Research Reports

Key takeaways

Revenue reached $1.9B, up 9.2% year-over-year, primarily from higher VIP and mass market table games volume at Wynn Palace and increased casino volumes at Las Vegas Operations.

Operating income increased to $282.6M, a 5.2% rise, as revenue growth outpaced higher casino expenses driven by gaming taxes at Macau Operations.

Net income surged 65.6% to $120.5M, reflecting improved profitability from casino revenue strength across key properties.

Diluted EPS rose 50.7% to $1.04, supported by broad-based operating gains.

Net cash from operating activities grew to $153M, funding $179M in capital expenditures that resulted in negative free cash flow of -$25.6M.

Operating margin stood at 15.2%, sustained by revenue expansion despite cost pressures in gaming and hospitality.

Full analysis

Wynn Resorts reported solid Q1 2026 results with revenue of $1.9 billion, up 9.2% from the prior year, primarily driven by higher VIP and mass market table games volume at Wynn Palace and increased casino volumes at Las Vegas Operations. This topline strength supported operating income of $282.6 million, a 5.2% increase, even as total operating expenses rose mainly due to elevated casino expenses at Macau Operations from higher gaming tax expense, alongside food and beverage cost increases at Las Vegas Operations and Wynn Palace. The 15.2% operating margin reflects effective cost management relative to revenue growth, enabling net income to more than double to $120.5 million (65.6% YoY) and diluted EPS to $1.04 (50.7% YoY).

WYNN · Wynn Resorts, Limited

Summary

Key takeaways

Full analysis