Wynn Posts $1.7bn in Q2 2025 Revenue as Net Income Drops 40.8% Year on Year

Wynn Resorts posted mixed results in its Q2 2025 earnings report, with overall revenue showing only a slight lift while profit took a sharp drop. The company brought in $1.7 billion for the quarter, up 0.3% from the same period last year, but net income fell 40.8% to $66.2 million.

Good to know

• Casino revenue was the only segment that grew across the company, up 4.3% year-over-year.
• Wynn has completed its Wynn Mayfair acquisition in London.
• The operator has dropped its bid for a New York gaming license.

Casino operations delivered just over $1.05 billion in revenue for Q2, making it the lone segment with growth compared to last year. Rooms revenue slipped 4.4% to $291.1 million, food and beverage fell 7.2% to $261.1 million, and entertainment, retail, and other dropped 3% to $133.9 million.

Las Vegas properties performed better than most other segments, generating $638.6 million in revenue, up 1.6% year-over-year. Casino revenue from Las Vegas climbed 14.5% to $148.5 million, while rooms and food and beverage contributed $208 million and $194.9 million, respectively. Adjusted property EBITDAR in Las Vegas rose 1.9% to $234.8 million.

Encore Boston Harbor posted $215.7 million in revenue, up 1.5%, and $63.9 million in adjusted property EBITDAR, a 2.8% gain. In Macau, Wynn Palace revenue dipped 1.5% to $539.6 million, while Wynn Macau saw a 1.9% increase to $343.8 million. Across the company, adjusted property EBITDAR fell 3.4% to $552.4 million.

Expansion Moves and Strategic Changes

June 2025 marked the completion of Wynn’s purchase of the Wynn Mayfair property from Crown Resorts, after receiving final approval from the Gambling Commission. This acquisition strengthens Wynn’s presence in Europe and supports its push into the Middle East ahead of its Wynn Al Marjan Island resort opening in the UAE in early 2027.

Not all expansion plans went ahead, though. On May 19, Wynn announced it had withdrawn its application for a New York gaming license, effectively ending its Hudson Yards casino project. The move followed April’s City Planning Commission approval of the proposal, though the vote didn’t guarantee the project could proceed.

Despite softer earnings outside the casino segment, Wynn’s cost structure remained stable, with Q2 expenses totaling $1.47 billion, only $10 million higher than last year. The company’s focus now appears to be on building its international footprint while maintaining strong performance in its casino operations.

The post Wynn Posts $1.7bn in Q2 2025 Revenue as Net Income Drops 40.8% Year on Year appeared first on iGaming.org.