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Wynn Resorts, Limited Reports Third Quarter 2025 Results

LAS VEGAS, November 6, 2025 — Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the third quarter ended September 30, 2025.

Operating revenues were $1.83 billion for the third quarter of 2025, an increase of $140.4 million from $1.69 billion for the third quarter of 2024. Net income attributable to Wynn Resorts, Limited was $88.3 million for the third quarter of 2025, compared to net loss attributable to Wynn Resorts, Limited of $32.1 million for the third quarter of 2024. Diluted net income per share was $0.85 for the third quarter of 2025, compared to diluted net loss per share of $0.29 for the third quarter of 2024. Adjusted Property EBITDAR(1) was $570.1 million for the third quarter of 2025, compared to Adjusted Property EBITDAR of $527.7 million for the third quarter of 2024.

“Our third quarter results were marked by impressive EBITDA growth in Macau, and continued outperformance in Las Vegas,” said Craig Billings, CEO of Wynn Resorts, Limited. “In Macau, we achieved healthy market share and saw a significant increase in mass table drop year over year. In Las Vegas, the team delivered another quarter of year over year EBITDA growth and continued to take gaming market share. We also made significant progress on the completion of Wynn Al Marjan Island, where we are now pouring concrete for the remaining few floors of the 70-story tower.”

Consolidated Results

Operating revenues were $1.83 billion for the third quarter of 2025, an increase of $140.4 million from $1.69 billion for the third quarter of 2024. For the third quarter of 2025, operating revenues increased $115.7 million, $13.8 million, and $13.6 million at Wynn Palace, our Las Vegas Operations, and Wynn Macau, respectively, and decreased $2.4 million at Encore Boston Harbor, from the third quarter of 2024.

Net income attributable to Wynn Resorts, Limited was $88.3 million for the third quarter of 2025, compared to net loss attributable to Wynn Resorts, Limited of $32.1 million for the third quarter of 2024. Diluted net income per share was $0.85 for the third quarter of 2025, compared to diluted net loss per share of $0.29 for the third quarter of 2024. Adjusted net income attributable to Wynn Resorts, Limited(2) was $88.7 million, or $0.86 per diluted share, for the third quarter of 2025, compared to adjusted net income attributable to Wynn Resorts, Limited of $98.9 million, or $0.90 per diluted share, for the third quarter of 2024.

Adjusted Property EBITDAR was $570.1 million for the third quarter of 2025, an increase of $42.4 million compared to Adjusted Property EBITDAR of $527.7 million for the third quarter of 2024. For the third quarter of 2025, Adjusted Property EBITDAR increased $38.0 million, $7.4 million, and $0.7 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively, and decreased $4.6 million at Encore Boston Harbor, from the third quarter of 2024.

Wynn Resorts, Limited also announced today that its Board of Directors has declared a cash dividend of $0.25 per share, payable on November 26, 2025 to stockholders of record as of November 17, 2025.

Property Results

Macau Operations

Wynn Palace

Operating revenues from Wynn Palace were $635.5 million for the third quarter of 2025, an increase of $115.7 million from $519.8 million for the third quarter of 2024. Adjusted Property EBITDAR from Wynn Palace was $200.3 million for the third quarter of 2025, compared to $162.3 million for the third quarter of 2024. Table games win percentage in mass market operations was 22.6%, below the 23.9% experienced in the third quarter of 2024. VIP table games win as a percentage of turnover was 4.68%, above the property's expected range of 3.1% to 3.4% and above the 3.04% experienced in the third quarter of 2024.

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Wynn Macau

Operating revenues from Wynn Macau were $365.5 million for the third quarter of 2025, an increase of $13.6 million from $352.0 million for the third quarter of 2024. Adjusted Property EBITDAR from Wynn Macau was $108.0 million for the third quarter of 2025, compared to $100.6 million for the third quarter of 2024. Table games win percentage in mass market operations was 18.7%, slightly above the 18.5% experienced in the third quarter of 2024. VIP table games win as a percentage of turnover was 2.93%, below the property's expected range of 3.1% to 3.4% and below the 3.61% experienced in the third quarter of 2024.

