of yes, has ends the we're reported when New up as the what detailed York. yes, up we're being, ends it press. the York interested upfront like being. the what in devil rate what so course, the regulations course, license payment being, comes in up New And

Robin Farley

give or But in necessarily of expectation? you wouldn't potential timing any terms location more detail like

Craig Billings

working which think are reported that Yards. related been Hudson I it's is with we

Robin Farley

Right. expectations? terms And of anything in your timing

Craig Billings

on drop. RFP dependent It's process. the has The yet really to

Julie Cameron-Doe

Thank take one question. last you, operator. We'll

Operator

is Montour Barclays. Our Brandt final question with from

Brandt Montour

that and going we and rate? here sort you inflation stat around per picking a any at really could of to from was OpEx margin So XX%. is getting gave sort that Or get curious comfortability quarter, was and good on to growth of number on And if I what look your up really, 'XX guess CAGR growth story if impact to at manage basis I'm that up ability a going of your day forward. I -- this

Craig Billings Wynn Resorts, Limited

Well, look, Julie. this take one, I'll

have of to think work first, experience kind our during back and to So you COVID forward.

as emerge we we much in disciplined So COVID, how actually to costs. from of forced terms at were looked more we become

Now that continue had was we count. a the the And And in we carried on. making that experience have always best do we've the guest lower business. challenge FTE sure we delivered but to that, frankly, on that

even we're to last quarter and 'XX, So this even we quarter, $XXX down relative FTEs in in when printed nearly million EBITDA. in

ours. and variable minute OpEx To a ways your price And every benefits our of revenue. works per like is be lot our a of business, business in hotel of to day. a when it inflation, can point look the adjusted of now, directly of The at inflation related you on So two one day that's every room right?

we costs. And our manage to labor good feel ability so about

have major that's the players our we everybody than portion other business and that's and a Now of -- true down all one of the up strip.

And work, to staying they of cost are majority do be to vast of want about you an our consideration. or tipped, large so a folks where not and are that's important doing else a night up here. at fact, And in in want we're positions that building labor tipped But the number

the discipline, try feel quarter-to-quarter to on and Again, revenue our FTEs delivery we margins. manage we maximize the about we So with to great we our promise. don't maximize and a our particular manage margin brand

Brandt Montour

corporate of potentially you just the do as across pause 'XX unevenness every Excellent. planning the internal to follow-up. are a thinking just the there's on And hitting where there we're looking the gatherings and sort tech, button sectors, that different clients, about over planners things large talk your at people sales corporate day i.e., the given any folks get macro? then at and who that with When sense you phone quick

Craig Billings

Brian, do take to that? you want

Brian Gullbrants

Craig. Thanks, 'XX, something in to XXX,XXX; think is at and did it's real city-wise. I the it XX,XXX. standpoint did industry over telling just XXXX in an really from Sure. CES back look that's Brandt, large

of So -- tech business if certainly, ago, in component that is this as an a month, well international look that industry. the last happened at as over you a XXX,XXX. they international component then to had SEMA couple that But just strong weeks

the ever had. year most having we're So solid we've

and in having XXX. of are real January our to that's and nights soft revenue, with in despite and And We we're ahead ever group have a that both room going year Omicron. January best and February pacing February

think that There I and seeing industries performing city are both the positioned. So better and assume. at that we're Wynn are others, than would I well certain we're across

Craig Billings

than We've fallout et et fade to minor been any able tech, from mortgage, we've seen cetera, cetera. that more

Brian Gullbrants

nothing of Yes. a it's of We've couple cancellations, had norm. but out the

In normally fact, would we what see. it's kind of below

where So I should we're quite pacing. for are we where comfortable with pacing be, think what of We're ahead we're seeing we're encouraged by 'XX. we and very

Julie Cameron-Doe

you, now quarter. Thank and to you thank your everyone, talking to interest, and operator, will you, we that, we for the forward With call. look next close again

Operator

today's That conference. you. does conclude Thank

You may this disconnect at time.

Wynn Resorts, Limited (WYNN) 10 Nov 222022 Q3 Earnings call transcript