Wynn Resorts beats Wall Street estimates as Macau strength boosts Q2 results

Wynn Resorts beat Wall Street expectations for second-quarter adjusted profit and revenue, helped by strong performance at its Macau operations, particularly Wynn Palace, while also reiterating that its Wynn Al Marjan Island project in the UAE is expected to open in September 2027. Shares rose 6% after the bell, and Wynn Macau closed up 3.09% in Hong Kong at HK$5.83 after the earnings release. Adjusted profit came in at $1.24 per share, ahead of analysts' estimate of $1.11 per share compiled by LSEG, while total revenue was $1.86 billion versus expectations of $1.84 billion. Wynn had previously reported second-quarter profit of $140.1 million, or $1.32 a share, up from $66.2 million, or 64 cents a share, a year earlier. In Macau, Wynn Palace posted second-quarter operating revenue of about $653 million, up 21.1% year over year, while EBITDAR rose 28.2% to about $202 million. First-half revenue at the property reached $1.313 billion, with EBITDAR of $405 million. Wynn Macau on the peninsula was more subdued, with second-quarter operating revenue of about $351 million, up 2.1%, and EBITDAR of about $95.5 million, down 1%. First-half revenue there was about $681 million, while EBITDAR fell 8.3% to about $171 million. The contrast points to an uneven recovery across Macau's gaming market. Wynn Palace benefited from stronger casino play, especially in the mass-market segment, while both properties faced pressure on room pricing despite near-full occupancy. Analysts said the results suggest premium mass demand remains supportive, but investors are still watching China's macroeconomic backdrop and the longer-term effect of weaker VIP gaming contribution on profitability.