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Segment Information
12 Months Ended
Dec. 31, 2020
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):
Years Ended December 31,
202120202019
Operating revenues
Macau Operations:
Wynn Palace
Casino$677,917 $368,284 $2,139,756 
Rooms69,022 46,110 174,576 
Food and beverage47,985 43,198 117,376 
Entertainment, retail and other (1)
88,083 47,828 111,986 
883,007 505,420 2,543,694 
Wynn Macau
Casino476,999 344,595 1,796,209 
Rooms50,492 39,111 110,387 
Food and beverage32,420 33,094 81,576 
Entertainment, retail and other (1)
66,104 57,857 81,857 
626,015 474,657 2,070,029 
Total Macau Operations1,509,022 980,077 4,613,723 
Las Vegas Operations:
Casino426,440 236,826 394,104 
Rooms425,777 202,073 483,055 
Food and beverage489,587 216,426 558,782 
Entertainment, retail and other (1)
161,877 92,622 197,516 
Total Las Vegas Operations1,503,681 747,947 1,633,457 
Encore Boston Harbor:
Casino552,064 287,525 243,855 
Rooms47,280 20,679 36,144 
Food and beverage63,919 36,866 61,088 
Entertainment, retail and other (1)
28,260 16,596 22,832 
Total Encore Boston Harbor 691,523 361,666 363,919 
Wynn Interactive:
Entertainment, retail and other59,438 6,171  
Total Wynn Interactive59,438 6,171  
Total operating revenues$3,763,664 $2,095,861 $6,611,099 
Years Ended December 31,
202120202019
Adjusted Property EBITDA (2)
Macau Operations:
Wynn Palace$91,646 $(149,647)$729,535 
Wynn Macau4,209 (87,189)648,837 
              Total Macau Operations95,855 (236,836)1,378,372 
Las Vegas Operations530,878 (56,356)413,886 
Encore Boston Harbor210,068 (23,762)23,150 
Wynn Interactive(267,360)(7,351) 
Total569,441 (324,305)1,815,408 
Other operating expenses
Pre-opening6,821 6,506 102,009 
Depreciation and amortization715,962 725,502 624,878 
Property charges and other50,762 67,455 20,286 
Corporate expenses and other (3)
95,199 46,023 150,228 
Stock-based compensation (4)
95,238 62,254 39,702 
Total other operating expenses963,982 907,740 937,103 
Operating income (loss)(394,541)(1,232,045)878,305 
Other non-operating income and expenses
Interest income3,213 15,384 24,449 
Interest expense, net of amounts capitalized (605,562)(556,474)(414,030)
Change in derivatives fair value11,360 (13,060)(3,228)
(Loss) gain on extinguishment of debt(2,060)(4,601)(12,437)
Other(23,926)28,521 15,159 
Total other non-operating income and expenses(616,975)(530,230)(390,087)
Income (loss) before income taxes(1,011,516)(1,762,275)488,218 
       Provision for income taxes(474)(564,671)(176,840)
Net income (loss)(1,011,990)(2,326,946)311,378 
       Net income (loss) attributable to noncontrolling interests256,204 259,701 (188,393)
Net income (loss) attributable to Wynn Resorts, Limited$(755,786)$(2,067,245)$122,985 
(1)Includes lease revenue accounted for under lease accounting guidance. For more information on leases, see Note 15, "Leases".
(2)"Adjusted Property EBITDA" is net income (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. We use Adjusted Property EBITDA to manage the operating results of our segments. 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. The Company also presents 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 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 EBITDA should not be considered as an alternative to operating income 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 EBITDA 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, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, the Company's 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 year ended December 31, 2020, includes a $30.2 million net gain recorded in relation to a derivative litigation settlement. For the year ended December 31, 2019, includes a $35.0 million nonrecurring regulatory expense.
(4)Excludes $0.7 million included in pre-opening expenses for the year ended December 31, 2019.
Years Ended December 31,
202120202019
Capital expenditures
Macau Operations:
Wynn Palace$37,169 $46,717 $66,545 
Wynn Macau25,249 49,845 142,112 
Total Macau Operations62,418 96,562 208,657 
Las Vegas Operations168,788 85,882 96,928 
Encore Boston Harbor38,730 61,342 471,381 
Wynn Interactive13,624 5,603 — 
Corporate and other7,097 40,726 286,327 
Total$290,657 $290,115 $1,063,293 

December 31,
202120202019
Assets
Macau Operations:
Wynn Palace$3,122,424 $3,393,790 $3,734,210 
Wynn Macau1,032,521 1,202,709 1,656,625 
Other Macau1,173,913 2,026,098 1,023,411 
Total Macau Operations5,328,858 6,622,597 6,414,246 
Las Vegas Operations3,063,897 2,992,870 2,806,972 
Encore Boston Harbor2,193,117 2,300,016 2,456,667 
Wynn Interactive287,805 265,945 — 
Corporate and other1,657,149 1,688,119 2,193,396 
Total$12,530,826 $13,869,547 $13,871,281 

December 31,
202120202019
Long-lived assets
Macau$3,678,236 $3,989,797 $4,321,970 
United States5,604,531 5,738,343 5,909,847 
Total$9,282,767 $9,728,140 $10,231,817