Wynn Resorts said operating revenues for the quarter ended March 31, 2025 decreased primarily due to a decrease in Macau Operations operating revenues of $132.8 million. The company cited lower VIP win as a percentage of turnover, decreased mass market table games win, and lower ADR across its properties as factors.

1. 01

   Wynn Resorts said operating revenues for the quarter ended March 31, 2025 decreased primarily due to a decrease in Macau Operations operating revenues of $132.8 million. The company cited lower VIP win as a percentage of turnover, decreased mass market table games win, and lower ADR across its properties as factors.

2. 02

   Wynn Resorts said Adjusted Property EBITDAR for Q1 2025 decreased $47.0 million at Wynn Macau and $40.5 million at Wynn Palace. The company said the combined decrease in casino revenues at the two properties of $100.1 million was the primary driver, partially offset by a decrease in gaming tax expense.

3. 03

   Wynn Resorts repurchased 2,504,560 shares of its common stock for an aggregate cost of $212.0 million during Q1 2025, including 2,360,194 shares repurchased pursuant to its publicly announced equity repurchase program for $200.0 million. The company made dividend payments of $26.8 million in the same quarter, and as of March 31, 2025 the remaining authorization under its repurchase program was $613.0 million.

4. 04

   Wynn Resorts said it contributed cash of $51.2 million to Island 3 during Q1 2025, bringing cumulative cash contributions to $682.9 million. The company estimated remaining capital contributions required based on its 40% equity interest at $650 million to $725 million and said it expects the property to open in 2027.

Key figures

Quarter ended March 31, 2025

Revenue

$1.7B

Operating income

$269M

Net income

$73M

EPS

$0.69

Operating cash flow

$134M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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