Wynn CEO on consumer outlook, return of Macao and a casino in the Middle East

CONTESSA BREWER IS STANDING BY WITH THE CEO FOR A CNBC EXCLUSIVE. CONTESSA >>> SCOTT, THANK YOU WITH ME IS CEO CRAIG BILLINGS. YOU WOWED THE ANALYSTS WITH THE EARNINGS CALL LAST NIGHT A LOT OF UPSIDE. FIRST IN VEGAS WHERE YOU SET A NEW ALL-TIME RECORD AND SAID NORTH AMERICA IS RUNNING FULL STEAM AHEAD. IS THERE STILL ROOM FOR VEGAS TO EXPAND WITH THE CURRENT STATE OF RECESSION WORRIES, INFLATION AND THESE BIG MACROECONOMIC CONCERNS >> A SHOUT OUT TO THE VEGAS TEAM THEY HAD AN INCREDIBLE YEAR. WE DON'T CONTROL OUR MACRO ENVIRONMENT. THERE'S MACRO RISK THAT'S OUT THERE. I THINK WERE YOU TALKING ABOUT IT EARLIER BUT WHAT WE DO HAVE IS A WHOLE BUNCH OF TAIL WINDS WE BRING INTO 2023. WE HAVE GROUP BOOKINGS THAT WILL SET AN ALL-TIME RECORD IN 2023 WE HAVE F1 LATE IN THE YEAR. WE OPENED A NEW SHOW "AWAKENING" THAT WILL BE A SIGNIFICANT DRAW TO THE BUSINESS AND WE HAVE INTERNATIONAL TRAVEL THAT WE DIDN'T SEE IN 2022 SO THERE'S A LOT STILL TO COME, BUT THE MACRO -- YOUR GUESS IS AS GOOD AS OURS. >> YOU CATER TO A HIGH-END CUSTOMER DO YOU THINK THAT INSULATES YOU FROM WHATEVER THE YOU COME DOWN THE TURNPIKE >> TO A CERTAIN EXTENT CUSTOMERS TEND TO BE MUCH MORE RESILIENT THROUGH THE ECONOMIC CYCLE. AND I THINK THAT IS A BENEFIT TO US >> I KNOW IT'S EARLY, BUT THE RESULTS FROM MACAO OVER CHINESE NEW YEAR WERE ASTONISHING. HOW MUCH PEOPLE PUT DOWN TO EXCHANGE FOR CHIPS AND THINGS LIKE THAT, THAT IT HIT 95% OF 2019 LEVELS OVER THAT SAME PERIOD YOU'RE KNOWN, THOUGH, FOR YOUR VIP PLAY IS YOUR DEMOGRAPHIC GOING TO SHIFT POST PANDEMIC TO A MORE MASS CUSTOMER? >> WE BEGAN TO SHIFT WITH THE OPENING OF PALACE. SOME FOLKS UNDERSTOOD THAT AND SOME FOLKS DIDN'T. SO IN JANUARY WE HAD MARKET SHARE THAT WAS CONSISTENT WITH THE WHOLE OF 2019 YET THERE'S NO JUNKETS. I FELT A SUBTLE VINDICATION IN THAT, TO BE PERFECTLY HONEST THE CUSTOMER IS MASS ORIENTED NOW. WE DID SEE GROWTH IN OUR DIRECT VIP PROGRAM, THOSE THAT COME DIRECTLY TO US, AND IT PERFORMED VERY WELL DURING CHINESE NEW YEAR AS WELL >> ARE YOU OPTIMISTIC ABOUT THE REST OF 2023 CHINESE NEW YEAR IS ALWAYS GANGBUSTERS. >> IT HAS BEEN ABOVE EXPECTATIONS FOR A COMPARABLE PERIOD IN 2019, 2018, ET CETERA. WHICH I THINK BODES WELL THE EXPLOSIVE RETURN OF CUSTOMER DEMAND IN MACAO DOES MAKE US BULLISH BUT I WILL CAVEAT THAT AND SAY IT'S ONLY BEEN A MONTH >> TALK TO ME ABOUT YOUR BALANCE SHEET AND HOW YOU'RE SET UP GOING INTO ANOTHER BIG INVE INVESTMENT, A PROJECT IN THE MIDDLE EAST. >> SYSTEM WIDE WE HAVE A LITTLE OVER $4 BILLION IN LIQUIDITY THE GREAT THING ABOUT THE OPPORTUNITY IN THE MIDDLE EAST IS THAT WE'RE ACTUALLY ONLY 40% OF THE EQUITY AND THEN WE HAVE A MANAGEMENT FEE ON TOP OF THAT. OUR EQUITY CHECK WILL BE RELATIVELY LIGHT. >> AND IT HAS A POTENTIAL TO BE A HUGE GAMING DESTINATION GIVEN THE MONEY IN THE MIDDLE EAST >> YEAH. IT'S AN INTERESTING MARKET LAS VEGAS IS INCREDIBLY UNIQUE BECAUSE IT'S ONE OF THE FEW GAMING MARKETS WHERE YOU HAVE MULTIPLE CUSTOMER MOTIVATIONS. THERE'S A GAMING MOTIVATION, FOOD AND BEVERAGE. MOST AREN'T THAT WAY. >> WE'LL SEE HOW THAT ONE COMES OUT. CRAIG, GREAT TO BE HERE WITH YOU. THANKS FOR GIVING US THE TIME. SCOTT, EXCITING TIMES IN LAS VEGAS. THEY KEEP SETTING RECORDS. >> NO DOUBT AND THE STOCKS ARE RUNNING. THANK YOU FOR BRINGING THAT'S CNBC EXCLUSIVE INTERVIEW TO "THE HALFTIME REPORT. JIMMY, YOU'RE THE ONE TALKING ABOUT THESE FOR A WHILE, WHAT JOE TERRANOVA COINED YESTERDAY DINOSAURS IN THE DESERT. THEY'RE GROWLING BIG TIME TODAY. >> I'M GROWLING, NOT THE DINOSAURS. BEING ABLE TO INVEST WITH A GUY LIKE CRAIG BILLINGS, AND I'M SERIOUS. AS AN INVESTOR WHEN YOU GET THE STRAIGHT TALK FROM A CEO THAT IS SO VALUABLE. I CAN'T PUT A PRICE TAG ON IT. HE IS TELLING US FOR THE THIRD QUARTER IN A ROW THAT ALL THESE MACRO WORRIES, HE JUST DOESN'T SEE IT I DON'T WANT TO KEEP BEATING THIS DRUM, BUT I HAVE TO THREE QUARTERS IN A ROW HE'S SAYING WE'RE AWARE OF THE MACRO CONCERNS BUT BOOKINGS AR