Las Vegas Operations

Operating revenues from our Las Vegas Operations were $621.0 million for the third quarter of 2025, an increase of $13.8 million from $607.2 million for the third quarter of 2024. Adjusted Property EBITDAR from our Las Vegas Operations for the third quarter of 2025 was $203.4 million, compared to $202.7 million for the third quarter of 2024. Table games win percentage for the third quarter of 2025 was 23.0%, within the property's expected range of 22% to 26% and slightly below the 23.3% experienced in the third quarter of 2024.

Encore Boston Harbor

Operating revenues from Encore Boston Harbor were $211.8 million for the third quarter of 2025, a decrease of $2.4 million from $214.1 million for the third quarter of 2024. Adjusted Property EBITDAR from Encore Boston Harbor for the third quarter of 2025 was $58.4 million, compared to $63.0 million for the third quarter of 2024. Table games win percentage for the third quarter of 2025 was 20.5%, within the property's expected range of 18% to 22% and below the 21.3% experienced in the third quarter of 2024.

Wynn Al Marjan Island Development

During the third quarter of 2025, the Company contributed $93.9 million of cash to the 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing our life-to-date cash contributions to the project to $835.0 million. Wynn Al Marjan Island is currently expected to open in 2027.

Balance Sheet

Our cash and cash equivalents as of September 30, 2025 totaled $1.49 billion, excluding $475.0 million of short-term investments held by Wynn Macau, Limited ("WML"). Cash and cash equivalents is comprised of $973.3 million held by WML and subsidiaries, $228.7 million held by Wynn Resorts Finance, LLC ("WRF") and subsidiaries excluding WML, and $284.3 million held at Corporate and other. As of September 30, 2025, the available borrowing capacity under the WRF Revolver and the WM Cayman II Revolver was $1.23 billion and $1.36 billion, respectively.

Total current and long-term debt outstanding at September 30, 2025 was $10.57 billion, comprised of $5.81 billion of Macau related debt, $876.0 million of Wynn Las Vegas debt, $3.28 billion of WRF debt, and $598.1 million of debt held by the retail joint venture which we consolidate.

Recent Debt Financing Activities

In August 2025, WML issued $1.0 billion aggregate principal amount of 6 3/4% Senior Notes due 2034, and in September 2025, used the net proceeds from the offering, along with cash on hand, to redeem in full the outstanding $1.0 billion aggregate principal amount of its 5 1/2% Senior Notes due 2026 at a price equal to 100% of the principal amount.

As previously disclosed, in July 2025, we increased the borrowing capacity under the WM Cayman II Revolver by an additional aggregate amount of $1.0 billion equivalent through the exercise of an accordion feature under the existing facility agreement, bringing the total committed amount to $2.5 billion equivalent.

Conference Call and Other Information

The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on November 6, 2025 at 1:30 p.m. PT (4:30 p.m. ET). Interested parties are invited to join the call by accessing a live audio webcast at http://www.wynnresorts.com. On or before November 14, 2025, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended September 30, 2025 available to noteholders, prospective investors, broker-dealers and securities analysts. Please contact our investor relations office at 702-770-7555 or at investorrelations@wynnresorts.com, to obtain access to such financial information.

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Forward-looking Statements

This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, reductions in discretionary consumer spending, adverse macroeconomic conditions and their impact on levels of disposable consumer income and wealth, changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, general global political conditions, adverse tourism trends, travel disruptions caused by events outside of our control, dependence on a limited number of resorts, competition in the casino/hotel and resort industries, uncertainties over the development and success of new gaming and resort properties, construction and regulatory risks associated with current and future projects (including Wynn Al Marjan Island), cybersecurity risk and our leverage and ability to meet our debt service obligations. Additional information concerning potential factors that could affect the Company's financial results is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as supplemented by the Company's other periodic reports filed with the Securities and Exchange Commission from time to time. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures

