Wynn Resorts shares edged up 2.8% post-earnings, reflecting a generally steady quarter across most segments despite notable cost pressures and project delays weighing on near-term margins and timelines.
- Wynn Las Vegas EBITDAR reached $215 million with a 33.5% margin, although slight unfavorable hold shaved $3.6 million; operating expenses rose 6.2% year-over-year due to increased volumes and ongoing investments in premium experiences.
- Encore Boston Harbor posted $56 million of EBITDAR on $209 million revenue, maintaining disciplined cost control as OpEx per day increased just 2.9% amid labor headwinds; margin at 26.8%.
- Macau delivered $297 million EBITDAR on $1 billion revenue, with VIP hold shortfall costing about $8.6 million; OpEx per day increased 9% year-over-year driven by premium customer investments and inflation.
- Wynn Al Marjan Island project faces a $600 million budget increase and a revised opening delayed to September 2027, attributed partly to regional conflict-related disruptions impacting supply chains and costs.
- Construction approved on Macau’s Event Center and Theater with completion expected in 2028, underscoring continued capital commitments despite near-term challenges.
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