
	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating revenues
Macau Operations:
Wynn Palace
Casino	$	418,043	$	418,043	$	1,336,788	$	1,054,007
Rooms	49,145		54,309		153,287		151,311
Food and beverage	31,506		26,215		93,405		75,028
Entertainment, retail and other (1)	21,096		26,206		71,260		82,140
	519,790		524,773		1,654,740		1,362,486
Wynn Macau
Casino	296,781		230,294		923,851		649,627
Rooms	23,755		31,673		76,116		79,774
Food and beverage	19,524		18,287		60,546		47,255
Entertainment, retail and other (1)	11,897		14,762		40,457		50,679
	351,957		295,016		1,100,970		827,335
Total Macau Operations	871,747		819,789		2,755,710		2,189,821

Las Vegas Operations:
Casino	145,186		168,130		410,023		460,606
Rooms	187,123		178,518		617,071		541,392
Food and beverage	191,776		203,066		593,804		570,695
Entertainment, retail and other (1)	83,087		69,252		251,476		211,109
Total Las Vegas Operations	607,172		618,966		1,872,374		1,783,802

Encore Boston Harbor:
Casino	158,744		155,986		478,504		488,204
Rooms	24,742		24,838		70,226		65,895
Food and beverage	19,791		19,864		63,184		64,101
Entertainment, retail and other (1)	10,844		9,715		32,599		30,441
Total Encore Boston Harbor	214,121		210,403		644,513		648,641

Corporate and other:
Entertainment, retail and other	283		22,778		16,567		69,173
Total Corporate and other	283		22,778		16,567		69,173

Total operating revenues	$	1,693,323	$	1,671,936	$	5,289,164	$	4,691,437


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Adjusted Property EBITDAR (1)
Macau Operations:
Wynn Palace	$	162,283	$	177,048	$	549,112	$	444,713
Wynn Macau	100,594		77,939		333,691		212,274
Total Macau Operations	262,877		254,987		882,803		656,987
Las Vegas Operations	202,720		219,740		679,315		675,458
Encore Boston Harbor	63,018		60,498		188,284		193,016
Corporate and other	(938)		(4,864)		(4,535)		(40,896)
Total	527,677		530,361		1,745,867		1,484,565
Other operating expenses
Pre-opening	2,457		867		6,050		6,822
Depreciation and amortization	156,273		171,969		507,611		510,743
Impairment of goodwill and intangible assets	—		93,990		—		94,490
Property charges and other (2)	150,475		114,288		206,238		132,265
Corporate expenses and other	36,184		35,104		109,799		102,342
Stock-based compensation	13,670		16,144		44,206		49,139
Triple-net operating lease rent expense	35,381		35,404		106,127		106,318
Total other operating expenses	394,440		467,766		980,031		1,002,119
Operating income	133,237		62,595		765,836		482,446
Other non-operating income and expenses
Interest income	30,729		46,534		105,785		130,854
Interest expense, net of amounts capitalized	(167,922)		(188,571)		(524,922)		(566,554)
Change in derivatives fair value	(5,523)		(50,637)		(7,920)		(3,255)
(Loss) gain on debt financing transactions	(109)		2,928		(1,670)		(12,683)
Other	21,300		3,861		25,323		(19,794)
Total other non-operating income and expenses	(121,525)		(185,885)		(403,404)		(471,432)
Income (loss) before income taxes	11,712		(123,290)		362,432		11,014
(Provision) benefit for income taxes	(17,127)		2,749		(45,076)		(2,574)
Net income (loss)	(5,415)		(120,541)		317,356		8,440
Net income (loss) attributable to noncontrolling interests	(26,638)		3,863		(93,250)		(7,602)
Net income (loss) attributable to Wynn Resorts, Limited	$	(32,053)	$	(116,678)	$	224,106	$	838

(1) "Adjusted Property EBITDAR" is net income (loss) before interest, income taxes, depreciation and amortization, pre-opening expenses, 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 (gain) 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 preopening 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 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, 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.

(2) For each of the three and nine months ended September 30, 2024, includes $130.0 million of forfeitures pursuant to the NPA, the Company's $9.4 million contribution towards a legal settlement, $12.5 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 nine months ended September 30, 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.