Wynn Resorts Q3: Revenue falls 7.9% to $1.7bn, net income decreases 80.4%

Wynn Resorts has released its financial results for the third quarter of 2026, reporting decreases in net revenue, net income and adjusted property EBITDAR. 

Net revenue during the quarterly period fell 7.9% to $1.7bn, while the operator’s net income decreased 80.4% for a total of $17.3m. For Q3, Wynn Resorts generated an adjusted property EBITDAR of $464.2m, equating to a decrease of 18.6%. 

Revenue from casino operations fell 10.6% to nearly $1.1bn, followed by rooms revenue which accounted for $261.5m but decreased 3.3%. Food & beverage and entertainment, retail and sales revenue totaled $257.7m and $119.4m, respectively, having decreased 1.7% and 5.6%.

At Wynn Palace, revenue decreased 8.1% to $583.8m, leading to an adjusted property EBITDAR loss of 17.2% to $165.8m. Casino revenue at the property fell 8.6% to $495.8m, while rooms revenue decreased 3.6% to just over $36m. 

Wynn Macau’s revenue for Q3 decreased 8.2% to $335.4m, as adjusted property EBITDAR witnessed similar results after falling 17.1% to $89.5m. Casino and rooms produced $286.1m and $20.6m, respectively, equating to decreases of 9% and 2.5%. 

Las Vegas operations also failed to generate positive momentum during Q3, totaling $575.2m of revenue for a decrease of 7.4%. The sector’s adjusted property EBITDAR decreased 21.9% to $158.8m, although food & beverage revenue increased 0.7% to $194m. 

Casino revenue in Las Vegas reached $123.4m but fell 23.6% year-over-year, followed by rooms revenue which decreased 2.6% to $181.8m. Occupancy rates only decreased slightly for Q3, falling from 85.7% to 85.5%. 

For Encore Boston Harbor, revenue at the property decreased 8.1% to $194.7m, as adjusted property EBITDAR also fell by 14.1% for a total of $50.1m. Casino revenue decreased 7.1% to $145.2m, while rooms revenue accounted for $23m and fell 8.8%. 

Despite Wynn Resorts’ operating expenses decreasing 0.8% during Q3 to just over $1.5bn, the company’s operating income still fell 42.6% to $178.2m. 

The results did have an effect on Wynn Resorts' stock price, however, which fell 3.7% at the time of market close to $79.32 per share. 

The operator committed $62.2m of cash to its 40%-owned joint venture connected to the Wynn Al Marjan Island development in the UAE, currently expected to launch in September 2027. 

Wynn Al Marjan Island recently unveiled plans for Wynn Marina, a 98-berth facility that will connect yacht arrivals directly with the integrated resort in Ras Al Khaimah. Wynn Resorts confirmed the facility will have a greater capacity for larger vessels than competing hotel-attached marinas in the UAE.