(1) "Adjusted Property EBITDAR" is net income (loss) before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other expenses, triple-net operating lease rent expense related to Encore Boston Harbor, management and license fees, corporate expenses and other expenses (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, loss on debt financing transactions, and other non-operating income and expenses. Adjusted Property EBITDAR is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDAR as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors, as well as a basis for determining certain incentive compensation. We also present Adjusted Property EBITDAR because it is used by some investors to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDAR as a supplement to GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their EBITDAR calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDAR should not be considered as an alternative to operating income as an indicator of our performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income (loss), Adjusted Property EBITDAR does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. We have significant uses of cash flows, including capital expenditures, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, our calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

(2) "Adjusted net income attributable to Wynn Resorts, Limited" is net income (loss) attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other expenses, change in derivatives fair value, loss on debt financing transactions, foreign currency remeasurement and other, and income taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share are presented as supplemental disclosures to financial measures in accordance with GAAP because management believes that these non-GAAP financial measures are widely used to measure the performance, and as a principal basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to net income per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

The Company has included schedules in the tables that accompany this release that reconcile (i) net income (loss) attributable to Wynn Resorts, Limited to adjusted net income attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDAR, and (iii) net income (loss) attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited) 

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Operating revenues:
Casino			$	1,174,717					$	1,018,754					$	3,266,981					$	3,149,166
Rooms			270,484						284,765						836,058						916,700
Food and beverage			261,990						262,597						772,926						810,939
Entertainment, retail and other			126,556						127,207						395,976						412,359
Total operating revenues			1,833,747						1,693,323						5,271,941						5,289,164
Operating expenses:
Casino			705,421						617,469						1,983,362						1,907,426
Rooms			86,385						83,376						256,524						245,991
Food and beverage			231,100						220,187						656,167						647,351
Entertainment, retail and other			54,541						56,184						174,768						190,137
General and administrative			275,035						271,829						831,539						808,172
Provision for credit losses			4,505						1,836						9,254						4,352
Pre-opening			7,289						2,457						23,862						6,050
Depreciation and amortization			152,828						156,273						461,156						507,611
Property charges and other			6,154						150,475						31,631						206,238
Total operating expenses			1,523,258						1,560,086						4,428,263						4,523,328
Operating income			310,489						133,237						843,678						765,836
Other income (expense):
Interest income			16,581						30,729						51,799						105,785
Interest expense, net of amounts capitalized			(157,581)						(167,922)						(469,740)						(524,922)
Change in derivatives fair value			(13,176)						(5,523)						(43,827)						(7,920)
Loss on debt financing transactions			(618)						(109)						(1,701)						(1,670)
Other			33,868						21,300						(10,670)						25,323
Other income (expense), net			(120,926)						(121,525)						(474,139)						(403,404)
Income before income taxes			189,563						11,712						369,539						362,432
Provision for income taxes			(61,136)						(17,127)						(82,746)						(45,076)
Net income (loss)			128,427						(5,415)						286,793						317,356
Less: net income attributable to noncontrolling interests			(40,086)						(26,638)						(59,487)						(93,250)
Net income (loss) attributable to Wynn Resorts, Limited			$	88,341					$	(32,053)					$	227,306					$	224,106
Basic and diluted net income (loss) per common share:
Net income (loss) attributable to Wynn Resorts, Limited:
Basic			$	0.86					$	(0.29)					$	2.19					$	2.03
Diluted			$	0.85					$	(0.29)					$	2.18					$	2.02
Weighted average common shares outstanding:
Basic			102,909						109,727						103,955						110,559
Diluted			103,636						109,727						104,373						110,810

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED

TO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED

(in thousands, except per share data)

(unaudited)

 

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Net income (loss) attributable to Wynn Resorts, Limited			$	88,341					$	(32,053)					$	227,306					$	224,106
Pre-opening expenses			7,289						2,457						23,862						6,050
Property charges and other			6,154						150,475						31,631						206,238
Change in derivatives fair value			13,176						5,523						43,827						7,920
Loss on debt financing transactions			618						109						1,701						1,670
Foreign currency remeasurement and other			(33,868)						(21,300)						10,670						(25,323)
Income tax impact on adjustments			2,846						(10,096)						(2,008)						(20,348)
Noncontrolling interests impact on adjustments			4,143						3,787						(21,810)						(105)
Adjusted net income attributable to Wynn Resorts, Limited			$	88,699					$	98,902					$	315,179					$	400,208
Adjusted net income attributable to Wynn Resorts, Limited per diluted share			$	0.86					$	0.90					$	3.02					$	3.61
Weighted average common shares outstanding - diluted			103,636						109,930						104,373						110,810

