Wynn Resorts experiences overall decreases in Q1 revenues.
Casino Giant Wynn Resorts Reports Sluggish Q1 Earnings
US, MacauSlipping Profits at Commercial Casinos Wynn Insights
Wynn Resorts, the renowned casino operator, announced a dip in its Q1 2025 earnings, with total operating revenue slipping from $1.86 billion in Q1 2024 to $1.70 billion.
Here's a breakdown of the earnings by location:
- Las Vegas operations: Adjusted Property EBITDAR dipped by $22.9 million.
- Wynn Palace: Adjusted Property EBITDAR fell by $40.5 million.
- Encore Boston Harbor: Adjusted Property EBITDAR decreased by $5.7 million.
- Wynn Macau: Adjusted Property EBITDAR declined by a significant $47.0 million.
Consequently, net income for the quarter plummeted to $72.7 million, a sharp decline from $144.2 million in Q1 2024. Diluted earnings per share fell from $1.30 in the same period last year to $0.69. Adjusted net income was $113.1 million, or $1.07 per diluted share, compared to $176.8 million and $1.59 per diluted share in the previous year.
However, Craig Billings, CEO of Wynn Resorts Limited, remains optimistic. He emphasized the company's strength in business and the continued advancement of Wynn Al Marjan Island resort project in the United Arab Emirates, with the hotel tower reaching the 47th floor.
Despite the setbacks, Wynn Resorts onboarded a dividend of $0.25 per share for shareholders, payable on May 30, 2025, to those on record as of May 16, 2025[5].
- Wynn Resorts, a leading name in the casino-and-gambling industry, reported sluggish Q1 earnings in 2025, with total operating revenue decreasing from $1.86 billion in Q1 2024 to $1.70 billion.
- In a disclosure, Wynn Resorts revealed that the earnings drop was apparent across several locations, including Las Vegas, Macau, and its properties in Boston and the Palace.
- The news of Wynn Resorts' slipping profits has sparked interest in the finance and business sectors, raising concerns about the industry's overall health, given the lucrative casino-culture and casino-games it represents.
- Despite the decline in Q1 earnings, Wynn Resorts' CEO, Craig Billings, expressed optimism about the company's future, citing the progress of the Wynn Al Marjan Island resort project in the United Arab Emirates.
- In a bid to reassure shareholders, Wynn Resorts announced a dividend of $0.25 per share, payable on May 30, 2025, to those on record as of May 16, 2025.
- The Q1 earnings report and dividend announcement from Wynn Resorts comes as the company grapples with challenges in multiple markets, signaling a potentially volatile time for the casino operator and the broader casino-and-gambling industry.
