Wynn Resorts reported its third-quarter 2026 results Thursday, and the company’s Las Vegas resorts on the north Strip had a tougher quarter than a year ago, largely because the casino’s table games held less than usual.
The Las Vegas numbers
Wynn Las Vegas and Encore brought in $575.2 million in operating revenue for the quarter that ended Sept. 30, down 7.4% from $621.0 million a year earlier, according to the company’s earnings release. Adjusted Property EBITDAR, a key measure of property profit, fell 21.9% to $158.8 million.
The hotel side held up: occupancy was 85.5%, nearly flat with last year, while the average daily room rate rose 3.4% to $522 and revenue per available room rose 3.2% to $447.
The weak spot was table games. Wynn said its Las Vegas table games win percentage was 18.9%, below its expected range of 22% to 26% and below 23.0% a year ago. CEO Craig Billings said Wynn Las Vegas was “negatively impacted by a hold rate outside of our expected range.”
Company-wide
Total operating revenue across Wynn Resorts was $1.69 billion, down from $1.83 billion. Net income attributable to the company was $17.3 million, or 17 cents a diluted share, compared with $88.3 million a year earlier. Revenue and property profit were also lower at Encore Boston Harbor, where a strike began in early September, and at Wynn Palace and Wynn Macau.
The board declared a 25-cent-per-share cash dividend, payable Nov. 30 to shareholders of record on Nov. 16. Wynn said its Wynn Al Marjan Island resort in the United Arab Emirates is expected to open in September 2027.
Separately, the Las Vegas Review-Journal reported Thursday that Wynn Resorts is contemplating a development use for its land along Las Vegas Boulevard.
What it means for locals and visitors
For visitors, the room numbers show demand at Wynn and Encore is steady and rates are still climbing, so don’t expect bargain pricing on the north Strip. The revenue drop came mainly from the casino’s luck at the tables, not from empty rooms. For locals and drivers, the resort remains one of the busiest pickup points on the north end of the Strip, and any future plans for Wynn’s Strip land are worth watching.
Leave a Reply