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Wynn Resorts Q2 Earnings & Revenues Beat on Palace Strength
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Key Takeaways
Wynn Resorts' Q2 adjusted EPS of $1.24 beat estimates, while revenues increased 6.9% YoY to $1.86 billion.
Wynn Palace revenues jumped 21.1%, with Adjusted Property EBITDAR rising 28.2% year over year.
Las Vegas set a May EBITDAR record, while Macau delivered strong performance led by Wynn Palace.
Wynn Resorts, Limited (WYNN - Free Report) reported second-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Management highlighted healthy demand across the business, including a monthly Adjusted Property EBITDAR record in Las Vegas during May and strong performance in Macau. Wynn Palace led the quarter’s growth, with revenues rising 21.1% and Adjusted Property EBITDAR increasing 28.2% year over year.
WYNN’s Q2 Earnings & Revenues
In the second quarter, the company reported adjusted earnings per share of $1.24, beating the Zacks Consensus Estimate of $1.01 by 22.8%. In the prior-year quarter, Wynn Resorts reported adjusted earnings of $1.09 per share.
Quarterly operating revenues of $1.86 billion surpassed the consensus mark of $1.84 billion by 0.9%. The top line increased 6.9% from $1.74 billion reported in the year-ago quarter.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
In the second quarter, Wynn Palace’s operating revenues amounted to $653.4 million compared with $539.6 million in the prior-year quarter. Casino revenues increased 25.9% year over year to $564.4 million, while food and beverage revenues rose 4.4% to $31.8 million.
Rooms and entertainment, retail and other revenues declined 6% each to $36.2 million and $21.1 million, respectively. Adjusted Property EBITDAR increased to $201.5 million from $157.2 million, with the margin improving to 30.8% from 29.1%.
In the VIP segment, table games turnover declined 32% year over year to $2.77 billion. The VIP table games win rate was 2.97% compared with 2.86% in the prior-year quarter and remained below the property’s expected range of 3.1% to 3.4%.
Mass-market table drop increased 3% to $1.9 billion, while table games win rose 36.9% to $563.3 million. The mass-market table games win percentage improved to 29.7% from 22.3%. RevPAR declined 5.7% to $216, while occupancy was 98.9%.
WYNN’s Wynn Macau Operations
In the second quarter, Wynn Macau generated operating revenues of $351.1 million compared with $343.8 million reported in the prior-year quarter. Casino revenues increased 2.5% to $300.7 million, while entertainment, retail and other revenues rose 8.7% to $12.7 million.
Rooms and food and beverage revenues declined 3.8% and 1.5% to $20.9 million and $16.8 million, respectively. Adjusted Property EBITDAR declined 1% to $95.5 million from $96.5 million.
VIP table games turnover fell 56.4% year over year to $428.1 million. The VIP win rate declined to 2.58% from 3.41% and remained below the expected range.
Mass-market table drop rose 8.3% to $1.75 billion, and table games win increased 6.9% to $300.2 million. Slot machine handle advanced 18%, while slot machine win climbed 38.6%. RevPAR declined 3.3% to $208.
Wynn Resorts’ Las Vegas Operations
In the second quarter, operating revenues from Las Vegas Operations totaled $643.2 million compared with $638.6 million in the prior-year quarter. Casino revenues increased 6.5% to $158.1 million, while room revenues edged up 0.1% to $208.1 million.
Food and beverage revenues rose 0.4% to $195.7 million. Entertainment, retail and other revenues declined 6.9% to $81.2 million. Adjusted Property EBITDAR decreased 8.3% to $215.2 million, with the margin contracting to 33.5% from 36.8%.
Table drop increased 4.8% year over year to $638.2 million, while table games win rose 14.8% to $152.7 million. The table games win percentage improved to 23.9% from 21.8%.
RevPAR increased 2.5% to $501, while the average daily rate rose 4.9% to $575. Occupancy declined to 87.1% from 89.2% in the year-ago quarter.
WYNN’s Encore Boston Harbor
In the second quarter, Encore Boston Harbor’s operating revenues amounted to $209.3 million compared with $215.7 million in the prior-year quarter. Casino revenues fell 5.9% to $152.1 million.
Rooms and food and beverage revenues increased 9.7% and 7.4% to $25.1 million and $20.1 million, respectively. Entertainment, retail and other revenues declined 3.9% to $12 million.
