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Total Expenses were $6.5 Billion, with Operating Expenses of $5.7 Billion, and $177 million in Tax Expenses
Breakdown of Wynn Resorts' Total Expenses in 2019 :
Total $6.5 Bil
Operating Expenses $5.7 Bil
Other Expenses $0.4 Bil
Non-Controlling Interests $0.2 Bil
Income Tax $0.2 Bil
Wynn Resorts' Total Expenses Have Increased From $4.1 Billion in 2016 to $6.5 Billion in 2019
% Change In Total Expenses
Wynn Resorts' total expenses have grown from $4.1 billion in 2016 to about $6.5 billion in 2019.
Below, we take a look at how the company's key expense components have trended and the key reasons for the change.
Wynn Resorts Revenues: How Does Wynn Resorts Make Money?
Wynn Resorts Valuation: Expensive or Cheap?
Our complete set of analyses on Wynn Resorts
1. Operating Expenses:
Wynn Resorts' Operating Expenses include 4 key components:
C. Food and Beverage
D. Entertainment, Retail and Other
E. General and Administrative
Breakdown of Wynn Resorts' Operating Expenses in 2019 :
Total $5.7 Bil (100%)
A. Casino $2.9 Bil (51%)
B. Rooms $276 Mil (5%)
C. Food and Beverage $696 Mil (12%)
D. Entertainment and Retail $170 Mil (3%)
E. General and Administrative $897 Bil (15%)
(A) Casino expenses have increased from $1.8 billion in 2016 to $2.9 billion in 2019. As a % of Casino Revenues, it has decreased from 64.3% in 2016 to 63.9% in 2019
Casino Expenses as % Casino Revenues
(B) Rooms expenses have increased from $207 million in 2016 to $276 million in 2019. As a % of Rooms Revenues, it has decreased from 34.7% in 2016 to 34.3% in 2019
Room Expenses as % Room Revenues
(C) Food and Beverage expenses have increased from $499 million in 2016 to $696 million in 2019. As a % of F&B Revenues, it has increased from 78.6% in 2016 to 85.1% in 2019
Food and Beverage Expenses
Food & Beverage Expenses as % Food & Beverage Revenues
(D) Entertainment & Retail expenses have decreased from $179 million in 2016 to $170 million in 2019. As a % of Entertainment & Retail Revenues, it has decreased from 49.2% in 2016 to 41.1% in 2019
Entertainment, Retail and Other Expenses
Entertainment & Retail Expenses as % Entertainment & Retail Revenues
(E) General and Administrative Expenses have increased from $548 million in 2016 to $897 million in 2019. As a % of Total Revenues, it has increased from 12.6% in 2016 to 13.6% in 2019
General and Administrative Expenses
General and Admininstrative Expenses as % Total Revenues
2. Other Expenses:
Other Expenses have increased from $211 million in 2016 to $390 million in 2019, driven by higher interest expenses from growing long-term debt
Other Expenses as % Long-Term Debt
3. Non Controlling Interests:
Non-Controlling Interest Expense has increased from $60 million in 2016 to $188 million in 2019, driven by growing income from Macau properties.
Non Controlling Interest
Non-Controlling Interests as % Net Income
4. Tax Expense:
The company benefited from the change in taxation laws in the last two years.
Income Tax Rate
How Important Is Macau's VIP Gaming For Wynn Resorts?
Macau Gaming Market: A Detailed Look At Trends
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2. How to monitor your scenario vs. actual results
Once you've saved your forecast, you can "rename" your scenario by clicking on the gear icon next to the scenario (on the left panel). For more info, see this quick, 30-sec video (look at the 9 sec mark)
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