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Segment Information | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company has identified its reportable segments based on factors such as geography, regulatory environment, the information reviewed by its chief operating decision maker, and the Company's organizational and management reporting structure. The Company has identified the following reportable segments: (i) Wynn Macau, representing the aggregate of Wynn Macau and Encore, an expansion at Wynn Macau, which are managed as a single integrated resort; (ii) Wynn Palace; (iii) Las Vegas Operations, representing the aggregate of Wynn Las Vegas, Encore, an expansion at Wynn Las Vegas, and the Retail Joint Venture, which are managed as a single integrated resort; (iv) Encore Boston Harbor; and (v) Wynn Interactive. For geographical reporting purposes, Wynn Macau, Wynn Palace, and Other Macau (which represents the assets of the Company's Macau holding company and other ancillary entities) have been aggregated into Macau Operations. The following tables present the Company's segment information (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Operating revenues |  |  |  |  |
Macau Operations: |  |  |  |  |
Wynn Palace |  |  |  |  |
Casino | $ | 1,471,280 |  |  | $ | 255,886 |  |  | $ | 677,917 |
Rooms | 201,783 |  |  | 40,079 |  |  | 69,022 |
Food and beverage | 104,566 |  |  | 35,546 |  |  | 47,985 |
Entertainment, retail and other(1) | 109,215 |  |  | 78,778 |  |  | 88,083 |
| 1,886,844 |  |  | 410,289 |  |  | 883,007 |
Wynn Macau |  |  |  |  |
Casino | 970,269 |  |  | 216,639 |  |  | 476,999 |
Rooms | 109,308 |  |  | 25,691 |  |  | 50,492 |
Food and beverage | 68,017 |  |  | 25,334 |  |  | 32,420 |
Entertainment, retail and other(1) | 65,940 |  |  | 43,585 |  |  | 66,104 |
| 1,213,534 |  |  | 311,249 |  |  | 626,015 |
Total Macau Operations | 3,100,378 |  |  | 721,538 |  |  | 1,509,022 |
Las Vegas Operations: |  |  |  |  |
Casino | 628,185 |  |  | 535,279 |  |  | 426,440 |
Rooms | 784,385 |  |  | 651,291 |  |  | 425,777 |
Food and beverage | 770,401 |  |  | 702,515 |  |  | 489,587 |
Entertainment, retail and other(1) | 297,635 |  |  | 243,051 |  |  | 161,877 |
Total Las Vegas Operations | 2,480,606 |  |  | 2,132,136 |  |  | 1,503,681 |
Encore Boston Harbor: |  |  |  |  |
Casino | 648,668 |  |  | 624,738 |  |  | 552,064 |
Rooms | 90,195 |  |  | 85,078 |  |  | 47,280 |
Food and beverage | 85,653 |  |  | 82,818 |  |  | 63,919 |
Entertainment, retail and other(1) | 41,270 |  |  | 38,439 |  |  | 28,260 |
Total Encore Boston Harbor | 865,786 |  |  | 831,073 |  |  | 691,523 |
Wynn Interactive: |  |  |  |  |
Entertainment, retail and other | 85,127 |  |  | 72,078 |  |  | 59,438 |
Total Wynn Interactive | 85,127 |  |  | 72,078 |  |  | 59,438 |
Total operating revenues | $ | 6,531,897 |  |  | $ | 3,756,825 |  |  | $ | 3,763,664 |
(1)Includes lease revenue accounted for under lease accounting guidance. For more information on leases, see Note 16, "Leases".
