WYNN
Wynn Resorts, Limited126.04
-0.21-0.17%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details projects, remodel headwinds
Q&A added operational color without contradicting prepared optimism, detailing Vegas' Encore remodel as an 80,000-room-night headwind staged for low-demand periods and spilling into 2027. Chairman's Club triples to nearly 100,000 square feet at Wynn Palace, opening for Chinese New Year to woo premium players. Al Marjan rooms hit sales late Q3, base case supply-independent via transport. Macau VIP surge from hosting, not credit; normalized margins ~30%, reinvestment in 200bps band. Boston eyes land lease for adjacent hotels. Vegas crushes it long-term. Watch remodel drag, hold normalization.
Key Stats
Market Cap
13.11BP/E (TTM)
27.95Basic EPS (TTM)
4.51Dividend Yield
0.01%Recent Filings
8-K
Construction resumes on UAE resort
Wynn Resorts issued an update on March 11, 2026, confirming construction has resumed on Wynn Al Marjan Island in Ras Al Khaimah, UAE, after a short pause amid regional tensions. The company holds a 40% stake in the developer and maintains confidence in UAE security while monitoring developments. Teams continue design and planning work seamlessly. Safety measures prioritize on-site employees.
10-K
FY2025 results
Wynn Resorts posted FY2025 operating revenues of $7.14B, up 0.1% y/y, with casino up 3.5% to $4.41B on higher Wynn Palace volumes and Las Vegas slots, yet rooms fell 8.1% on lower ADR. Adjusted Property EBITDAR dipped across properties—Wynn Palace down $51M, Las Vegas $44M—amid softer non-gaming and 20th anniversary costs, but Q4 casino momentum accelerated at Palace (VIP turnover +28% y/y). Net income fell 35% to $327M on higher taxes; operating cash flow $1.35B funded $660M capex, $380M buybacks, $175M dividends. Debt stood at $10.6B with $2.6B liquidity. Macau concession risks could stall quarterly momentum.
8-K
Q4 revenues up, profits down
Wynn Resorts reported Q4 2025 operating revenues of $1.87 billion, up from $1.84 billion last year, yet net income fell to $100 million from $277 million as Adjusted Property EBITDAR dropped to $568.8 million. Macau drove revenue gains with VIP turnover surging at Wynn Palace, while Las Vegas and Boston dipped. Board declared $0.25/share dividend, payable March 4. Tower topped out for 2027 UAE opening.
8-K
CFO succession announced
Wynn Resorts' CFO Julie Cameron-Doe retires effective March 31, 2026, with full officer exit June 1; Craig Fullalove, current Wynn Macau CFO, steps in April 1 under a 3-year deal with $800,000 base, 200% target bonus, 135% equity grant. Smooth internal handoff preserves Macau expertise amid global expansions. Transition consulting ensures continuity.
10-Q
Q3 FY2025 results
Wynn Resorts posted Q3 revenue of $1.8B, up 8% y/y from $1.7B yet flat YTD, driven by 15% casino jump at Macau Operations despite a typhoon closure—Wynn Palace surged 23%. Operating income rocketed to $310M from $133M on lower property charges, lifting diluted EPS to $0.85 (reconciles to 103.6M shares) from a $0.29 loss. Operating cash flow hit $875M YTD; cash fell to $1.5B amid $489M capex and $236M into UAE project, with $10.6B long-term debt and $2.6B revolver capacity. Steady dividends and buybacks continue. Macau volatility lingers.
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