Dive Brief:
- Wynn Resorts saw operating revenues and adjusted property EBITDAR increase year over year in the second quarter of 2026, reflecting “continued healthy demand dynamics throughout our business,” CEO Craig Billings said in an earnings report published Tuesday.
- In Las Vegas, specifically, Wynn’s operating revenues and adjusted property EBITDAR were up year over year in Q2, with the company seeing a monthly record for adjusted property EBITDAR in May, per the report.
- Billings said during a Tuesday earnings call that he “remains positive” about the business in Las Vegas amid improving market fundamentals, including solid group booking pace.
Dive Insight:
Wynn saw RevPAR increase 3% year over year in Q2 in Las Vegas, where the company operates Wynn Las Vegas and Encore, Billings said on the call.
“Solid” demand fundamentals continued into July, with forward booking pace for group and convention business in Las Vegas accelerating during the month and looking strong in the fourth quarter of this year and into 2027, per Billings.
“Full-year ‘26 group pace remains ahead of ‘25, so we’re pacing well in both room nights and rates,” Brian Gullbrants, Wynn’s chief operating officer for North America, said on the call.
Wynn competitor MGM Resorts benefited from “a solid underlying base of group and convention business” in Las Vegas in Q2, MGM CEO Bill Hornbuckle said during an earnings call last month. MGM saw both revenues and adjusted EBITDAR increase year over year in Las Vegas in Q2, while Caesars Entertainment saw net revenues decline in the market in the quarter.
Both MGM Resorts and Caesars received offers to go private during the second quarter.
Beyond Las Vegas, Wynn saw notably solid results in Macau during the second quarter, Billings said on the call.
