Wynn Resorts is moving towards portfolio where over 55 per cent of revenues are generated in non-US dollar-denominated markets
Wynn Resorts is moving towards being a company that generates most of its revenues from outside of its domestic market of the United States.
Chief Executive Officer Craig Billings at Wynn said: “We are moving toward a portfolio where we expect over 55 per cent of our revenues will be generated in non-US dollar-denominated markets from assets we developed and operate, each meticulously designed around the most valuable consumers in these key markets. So as we begin 2026, Wynn Resorts, Limited is on track to become one of the most globally diversified companies in our industry. That diversification, combined with our brand, customer focus, and proven operating capabilities, leaves us exceptionally well-positioned for the longer term.”
Billings made the comment whilst presenting the fourth quarter results where both of Wynn’s domestic regions were down. Operating revenues from its Las Vegas operations were $688.1m for the fourth quarter of 2025, a decrease of $11.4m, whilst revenues from Encore Boston Harbor were $210.2m for the fourth quarter of 2025, a decrease of $2.5m.
Billings added: “Demand for our product in Las Vegas remained healthy across the board, with drop, handle, and ADR all up year-on-year. While RevPAR was slightly below last year, the overall results reflect our ability to balance stronger ADRs with modestly lower occupancy in order to optimise the performance of the building. We remain well-positioned to do this, given our strong competitive positioning and our customer base. More recently, performance in the first quarter has been encouraging, with casino volumes and RevPAR both holding up well. We will begin the Encore Tower remodel in the second quarter and expect to lose about 80,000 room nights in 2026.”
“Turning to Boston, Encore generated $57,000,000 of EBITDAR during the quarter with lower-than-normal table hold masking what was otherwise strong fundamental performance with RevPAR, table drop, and slot handle all up year-on-year, along with tightly controlled OpEx. More recently, demand in Boston has remained healthy into February, aside from specific days impacted by poor weather.”
In Macau, lower-than-normal VIP and mass hold negatively affected margins, with low VIP hold trimming EBITDA by more than $16m. Wynn Palace brought in revenue of $596.4m, an increase of $33.4m, whilst Wynn Macau generated $371.3m for the fourth quarter of 2025, an increase of $7.7m.
Shifting to Macau, this quarter was all about significant volume growth but unusually low hold in both VIP and mass. We saw substantial increases in both VIP turnover and mass table drop, year-on-year as well as sequentially. The team delivered $271,000,000 in EBITDA, with low VIP hold costing us a little over $16,000,000 in EBITDA. Volumes in the quarter were strong, with VIP turnover up 48 per cent and mass drop up 18 per cent, both year-on-year. “
Overall operating revenue was $1.87bn for the fourth quarter of 2025, an increase of $27.2m from $1.84bn for the fourth quarter of 2024.
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Wynn Resorts is moving towards portfolio where over 55 per cent of revenues are generated in non-US dollar-denominated markets Wynn Resorts is moving towards being a company that generates most of its revenues from outside of its domestic market of the United States. Chief Executive Officer Craig Billings at Wynn said: “We are moving toward…
The post Wynn’s Asian and Middle Eastern income to surpass domestic revenues appeared first on G3 Newswire.