Wynn Resorts Ltd (NASDAQ:WYNN) reported fourth-quarter financial results Thursday after the bell. Here’s a rundown of the report.

• Q4 Revenue: $1.84 billion, versus estimates of $1.77 billion

• Q4 Adjusted EPS: $2.42, versus estimates of $1.22

Operating revenue was flat on a year-over-year basis as revenue increased at Wynn Palace and at Las Vegas properties, but decreased at Wynn Macau and Encore Boston Harbor. Wynn invested $99 million in the fourth quarter into a joint venture building Wynn Al Marjan Island in the United Arab Emirates (UAE), which is expected to open in 2027.

“We delivered strong quarterly performance in Las Vegas on very tough comparables and drove healthy market share in Macau led by strength in both premium mass and VIP,” said Craig Billings, CEO of Wynn Resorts.

“In addition, construction of the Wynn Al Marjan Island project in the UAE continued to advance, and the thirty-fifth floor of the hotel tower was recently completed. We are confident the resort will be a ‘must see’ tourism destination in the UAE and will support strong long-term free cash flow growth.”

Related Link: Airbnb Shares Climb After Q4 Revenue Beats Estimates

Wynn said it repurchased approximately 2.14 million shares of its common stock during the quarter for $200.3 million. As of Dec. 31, the company had $813 million remaining under its share repurchase program. Wynn Resorts ended the fourth quarter with $2.43 billion in cash, and $10.54 billion in debt.

Wynn’s board declared a cash dividend of 25 cents per share, payable on March 5 to shareholders of record as of Feb. 24. The company’s management team is currently discussing the quarter on a conference call that kicked off at 4:30 p.m. ET.

WYNN Price Action: Wynn Resorts shares were volatile following the earnings release. After initially surging above $84 per share, the stock was approximately flat around $80.50 in after-hours trading at the time of publication, per Benzinga Pro.

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