What is the market's earnings forecast for Wynn Resorts next quarter?

What were the key takeaways from Wynn Resorts’s earnings call?

What factors drove the changes in Wynn Resorts's revenue and profit?

What does Wynn Resorts do and what are its main business segments?

What is the revenue and EPS growth rate for Wynn Resorts year over year?

Did Wynn Resorts beat or miss consensus estimates last quarter?

What were the key takeaways from Wynn Resorts's earnings call?

What is Wynn Resorts's latest dividend and current dividend yield?

- **Revenue Growth**: Las Vegas casino up 11%, Macau GGR +15% YoY, UAE project on track for $5B+ GGR market. 
- **Profitability**: EBITDAR margins 32.8% (LV), 30.8% (Macau), 27.6% (Boston). Free cash flow supports $0.25/share dividend. 
- **Strategic Moves**: UAE expansion with Aman partnership, Macau renovations, and disciplined group pricing strategy. 
- **Future Outlook**: 2026 group growth, UAE free cash flow inflection, and Macau premium segment dominance.

**【CEO Summary Section】**
- **Las Vegas Performance**: Q3 revenue growth driven by 11% increase in casino revenue and flat hotel revenue. Notable market share gains in gaming, with EBITDA up 3% on a hold-adjusted basis. Q4 off to strong start with drop and handle up YoY, and group business pacing ahead in 2026. 
- **Macau Strength**: EBITDAR of $308M, benefiting from $23M VIP hold. Mass volumes up 15% YoY despite weather disruption. Ongoing renovations at Wynn Palace and Macau Tower to enhance premium offerings. 
- **UAE Expansion**: Wynn Al Marjan Island on track for 2026 opening. First development on adjacent land bank, Janu Al Marjan by Aman Group, with minimal equity required ($25M-$50M). UAE GGR market projected at $5B+ by analysts. 
- **Boston Harbor Stability**: Slot revenues up 5% YoY, EBITDAR of $58M. Tight cost control despite labor pressures. 

**【CFO Financial Commentary】**
- **Q3 Financials**: Total revenue $3.1B, EBITDAR $1.1B. Las Vegas EBITDAR margin 32.8%, Macau 30.8%, Boston 27.6%. Free cash flow generation supported recurring dividend ($0.25/share) and $125M Macau dividend. 
- **Liquidity**: Global cash and revolver availability $4.6B. Net leverage 4.3x, healthy for sustained capital returns. 
- **CapEx Update**: $164M spent in Q3, including renovations and UAE construction. Total UAE equity contribution to date $835M, with $525M-$625M remaining. 

**【Q&A Key Highlights】**
- **Las Vegas Group Momentum**: 2026 group business pacing ahead on rate and room nights. Q4 trends strong with F1 weekend rates up YoY. 
- **UAE Competition**: No announced competitors, creating upside to base case EBITDAR projections. 
- **Macau Dynamics**: Premium segment leading growth, with 15% YoY mass drop. Management focused on profitable reinvestment vs. margin targeting. 
- **Capital Allocation**: Flexible approach to buybacks, with potential free cash flow inflection in 2027 from UAE operations. 
- **Social Media Pricing Backlash**: No material impact on visitation; focus on perceived value over price sensitivity.

Wynn Resorts, Limited (WYNN) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

WYNN

WYNN fundamentals

You can ask Aime