# Wynn Resorts, Limited Reports First Quarter 2026 Results

**Release Date**: 08 May 2026

**LAS VEGAS, May 7, 2026** — Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the first quarter ended March 31, 2026.

Operating revenues were **$1.86 billion** for the first quarter of 2026, an increase of **$156.4 million** from **$1.70 billion** for the first quarter of 2025. Net income attributable to Wynn Resorts, Limited was **$120.5 million** for the first quarter of 2026, compared to net income attributable to Wynn Resorts, Limited of **$72.7 million** for the first quarter of 2025. Diluted net income per share was **$1.04** for the first quarter of 2026, compared to diluted net income per share of **$0.69** for the first quarter of 2025. Adjusted Property EBITDAR was **$562.4 million** for the first quarter of 2026, compared to Adjusted Property EBITDAR of **$532.9 million** for the first quarter of 2025.

"Our first quarter results reflect the strength of Wynn's business across all of our markets," said Craig Billings, CEO of Wynn Resorts, Limited. "Las Vegas delivered another quarter of EBITDAR growth and continued to make gains in gaming market share. In Macau, we saw a meaningful increase in gaming volumes year-over-year alongside healthy market share, and we were pleased to increase the dividend from Wynn Macau, Limited — a reflection of the strong free cash flow the business is generating. Construction on Wynn Al Marjan Island continues to progress, and we are closely monitoring the broader situation in the Gulf region while taking additional precautions to ensure the safety and well-being of our team on the ground. We also continued to return capital to shareholders through our regular quarterly dividend and the repurchase of **$54 million** of stock in the quarter."

## Consolidated Results

Operating revenues were **$1.86 billion** for the first quarter of 2026, an increase of **$156.4 million** from **$1.70 billion** for the first quarter of 2025. For the first quarter of 2026, operating revenues increased **$123.4 million** and **$36.6 million** at Wynn Palace and our Las Vegas Operations, respectively, and decreased **$3.6 million** at Encore Boston Harbor, from the first quarter of 2025. Operating revenues at Wynn Macau for the first quarter of 2026 were in line with the first quarter of 2025.

Net income attributable to Wynn Resorts, Limited was **$120.5 million** for the first quarter of 2026, compared to net income attributable to Wynn Resorts, Limited of **$72.7 million** for the first quarter of 2025. Diluted net income per share was **$1.04** for the first quarter of 2026, compared to diluted net income per share of **$0.69** for the first quarter of 2025. Adjusted net income attributable to Wynn Resorts, Limited was **$129.7 million**, or **$1.25** per diluted share, for the first quarter of 2026, compared to adjusted net income attributable to Wynn Resorts, Limited of **$113.1 million**, or **$1.07** per diluted share, for the first quarter of 2025.

Adjusted Property EBITDAR was **$562.4 million** for the first quarter of 2026, an increase of **$29.5 million** compared to Adjusted Property EBITDAR of **$532.9 million** for the first quarter of 2025. For the first quarter of 2026, Adjusted Property EBITDAR increased **$41.9 million** and **$9.1 million** at Wynn Palace and our Las Vegas Operations, respectively, and decreased **$14.6 million** and **$6.9 million** at Wynn Macau and Encore Boston Harbor, respectively, from the first quarter of 2025.

Wynn Resorts, Limited also announced today that its Board of Directors has declared a cash dividend of **$0.25** per share, payable on **May 29, 2026** to stockholders of record as of **May 18, 2026**.

## Property Results

### Macau Operations

#### Wynn Palace

Operating revenues from Wynn Palace were **$659.3 million** for the first quarter of 2026, an increase of **$123.4 million** from **$535.9 million** for the first quarter of 2025. Adjusted Property EBITDAR from Wynn Palace was **$203.8 million** for the first quarter of 2026, compared to **$161.9 million** for the first quarter of 2025. Table games win percentage in mass market operations was **26.6%**, above the **24.8%** experienced in the first quarter of 2025. VIP table games win as a percentage of turnover was **3.11%**, within the property's expected range of **3.1% to 3.4%** and above the **2.61%** experienced in the first quarter of 2025.