Adjusted Property EBITDAR decreased 12.2% to $56.1 million from $63.9 million. The table games win percentage fell to 18.1% from 21.3%.
RevPAR increased 9.6% to $412, while the average daily rate rose 9.9% to $445. Occupancy was 92.7% compared with 92.9% in the prior-year quarter.
Wynn Resorts’ Q2 Operating Performance
In the second quarter, Adjusted Property EBITDAR totaled $568.3 million compared with $552.4 million in the year-ago quarter. The consolidated margin declined to 30.6% from 31.8%.
Operating income increased to $297.6 million from $264.6 million reported in second quarter 2025. Net income attributable to Wynn Resorts rose to $140.1 million from $66.2 million reported in the prior year quarter.
WYNN’s Cash Position and Capital Returns
As of June 30, 2026, cash and cash equivalents totaled $1.57 billion, excluding $527.4 million of short-term investments held by Wynn Macau. Total current and long-term debt outstanding was $10.72 billion.
The company repurchased 741,098 shares for $75 million during the quarter. Wynn Resorts also declared a cash dividend of 25 cents per share, payable Aug. 28, 2026. Wynn Al Marjan Island is expected to open in September 2027.
WYNN’s Zacks Rank & Key Picks
Wynn Resorts currently has a Zacks Rank #4 (Sell).
Life Time Group delivered a trailing four-quarter earnings surprise of 9.50%, on average. The stock has surged 68.3% in the year-to-date period. The Zacks Consensus Estimate for LTH’s 2026 sales and EPS implies growth of 11.5% and 19.4%, respectively, from the year-ago levels.
Marcus currently sports a Zacks Rank #1. The company delivered a trailing four-quarter earnings miss of 34.2%, on average. The stock has gained 100.7% in the year-to-date period.
The Zacks Consensus Estimate for Marcus’ 2026 sales and EPS indicates growth of 8.3% and 605.9%, respectively, from the year-ago period’s levels.
AMC Entertainment presently has a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 321.7%, on average. The stock has rallied 71.8% in the year-to-date period.
The Zacks Consensus Estimate for AMC Entertainment’s 2026 sales and EPS indicates an increase of 13.3% and 77.1%, respectively, from the year-ago levels.
View the Zacks #1 Rank List
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Wynn Resorts Q2 Earnings & Revenues Beat on Palace Strength
Key Takeaways
Wynn Resorts, Limited (WYNN - Free Report) reported second-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Management highlighted healthy demand across the business, including a monthly Adjusted Property EBITDAR record in Las Vegas during May and strong performance in Macau. Wynn Palace led the quarter’s growth, with revenues rising 21.1% and Adjusted Property EBITDAR increasing 28.2% year over year.
WYNN’s Q2 Earnings & Revenues
In the second quarter, the company reported adjusted earnings per share of $1.24, beating the Zacks Consensus Estimate of $1.01 by 22.8%. In the prior-year quarter, Wynn Resorts reported adjusted earnings of $1.09 per share.
Quarterly operating revenues of $1.86 billion surpassed the consensus mark of $1.84 billion by 0.9%. The top line increased 6.9% from $1.74 billion reported in the year-ago quarter.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
Wynn Resorts, Limited price-consensus-eps-surprise-chart | Wynn Resorts, Limited Quote
Wynn Palace Operations
In the second quarter, Wynn Palace’s operating revenues amounted to $653.4 million compared with $539.6 million in the prior-year quarter. Casino revenues increased 25.9% year over year to $564.4 million, while food and beverage revenues rose 4.4% to $31.8 million.
Rooms and entertainment, retail and other revenues declined 6% each to $36.2 million and $21.1 million, respectively. Adjusted Property EBITDAR increased to $201.5 million from $157.2 million, with the margin improving to 30.8% from 29.1%.
In the VIP segment, table games turnover declined 32% year over year to $2.77 billion. The VIP table games win rate was 2.97% compared with 2.86% in the prior-year quarter and remained below the property’s expected range of 3.1% to 3.4%.
Mass-market table drop increased 3% to $1.9 billion, while table games win rose 36.9% to $563.3 million. The mass-market table games win percentage improved to 29.7% from 22.3%. RevPAR declined 5.7% to $216, while occupancy was 98.9%.
WYNN’s Wynn Macau Operations
In the second quarter, Wynn Macau generated operating revenues of $351.1 million compared with $343.8 million reported in the prior-year quarter. Casino revenues increased 2.5% to $300.7 million, while entertainment, retail and other revenues rose 8.7% to $12.7 million.
