LAS VEGAS–(April 25, 2013)–Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the first quarter ended March 31, 2013.
Net revenues for the first quarter of 2013 were $1,378.7 million, compared to $1,313.5 million in the first quarter of 2012. The revenue increase was driven by 4.4% higher revenues from our Macau Operations coupled with a 6.6% increase in revenues from our Las Vegas Operations. Adjusted property EBITDA (1) was $451.1 million for the first quarter of 2013, up 15.5% compared to $390.7 million in the first quarter of 2012.
On a US GAAP basis, net income attributable to Wynn Resorts for the first quarter of 2013 was $203.0 million, or $2.00 per diluted share, compared to net income attributable to Wynn Resorts of $140.6 million, or $1.23 per diluted share in the first quarter of 2012. Adjusted net income attributable to Wynn Resorts in the first quarter of 2013 was $205.6 million, or $2.03 per diluted share (adjusted EPS) (2) compared to adjusted net income attributable to Wynn Resorts of $151.9 million, or $1.33 per diluted share in the first quarter of 2012. In the first quarter of 2013, EPS was based on 101.4 million diluted shares compared to 114.0 million diluted shares outstanding in the first quarter of 2012, largely due to the redemption of Aruze USA, Inc.?s 24.5 million shares on February 18, 2012.
Wynn Resorts also announced today that it has approved a cash dividend for the quarter of $1.00 per common share. This dividend will be payable on May 23, 2013, to stockholders of record on May 9, 2013.
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