Wynn Macau Q126 Earnings Rise on Improved Gaming Volumes
Operating revenues for Wynn Macau Ltd grew significantly in the first quarter of 2026. The company’s operating revenues jumped by 14.2% to hit $989 million compared to the corresponding period the previous year. According to a press release issued by Wynn Resorts, the increase was attributed to a positive change in the volume of games in its operations in Macau, while the CEO of the group, Craig Billings, explained that volumes had increased significantly for the business alongside decent market share.
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The Macau business posted total operating income of $145.3 million for the 3 months to March 31, up 14.3% from $127.1 million a year earlier. Adjusted Property EBITDAR also increased, climbing 10.8% year-on-year to $279.4 million. The figures point to a stronger start to the year for Wynn’s Macau portfolio, with the better performance led by one of its flagship properties.
Wynn Palace Drives Growth
The main source of growth in the company’s operating revenues came from Wynn Palace, whose operating revenues grew by 27.1% to reach $659.3 million from $535.9 million in the previous year’s corresponding period. The company said Wynn Palace accounted for the bulk of the increase in Macau revenue during the quarter.
Billings said the first-quarter figures reflected the strength of Wynn’s business across all of its markets. At Wynn Palace, the mass market table games win percentage reached 26.6% in the quarter, compared with 24.8% in the prior-year period. VIP table games’ win percentage was 3.11%, which sat within the property’s expected range of 3.1% to 3.4% and was above the 2.61% recorded a year earlier.
The Macau flagship continued to strongly contribute to the group’s regional performance. Since both the revenue and EBITDAR were increasing, it was evident that Wynn Palace was the major factor in improving the performance of the quarter.
Wynn Macau Performance Drops
However, there was a slight performance drop at Wynn Macau. The operating revenue of Wynn Macau was $329.9 million, slightly lower compared to its first-quarter revenue in 2025 ($330 million). Nevertheless, the adjusted property EBITDAR fell from $90.2 million to $75.6 million in the previous year.
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According to the company, there was a decline in the win percentage of mass market table games at Wynn Macau from 18.7% to 15.1%. There was also a reduction in the win percentage of VIP table games from 1.09% to 0.39%, which was below the expected range of 3.1% to 3.4%. That performance contrasted with Wynn Palace and helped limit the pace of growth across the Macau segment.
Group Results And Dividend
At the group level, Wynn Resorts reported total operating revenues of $1.86 billion for the first quarter, up from $1.70 billion a year earlier. Net income attributable to Wynn Resorts Ltd rose to $120.5 million from $72.7 million in the prior-year quarter, while Adjusted Property EBITDAR increased to $562.4 million from $532.9 million.
The company also announced a quarterly cash dividend of $0.25 per share. The payment is scheduled for May 29, 2026, for shareholders of record as of May 18, 2026. The dividend announcement came alongside the stronger quarterly results and adds another financial update to the company’s first-quarter release.
UAE Project Remains On Track
Wynn Resorts said Wynn Al Marjan Island in the United Arab Emirates remains on track to open in 2027. Billings said the company is closely monitoring the broader situation in the Gulf region and taking additional precautions to ensure the safety and well-being of its team on the ground.
During the quarter, Wynn Resorts contributed $100.1 million in cash to the 40%-owned joint venture developing the integrated resort. That brought the company’s total cash contributions to $1.01 billion to date.
Source: Asia Gaming Brief
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