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR

(in thousands)

(unaudited)

			Three Months Ended September 30, 2025
			Wynn Palace						Wynn Macau						Other Macau						Total Macau Operations						Las Vegas Operations						Encore Boston Harbor						Corporate and Other						Total
Operating income (loss)			$	112,418					$	75,195					$	(9,653)					$	177,960					$	96,813					$	(2,888)					$	38,604					$	310,489
Pre-opening expenses			1						—						—						1						210						—						7,078						7,289
Depreciation and amortization			60,012						18,157						399						78,568						57,449						14,194						2,617						152,828
Property charges and other			4,423						190						12						4,625						1,262						128						139						6,154
Management and license fees			20,206						11,318						—						31,524						29,390						10,325						(71,239)						—
Corporate expenses and other			1,893						1,912						8,314						12,119						6,784						1,333						15,485						35,721
Stock-based compensation			1,329						1,226						928						3,483						11,505						360						7,316						22,664
Triple-net operating lease rent expense			—						—						—						—						—						34,942						—						34,942
Adjusted Property EBITDAR			$	200,282					$	107,998					$	—					$	308,280					$	203,413					$	58,394					$	—					$	570,087

			Three Months Ended September 30, 2024
			Wynn Palace						Wynn Macau						Other Macau						Total Macau Operations						Las Vegas Operations						Encore Boston Harbor						Corporate and Other						Total
Operating income (loss)			$	85,417					$	66,342					$	(8,212)					$	143,547					$	(28,040)					$	4,072					$	13,658					$	133,237
Pre-opening expenses			—						—						—						—						884						2						1,571						2,457
Depreciation and amortization			55,978						19,658						395						76,031						61,071						12,766						6,405						156,273
Property charges and other			879						265						12						1,156						130,367						(1,785)						20,737						150,475
Management and license fees			16,694						10,943						—						27,637						28,616						10,460						(66,713)						—
Corporate expenses and other			2,069						2,087						6,687						10,843						7,979						1,768						15,594						36,184
Stock-based compensation			1,246						1,299						1,118						3,663						1,843						354						7,810						13,670
Triple-net operating lease rent expense			—						—						—						—						—						35,381						—						35,381
Adjusted Property EBITDAR			$	162,283					$	100,594					$	—					$	262,877					$	202,720					$	63,018					$	(938)					$	527,677

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR

(in thousands)

(unaudited)

			Nine Months Ended September 30, 2025
			Wynn Palace						Wynn Macau						Other Macau						Total Macau Operations						Las Vegas Operations						Encore Boston Harbor						Corporate and Other						Total
Operating income (loss)			$	267,743					$	190,925					$	(25,276)					$	433,392					$	323,349					$	(12,576)					$	99,513					$	843,678
Pre-opening expenses			4,205						—						—						4,205						3,065						—						16,592						23,862
Depreciation and amortization			175,793						55,661						1,195						232,649						178,898						42,389						7,220						461,156
Property charges and other			6,246						5,629						28						11,903						10,327						6,691						2,710						31,631
Management and license fees			55,311						32,339						—						87,650						88,838						30,915						(207,403)						—
Corporate expenses and other			6,144						6,306						21,201						33,651						22,272						4,606						58,219						118,748
Stock-based compensation			3,931						3,847						2,852						10,630						34,837						2,285						23,149						70,901
Triple-net operating lease rent expense			—						—						—						—						—						105,397						—						105,397
Adjusted Property EBITDAR			$	519,373					$	294,707					$	—					$	814,080					$	661,586					$	179,707					$	—					$	1,655,373

