# Release Details

## Wynn Resorts, Limited Reports Fourth Quarter and Year End 2025 Results

### February 12, 2026

[PDF Version](https://investors.wynnresorts.com/node/21131/pdf)

**Operating Results**  
Operating revenues were $1.87 billion for the fourth quarter of 2025, an increase of $27.2 million from $1.84 billion for the fourth quarter of 2024. Net income attributable to Wynn Resorts, Limited was $100.0 million for the fourth quarter of 2025, compared to net income attributable to Wynn Resorts, Limited of $277.0 million for the fourth quarter of 2024. Diluted net income per share was $0.82 for the fourth quarter of 2025, compared to diluted net income per share of $2.29 for the fourth quarter of 2024. Adjusted Property EBITDAR was $568.8 million for the fourth quarter of 2025, compared to Adjusted Property EBITDAR of $619.1 million for the fourth quarter of 2024.

> "Our fourth quarter results reflect continued strength throughout the business and ongoing progress in our global development initiatives," said Craig Billings, CEO of Wynn Resorts, Limited.

### Consolidated Results  
Operating revenues were $7.14 billion for the year ended December 31, 2025, an increase of $10.0 million from $7.13 billion for the year ended December 31, 2024.

### Property Results
#### Macau Operations
- ***Wynn Palace***  
  Operating revenues from Wynn Palace were $596.4 million for the fourth quarter of 2025, an increase of $33.4 million from $562.9 million for the fourth quarter of 2024. Adjusted Property EBITDAR from Wynn Palace was $163.5 million for the fourth quarter of 2025, compared to $184.6 million for the fourth quarter of 2024.  
  Table games win percentage in mass market operations was 21.8%, below the 26.0% experienced in the fourth quarter of 2024.

- ***Wynn Macau***  
  Operating revenues from Wynn Macau were $371.3 million for the fourth quarter of 2025, an increase of $7.7 million from $363.7 million for the fourth quarter of 2024. Adjusted Property EBITDAR from Wynn Macau was $107.4 million for the fourth quarter of 2025, compared to $108.2 million for the fourth quarter of 2024.

#### Las Vegas Operations  
Operating revenues from our Las Vegas Operations were $688.1 million for the fourth quarter of 2025, a decrease of $11.4 million from $699.5 million for the fourth quarter of 2024.

#### Encore Boston Harbor  
Operating revenues from Encore Boston Harbor were $210.2 million for the fourth quarter of 2025, a decrease of $2.5 million from $212.7 million for the fourth quarter of 2024.

### Wynn Al Marjan Island Development  
During the fourth quarter of 2025, the Company contributed $79.2 million of cash to the 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing our life-to-date cash contributions to the project to $914.2 million. Wynn Al Marjan Island is currently expected to open in the first quarter of 2027.

### Balance Sheet  
Our cash and cash equivalents as of December 31, 2025 totaled $1.46 billion, excluding $601.8 million of short-term investments. Total current and long-term debt outstanding at December 31, 2025 was $10.55 billion.

### Forward-looking Statements  
This release contains forward-looking statements regarding operating trends and future results of operations. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially.

### Supplemental Data Schedule  
- **Three Months Ended December 31, 2025**  
  - **Wynn Palace**: Operating revenues were $596.4 million, Adjusted Property EBITDAR was $163.5 million.
  - **Wynn Macau**: Operating revenues were $371.3 million, Adjusted Property EBITDAR was $107.4 million.
  - **Las Vegas Operations**: Operating revenues were $688.1 million, Adjusted Property EBITDAR was $240.8 million.
  - **Encore Boston Harbor**: Operating revenues were $210.2 million, Adjusted Property EBITDAR was $57.0 million.

- **Year Ended December 31, 2025**  
  - Operating revenues totaled $7.14 billion, with Adjusted Property EBITDAR totaling $2.22 billion.

> Note: Our casino operations in Macau were closed for a period due to Typhoon Ragasa.