Wynn Resorts
Q3 2022 Earnings Call
Nov 09, 2022, 4:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the Wynn Resorts third quarter 2022 earnings call. [Operator instructions] This call is being recorded. If you have any objections, you may disconnect at this time. And 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 and Brian Gullbrants 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 come true.
I will now turn the call over to Craig Billings.
Craig Billings -- Chief Executive Officer
Thanks, Julie. Good afternoon, everyone, and thanks for joining us today. Before I get into the quarter, I'd like to thank the cast, crew and producers of awakening, our news show in Las Vegas, which successfully opened on Monday. The show is yet another example of our willingness to innovate and push the envelope to drive the forward.
I'm incredibly proud of the team behind the shelf. I'll kick off in Las Vegas, where the team turned in a third quarter record of $196 million of EBITDA or approximately $207 million adjusted for lower-than-normal holds. We saw broad-based strength across casino, hotel, food and beverage and retail, all well above third quarter 2021 levels despite the difficult year-over-year comps. The comparison to third quarter 2019 is even more impressive with our EBITDA more than doubling on a 36% increase in revenue.
Our investment in people, facilities and programming and our team's deep sense of ownership continue to elevate in Las Vegas above our peers. This quarter once again highlights the benefit of that deliberate investment strategy. Looking ahead, encouraged that the strength we have experienced over the past several quarters has continued into the fourth quarter. In fact, our EBITDA during October was an all-time monthly record for the property.
Similarly, our forward-looking indicators also remain quite strong despite well-known macro concerns as room bookings are pacing at or above pre-COVID levels on substantially higher ADRs. Near term, we expect the normal seasonal pattern to hold during the remainder of Q4, with some of the usual softness surrounding Thanksgiving, followed by a strong close to the year in the latter half of December. Turning to Boston, like Vegas, Encore had a strong quarter, generating $61 million of EBITDA. We saw strength across the casino with record gross gaming revenue and on the non-gaming side with record hotel revenue driven by strength in both ADR and occupancy.