			Nine Months Ended September 30, 2024
			Wynn Palace						Wynn Macau						Other Macau						Total Macau Operations						Las Vegas Operations						Encore Boston Harbor						Corporate and Other						Total
Operating income (loss)			$	307,258					$	228,518					$	(24,311)					$	511,465					$	243,147					$	(30,847)					$	42,071					$	765,836
Pre-opening expenses			—						—						—						—						1,620						649						3,781						6,050
Depreciation and amortization			166,421						59,737						1,165						227,323						181,700						75,842						22,746						507,611
Property charges and other			12,571						711						124						13,406						132,542						(1,615)						61,905						206,238
Management and license fees			52,982						34,288						—						87,270						88,533						31,483						(207,286)						—
Corporate expenses and other			6,457						6,588						19,807						32,852						23,930						5,486						47,531						109,799
Stock-based compensation			3,423						3,849						3,215						10,487						7,843						1,159						24,717						44,206
Triple-net operating lease rent expense			—						—						—						—						—						106,127						—						106,127
Adjusted Property EBITDAR			$	549,112					$	333,691					$	—					$	882,803					$	679,315					$	188,284					$	(4,535)					$	1,745,867

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO

ADJUSTED PROPERTY EBITDAR

(in thousands)

(unaudited)

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Net income (loss) attributable to Wynn Resorts, Limited			$	88,341					$	(32,053)					$	227,306					$	224,106
Net income attributable to noncontrolling interests			40,086						26,638						59,487						93,250
Pre-opening expenses			7,289						2,457						23,862						6,050
Depreciation and amortization			152,828						156,273						461,156						507,611
Property charges and other			6,154						150,475						31,631						206,238
Triple-net operating lease rent expense			34,942						35,381						105,397						106,127
Corporate expenses and other			35,721						36,184						118,748						109,799
Stock-based compensation			22,664						13,670						70,901						44,206
Interest income			(16,581)						(30,729)						(51,799)						(105,785)
Interest expense, net of amounts capitalized			157,581						167,922						469,740						524,922
Change in derivatives fair value			13,176						5,523						43,827						7,920
Loss on debt financing transactions			618						109						1,701						1,670
Other			(33,868)						(21,300)						10,670						(25,323)
Provision for income taxes			61,136						17,127						82,746						45,076
Adjusted Property EBITDAR			$	570,087					$	527,677					$	1,655,373					$	1,745,867

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

SUPPLEMENTAL DATA SCHEDULE

(dollars in thousands, except for win per unit per day, ADR and REVPAR)

(unaudited)

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2025						2024						Percent Change						2025						2024						Percent Change
Wynn Palace Supplemental Information
Operating revenues
Casino			$	542,439					$	418,043					29.8						$	1,435,245					$	1,336,788					7.4
Rooms			37,396						49,145						(23.9)						112,492						153,287						(26.6)
Food and beverage			33,293						31,506						5.7						95,477						93,405						2.2
Entertainment, retail and other			22,344						21,096						5.9						67,828						71,260						(4.8)
Total			$	635,472					$	519,790					22.3						$	1,711,042					$	1,654,740					3.4
Adjusted Property EBITDAR (6)			$	200,282					$	162,283					23.4						$	519,373					$	549,112					(5.4)
Casino statistics:
VIP:
Average number of table games			52						57						(8.8)						53						58						(8.6)
VIP turnover			$	3,261,314					$	3,199,140					1.9						$	11,337,407					$	9,930,241					14.2
VIP table games win (1)			$	152,478					$	97,312					56.7						$	373,481					$	342,024					9.2
VIP table games win as a % of turnover			4.68		%				3.04		%										3.29		%				3.44		%
Table games win per unit per day			$	32,401					$	18,614					74.1						$	25,888					$	21,677					19.4
Mass market:
Average number of table games			247						247						—						248						245						1.2
Table drop (2)			$	2,057,789					$	1,694,575					21.4						$	5,606,241					$	5,215,019					7.5
Table games win (1)			$	465,683					$	404,307					15.2						$	1,299,679					$	1,251,039					3.9
Table games win %			22.6		%				23.9		%										23.2		%				24.0		%
Table games win per unit per day			$	20,714					$	17,801					16.4						$	19,282					$	18,620					3.6
Average number of slot machines			653						596						9.6						643						592						8.6
Slot machine handle			$	710,156					$	577,289					23.0						$	2,202,840					$	1,815,623					21.3
Slot machine win (3)			$	30,482					$	27,230					11.9						$	92,320					$	83,790					10.2
Slot machine win per unit per day			$	513					$	497					3.2						$	528					$	517					2.1
Room statistics:
Occupancy			98.2		%				98.3		%										98.4		%				98.7		%
ADR (4)			$	221					$	295					(25.1)						$	225					$	315					(28.6)
REVPAR (5)			$	217					$	289					(24.9)						$	222					$	311					(28.6)

Note: Our casino operations in Macau were closed for a 1-day period in September 2025 due to Typhoon Ragasa.

