Wynn Resorts Ltd released its 1Q26 financial results this morning, which showed total operating revenues of US$989 million from its Macau subsidiary, Wynn Macau Ltd – up 14.2% year-on-year. It was also 2.2% higher than the December 2025 quarter.
The company also reported a 10.7% year-on-year increase in Adjusted EBITDA to US$279 million at Wynn Macau Ltd with an operating income of US$145 million, improved from US$127 million a year earlier.
Wynn operates two integrated resorts in Macau: Wynn Palace in Cotai and Wynn Macau on the peninsula.
At Wynn Palace, total operating revenues grew by 23.0% year-on-year to US$659.4 million, including a 27.1% increase in casino revenue to US$564.9 million. Adjusted Property EBITDA grew 25.9% to US$203.8 million.
With win rate improving in both the VIP and mass gaming segments compared with 1Q25, VIP table games win grew by 28.4% year-on-year to US$134.2 million on a 7.8% rise in turnover, while mass win grew 24.0% to US$523.8 million on 15.6% improvement in table drop. Machine win rose 20.8% to US$35.5 million.
At Wynn Macau, both operating revenues and casino revenues were essentially flat year-on-year at US$329.9 million and US$276.7 million respectively. Adjusted Property EBITDA fell 16.2% to US$75.6 million.
In the VIP segment, the property saw a significant 59.2% decline in VIP turnover to US$585.9 million, while another quarter of declining win rate – to just 0.39% – saw VIP win fall by 85.5% to US$2.3 million.
The mass segment saw a 23.4% increase in table drop to US$1.90 billion but low hold again impacted win, which remained flat year-on-year at US$288.1 million. Slot machine win grew 48.6% to US$36.2 million.
Group-wide, Wynn Resorts reported total operating revenues of US$1.86 billion in 1Q26, up 9.2% year-on-year, including a 5.9% increase in Las Vegas to US$661.9 million.
Adjusted Property EBITDAR improved by 5.5% to US$562.4 million while net income attributable to Wynn Resorts was US$120.5 million, up 65.7%.
“Our first quarter results reflect the strength of Wynn’s business across all of our markets,” said Craig Billings, CEO of Wynn Resorts. “Las Vegas delivered another quarter of EBITDAR growth and continued to make gains in gaming market share.
“In Macau, we saw a meaningful increase in gaming volumes year-over-year alongside healthy market share, and we were pleased to increase the dividend from Wynn Macau Ltd – a reflection of the strong free cash flow the business is generating.”
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