$1.69B Revenue, $464.2M EBITDAR: Wynn Resorts Reports Q3 2026 Results Under Billings and Fullalove

Wynn Resorts, Limited has reported its financial results for the third quarter ended 30 September 2026, with operating revenues of $1.69 billion, down $144.7 million from $1.83 billion in the same period of 2025.

Net income attributable to the company was $17.3 million against $88.3 million a year earlier, and diluted earnings per share came in at $0.17 compared with $0.85.

The release, published on 5 November 2026, shows the movement spread across all four of the operator’s properties. Adjusted Property EBITDAR was $464.2 million, a decrease of $105.9 million from $570.1 million in the prior-year quarter.

Adjusted net income attributable to Wynn Resorts was $33.9 million, or $0.33 per diluted share, compared with $88.7 million, or $0.86, a year earlier.

Wynn Resorts revenue falls $144.7 million across all four properties

Operating revenues moved lower at every property compared with the third quarter of 2025. Revenue was down $51.7 million at Wynn Palace, $45.8 million at Las Vegas Operations, $30.1 million at Wynn Macau, and $17.1 million at Encore Boston Harbor.

Adjusted Property EBITDAR followed the same pattern, down $44.6 million at Las Vegas Operations, $34.5 million at Wynn Palace, $18.5 million at Wynn Macau, and $8.3 million at Encore Boston Harbor.

Wynn Las Vegas table games win falls to 18.9% in Q3 2026

At the Las Vegas Operations, revenue was $575.2 million, down from $621.0 million, with Adjusted Property EBITDAR of $158.8 million against $203.4 million.

Table games win percentage was 18.9% for the quarter, below the property’s expected range of 22% to 26% and below the 23.0% recorded a year earlier. The company described Las Vegas demand as healthy while noting the property was negatively impacted by a hold rate outside its expected range.

Encore Boston Harbor revenue down $17.1 million amid September strike

Encore Boston Harbor reported operating revenues of $194.7 million, down $17.1 million on the year, with Adjusted Property EBITDAR of $50.1 million against $58.4 million.

The company said the Boston team managed through a strike that began in early September while continuing to serve guests at the resort. Table games win percentage at the property was 18.9%, within its expected range of 18% to 22% and below the 20.5% recorded a year earlier.

Commenting on the quarter, CEO Craig Billings said:

“Our third quarter results demonstrated strong operational discipline from the teams in each of our regions. Wynn Las Vegas and our Macau properties both saw healthy demand amid slower market conditions. Wynn Las Vegas was also negatively impacted by a hold rate outside of our expected range. In Boston, the team did an excellent job managing through the strike that began in early September, ensuring that we could continue delighting guests at our resort. The team at Wynn Al Marjan Island has also made substantial progress with ongoing finishing works occurring throughout the property, including the interior fit-out of all guest rooms, as we move closer to a planned September 2027 opening.”

Wynn Palace and Wynn Macau post $583.8 million and $335.4 million revenue

In Macau, Wynn Palace generated operating revenues of $583.8 million, compared with $635.5 million a year earlier, with Adjusted Property EBITDAR of $165.8 million against $200.3 million.

Wynn Macau reported operating revenues of $335.4 million, compared with $365.5 million, with Adjusted Property EBITDAR of $89.5 million against $108.0 million.

Mass market table games win percentage was 25.8% at Wynn Palace, above the prior-year 22.6%, and 17.1% at Wynn Macau, compared with 18.7% a year earlier. VIP turnover at Wynn Macau fell to $470.4 million from $1,019.3 million, while Wynn Palace VIP turnover was $2,794.8 million against $3,261.3 million a year earlier.

Wynn Resorts nine-month revenue reaches $5.40 billion in 2026

Across the first nine months of 2026, operating revenues were $5.40 billion, up from $5.27 billion in the same period of 2025.

Net income attributable to Wynn Resorts was $277.8 million, or $2.58 per diluted share, compared with $227.3 million, or $2.18, a year earlier, showing the year-to-date picture running ahead of 2025 despite the softer third quarter.

Wynn Al Marjan Island development nears September 2027 opening

Wynn contributed $62.2 million of cash during the third quarter to the 40%-owned joint venture building the Wynn Al Marjan Island development in the UAE, bringing life-to-date cash contributions to $1.12 billion.

The property is currently expected to open in September 2027, with Billings noting substantial progress on finishing works, including the interior fit-out of all guest rooms.

Wynn Resorts refinances debt and holds $1.64 billion in cash

In September 2026, Wynn Resorts Finance and its subsidiary Wynn Resorts Capital Corp. issued $900.0 million of 6.875% Senior Notes due 2035.

The company used the proceeds, along with cash on hand, to redeem in full $900.0 million of Wynn Las Vegas 5.250% Senior Notes due 2027. Cash and cash equivalents stood at $1.64 billion as of 30 September 2026, with total debt outstanding of $10.73 billion.

Wynn Resorts declares $0.25 dividend and buys back 627,475 shares

Alongside the results, the Board declared a cash dividend of $0.25 per share, payable on 30 November 2026 to stockholders of record as of 16 November 2026.

During the quarter the company repurchased 627,475 shares at an average price of $92.61, for an aggregate $58.1 million, leaving $268.0 million of repurchase authority remaining under the programme.

What the Wynn Resorts Q3 2026 results mean for the casino sector

Wynn’s quarter rests largely on factors the company identifies directly, a Las Vegas hold rate outside its expected band and a Boston labour dispute, set against Macau properties the company describes as seeing healthy demand.

With nine-month revenue still ahead of last year, the Al Marjan Island opening moving closer for September 2027, and the dividend maintained, the figures point to the questions operators will track into the year ahead: whether Las Vegas hold returns to its expected range and how the UAE project develops as it nears launch.

Source: Wynn Resorts, Limited