Wynn Resorts Q2 Earnings Miss Estimates, Operating Revenues Down Despite Growth in Macau and Las Vegas

Wynn Resorts missed estimates on both lines of its Q2 earnings report, with operating revenues increasing $6.5 million, $10.0 million, and $3.1 million at Wynn Macau, Las Vegas Operations, and Encore Boston Harbor, respectively. The company also saw lower table game win percentages than anticipated. Shares fell in postmarket action on Thursday.

Wynn Resorts Ltd. (WYNN) reported its second-quarter (Q2) 2025 earnings on Thursday, with the results falling short of Wall Street expectations. The Las Vegas-based company reported a net income of $66.2 million, which translates to 64 cents per share. However, this figure missed the average estimate of seven analysts surveyed by Zacks Investment Research, who expected earnings of $1.20 per share [1].

Revenue for the quarter totaled $1.74 billion, which met Street forecasts. The company's operating revenues increased by $6.5 million at Wynn Macau, $10.0 million at Las Vegas Operations, and $3.1 million at Encore Boston Harbor. Despite these increases, the company saw lower table game win percentages than anticipated, which contributed to the earnings shortfall [2].

The company's earnings, adjusted for non-recurring costs, were $1.09 per share, which still fell short of the average estimate. Wynn Resorts' shares fell in postmarket action on Thursday, reflecting the disappointment among investors [3].

Wynn Resorts' Q2 performance was expected to benefit from increasing visitor numbers and demand, particularly in Las Vegas and Macau, along with solid nongaming demand and higher gaming volumes. However, intense competition in Macau, short booking windows, and limited demand visibility are expected to have weighed on the company's performance. Additionally, elevated operating expenses, including increased casino and room expenses, and high general and administrative costs, are likely to have hurt profitability [2].

The company's Earnings Surprise Percentage (ESP) of +7.09% suggests a potential earnings beat, but the Zacks Rank of #3 indicates a more cautious outlook. The Zacks model predicts an earnings beat for Wynn Resorts this time around, but the company's performance may still face challenges in the coming quarters [3].

References:
[1] https://lasvegassun.com/news/2025/aug/07/wynn-q2-earnings-snapshot/
[2] https://www.nasdaq.com/articles/wynn-resorts-gears-q2-earnings-things-keep-mind
[3] https://finance.yahoo.com/news/wynn-resorts-gears-q2-earnings-143800565.html