Wynn Resorts's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $1,632 Mil.
Wynn Resorts's quarterly Long-Term Capital Lease Obligation
increased
from Jun. 2023 ($1,611 Mil) to Sep. 2023 ($1,615 Mil) and
increased
from Sep. 2023 ($1,615 Mil) to Dec. 2023 ($1,632 Mil).
Wynn Resorts's annual Long-Term Capital Lease Obligation
increased
from Dec. 2021 ($115 Mil) to Dec. 2022 ($1,615 Mil) and
increased
from Dec. 2022 ($1,615 Mil) to Dec. 2023 ($1,632 Mil).
Wynn Resorts Long-Term Capital Lease Obligation Historical Data
The historical data trend for Wynn Resorts's Long-Term Capital Lease Obligation can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Wynn Resorts (NAS:WYNN) Long-Term Capital Lease Obligation Explanation
Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.
Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:
1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.
Wynn Resorts Long-Term Capital Lease Obligation Related Terms
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Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to open a new building next to its existing Wynn Palace resort in around 2028. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and Las Vegas, respectively.
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