Wynn Resorts Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw strong results in Las Vegas, Boston, and Macau, with robust growth in casino and hotel metrics. Major investments include a new hotel tower in Macau and continued progress on the UAE project, despite modest delays from regional conflict.
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The meeting covered director elections, auditor ratification, executive compensation, and an incentive plan amendment, with the board recommending approval of all proposals. Voting results will be disclosed in a forthcoming SEC filing.
Fiscal Year 2025
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Q4 2025 saw strong results across all regions, with Las Vegas, Boston, and Macau delivering robust EBITDA despite some hold-related headwinds. Geographic diversification advances with Wynn Al Marjan Island, and a quarterly dividend was declared.
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Las Vegas, Boston, and Macau all delivered strong EBITDA growth, with Las Vegas and Macau benefiting from premium segment strength and ongoing property investments. The company maintains a robust liquidity position, continues to return capital to shareholders, and is optimistic about future growth, especially with the UAE project on track.
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Q2 saw record Las Vegas EBITDA, strong growth in Boston and Macau, and robust liquidity. Premium positioning and operational discipline drove market share gains, while Wynn Al Marjan Island remains on track to open as the sole operator in a high-growth market.
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Q1 saw strong EBITDA and revenue growth in Las Vegas, Boston, and Macau, despite tariff-driven delays in $375M of U.S. CAPEX. Group bookings for 2026 are robust, Macau competition remains intense but stable, and capital returns to shareholders continue via buybacks and increased dividends.
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The meeting featured a tribute to Elaine Wynn, board and executive introductions, and four proposals, including a shareholder request for a smoke-free policy report. The board recommended against the smoke-free proposal, with final voting results to be filed with the SEC.
Fiscal Year 2024
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Achieved record adjusted property EBITDA in 2024, with strong performance in Las Vegas, Boston, and Macau. Significant progress on Wynn Al Marjan Island, robust liquidity, and active capital returns position the company for continued growth into 2025.
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Revenue and EBITDA were stable or up modestly across all regions, with strong cost control and robust liquidity. Share repurchase authorization increased, and the UAE project is progressing rapidly, expected to drive long-term growth.
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Record Q2 EBITDAR of $572M driven by strong Las Vegas, Boston, and Macau results, with robust margins and disciplined cost control. UAE project advances with major equity investment and land acquisition; share repurchases and dividends continue as leverage improves.