Tiger Brokers

Wynn Macau Reports Fourth Quarter Operating Revenue Increase of $7.7 Million to $371.3 Million

Stock News
Feb 13

Wynn Macau announced the fourth quarter and annual results for its controlling shareholder, Wynn Resorts, Limited, for the period ending December 31, 2025. During the fourth quarter of 2025, the operating revenue for Wynn Palace and Wynn Macau increased by $33.4 million and $7.7 million, respectively, compared to the same period in 2024. In contrast, the Las Vegas operations and Encore Boston Harbor saw decreases of $11.4 million and $2.5 million, respectively, compared to the fourth quarter of 2024.

For the fourth quarter of 2025, the adjusted property EBITDAR for the Las Vegas operations, Wynn Palace, Encore Boston Harbor, and Wynn Macau decreased by $26.6 million, $21.1 million, $1.8 million, and $0.7 million, respectively, compared to the fourth quarter of 2024.

For the full year ending December 31, 2025, the operating revenue for Wynn Palace and the Las Vegas operations increased by $89.7 million and $1.1 million, respectively, compared to the previous year. Conversely, Wynn Macau and Encore Boston Harbor experienced decreases of $54.0 million and $10.3 million, respectively, compared to the year ending December 31, 2024.

Over the full year ending December 31, 2025, the adjusted property EBITDAR for Wynn Palace, Wynn Macau, Las Vegas operations, and Encore Boston Harbor decreased by $50.8 million, $39.7 million, $44.4 million, and $10.4 million, respectively, compared to the prior year.

In the fourth quarter of 2025, Wynn Palace's operating revenue was $596.4 million, an increase of $33.4 million from the $562.9 million recorded in the same quarter of 2024. The adjusted property EBITDAR for Wynn Palace in the fourth quarter of 2025 was $163.5 million, compared to $184.6 million in the fourth quarter of 2024.

The win rate for mass market table games was 21.8%, lower than the 26.0% recorded in the fourth quarter of 2024. The win rate for VIP table games as a percentage of turnover was 2.84%, below the property's expected range of 3.1% to 3.4% and also lower than the 3.51% recorded in the fourth quarter of 2024.

In the fourth quarter of 2025, Wynn Macau's operating revenue was $371.3 million, an increase of $7.7 million from the $363.7 million reported in the same quarter of 2024. The adjusted property EBITDAR for Wynn Macau in the fourth quarter of 2025 was $107.4 million, compared to $108.2 million in the fourth quarter of 2024.

The win rate for mass market table games was 17.0%, lower than the 17.9% recorded in the fourth quarter of 2024. The win rate for VIP table games as a percentage of turnover was 3.49%, above the property's expected range of 3.1% to 3.4% but lower than the 5.01% recorded in the fourth quarter of 2024.

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