Wynn Resorts,
Q4 2022 Earnings Call
Feb 08, 2023, 4:15 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the Wynn Resorts fourth quarter 2022 earnings call. [Operator instructions] This call is being recorded. If you have any objections, you may disconnect at this time. I will now turn the line over to Julie Cameron-Doe, chief financial officer.
Please go ahead.
Julie Cameron-Doe -- Chief Financial Officer
Thank you, operator, and good afternoon, everyone. On the call with me today are Craig Billings, Brian Gullbrants, and Steve Weitman in Las Vegas. Also on the line are Ian Coughlan, Linda Chen, Frederic Luvisutto, and Jenny Holaday. I want to remind you that we may make forward-looking statements under safe harbor federal securities laws, and those statements may or may not go true.
I will now turn the call over to Craig Billings.
Craig Billings -- Chief Executive Officer
Thanks, Julie. Afternoon, everyone, and thanks for joining us. As we prepared for this call, I looked at an old analyst note that was published after our Q4 2019 earnings. The expectation for 2022 EBITDAR at Wynn Las Vegas in that note was $482 million.
Here we are three years in the global pandemic later and Wynn Las Vegas just printed $816 million of normalized adjusted property EBITDAR, $816 million. I'm confident that this is an all-time record for a stand-alone Las Vegas Strip property. And mind you, we did not deliver this result by nickel and diming on service standards and reducing staff to drive operating leverage. The team did it by focusing on what we do best.
Great products, great service, great programming, and it showed in our market share and pricing power. The Wynn Las Vegas team absolutely crushed it in 2022. Our business in Vegas is stronger and more relevant than it has ever been. I'll talk more about the fourth quarter in Vegas in our outlook in a moment.
Turning to several other significant events. I'd like to touch on our concession renewal and the reopening of Macau. I was in Macau for nearly three weeks in December. And after going through the then required quarantine, I was fortunate to attend the signing ceremony for our new concession.
I'm proud of the plan that we put forward as part of the concession renewal and believe that the capex and programming we proposed will be additive to our business there over the coming years. I would like to thank the government of the Macau for their faith in us. And importantly, I would like to thank the Wynn Macau team for their dedication to our business over the past three very difficult years. Fortunately, recent actions by both Macau and Mainland authorities to reopen the market give us great confidence that the difficulties are behind us in the near-term future there are much brighter.