Wynn Resorts Reports Las Vegas Earnings Record, Macau Profit Decline

Wynn Resorts reported mixed second-quarter 2025 results, with record adjusted property EBITDAR in its Las Vegas operations driven by a strong base of higher-end customers and growth in casino revenue. Overall company operating revenues slightly increased to $1.74 billion, supported by gains in Las Vegas and Encore Boston Harbor, but offset by declines at Wynn Palace and Macau, where adjusted operating profit fell 9.5%. The company experienced a drop in adjusted earnings per share to $1.09, missing Wall Street estimates, and shares declined in after-hours trading. CEO Craig Billings highlighted progress on the Wynn Al Marjan Island project in the UAE, expected to open in 2027, and noted positive convention business outlook for 2026. Despite challenges from macroeconomic uncertainties and softer midweek hotel demand, Wynn Resorts remains optimistic about continued market share growth and free cash flow generation. Analysts maintain an overall positive outlook with an 'Outperform' rating and an 11-12% potential upside in the stock price based on projected fair values.