Rooms and food and beverage revenues declined 3.8% and 1.5% to $20.9 million and $16.8 million, respectively. Adjusted Property EBITDAR declined 1% to $95.5 million from $96.5 million.
VIP table games turnover fell 56.4% year over year to $428.1 million. The VIP win rate declined to 2.58% from 3.41% and remained below the expected range.
Mass-market table drop rose 8.3% to $1.75 billion, and table games win increased 6.9% to $300.2 million. Slot machine handle advanced 18%, while slot machine win climbed 38.6%. RevPAR declined 3.3% to $208.
Wynn Resorts’ Las Vegas Operations
In the second quarter, operating revenues from Las Vegas Operations totaled $643.2 million compared with $638.6 million in the prior-year quarter. Casino revenues increased 6.5% to $158.1 million, while room revenues edged up 0.1% to $208.1 million.
Food and beverage revenues rose 0.4% to $195.7 million. Entertainment, retail and other revenues declined 6.9% to $81.2 million. Adjusted Property EBITDAR decreased 8.3% to $215.2 million, with the margin contracting to 33.5% from 36.8%.
Table drop increased 4.8% year over year to $638.2 million, while table games win rose 14.8% to $152.7 million. The table games win percentage improved to 23.9% from 21.8%.
RevPAR increased 2.5% to $501, while the average daily rate rose 4.9% to $575. Occupancy declined to 87.1% from 89.2% in the year-ago quarter.
WYNN’s Encore Boston Harbor
In the second quarter, Encore Boston Harbor’s operating revenues amounted to $209.3 million compared with $215.7 million in the prior-year quarter. Casino revenues fell 5.9% to $152.1 million.
Rooms and food and beverage revenues increased 9.7% and 7.4% to $25.1 million and $20.1 million, respectively. Entertainment, retail and other revenues declined 3.9% to $12 million.
Adjusted Property EBITDAR decreased 12.2% to $56.1 million from $63.9 million. The table games win percentage fell to 18.1% from 21.3%.
RevPAR increased 9.6% to $412, while the average daily rate rose 9.9% to $445. Occupancy was 92.7% compared with 92.9% in the prior-year quarter.
Wynn Resorts’ Q2 Operating Performance
In the second quarter, Adjusted Property EBITDAR totaled $568.3 million compared with $552.4 million in the year-ago quarter. The consolidated margin declined to 30.6% from 31.8%.
Operating income increased to $297.6 million from $264.6 million reported in second quarter 2025. Net income attributable to Wynn Resorts rose to $140.1 million from $66.2 million reported in the prior year quarter.
WYNN’s Cash Position and Capital Returns
As of June 30, 2026, cash and cash equivalents totaled $1.57 billion, excluding $527.4 million of short-term investments held by Wynn Macau. Total current and long-term debt outstanding was $10.72 billion.
The company repurchased 741,098 shares for $75 million during the quarter. Wynn Resorts also declared a cash dividend of 25 cents per share, payable Aug. 28, 2026. Wynn Al Marjan Island is expected to open in September 2027.
WYNN’s Zacks Rank & Key Picks
Wynn Resorts currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Zacks Consumer-Discretionary sector are Life Time Group Holdings, Inc. (LTH - Free Report) , The Marcus Corporation (MCS - Free Report) and AMC Entertainment Holdings, Inc. (AMC - Free Report) .
Life Time Group presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Life Time Group delivered a trailing four-quarter earnings surprise of 9.50%, on average. The stock has surged 68.3% in the year-to-date period. The Zacks Consensus Estimate for LTH’s 2026 sales and EPS implies growth of 11.5% and 19.4%, respectively, from the year-ago levels.
Marcus currently sports a Zacks Rank #1. The company delivered a trailing four-quarter earnings miss of 34.2%, on average. The stock has gained 100.7% in the year-to-date period.
The Zacks Consensus Estimate for Marcus’ 2026 sales and EPS indicates growth of 8.3% and 605.9%, respectively, from the year-ago period’s levels.
AMC Entertainment presently has a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 321.7%, on average. The stock has rallied 71.8% in the year-to-date period.
The Zacks Consensus Estimate for AMC Entertainment’s 2026 sales and EPS indicates an increase of 13.3% and 77.1%, respectively, from the year-ago levels.