Strength comes despite ‘unusual’ Golden Week
Strong results in Macau’s mass gaming market helped push Wynn Resorts to revenues of $1.83bn for the third quarter of 2025, an increase of $140.4m from $1.69bn for the third quarter of 2024.
The third quarter results in Macau marked Wynn’s best performance in the enclave since COVID.
“Our third quarter results were marked by impressive EBITDA growth in Macau, and continued outperformance in Las Vegas,” said Craig Billings, CEO of Wynn Resorts, Limited. “In Macau, we achieved healthy market share and saw a significant increase in mass table drop year over year. In Las Vegas, the team delivered another quarter of year over year EBITDA growth and continued to take gaming market share. We also made significant progress on the completion of Wynn Al Marjan Island, where we are now pouring concrete for the remaining few floors of the 70-story tower.”
“The cadence of Golden Week was a bit unusual this year and that we saw heavier volumes towards the tail end of the holiday and after the holiday period. Beyond Golden Week, volume metrics in the quarter have been strong with turnover and mass drop both running well ahead of last year. With sustained double-digit market-wide growth in GGR, we continue to be optimistic about the future of Macau,” he added.
“The premium segment continues to lead the market in Macau. Last quarter, we discussed 2 new projects, an expansion of the Chairman’s Club gaming area at Wynn Palace and a refresh of our Wynn Tower rooms at Wynn Macau to ensure we continue to take advantage of this ongoing demand. Both projects are moving along very quickly. The Chairman’s Club expansion should be complete ahead of Chinese New Year, and we are already completing the initial floors of the Wynn Tower room renovation now. While we expect some minor disruption into year-end from these projects, once complete, it will further elevate our offerings at both properties.”
In Macau, revenues from Wynn Palace were $635.5m for the third quarter of 2025, an increase of $115.7m from $519.8m for the third quarter of 2024. Adjusted Property EBITDAR from Wynn Palace was $200.3m for the third quarter of 2025, compared to $162.3m for the third quarter of 2024. Table games win percentage in mass market operations was 22.6 per cent, below the 23.9 per cent experienced in the third quarter of 2024. VIP table games win as a percentage of turnover was 4.68 per cent, above the property’s expected range of 3.1 per cent to 3.4 per cent and above the 3.04 per centexperienced in the third quarter of 2024.
Operating revenues from Wynn Macau were $365.5m for the third quarter of 2025, an increase of $13.6m from $352m for the third quarter of 2024. Adjusted Property EBITDAR from Wynn Macau was $108m for the third quarter of 2025, compared to $100.6m for the third quarter of 2024. Table games win percentage in mass market operations was 18.7 per cent, slightly above the 18.5 per cent experienced in the third quarter of 2024. VIP table games win as a percentage of turnover was 2.93 per cent, below the property’s expected range of 3.1 per cent to 3.4 per cent and below the 3.61 per cent experienced in the third quarter of 2024.
Operating revenues from Wynn’s Las Vegas Operations were $621m for the third quarter of 2025, an increase of $13.8m from $607.2m for the third quarter of 2024. Adjusted Property EBITDAR from its Las Vegas Operations for the third quarter of 2025 was $203.4m, compared to $202.7m for the third quarter of 2024. Table games win percentage for the third quarter of 2025 was 23 per cent, within the property’s expected range of 22 per cent to 26 per cent and slightly below the 23.3 per cent experienced in the third quarter of 2024.
Operating revenues from Encore Boston Harbor were $211.8m for the third quarter of 2025, a decrease of $2.4m from $214.1m for the third quarter of 2024. Adjusted Property EBITDAR from Encore Boston Harbor for the third quarter of 2025 was $58.4m, compared to $63m for the third quarter of 2024. Table games win percentage for the third quarter of 2025 was 20.5 per cent, within the property’s expected range of 18 per cent to 22 per cent and below the 21.3 per cent experienced in the third quarter of 2024.
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Strength comes despite ‘unusual’ Golden Week Strong results in Macau’s mass gaming market helped push Wynn Resorts to revenues of $1.83bn for the third quarter of 2025, an increase of $140.4m from $1.69bn for the third quarter of 2024. The third quarter results in Macau marked Wynn’s best performance in the enclave since COVID. “Our…
The post Strong mass market in Macau drives Wynn’s third quarter with best results since COVID appeared first on G3 Newswire.