Wynn Resorts, Limited (WYNN) Earnings
Wynn Resorts, Limited is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $1.08. WYNN has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -10.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.18 | $1.25 | +5.9% | $1.9B | +1.9% |
| Feb 12, 2026 | $1.33 | $1.17 | -12.0% | $1.9B | +3.6% |
| Nov 6, 2025 | $1.15 | $0.86 | -25.2% | $1.8B | +3.3% |
| Aug 7, 2025 | $1.20 | $1.09 | -9.2% | $1.7B | -0.6% |
| Feb 13, 2025 | $1.27 | $2.42 | +90.6% | $1.8B | +3.9% |
| Feb 7, 2024 | $1.12 | $1.91 | +70.5% | $1.8B | +5.8% |
| Nov 9, 2023 | $0.79 | $0.99 | +25.3% | $1.7B | +5.5% |
| Feb 8, 2023 | $-1.17 | $-1.23 | -5.1% | $1.0B | +5.3% |
| Feb 15, 2022 | $-1.24 | $-1.37 | -10.5% | $1.1B | +5.9% |
| Aug 4, 2021 | $-1.41 | $-1.12 | +20.6% | $990M | +6.2% |
| Feb 4, 2021 | $-2.22 | $-2.45 | -10.4% | $686M | -5.2% |
| Nov 5, 2020 | $-3.32 | $-7.04 | -112.0% | $370M | +6.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Mentioned construction continued at Wynne L. Marjan with over 22,000 workers on site, facing logistical and shipping challenges but manageable, expecting modest delay in opening timeline. - In Las Vegas, Zero Bond and Sartiano's Italian Steakhouse opened with positive feedback, casino revenues up, hotel RevPar up, and Encore Tower remodel to start soon. - In Boston, Encore Boston Harbor generated $51 million of EBITDA, slot revenues grew despite weather challenges, and second quarter off to steady start. - In Macau, strong quarter with VIP hold adjusted EBITDA, mass drop and handle up, new Chairman's Club opened, and announcement of new investment in Enclave at Wind Palace.
Guidance
- Expect modest delay in opening timeline of Wynne L. Marjan project, to quantify in coming months. - Feel good about Las Vegas business for remainder of 2026 with momentum carried into second quarter. - Expect 2026 expansion in CAPEX range of 400 to 450 million for Enclave Tower and other CAPEX projects.
Segment performance
Las Vegas: Adjusted EBITDA grew 5% to 235 million. Casino revenues up over 9% driven by increases in both drop and handle. Hotel RevPar up nearly 10% year on year on a 12% increase in rate. Boston: Generated $51 million of EBITDA in the first quarter. Slot revenues grew 2% year on year despite challenging weather. Macau: VIP hold adjusted EBITDA of $296 million. Lower than expected VIP hold impacted the quarter by $17 million. Mass drop was extremely strong, up 19%, and handle was up 32% year on year. Also, a $900 to $950 million investment in the enclave at Wind Palace, increasing the existing Wind Palace room count by 25% and suite count by 50%.
Risks & headwinds
- Logistical and shipping challenges in the region for Wynne L. Marjan project, though manageable currently. - Wage pressures at Boston property remain a real challenge.
Analyst Q&A
Q: Can you talk about what's been done differently to ensure Wynne L. Marjan project stays on track and supply chain constraints?
A: Focus on team safety, construction continued throughout events, logistics challenges are manageable with rerouting shipments and sourcing alternative materials.
Q: Why now for the new project enclave at Wind Palace?
A: Wind Palace runs at essentially full occupancy, adding rooms captures existing demand, no gaming element, high flow-throughs expected.
Q: Strategically how thinking about timing of Wynne L. Marjan opening?
A: Seasonality has impact but long run gaming resorts not as affected by seasonality as pure hotels, stay tuned for final resolution on opening date.
Q: Impact of recent CAPEX projects in Macau like Chairman's Club?
A: Gourmet Pavilion drove incremental foot traffic and retention, Chairman's Club early signs good for taking share and keeping people around longer.
Q: Thoughts on broader market recovery in UAE independent of Wynne L. Marjan opening?
A: Early to forecast, but UAE has strong airlift, government commitment to tourism, and amenities, policy to drive market when stable.
Q: Labor pressures in Las Vegas and Boston?
A: Las Vegas OPEX per day excluding gaming tax up due to higher business volumes, contractual wage increases, etc.; Boston team mitigating union-related payroll increases with cost efficiencies.
Q: Cannibalization risk of Enclave project in Macau?
A: No cannibalization risk, plenty of table capacity at Wynn Palace beyond peak events.
Q: Design and development of Enclave project in Macau?
A: Base rooms slightly larger than existing, all suites, complementary to existing product aesthetically.
Q: Expansion in Las Vegas?
A: Always thinking about expansion opportunities, but need to consider market and design/development capacity.