Wynn achieves a record-breaking Q2 performance on the Las Vegas Strip, looking forward to a robust 2026 with continued growth.
Wynn Resorts Shines in Q2 2025, Setting Records in Las Vegas
Wynn Resorts, the renowned casino and hospitality company, has reported a strong performance in the second quarter of 2025. The company's Q2 revenue reached approximately $1.74 billion, marking a modest increase of 0.3% year-over-year (YoY).
The performance in Las Vegas was particularly noteworthy, with Wynn's operations in the city posting a new Q2 record of $234.8 million in adjusted property earnings before interest, taxes, depreciation, and restructuring (EBITDAR). This figure surpassed the $230.3 million recorded in the same period last year.
However, the company's net income dropped significantly by about 47% to approximately $66.2 million, largely due to higher expenses and weaker results in Macau.
Despite these headwinds, Wynn's Las Vegas segment showed notable strength, outperforming many of its peers. The CEO, Craig Billings, attributed this success to Wynn's focus on catering to wealthier clientele, suggesting that Wynn is excelling in the luxury segment rather than reflecting the broader Las Vegas Strip market.
Looking ahead, Wynn Resorts is focusing on quality over quantity for the remainder of 2025. The company's second-quarter revenue from its Las Vegas operations rose to $638.6 million, signifying a $10 million year-over-year increase.
In the coming months, Wynn Resorts has announced that they will maintain their rates for the Formula One race, unlike some of their competitors. The company is also anticipating a record year for group room nights and revenue in 2026.
Furthermore, work on the Encore Tower is scheduled to begin in the spring of 2026, following a delay in the room renovation plans. Wynn Resorts has also declared a $0.25 per share dividend, payable on August 29.
Despite the broader economic uncertainty, the leadership at Wynn remains upbeat, with corporate bookings for the upcoming Formula One race in November pacing much better than last year. The targeted opening date for Wynn Al Marjan Island has not been altered, and renovation work is underway at Wynn Palace, expanding the Chairman's Club gaming area, and at Wynn Macau, refreshing the Wynn Tower rooms.
Internationally, Macau delivered mixed results in May, costing the company approximately $13 million due to a low VIP hold. However, July was a strong month in Macau, despite weather-related troubles, contributing to the overall positive performance of Wynn Resorts in Q2 2025.
[1] Wynn Resorts Q2 2025 Earnings Release [2] Las Vegas Review-Journal [3] CNBC [5] Bloomberg
