Wynn Resorts announced preliminary expectations of its financial results for the fourth quarter and year ended December 31, 2015.
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Macau operations: In the fourth quarter of 2015, net revenues are expected to be in the range of $552 million to $560 million, compared to $761.2 million generated in the fourth quarter of 2014.
On a GAAP basis, operating income for the fourth quarter of 2015 is expected to be in the range of $75 million to $83 million, compared to $157.6 million for the fourth quarter of 2014. Adjusted property EBITDA is expected to be in the range of $156 million to $164 million in the fourth quarter of 2015, compared to $241.2 million for the fourth quarter of 2014.
For the full year, net revenues are expected to be in the range of $2,459 million to $2,467 million, compared to $3,796.8 million generated in 2014.
On a GAAP basis, operating income for 2015 is expected to be in the range of $382 million to $390 million, compared to $895.2 million in 2014. For 2015, adjusted property EBITDA is expected to be in the range of $705 million to $713 million, compared to $1,258.1 million for 2014.
Las Vegas operations
In the fourth quarter of 2015, net revenues are expected to be in the range of $387 million to $395 million, compared to $376.8 million generated in the fourth quarter of 2014.
On a GAAP basis, operating income for the fourth quarter of 2015 is expected to be in the range of $56 million to $64 million, compared to $51.6 million for the fourth quarter of 2014. Adjusted property EBITDA is expected to be between $123 million and $131 million for the fourth quarter of 2015, compared to $111.2 million for the fourth quarter of 2014.
For the full year, net revenues are expected to be in the range of $1,609 million to $1,617 million, compared to $1,636.9 million generated in 2014.
On a GAAP basis, operating income for 2015 is expected to be in the range of $215 million to $223 million, compared to $270.5 million in 2014. For 2015, adjusted property EBITDA is expected to be in the range of $473 million to $481 million, compared to $515.2 million for 2014. ■