LAS VEGAS – reported fourth quarter earnings that fell short of analyst expectations, sending shares down 4.9% despite a slight revenue beat.
The casino operator posted adjusted earnings of $1.17 per share for the fourth quarter of 2025, below the analyst consensus of $1.47 per share. Revenue came in at $1.87 billion, marginally higher than the $1.85 billion analysts had forecast and up 1.5% from $1.84 billion in the same quarter last year.
“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. “The team in Las Vegas delivered another quarter of healthy EBITDA highlighted by year-on-year improvement in ADRs and strong volumes in the casino.”
Adjusted Property EBITDAR decreased to $568.8 million from $619.1 million in the fourth quarter of 2024, representing an 8.1% decline. The company’s Las Vegas Operations saw the largest EBITDAR drop of $26.6 million, while Wynn Palace in Macau experienced a $21.1 million decrease.
Wynn Palace in Macau was the standout performer with revenue increasing to $596.4 million, up $33.4 million YoY. However, table games win percentage in mass market operations fell to 21.8% from 26.0% in the prior year period, impacting profitability.
The company’s Las Vegas Operations posted revenue of $688.1 million, down $11.4 million from the previous year. Table games win percentage decreased to 26.0% from 30.9% in the fourth quarter of 2024, though it remained at the top end of the property’s expected range.
Wynn also announced progress on its Wynn Al Marjan Island development in the UAE, which topped out its tower during the quarter and remains on track for opening in the first quarter of 2027.
The Board of Directors declared a quarterly cash dividend of $0.25 per share, payable on March 4, 2026.
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