9

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

SUPPLEMENTAL DATA SCHEDULE

(dollars in thousands, except for win per unit per day, ADR and REVPAR)

(unaudited) (continued)

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2025						2024						Percent Change						2025						2024						Percent Change
Wynn Macau Supplemental Information
Operating revenues
Casino			$	314,489					$	296,781					6.0						$	883,419					$	923,851					(4.4)
Rooms			21,149						23,755						(11.0)						66,188						76,116						(13.0)
Food and beverage			17,343						19,524						(11.2)						53,155						60,546						(12.2)
Entertainment, retail and other			12,532						11,897						5.3						36,524						40,457						(9.7)
Total			$	365,513					$	351,957					3.9						$	1,039,286					$	1,100,970					(5.6)
Adjusted Property EBITDAR (6)			$	107,998					$	100,594					7.4						$	294,707					$	333,691					(11.7)
Casino statistics:
VIP:
Average number of table games			17						30						(43.3)						23						30						(23.3)
VIP turnover			$	1,019,346					$	1,201,516					(15.2)						$	3,438,127					$	3,955,277					(13.1)
VIP table games win (1)			$	29,873					$	43,326					(31.1)						$	79,025					$	122,705					(35.6)
VIP table games win as a % of turnover			2.93		%				3.61		%										2.30		%				3.10		%
Table games win per unit per day			$	18,871					$	15,692					20.3						$	12,862					$	14,988					(14.2)
Mass market:
Average number of table games			238						222						7.2						230						222						3.6
Table drop (2)			$	1,633,273					$	1,515,462					7.8						$	4,793,914					$	4,801,533					(0.2)
Table games win (1)			$	305,761					$	280,044					9.2						$	875,146					$	887,194					(1.4)
Table games win %			18.7		%				18.5		%										18.3		%				18.5		%
Table games win per unit per day			$	14,139					$	13,713					3.1						$	13,993					$	14,599					(4.2)
Average number of slot machines			809						621						30.3						763						607						25.7
Slot machine handle			$	855,707					$	815,319					5.0						$	2,718,205					$	2,347,521					15.8
Slot machine win (3)			$	25,588					$	24,434					4.7						$	75,148					$	76,604					(1.9)
Slot machine win per unit per day			$	347					$	428					(18.9)						$	362					$	461					(21.5)
Poker rake			$	2,722					$	3,205					(15.1)						$	8,778					$	11,831					(25.8)
Room statistics:
Occupancy			98.8		%				98.9		%										99.1		%				99.2		%
ADR (4)			$	207					$	233					(11.2)						$	219					$	251					(12.7)
REVPAR (5)			$	205					$	230					(10.9)						$	217					$	249					(12.9)

Note: Our casino operations in Macau were closed for a 1-day period in September 2025 due to Typhoon Ragasa.

10

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

SUPPLEMENTAL DATA SCHEDULE

(dollars in thousands, except for win per unit per day, ADR and REVPAR)

(unaudited) (continued)

