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Sep 30
Wynn Resorts Q3 2025 Earnings Report
Wynn Resorts reported a profitable third quarter in 2025, with notable strength in Macau and steady performance in Las Vegas.
Key Takeaways
Wynn Resorts posted $1.83B in revenue and returned to profitability in Q3 2025, supported by strong Macau operations and continued EBITDA growth in Las Vegas.
Net income reached $88.3M, reversing a loss from the previous year.
Adjusted EPS came in at $0.86, slightly down from $0.90 last year.
Macau properties led revenue growth, especially Wynn Palace with a $115.7M increase YoY.
A $0.25 per share cash dividend was declared for shareholders.
Wynn Resorts
Wynn Resorts
Wynn Resorts Revenue by Segment
Wynn Resorts Revenue by Geographic Location
Revenue by Segment
Wynn Palace Revenue
CapyFin.comWynn Macau Revenue
CapyFin.comLas Vegas Ops Revenue
CapyFin.comEncore Boston Harbor Revenue
CapyFin.comRevenue by Geographic Location
Macau Revenue
CapyFin.comLas Vegas Revenue
CapyFin.comBoston Revenue
CapyFin.com Forward Guidance
Wynn Resorts expressed optimism driven by operational strength in Macau and Las Vegas, and ongoing development of its UAE resort.
Positive Outlook
- Significant EBITDA growth in Macau.
- Las Vegas operations continued to gain gaming market share.
- Strong mass table drop recovery in Macau.
- Ongoing progress on Wynn Al Marjan Island construction.
- Robust liquidity with $1.49B in cash and $2.6B in available credit.
Challenges Ahead
- Slight YoY decline in adjusted net income.
- Encore Boston Harbor revenue declined.
- Lower VIP win rate at Wynn Macau.
- Continued high debt levels ($10.57B).
- Room revenue decline at Wynn Palace and Macau.