Revenue & Profit Surge
Wynn Resorts, Limited posted $1.86 billion in operating revenue for the second quarter ended June 30, 2026, up $119.1 million from $1.74 billion in the same period a year earlier. Net income attributable to the company more than doubled to $140.1 million from $66.2 million in Q2 2025, with diluted earnings per share climbing to $1.32 from $0.64. Adjusted Property EBITDAR reached $568.3 million for the quarter, a $15.9 million improvement over the prior-year period.
Food and beverage revenues across the portfolio totaled $264.3 million for the quarter, edging up from $261.1 million in Q2 2025, and reached $523.4 million for the first half of 2026 compared to $510.9 million in the same period last year. For hospitality operators benchmarking luxury integrated resort performance, the Las Vegas properties continue to command a $575 average daily rate and a RevPAR of $501—figures that reflect the sustained pricing power of premium urban resort destinations. Rooms revenue held nearly flat at $290.3 million for the quarter as Las Vegas occupancy dipped to 87.1% from 89.2% a year ago.
Property-Level Picture
Macau was the clear growth engine. Wynn Palace generated $653.4 million in operating revenue for the quarter, a 21.1% increase over Q2 2025, with Adjusted Property EBITDAR rising 28.2% to $201.5 million. A notably elevated mass market table games win percentage of 29.7%—compared to 22.3% a year earlier—amplified the gains. Wynn Macau added modestly, with revenue reaching $351.1 million and EBITDAR of $95.5 million, essentially flat year-over-year.
The Las Vegas operations generated $643.2 million in revenue, a slim $4.6 million improvement, while EBITDAR declined to $215.2 million from $234.8 million—a pressure point hospitality executives will note amid a softening in entertainment and retail revenues, which fell 6.9% to $81.2 million. Encore Boston Harbor also gave back ground, with revenue down $6.4 million to $209.3 million and EBITDAR falling to $56.1 million from $63.9 million, reflecting a table games win percentage that came in at the low end of the property's expected range.
UAE Opening Confirmed
The quarter's most forward-looking development for the broader hospitality industry came with the formal confirmation of a September 2027 opening date for Wynn Al Marjan Island in Ras Al Khaimah, UAE. CEO Craig Billings described it as "the most exciting integrated resort to be developed in over a decade." Wynn contributed $48.1 million in cash to the 40%-owned joint venture during Q2 2026, bringing total life-to-date cash contributions to $1.06 billion. The property represents a significant geographic diversification for a company whose revenue has historically been concentrated across Las Vegas, Macau, and Boston.
For operators and food and beverage professionals tracking the luxury end of global hospitality, the UAE development underscores the continued appetite among integrated resort operators to build premium dining and entertainment ecosystems in emerging gaming markets. The company also declared a $0.25 per share cash dividend payable August 28, 2026, and repurchased 741,098 shares at an average price of $101.20 during the quarter.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.
