Wynn Resorts reported higher first-quarter profit. Revenue growth at Wynn Palace in Macau and its Las Vegas operations helped offset weaker results at Encore Boston Harbor.
Net income for Wynn Resorts rose to $120.5 million for the quarter ended March 31, 2026, compared with $72.7 million a year earlier. Operating revenue increased to $1.86 billion from $1.70 billion.
Wynn Palace led the Macau improvement
Wynn Palace generated $659.3 million in operating revenue in Q1, up $123.4 million from $535.9 million a year earlier. Adjusted Property EBITDAR rose to $203.8 million from $161.9 million.
The Cotai property benefited from a stronger mass-market table games win percentage, which reached 26.6% compared with 24.8% in Q1 2025. VIP table games win as a percentage of turnover was 3.11%, within Wynn’s expected range.
Wynn Macau delivered flat revenue at $329.9 million, almost unchanged from $330.0 million last year. Its Adjusted Property EBITDAR fell to $75.6 million from $90.2 million, with mass-market and VIP win percentages both below last year’s levels.
Las Vegas added revenue and EBITDAR
Wynn’s Las Vegas operations produced $661.9 million in operating revenue, up $36.6 million from $625.3 million in the first quarter of 2025. Adjusted Property EBITDAR increased to $232.5 million from $223.4 million.
The Las Vegas table games win percentage was 25.2%, within the property’s expected range of 22% to 26% and above the 24.3% reported a year earlier.
The result kept Las Vegas as Wynn’s largest property-level contributor by Adjusted Property EBITDAR in the quarter. It also gave the group another source of growth alongside Wynn Palace.
Boston fell as Wynn returned cash
Encore Boston Harbor posted operating revenue of $205.7 million, down from $209.2 million last year. Adjusted Property EBITDAR declined to $50.5 million from $57.5 million.
Group Adjusted Property EBITDAR reached $562.4 million, up from $532.9 million in Q1 2025. Adjusted net income was $129.7 million, or $1.25 per diluted share.
Wynn also declared a quarterly cash dividend of $0.25 per share and repurchased $53.8 million of stock during the quarter. The company ended March with $401.1 million remaining under its share repurchase authorization.
Construction continued on Wynn Al Marjan Island in the UAE, where Wynn has now contributed $1.01 billion to the joint venture. The resort is expected to open in 2027.
