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Segment Information (Tables)
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Summary of Operations by Segment
The following tables present the Company's segment information (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Operating revenues
Macau Operations:
Wynn Palace
Casino $212,067 $(11,428)$397,976 $196,148 
Rooms20,883 2,431 37,895 22,141 
Food and beverage13,805 4,231 25,477 17,529 
Entertainment, retail and other (1)
23,616 13,484 46,349 32,413 
270,371 8,718 507,697 268,231 
Wynn Macau
Casino 142,419 (3,524)281,346 186,604 
Rooms13,427 2,631 28,129 18,542 
Food and beverage8,559 3,684 15,992 13,215 
Entertainment, retail and other (1)
19,623 9,097 38,212 23,016 
184,028 11,888 363,679 241,377 
            Total Macau Operations454,399 20,606 871,376 509,608 
Las Vegas Operations:
Casino 112,775 24,365 192,678 95,660 
Rooms93,785 12,353 133,546 118,458 
Food and beverage112,858 16,092 152,935 122,071 
Entertainment, retail and other (1)
35,648 12,076 54,623 52,521 
             Total Las Vegas Operations355,066 64,886 533,782 388,710 
Encore Boston Harbor:
Casino 135,485 — 246,964 101,790 
Rooms9,670 — 14,385 10,955 
Food and beverage13,920 — 23,247 20,606 
Entertainment, retail and other (1)
6,166 206 10,735 7,745 
            Total Encore Boston Harbor165,241 206 295,331 141,096 
Corporate and other:
Entertainment, retail and other15,407 — 26,306 — 
           Total Corporate and other15,407  26,306  
Total operating revenues$990,113 $85,698 $1,726,795 $1,039,414 
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Adjusted Property EBITDA (2)
   Macau Operations:
Wynn Palace$53,555 $(110,908)$80,924 $(100,732)
Wynn Macau14,086 (82,646)30,642 (63,438)
              Total Macau Operations67,641 (193,554)111,566 (164,170)
    Las Vegas Operations (3)
133,222 (75,564)161,303 (97,641)
    Encore Boston Harbor (4)
46,916 (53,779)77,279 (66,415)
    Corporate and other(40,899)— (84,368)— 
Total206,880 (322,897)265,780 (328,226)
Other operating expenses
Pre-opening2,495 2,186 4,122 4,737 
Depreciation and amortization183,307 179,266 368,428 358,012 
Property charges and other5,651 6,567 11,268 33,796 
Corporate expenses and other (5)
19,841 (8,984)37,762 15,208 
Stock-based compensation25,107 21,084 49,453 30,448 
Total other operating expenses236,401 200,119 471,033 442,201 
Operating loss(29,521)(523,016)(205,253)(770,427)
Other non-operating income and expenses
Interest income720 3,983 1,624 11,936 
Interest expense, net of amounts capitalized (150,424)(133,218)(303,276)(262,045)
Change in derivatives fair value972 (3,294)5,381 (18,954)
Loss on extinguishment of debt— (619)(1,322)(1,462)
Other5,553 2,233 (5,540)12,568 
Total other non-operating income and expenses(143,179)(130,915)(303,133)(257,957)
Loss before income taxes(172,700)(653,931)(508,386)(1,028,384)
Provision for income taxes(697)(80,938)(1,190)(156,738)
Net loss(173,397)(734,869)(509,576)(1,185,122)
Net loss attributable to noncontrolling interests42,028 97,305 97,229 145,521 
Net loss attributable to Wynn Resorts, Limited$(131,369)$(637,564)$(412,347)$(1,039,601)
(1) Includes lease revenue accounted for under lease accounting guidance. For more information on leases, see Note 14, "Leases".
(2) "Adjusted Property EBITDA" is net loss before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on extinguishment of debt, and other non-operating income and expenses. Adjusted Property EBITDA 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 EBITDA 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. We also present Adjusted Property EBITDA 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 EBITDA 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 EBITDA 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 EBITDA should not be considered as an alternative to operating income as an indicator of our 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 EBITDA does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. We have significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, our calculation of Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited.
(3) For the three months ended June 30, 2020, excluded $56.4 million of expense accrued during the first quarter of 2020 related to the Company's commitment to pay salary, tips, and benefits continuation for all of its U.S. employees for the period from April 1 through May 15, 2020.
(4) For the three months ended June 30, 2020, excluded $19.3 million of expense accrued during the first quarter of 2020 related to the Company's commitment to pay salary, tips, and benefits continuation for all of its U.S. employees for the period from April 1 through May 15, 2020.
(5) For the three and six months ended June 30, 2020, included $27.7 million net gain recorded in relation to a derivative litigation settlement.
Summary of Assets by Segment
June 30,
2021
December 31,
2020
Assets
Macau Operations:
Wynn Palace$3,255,389 $3,393,790 
Wynn Macau1,013,148 1,202,709 
Other Macau1,475,563 2,026,098 
              Total Macau Operations5,744,100 6,622,597 
Las Vegas Operations3,017,361 2,992,870 
Encore Boston Harbor2,257,729 2,300,016 
Corporate and other2,003,475 1,954,064 
Total$13,022,665 $13,869,547