Wynn Resorts Stock Down on Q3 Earnings Miss, Revenues Up Y/Y

Wynn Resorts, Limited WYNN reported mixed third-quarter 2025 results, with earnings missing the Zacks Consensus Estimate but revenues beating the same. The top line increased year over year, while the bottom line fell from the prior-year quarter’s figure.

The quarter’s results reflect solid performance across Wynn Resorts’ properties, driven by strong EBITDA growth in Macau and continued outperformance in Las Vegas. Macau operations benefited from healthy market share gains and a significant year-over-year increase in mass table drop. In Las Vegas, the company delivered another quarter of EBITDA growth and gained further gaming market share. Additionally, notable progress was made on the Wynn Al Marjan Island project, with construction advancing toward completion.

WYNN stock lost 1% in yesterday’s after-hours trading session, following the earnings release.

WYNN’s Q3 Earnings & Revenues

The company reported adjusted earnings per share (EPS) of 86 cents, missing the Zacks Consensus Estimate of $1.09. In the prior-year quarter, the company reported an adjusted EPS of 90 cents. 

Wynn Resorts, Limited Price, Consensus and EPS Surprise

Wynn Resorts, Limited price-consensus-eps-surprise-chart | Wynn Resorts, Limited Quote

Quarterly operating revenues of $1.83 billion topped the consensus mark by 3.9%. The top line inched up 8.3% on a year-over-year basis.

Wynn Palace Operations

During the third quarter, Wynn Palace’s operating revenues came in at $635.5 million, up 22.3% year over year. Adjusted property EBITDAR increased 23.4% to $200.3 million.

Casino revenues were $542.4 million, up 29.8% from last year, while room revenues fell 23.9% to $37.4 million. Food and beverage revenues increased 5.7% to $33.3 million. RevPAR declined 24.9% year over year to $217, with ADR also down 26.1% to $221.

Wynn Macau Operations

Wynn Macau’s operating revenues amounted to $365.5 million, up 3.9% year over year. Adjusted property EBITDAR was $108 million, up 7.4% year over year from $100.6 million in the prior-year quarter.

Casino revenues rose 6% year over year to $314.5 million, while room revenues fell 11% to $21.1 million. Revenues from food and beverage fell 11.2% to $17.3 million. Entertainment, retail and other revenues increased 5.3% year over year to $12.5 million. RevPAR declined 10.9% to $205, with ADR down 11.2% to $207.

Las Vegas Operations

Operating revenues from Las Vegas operations were $621 million, up 2.3% year over year. Adjusted property EBITDAR increased 0.3% to $203.4 million.

Casino revenues jumped 11.3% year over year to $161.6 million. Room revenues fell 0.2% to $186.7 million, while food and beverage revenues rose 0.4% to $192.5 million. Entertainment, retail and other revenues decreased 3.5% year over year to $80.2 million. RevPAR decreased 1.8% to $433, with ADR rising 2% to $505.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $211.6 million, down 1.1% year over year. Adjusted property EBITDAR fell 7.3% to $58.4 million.

Casino revenues fell 1.6% to $156.2 million. Food and beverage revenues declined 5% year over year to $18.8 million, while room revenues increased 2% to $25.2 million. Entertainment, retail and other revenues increased 6% year over year to $11.5 million. RevPAR remained flat year over year to $412, with ADR up 1.2% to $431.

Operating Performance of Wynn Resorts

In the third quarter, adjusted property EBITDAR totaled $570.1 million, up from $527.7 million in the prior-year quarter. EBITDAR margin contracted to 31.1% from 31.2% in the prior year.

Cash Position of WYNN

As of Sept. 30, 2025, Wynn Resorts’ cash and cash equivalents totaled $1.49 billion compared with $1.98 billion in the prior quarter.

Total current and long-term outstanding debt at the end of the third quarter amounted to $10.57 billion, including $5.81 billion of Macau-related debt, $876 million of Wynn Las Vegas debt, $3.28 billion of Wynn Resorts Finance debt and $598.1 million of retail joint venture debt.

WYNN’s Zacks Rank

Wynn Resorts currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Consumer Discretionary Releases

Norwegian Cruise Line Holdings Ltd. NCLH reported third-quarter 2025 results, with earnings beating the Zacks Consensus Estimate, but revenues missing the same.

Norwegian Cruise Line’s results benefited from robust demand across all three brands and strong execution both onboard and shoreside. Its diversified portfolio attracted a wide range of travelers, supporting record revenues and occupancy levels. In fourth-quarter 2025, Norwegian Cruise Line is expected to gain from its strategic focus on Caribbean itineraries, which are drawing more families. Load factors are projected to exceed 2024 levels as momentum continues into 2026. Additionally, strong luxury demand for Oceania and Regent brands will further support growth.

Marriott International, Inc. MAR reported third-quarter 2025 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. Its earnings beat the estimate for the fourth straight quarter. Both metrics increased on a year-over-year basis.

Marriott delivered strong performance in the quarter, supported by solid room growth, profit gains and continued development momentum. The Asia Pacific region performed well, driven by healthy travel demand in Japan, Australia and Vietnam. The luxury segment continued to outperform, supported by strong rates and sustained demand. With consistent execution and growing global demand, Marriott remains on track to achieve healthy net rooms growth of 5% for 2025 and maintain mid-single-digit expansion over the next few years.

Hasbro, Inc. HAS reported third-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure. The downside was mainly due to weaker contributions from the Consumer Products segment.
 
Nonetheless, Hasbro raised its full-year revenue and adjusted EBITDA guidance. The update was supported by strong performance in the Wizards segment, along with steady contributions from the games portfolio, licensing partnerships and execution of the “Playing to Win” strategy. Despite ongoing macroeconomic challenges, Hasbro expects cost efficiency measures and business diversification to support its growth plans for 2025 and beyond.

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