#### Wynn Macau

Operating revenues from Wynn Macau were **$329.9 million** for the first quarter of 2026, in line with **$330.0 million** for the first quarter of 2025. Adjusted Property EBITDAR from Wynn Macau was **$75.6 million** for the first quarter of 2026, compared to **$90.2 million** for the first quarter of 2025. Table games win percentage in mass market operations was **15.1%**, below the **18.7%** experienced in the first quarter of 2025. VIP table games win as a percentage of turnover was **0.39%**, below the property's expected range of **3.1% to 3.4%** and below the **1.09%** experienced in the first quarter of 2025.

### Las Vegas Operations

Operating revenues from our Las Vegas Operations were **$661.9 million** for the first quarter of 2026, an increase of **$36.6 million** from **$625.3 million** for the first quarter of 2025. Adjusted Property EBITDAR from our Las Vegas Operations for the first quarter of 2026 was **$232.5 million**, compared to **$223.4 million** for the first quarter of 2025. Table games win percentage for the first quarter of 2026 was **25.2%**, within the property's expected range of **22% to 26%** and above the **24.3%** experienced in the first quarter of 2025.

### Encore Boston Harbor

Operating revenues from Encore Boston Harbor were **$205.7 million** for the first quarter of 2026, a decrease of **$3.6 million** from **$209.2 million** for the first quarter of 2025. Adjusted Property EBITDAR from Encore Boston Harbor for the first quarter of 2026 was **$50.5 million**, compared to **$57.5 million** for the first quarter of 2025. Table games win percentage for the first quarter of 2026 was **20.2%**, within the property's expected range of **18% to 22%** and slightly below the **20.5%** experienced in the first quarter of 2025.

## Wynn Al Marjan Island Development

During the first quarter of 2026, the Company contributed **$100.1 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 **$1.01 billion**. Wynn Al Marjan Island is currently expected to open in **2027**.

## Balance Sheet

Our cash and cash equivalents as of March 31, 2026 totaled **$1.19 billion**, excluding **$607.6 million** of short-term investments held by Wynn Macau, Limited. Cash and cash equivalents is comprised of **$850.9 million** held by Wynn Macau, Limited and subsidiaries, **$212.1 million** held by Wynn Resorts Finance, LLC and subsidiaries excluding Wynn Macau, Limited, and **$124.6 million** held at Corporate and other. As of March 31, 2026, the available borrowing capacity under the Wynn Resorts Finance, LLC Revolver and the WM Cayman II Revolver was **$1.24 billion** and **$1.35 billion**, respectively.

Total current and long-term debt outstanding at March 31, 2026 was **$10.52 billion**, comprised of **$5.76 billion** of Macau related debt, **$877.2 million** of Wynn Las Vegas debt, **$3.28 billion** of Wynn Resorts Finance, LLC debt, and **$598.6 million** of debt held by the retail joint venture which we consolidate.

## Equity Repurchase Program

During the first quarter of 2026, the Company repurchased **528,667 shares** of its common stock under its publicly announced equity repurchase program at an average price of **$101.72** per share, for an aggregate cost of **$53.8 million**. As of March 31, 2026, the Company had **$401.1 million** in repurchase authority remaining under the equity repurchase program.

## Conference Call and Other Information

The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on **May 7, 2026** at **1:30 p.m. PT** (4:30 p.m. ET). Interested parties are invited to join the call by accessing a live audio webcast at [http://www.wynnresorts.com](/content/site-root.html). On or before May 15, 2026, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended March 31, 2026 available to noteholders, prospective investors, broker-dealers and securities analysts. Please contact our investor relations office at **702-770-7555** or at **investorrelations@wynnresorts.com**, to obtain access to such financial information.