Wynn Resorts Q1 2025 revenue falls 8.7% year-over-year to $1.7bn

The operator also reported a net income of just over $72.7m for the first quarter of 2025, equating to a decrease of nearly 49.6% from the prior year period.

Wynn Resorts has released its financial results for the first quarter of 2025, having witnessed a decrease in operating revenue of 8.7% year-over-year for a total of $1.7bn, primarily generated by the operator’s casino segment which accounted for just over $1bn. 

Throughout Q1 2025, net income attributable to Wynn Resorts fell 49.6% from the prior year period to $72.7m, while the operator’s adjusted property EBITDA for the first quarter of 2025 was reported $532.9m, representing a decrease of 17.6% year-over-year. 

While casino operations generated the highest revenue of any segment for Q1 2025, the $1bn figure still equates to a decrease of 7.2% year-over-year, along with hotel room operations which reported a Q1 2025 revenue of $274.5m and fell 16.2% from the prior year period. Food & beverage and entertainment, retail and other operations reported decreases in revenue of 6.4% and 7.8% year-over-year, respectively, for Q1 2025 totals of $249.9m and $135.6m. 

Wynn Resorts generated an operating income of $268.6m for the first quarter of 2025, falling by nearly $100m from the total produced throughout Q1 2024. 

Las Vegas operations generated the highest revenue figure for the operator during Q1 2025, reporting $625.3m but decreasing by 1.8% year-over-year. The segment’s adjusted property EDITDAR for Q1 2025 fell 9.3% from the prior year period, reported to be nearly $223.4m. 

“Our first quarter results reflect continued strength throughout our business. In Las Vegas, where we recently celebrated the resort’s 20th anniversary, the team delivered healthy results against a record prior year comparison which reflected the Las Vegas Super Bowl,” Wynn Resorts CEO Craig Billings said. 

“In Macau, while VIP hold negatively impacted results, we held market share in our expected range, and announced an increased dividend from Wynn Macau, Limited, reflecting the strong free cash flow generated by the business. At the same time we continued to return capital to shareholders through our regular quarterly dividend and the repurchase of $200m of stock in the quarter.”

Good to know: Caesars Entertainment released its financial results from the first quarter of 2025 on April 29, including a rise in net revenue of 2.1% from the prior year period to $2.8bn, as well as a net loss of $115m which actually equates to a 29% decrease from the $158m loss reported during Q1 2024

Operations for Wynn Palace throughout Q1 2025 resulted in revenues of $535.9m, representing a decrease of 8.7% from the prior year period as the segment’s adjusted property EBITDAR was reported to be $161.9m, falling by 20% year-over-year. 

Wynn Macau generated an operating revenue of almost $330m for the first quarter of 2025, but fell by 19.9% from the prior year period. The segment reported an adjusted property EBITDAR of $90.2m for Q1 2025, equating to a decrease of 34.3% year-over-year. 

Finally, at the operator’s Encore Boston Harbor property, revenue for Q1 2025 was reported to be just over $209.2m, while adjusted property EBITDAR came in at $57.5m, representing decreases of 3.9% and 9%, respectively, from the prior year period. 

At the time of writing, Wynn Resorts’ share price at market close was reportedly $83.52 per share, which equates to an increase of 0.65% from where the share price began on May 6. 

Kirk Geller

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.