Warning: Undefined array key "post_type_share_twitter_account" in /var/www/vhosts/casinonewsblogger.com/public_html/wp-content/themes/cryptocurrency/vslmd/share/share.php on line 24
Wynn Resorts reported higher second-quarter revenue and profit, supported by strong growth at Wynn Palace, while confirming that its Wynn Al Marjan Island resort in the United Arab Emirates will open in September 2027 following construction delays and a $600 million increase in projected costs.
Operating revenue rose to $1.86 billion for the quarter ended June 30, 2026, up $119.1 million from $1.74 billion a year earlier. Net income attributable to Wynn Resorts increased to $140.1 million from $66.2 million, while diluted earnings per share rose to $1.32 from $0.64.
Adjusted net income was $127.5 million, or $1.24 per diluted share, compared with $113.3 million, or $1.09 per share, in the second quarter of 2025. Adjusted Property EBITDAR increased by $15.9 million to $568.3 million.
Chief Executive Officer Craig Billings said the quarter reflected strong demand in Macau and a monthly record for Adjusted Property EBITDAR in Las Vegas in May.
A major contribution came from Wynn Palace, where revenue increased by $113.8 million to $653.4 million. Adjusted Property EBITDAR rose to $201.5 million from $157.2 million. Mass-market table games win at Wynn Palace increased to 29.7% from 22.3%. VIP table games win as a percentage of turnover was 2.97%, below the property’s expected range of 3.1% to 3.4%, but above the 2.86% recorded a year earlier.
Wynn Macau generated revenue of $351.1 million, up $7.3 million, while Adjusted Property EBITDAR declined slightly to $95.5 million from $96.5 million. Its mass-market table games win percentage fell to 17.1% from 17.4%, and VIP win was 2.58%, below both the expected range and the 3.41% recorded in the previous year.
Billings said Macau produced $306 million in normalized VIP adjusted earnings, with unfavorable VIP hold reducing results by nearly $9 million.
Chief Executive Officer Craig Billings
“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,” Billings stated.
In Macau, mass-market drop increased by 5%, although third-quarter rolling volumes and mass drop were slightly lower year over year because of World Cup-related disruption and normal seasonality. Trading improved in the second half of July and into early August.
Las Vegas revenue increased by $4.6 million to $643.2 million, but Adjusted Property EBITDAR fell to $215.2 million from $234.8 million. Table games win was 23.9%, within the expected range of 22% to 26% and above the 21.8% recorded a year earlier.
Billings said casino revenue increased by 5%, supported by higher drop and handle, while revenue per available room rose by 3% and retail lease revenue increased by 8%. July was affected by unusually low hold, although the company said demand remained solid and bookings for Formula 1, conventions, and leisure travel were ahead of or strengthening against last year.
Encore Boston Harbor
Encore Boston Harbor reported revenue of $209.3 million, down $6.4 million, while Adjusted Property EBITDAR declined to $56.1 million from $63.9 million. Table games win was 18.1%, within its expected range but below the 21.3% recorded in 2025. The property nevertheless achieved second-quarter records for hotel revenue and revenue per room, while slot revenue increased by 1%.
The company revised the timetable and budget for Wynn Al Marjan Island. The $5 billion-plus resort had previously been expected to open in the spring of 2027. Billings said regional conflict had disrupted supply chains, insurance markets, shipping, staffing, and the movement of consultants, requiring some equipment and materials to be rerouted or sourced differently.
“These disruptions have impacted the timing and cost of the project,” Billings said.
Wynn now expects the resort to open in September 2027. Half of the $600 million budget increase was attributed to higher material and shipping costs, together with additional interest and pre-opening expenses caused by the longer construction period. The remainder reflected trade coordination, remeasurement, and other project costs.
Ongoing construction of Wynn Al Marjan Island
During the quarter, Wynn contributed $48.1 million to the 40%-owned joint venture developing the property, bringing its total cash investment to $1.06 billion.
Billings said construction and pre-opening recruitment were advancing, while conditions in the UAE had largely normalized despite continuing geopolitical risks. He added that September coincides with the beginning of the country’s peak tourism season and said the resort was expected to attract local, regional, and international customers.
In Macau, Wynn plans to begin construction before the end of 2026 on Enclave, a 432-suite hotel expected to open in 2029. Work on a new event center and theater at Wynn Palace is due to begin in the coming weeks, with completion scheduled for 2028.