Wynn Resorts reports higher earnings and revenue for Q2 as operations improve

Wynn Resorts Ltd (NASDAQ:WYNN) shares climbed about 7% after the casino operator reported second quarter results that exceeded Wall Street expectations, supported by higher revenue and improved profitability.

The company reported adjusted earnings of $1.24 per share for the quarter, ahead of analyst estimates ranging from about $1.01 to $1.16 per share.

Revenue totaled $1.86 billion, topping consensus expectations of roughly $1.84 billion and increasing 6.9% from $1.74 billion in the same period last year.

Net income attributable to Wynn Resorts reached $140.1 million, or $1.32 per diluted share, compared with $66.2 million, or $0.64 per diluted share, in the second quarter of 2025. Adjusted net income was $127.5 million, or $1.24 per diluted share, compared with $113.3 million, or $1.09 per diluted share, a year earlier.

Adjusted Property EBITDAR rose to $568.3 million from $552.4 million in the prior-year period, with growth driven primarily by the company's Macau operations. Wynn Palace generated revenue of $653.4 million, up $113.8 million year-over-year, while Adjusted Property EBITDAR increased to $201.5 million from $157.2 million.

Wynn Macau revenue rose modestly to $351.1 million, while Adjusted Property EBITDAR was largely unchanged at $95.5 million.

In Las Vegas, revenue increased slightly to $643.2 million from $638.6 million, although Adjusted Property EBITDAR declined to $215.2 million from $234.8 million. Encore Boston Harbor revenue fell to $209.3 million from $215.7 million, with Adjusted Property EBITDAR declining to $56.1 million.

"Our second quarter results, including a monthly record for Adjusted Property EBITDAR in Las Vegas in May, and strong performance in Macau, reflect continued healthy demand dynamics throughout our business. I am incredibly proud of our teams in both regions," CEO Craig Billings said.

The company also highlighted progress on its Wynn Al Marjan Island development in Ras Al Khaimah, United Arab Emirates, which is expected to open in September 2027. Wynn contributed $48.1 million in cash to the project during the second quarter, bringing total contributions to $1.06 billion.

As of June 30, Wynn reported cash and cash equivalents of $1.57 billion, excluding $527.4 million in short-term investments held by Wynn Macau. Total debt outstanding stood at $10.72 billion.