Wynn Resorts, Limited (WYNN) Earnings Call Transcripts

Wynn Resorts, Limited's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, Wynn Resorts reported revenue of $1.85 billion and adjusted EBITDA of $568 million, reflecting a solid performance driven by strong casino revenues and hotel occupancy. The company maintained its positive outlook for Las Vegas, with management noting a 5% increase in total casino revenues and a 3% rise in RevPAR. However, guidance for the Wynn Al Marjan Island project has been adjusted, with an increase in the budget by approximately $600 million due to regional disruptions and material cost increases, which could impact future returns.

Reported metrics

Guidance from management

Wynn Resorts maintained a positive outlook for Las Vegas, expecting strong performance in Q4 and 2027, while adjusting the budget for Wynn Al Marjan Island due to increased costs and disruptions. They expect 2026 expansionary CapEx in Macau to land in the $350 million to $400 million range.

What management said

Thank you, operator, and good afternoon, everyone. On the call with me today are Craig Billings and Brian Gullbrants in Las Vegas, also on the line of Jannie Holliday, Linda Chen and Fredrik Rubasuto. Please note that we published a presentation to provide more color on the company and recent performance ahead of the call. You can find the presentation on our Investor Relations website. I want to remind you that we...

Chairman's Club is actually still ramping. I mean it's only been open several months now. So we're still in the process of ramping it. It is designed to do both. And it's also designed to increase dwell time, which obviously has positive impact on hold.

What analysts pressed on

Analysts expressed concerns regarding the increased budget for Wynn Al Marjan Island and its potential impact on returns. Additionally, there were questions about the sustainability of the current demand trends in Macau and the competitive landscape in Las Vegas.

Main topics on the call

• Revenue Growth Acceleration — Wynn Las Vegas generated $215 million of EBITDA, with total casino revenues increasing by 5%. Management noted, "We saw impressive increases in both drop and handle, driving a 5% increase in total casino revenues."
• Macau Performance — Macau generated $297 million of adjusted property EBITDA, despite unfavorable VIP hold impacting results by over $8.6 million. Management stated, "Volumes were up nicely in the quarter with mass drop up 5%."
• Increased CapEx for Wynn Al Marjan Island — The budget for Wynn Al Marjan Island has been increased by approximately $600 million due to disruptions and material cost increases. Management indicated, "The remaining portion reflects remeasurement, trade coordinatio...
• Strong Forward Bookings — Management highlighted strong forward bookings for group and convention business, stating, "We saw the forward booking pace accelerate as July progressed, and the business looks strong heading into both Q4 and 2027."

Read the full Wynn Resorts, Limited transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 Wynn Resorts, Limited earnings call transcripts on record, spanning February 6, 2020 to August 4, 2026. Based on this history, Wynn Resorts, Limited reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WYNN

Exchange

NasdaqGS

Country

US

Sector

Consumer Discretionary

Industry

Hotels, Restaurants and Leisure

Calls on record

29

First call

February 6, 2020

Most recent

August 4, 2026

Reporting cadence

quarterly