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Adjusted Property EBITDAR(1) |  |  |  |  |
Macau Operations: |  |  |  |  |
Wynn Palace | $ | 615,846 |  |  | $ | (96,557) |  |  | $ | 91,646 |
Wynn Macau | 338,091 |  |  | (124,047) |  |  | 4,209 |
Total Macau Operations | 953,937 |  |  | (220,604) |  |  | 95,855 |
Las Vegas Operations | 946,243 |  |  | 801,095 |  |  | 530,878 |
Encore Boston Harbor | 257,409 |  |  | 243,386 |  |  | 210,068 |
Wynn Interactive | (42,646) |  |  | (98,490) |  |  | (267,360) |
Total | 2,114,943 |  |  | 725,387 |  |  | 569,441 |
Other operating expenses |  |  |  |  |
Pre-opening | 9,468 |  |  | 20,643 |  |  | 6,821 |
Depreciation and amortization | 687,270 |  |  | 692,318 |  |  | 715,962 |
Gain on EBH Transaction, net | — |  |  | (181,989) |  |  | — |
Impairment of goodwill and intangible assets | 94,490 |  |  | 48,036 |  |  | 10,254 |
Property charges and other(2) | 130,877 |  |  | 65,116 |  |  | 40,508 |
Corporate expenses and other | 146,430 |  |  | 102,539 |  |  | 95,199 |
Stock-based compensation | 64,515 |  |  | 67,627 |  |  | 95,238 |
Triple-net operating lease rent expense | 141,722 |  |  | 11,773 |  |  | — |
Total other operating expenses | 1,274,772 |  |  | 826,063 |  |  | 963,982 |
Operating income (loss) | 840,171 |  |  | (100,676) |  |  | (394,541) |
Other non-operating income and expenses |  |  |  |  |
Interest income | 175,785 |  |  | 29,758 |  |  | 3,213 |
Interest expense, net of amounts capitalized | (751,509) |  |  | (650,885) |  |  | (605,562) |
Change in derivatives fair value | 45,098 |  |  | 15,956 |  |  | 11,360 |
Loss on debt financing transactions | (12,683) |  |  | — |  |  | (2,060) |
Other | (11,479) |  |  | 5,811 |  |  | (23,926) |
Total other non-operating income and expenses | (554,788) |  |  | (599,360) |  |  | (616,975) |
Income (loss) before income taxes | 285,383 |  |  | (700,036) |  |  | (1,011,516) |
Benefit (provision) for income taxes | 496,834 |  |  | (9,332) |  |  | (474) |
Net income (loss) | 782,217 |  |  | (709,368) |  |  | (1,011,990) |
Net (income) loss attributable to noncontrolling interests | (52,223) |  |  | 285,512 |  |  | 256,204 |
Net income (loss) attributable to Wynn Resorts, Limited | $ | 729,994 |  |  | $ | (423,856) |  |  | $ | (755,786) |
(1)"Adjusted Property EBITDAR" is net income (loss) before interest, income taxes, depreciation and amortization, pre-opening expenses, gain on EBH Transaction, net, impairment of goodwill and intangible assets, property charges and other, triple-net operating lease rent expense related to Encore Boston Harbor, 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 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 pre-opening 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 (loss) 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 (loss), 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 the year ended December 31, 2023, includes $94.9 million related to the Company's decision to cease operating Wynn Interactive's online sports betting and iGaming platform in certain jurisdictions.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Capital expenditures |  |  |  |  |
Macau Operations: |  |  |  |  |
Wynn Palace | $ | 66,262 |  |  | $ | 31,946 |  |  | $ | 37,169 |
Wynn Macau | 25,602 |  |  | 13,003 |  |  | 25,249 |
Total Macau Operations | 91,864 |  |  | 44,949 |  |  | 62,418 |
Las Vegas Operations | 187,150 |  |  | 226,386 |  |  | 168,788 |
Encore Boston Harbor | 70,578 |  |  | 20,187 |  |  | 38,730 |
Wynn Interactive | 4,620 |  |  | 4,925 |  |  | 13,624 |
Corporate and other | 88,581 |  |  | 3,680 |  |  | 7,097 |
Total | $ | 442,793 |  |  | $ | 300,127 |  |  | $ | 290,657 |
| December 31,
| 2023 |  | 2022 |  | 2021
Assets |  |  |  |  |
Macau Operations: |  |  |  |  |
Wynn Palace | $ | 2,936,264 |  |  | $ | 2,884,073 |  |  | $ | 3,122,424 |
Wynn Macau | 1,864,211 |  |  | 1,430,051 |  |  | 1,032,521 |
Other Macau | 886,175 |  |  | 268,017 |  |  | 1,173,913 |
Total Macau Operations | 5,686,650 |  |  | 4,582,141 |  |  | 5,328,858 |
Las Vegas Operations | 3,173,247 |  |  | 3,168,597 |  |  | 3,063,897 |
Encore Boston Harbor | 2,006,565 |  |  | 2,080,424 |  |  | 2,193,117 |
Wynn Interactive | 81,231 |  |  | 213,837 |  |  | 287,805 |
Corporate and other | 3,048,530 |  |  | 3,370,101 |  |  | 1,657,149 |
Total | $ | 13,996,223 |  |  | $ | 13,415,100 |  |  | $ | 12,530,826 |
| December 31,
| 2023 |  | 2022 |  | 2021
Long-lived assets |  |  |  |  |
Macau | $ | 3,191,134 |  |  | $ | 3,382,284 |  |  | $ | 3,678,236 |
United States | 5,585,943 |  |  | 5,570,249 |  |  | 5,604,531 |
Total | $ | 8,777,077 |  |  | $ | 8,952,533 |  |  | $ | 9,282,767 |

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