Group Revenue Increases 7% to $1.86bn While Net Profit More Than Doubles, Offset by Softer Las Vegas Conditions
Wynn Resorts has reported year-on-year growth in both group revenue and net profit for Q2 2026, bolstered by a strong performance in Macau that helped offset softer market conditions in Las Vegas.
Total revenue for the three months ending June reached $1.86 billion, marking a 7% increase compared to Q2 2025. Concurrently, adjusted property EBITDAR rose 3% to $568.3 million, and net profit more than doubled, increasing by 112% to $140.1 million.
Divisional Performance: Macau Drives Growth
Examining regional figures, Macau proved to be the standout performer for the operator during the quarter. Revenue at Wynn Palace surged 21% to $653.4 million, benefiting from solid mass-market gaming trends despite VIP table games win remaining below expected ranges. Overall Wynn Macau revenue also increased by 2% to $351.1 million, though adjusted property EBITDAR edged down to $95.5 million amid lower win percentages.
In contrast, conditions in the domestic market were more subdued. Total revenue in Las Vegas reached $643.2 million, representing a marginal year-on-year increase, but adjusted property EBITDAR declined from $234.8 million to $215.2 million. Similarly, revenue at Encore Boston Harbor fell 3% to $209.3 million, with adjusted property EBITDAR dropping to $56.1 million.
Reflecting on the results, Wynn Resorts CEO and president Craig Billings highlighted the resilience across core operations:
“Our second quarter results, including a monthly record for adjusted property EBITDAR in Las Vegas in May, and strong performance in Macau, reflect continued healthy demand dynamics throughout our business. I am incredibly proud of our teams in both regions.”
Financial Growth and First-Half Outlook
Group operating costs edged up 6% to $1.56 billion during the quarter, but revenue growth comfortably outpaced expenditures, pushing operating profit up 12% to $297.6 million. Pre-tax profit surged 127.1% to $198.7 million due to lower non-operating costs. After income tax deductions and accounting for non-controlling interests, net profit attributable to Wynn reached $140.1 million.
For the first half of the year as a whole, total revenue reached $3.71 billion, an 8% increase, while adjusted property EBITDAR climbed 4% to $1.13 billion. H1 net profit attributable to Wynn hit $260.5 million, reflecting an 87% year-on-year improvement. Looking ahead, Billings noted positive forward bookings for the upcoming Formula One weekend in Las Vegas in November, alongside healthy convention demand heading into Q4 and 2027.
