Effective from mid-2026, Wynn Resorts has appointed Craig Fullalove for the company’s new CFO position as part of a planned leadership transition within its finance function....
Wynn Resorts reports modest revenue rise in Q2 2025
Wynn Resorts reports a small revenue rise in Q2 2025 to $1.74 billion from $1.73 billion in the same period last year. However, Las Vegas hits a record EBITDAR.
Net income fell to $66.2 million, down from $111.9 million last year. Diluted earnings per share dropped to $0.64 from $0.91 in Q2 2024. Adjusted property EBITDAR fell to $552.4 million, a decline from $571.7 million from the same period last year.
Craig Billings, CEO of Wynn Resorts, shared:
“Our second quarter results evidenced continued strength across our business and were distinguished by a new second quarter record for adjusted property EBITDAR in Las Vegas.
In Macau, while VIP hold negatively impacted results, we generated healthy market share and significant free cash flow.”
However, Wynn Las Vegas stood out in Q2, with $234.8 million in adjusted property EBITDAR, a 2% year-over-year increase, which is a new Q2 high. Revenue rose to $638.6 million, which is up $10 million from the same period last year.
Billings further credited Wynn’s stability to its strategic focus:
“Being at the luxury end of the market helps, and our premium positioning absolutely helps. And I think that’s the most resilient component of the customer base.
We saw the forward booking pace accelerate as July progressed, and our group and convention business looks strong heading into the fourth quarter and 2026. 2026 is shaping up to be a record year for both group room nights and revenues.”
Encore Boston Harbor also posted modest gains, with revenue rising to $215.7 million and EBITDAR increasing to $63.9 million.
However, revenue at Wynn Palace in Macau fell to $539.6 million, down from $548 million last year, and adjusted property EBITDAR dropped to $157.2 million from $184.5 million in Q2 2024.
Wynn also prioritizes its UAE development and has paused other global expansion plans.
Wynn Al Marjan Island is speculated to become the largest driver of profits and free cash flow for the Wynn portfolio, generating over $1.66 billion in annual gross gaming...