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2025						2024						Percent Change						2025						2024						Percent Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino			$	161,576					$	145,186					11.3						$	471,071					$	410,023					14.9
Rooms			186,712						187,123						(0.2)						590,561						617,071						(4.3)
Food and beverage			192,544						191,776						0.4						566,847						593,804						(4.5)
Entertainment, retail and other			80,180						83,087						(3.5)						256,451						251,476						2.0
Total			$	621,012					$	607,172					2.3						$	1,884,930					$	1,872,374					0.7
Adjusted Property EBITDAR (6)			$	203,413					$	202,720					0.3						$	661,586					$	679,315					(2.6)
Casino statistics:
Average number of table games			233						235						(0.9)						234						234						—
Table drop (2)			$	652,293					$	580,800					12.3						$	1,854,052					$	1,721,435					7.7
Table games win (1)			$	150,073					$	135,230					11.0						$	427,109					$	409,336					4.3
Table games win %			23.0		%				23.3		%										23.0		%				23.8		%
Table games win per unit per day			$	6,994					$	6,256					11.8						$	6,691					$	6,380					4.9
Average number of slot machines			1,573						1,620						(2.9)						1,575						1,612						(2.3)
Slot machine handle			$	1,818,133					$	1,695,799					7.2						$	5,356,473					$	4,840,241					10.7
Slot machine win (3)			$	123,500					$	112,771					9.5						$	370,350					$	322,544					14.8
Slot machine win per unit per day			$	854					$	757					12.8						$	861					$	730					17.9
Poker rake			$	5,148					$	4,629					11.2						$	17,583					$	16,652					5.6
Room statistics:
Occupancy			85.7		%				89.0		%										87.4		%				89.3		%
ADR (4)			$	505					$	495					2.0						$	527					$	541					(2.6)
REVPAR (5)			$	433					$	441					(1.8)						$	461					$	483					(4.6)

11

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WYNN RESORTS, LIMITED AND SUBSIDIARIES

SUPPLEMENTAL DATA SCHEDULE

(dollars in thousands, except for win per unit per day, ADR, and REVPAR)

(unaudited) (continued)

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2025						2024						Percent Change						2025						2024						Percent Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino			$	156,213					$	158,744					(1.6)						$	477,246					$	478,504					(0.3)
Rooms			25,227						24,742						2.0						66,817						70,226						(4.9)
Food and beverage			18,810						19,791						(5.0)						57,447						63,184						(9.1)
Entertainment, retail and other			11,500						10,844						6.0						35,173						32,599						7.9
Total			$	211,750					$	214,121					(1.1)						$	636,683					$	644,513					(1.2)
Adjusted Property EBITDAR (6)			$	58,394					$	63,018					(7.3)						$	179,707					$	188,284					(4.6)
Casino statistics:
Average number of table games			172						179						(3.9)						172						182						(5.5)
Table drop (2)			$	323,981					$	347,082					(6.7)						$	1,002,226					$	1,072,750					(6.6)
Table games win (1)			$	66,257					$	74,048					(10.5)						$	208,155					$	227,496					(8.5)
Table games win %			20.5		%				21.3		%										20.8		%				21.2		%
Table games win per unit per day			$	4,187					$	4,507					(7.1)						$	4,433					$	4,553					(2.6)
Average number of slot machines			2,727						2,611						4.4						2,721						2,612						4.2
Slot machine handle			$	1,397,554					$	1,378,066					1.4						$	4,120,102					$	4,201,520					(1.9)
Slot machine win (3)			$	110,797					$	105,550					5.0						$	327,752					$	315,773					3.8
Slot machine win per unit per day			$	442					$	439					0.7						$	441					$	441					—
Poker rake			$	5,410					$	5,334					1.4						$	16,482					$	16,422					0.4
Room statistics:
Occupancy			95.5		%				96.9		%										92.2		%				94.4		%
ADR (4)			$	431					$	426					1.2						$	399					$	410					(2.7)
REVPAR (5)			$	412					$	412					—						$	368					$	387					(4.9)

(1)Table games win is shown before discounts, commissions and the allocation of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis.

(2)In Macau, table drop is the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage. In Las Vegas, table drop is the amount of cash and net markers issued that are deposited in a gaming table's drop box. At Encore Boston Harbor, table drop is the amount of cash and gross markers that are deposited in a gaming table's drop box.

(3)Slot machine win is calculated as gross slot machine win minus progressive accruals and free play.

(4)ADR is average daily rate and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms occupied.

(5)REVPAR is revenue per available room and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms available.

(6)Refer to accompanying reconciliations of Operating Income (Loss) to Adjusted Property EBITDAR and Net Income (Loss) Attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.

12

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SOURCE:

Wynn Resorts, Limited

CONTACT:

Lauren Seiler

702-770-7555

investorrelations@wynnresorts.com

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