Wynn Las Vegas bucked the trend and continued to be an ‘outstanding performer on The Strip’ with EBITDAR in Las Vegas growing to a new second quarter record, up two per cent year-over-year to nearly $235m.
Operating revenues were $1.74bn for the second quarter of 2025, an increase of $4.9m from $1.73bn for the second quarter of 2024. Las Vegas and Boston saw revenues increase by $10m with Wynn Macau up $6.5m whilst Wynn Palace decreased $8.4m.
“Our second quarter results evidenced continued strength across our business and were distinguished by a new second quarter record for Adjusted Property EBITDAR in Las Vegas,” said Craig Billings, CEO of Wynn Resorts, Limited. “In Macau, while VIP hold negatively impacted results, we generated healthy market share and significant free cash flow, supporting our continued investment in the Macau properties and our dividend program. At the same time, we are making progress towards the completion of our Wynn Al Marjan Island project in the UAE, where we are pouring the sixty-first floor of the tower, having finalized key food and beverage partnerships, and agreed to key terms with a number of high profile retail tenants.
“Demand was healthy throughout the quarter with impressive increases in both drop and handle driving a 14.5 per cent increase in total casino revenues, a reflection of our ability to continue to take gaming market share. In July, the business saw continued momentum in the casino with drop and handle both up versus July 2024, and strong retail sales. “
“Looking ahead, while macroeconomic uncertainty, including tariffs, remains a consideration, we remain positive about the business in Las Vegas. We saw the forward booking pace accelerate as July progressed, and our group and convention business looks strong heading into the fourth quarter and 2026. 2026 is shaping up to be a record year for both group room nights and revenues. we’re pleased to be resuming our Encore Tower Remodel with construction set to begin in spring 2026 with an estimated spend of $330m, which we expect to take about a year to complete.”
Encore Boston Harbor generated $64m of EBITDAR, up about three per cent year-on-year. Casino revenues grew over five per cent year-over-year, driven by strength in both tables and slots. More recently, demand in Boston remained healthy in July with total casino revenues roughly flat to last year.
Macau delivered solid results in the quarter, though they were impacted by lower-than-normal VIP holds.
Mr Billings said: “During the quarter, we saw a steady April and strong June, offset slightly by a more subdued May. The business generated $266m in VIP normalized EBITDAR with unfavorable VIP hold costing us nearly $13m. Volumes were up nicely in the quarter with mass drop up 3.6 per cent year-on-year and VIP volumes up meaningfully versus Q2 2024, though mass hold was a bit lower than we would like, particularly in May. Volumes accelerated further in July, which was a standout month despite some weather disruption with drop up year-on-year and sequentially versus June.
“For June and July combined, we generated normalized EBITDAR of $3.3m per day, which we’ve normalized to account for high hold during that period. The premium segment continues to lead the market forward in Macau. To further enhance our premium positioning, we have recently initiated two key capital projects, an expansion of the Chairman’s Club gaming area at Wynn Palace and a refresh of our Wynn Tower rooms at Wynn Macau. While we expect some minor disruption toward the end of the year from these projects, once they are complete, we expect they will further elevate our offerings at both properties.”
“Wynn Al Marjan Island continues to progress rapidly. We are pouring the 61st floor and on track to top out the tower later this year. We’ve also finalized several important food and beverage partnerships and agreed to key terms with a number of high-profile retail tenants. We remain on track for our targeted opening date of Wynn Al Marjan Island and continue to believe it is the most compelling development opportunity in the industry. Wynn Al Marjan will be the only property operating in what many analysts are predicting will be a $5-plus billion gaming revenue market.”
“Our future is bright. And to that end, we purchased $158m of stock in the second quarter at a weighted average price of just under $79 per share.
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Wynn Las Vegas bucked the trend and continued to be an ‘outstanding performer on The Strip’ with EBITDAR in Las Vegas growing to a new second quarter record, up two per cent year-over-year to nearly $235m. Operating revenues were $1.74bn for the second quarter of 2025, an increase of $4.9m from $1.73bn for the second quarter…
The post Wynn highlights strength in Las Vegas as luxury segment holds strong appeared first on G3 Newswire.