Wynn Resorts (WYNN) Q3 2026 earnings summary

Executive summary

• Q3 operating revenue was $1,689.1M, down 7.9% YoY; net income attributable to shareholders was $17.3M vs. $88.3M, and diluted EPS was $0.17 vs. $0.85.

• Adjusted Property EBITDAR was $464.2M, down $105.9M YoY; lower gaming volumes and unfavorable Las Vegas table hold weighed on results.

• 9M revenue rose 2.5% to $5,402.7M and attributable net income increased to $277.8M from $227.3M, supported by Wynn Palace growth.

Financial highlights

• Q3 operating income was $178.2M vs. $310.5M; net income before noncontrolling interests was $36.8M vs. $128.4M.

• Q3 casino revenue fell 10.6% to $1,050.5M; non-casino revenue declined 3.1% to $638.6M, with lower gaming volumes across properties driving most of the decrease.

• Q3 Adjusted net income was $33.9M, or $0.33 per diluted share, vs. $88.7M, or $0.86, in Q3 2025.

• 9M operating income declined to $758.4M from $843.7M; operating expenses rose to $4,644.3M from $4,428.3M.

• 9M net cash from operations was $742.2M vs. $874.6M, primarily due to working-capital changes.

Segment performance

• Las Vegas revenue was $575.2M and Adjusted Property EBITDAR was $158.8M, down 21.9% YoY; margin was 27.6%, and table win was below the expected range.

• Encore Boston Harbor revenue was $194.7M and Adjusted Property EBITDAR was $50.1M, down 14.1%; margin was 25.8%, with strike disruption affecting operations.

• Macau revenue was $919.2M and Adjusted Property EBITDAR was $255.3M, down 8.2% and 17.2%, respectively; margin was 27.8%.

• Wynn Palace Q3 revenue was $583.8M and Adjusted Property EBITDAR was $165.8M; Wynn Macau revenue was $335.4M and Adjusted Property EBITDAR was $89.5M.

• Las Vegas ADR rose 3.4% to $522 and RevPAR rose 3.2% to $447; Boston ADR was $430 and RevPAR was $395, down 4.1%.