Summary by Futu AI
Wynn Resorts, Limited (Wynn Macau) announced on 7 May 2024 its controlling shareholder Wynn Resorts, Limited announced unaudited results for the first quarter ended 31 March 2024. The results showed increased operating income at Wynn Palace, Wynn Macau, Las Vegas operations and Encore Boston Harbor. Operating income of Wynn Macau increased from $2.307 million in the first quarter of 2023 to $4.117 million, while Wynn Palace's operating income increased from $3.694 million to $5.869 million. Mr. Pan Kwok-hung, Chief Executive Officer of Wynn Resorts, Limited, said that the company's strong business momentum in 2023 could continue into the first quarter of 2024, and posted an all-time high adjusted property EBITDAR. However, because Wynn Resorts, Limited's financial results are prepared according to U.S. accepted accounting principles and differ from the international financial reporting guidelines adopted by Wynn Macau, the two financial data cannot be directly compared. Wynn Macau reminds shareholders and potential investors that such unaudited financial results are not prepared or presented by Wynn Macau and should not rely on the earnings announcement.