Julie Cameron-Doe
Chief Financial Officer at Wynn Resorts
Thank you, Craig. At Wynn Las Vegas, we generated a fourth quarter record of $219.3 million in adjusted property EBITDAR on $585.5 million of operating revenue during the quarter. Lower-than-normal hold negatively impacted EBITDAR by around $10.5 million in Q4. Our hotel occupancy was 89.9% in the quarter, up 350 basis points year-over-year and up 50 basis points versus Q4 2019. Importantly, we've stayed true to our luxury brand and continue to compete on quality of product and service experience with our overall ADR reaching a record $492 during Q4 2022, up 11.8% versus Q4 2021 and 53% above Q4 2019 levels.
Our other non-gaming businesses saw broad-based strength across F&B, entertainment and retail, which were up nicely year-over-year and also well above pre-pandemic levels. In the casino, our Q4 2022 slot handle increased 20.9% year-over-year and was 69% of Q4 2019 levels. Similarly, our table drop was up 1.1% year-over-year and was 43% above Q4 2019 levels despite still suppressed international play during the quarter due to COVID-related travel challenges., The team in Vegas has done a great job of controlling costs without negatively impacting the guest experience, delivering adjusted property EBITDAR margin of 37.4% in the quarter.
On a hold-normalized basis, our EBITDAR margin was up approximately 1,300 basis points compared to Q4 2019. Opex, excluding gaming tax per day was $3.8 million in Q4 2022, up 25% compared to Q4 2019 levels but well below the 59% increase in operating revenue. In Boston, before getting into the details, I'd like to point out that following the closing of the sale-leaseback transaction on December 1, we're now reporting adjusted profit to EBITDA for this business.
In Q4 2022, we generated adjusted property EBITDAR of $63.3 million with EBITDAR margin of 29%. We saw broad-based strength across casino and non-gaming during the quarter. In the casino, we generated $190 million of GGR, a property record with strength in both tables and slots. Our non-gaming revenue grew 13% year-over-year to a record $56.8 million with particular strength in the hotels, driven by 93.9% occupancy and a $404 ADR.
We've stayed very disciplined on the cost side with opex, excluding gaming tax per day of approximately $1.17 million in Q4 2022. This was a decrease of over 8% compared to $1.3 million per day in Q4 2019 and up modestly relative to Q3 2022. As we've discussed on prior calls, the year-over-year EBITDAR and opex comps were impacted by a combination of contractual labor agreements, which added around $45,000 per day to our opex base beginning late in Q2 2022, along with a nonrecurring benefit of $2 million in Q4 last year.
We're well-positioned to drive strong operating leverage as we continue to grow the top line over time. Our Macau operations delivered an EBITDA loss of $59.1 million in the quarter on $190.3 million of operating revenues, lower than normal hold negatively impacted EBITDAR by around $25 million in Q4. While the COVID situation in the region was challenging during Q4, as Craig noted, we were encouraged by the meaningful uptick in visitation and demand we experienced during the recent Chinese holiday period.
Our opex, excluding gaming tax, was approximately $2 million per day in Q4, a decrease compared to $2.4 million in Q4 2021. The team has done a great job remaining disciplined on costs in a difficult operating environment. Longer term, we are well-positioned to drive strong operating leverage as the business recovers over time.
In terms of the new concession, we approach the tender process very prudently, carefully balancing our commitments to the government with our responsibilities to our shareholders and, of course, our liquidity position. We're currently advancing through the design and planning stages for these projects require a number of government approvals creating a wide range of potential capex in the varying day terms.
As such, for 2023, we expect capex related to our concession commitments to range between $50 million to $220 million. Our future non-gaming investments, including new site set to be home of a unique spectacle show and innovative food halls and an events and entertainment center. As Craig noted, we believe these investments play into our strength as we have a demonstrated track record of introducing innovative non-gaming investments that drive increased tourism and ultimately, strong shareholder returns.
Turning to Wynn Interactive. Our EBITDA burn rate increased sequentially to $28.3 million in Q4 2022. However, adjusting for the well-publicized World Series that Craig mentioned, it was roughly flat with our Q3 2022 burn rate of $17.7 million. The team continues to control costs while driving improved marketing efficiencies.
Moving on to the balance sheet. Our liquidity position remains very strong with global cash and revolver availability of approximately $4.5 billion as of December 31. This was comprised of $952 million of total cash and available liquidity in Macau and $3.5 billion in the US. These numbers exclude the undrawn $500 million intercompany revolving credit facility when results entered into with Wynn Macau. We were pleased to close the sale-leaseback transaction for the real estate of Encore Boston Harbor on December 1 with gross proceeds of $1.7 billion, further bolstering our already strong liquidity position.
Importantly, the combination of very strong performance in Las Vegas and Boston, with the properties generating $1.04 billion of adjusted property EBITDA during 2022, together with our robust liquidity creates a very healthy leverage profile in the US. With our properties performing well in each of our markets and our robust liquidity, I'd like to note our intention to repay our upcoming May 2023 Wynn Las Vegas bond maturity with cash from the balance sheet, reducing our domestic gross leverage by $500 million.
Finally, our capex in the quarter was $27 million, primarily related to normal course maintenance.
With that, we'll now open up the call to Q&A.
