Core Insights - Wynn Resorts reported mixed Q4 results, with steady revenues but weaker performance in Las Vegas and Boston markets [1] Financial Performance - Revenues remained stable, indicating resilience despite challenges in specific locations [1] - The performance in Las Vegas and Boston showed signs of softness, which may impact future growth prospects [1]

WYNN RESORTS AND CHEF'S TABLE ANNOUNCE GLOBAL PARTNERSHIP WITH CULINARY PROGRAMMING DEBUTING THIS FALL [Accessibility Statement] Skip Navigation--Wynn Resorts Logo (PRNewsfoto/Wynn Resorts)Chef's Table logoCompany kicks off a significant collaboration with the award- winning culinary brand, and features an array of food and beverage events featuring the industry's brightest starsLAS VEGAS, Feb. 17, 2026 /PRNewswire/ -- Wynn Resorts (Nasdaq: WYNN) and Chef's Table, the brand behind the award-winning Netflix ...

经营状况 经济观察网 根据永利度假村2026年2月12日发布的2025财年第四季度及全年财报，以下为关键财务亮 点： 业绩经营情况 全年营收微增：2025财年总营收71.38亿美元，同比增长0.14%；第四季度营收18.66亿美元，同比增长 1.48%。净利润承压但超预期：全年净利润3.27亿美元（同比下滑34.67%），第四季度净利润1.00亿美 元（同比下滑63.89%）。但调整后每股收益为2.42美元，显著高于市场预期的1.33美元，反映核心盈利 韧性。 澳门业务复苏：澳门永利皇宫酒店第四季度经营收入同比增长7.4%至5.63亿美元，抵消永利中国收入下 滑5.8%的影响。澳门博彩毛收入恢复度持续提升，支撑中长期增长预期。阿联酋项目进展：哈伊马角 综合度假村计划于2027年开业，2026年进入关键施工阶段，为长期增长注入潜力。 机构观点 机构观点分化：瑞银等机构指出澳门业务EBITDA短期承压，但看好高端中场需求回暖及新项目带来的 估值弹性。 以上内容基于公开资料整理，不构成投资建议。 毛利率稳定：全年毛利率32.73%，第四季度为31.96%，显示成本控制有效。营业利润率提升：全年营 业利润率达16.2 ...

Core Insights - Wynn Resorts, Limited (WYNN) reported mixed fourth-quarter 2025 results, with earnings missing estimates while revenues exceeded expectations [1][3][9] Financial Performance - Adjusted earnings per share (EPS) for the quarter was $1.17, below the Zacks Consensus Estimate of $1.33, and down from $2.42 in the prior-year quarter [3][9] - Quarterly operating revenues reached $1.87 billion, surpassing the consensus mark by 0.7% and reflecting a year-over-year increase of 1.5% [3][9] Operational Highlights - Wynn Resorts experienced steady performance in key markets, particularly in Las Vegas and Macau, with Las Vegas showing EBITDA growth due to higher average daily rates and solid casino volumes [2][9] - Macau operations benefited from increased VIP turnover and mass table drop, contributing to improved property performance [9] Segment Performance - Wynn Palace's operating revenues were $596.4 million, up 5.9% year over year, but adjusted property EBITDAR decreased by 11.4% to $163.5 million [4] - Wynn Macau's operating revenues were $371.3 million, a 2.1% increase year over year, with adjusted property EBITDAR slightly down by 0.7% [6] - Las Vegas operations reported revenues of $688.1 million, down 1.6% year over year, with adjusted property EBITDAR decreasing by 10% [8] - Encore Boston Harbor's operating revenues were $210.2 million, down 1.2% year over year, with adjusted property EBITDAR falling by 3.1% [10] Cash and Debt Position - As of December 31, 2025, Wynn Resorts had cash and cash equivalents totaling $1.46 billion, a slight decrease from $1.49 billion in the prior quarter [12] - Total outstanding debt at the end of the fourth quarter amounted to $10.55 billion, including significant Macau-related debt [12] Overall Assessment - The adjusted property EBITDAR for the quarter totaled $568.8 million, down from $619.1 million in the prior-year quarter, with EBITDAR margin contracting to 30.5% from 33.7% [11]

Management said demand remained healthy, with drop, handle, and average daily rate (ADR) all up year-over-year, while RevPAR was slightly below last year due to a deliberate approach of prioritizing rate over occupancy. Billings emphasized that driving rate over occupancy is an “incredibly intentional strategy,” allowing the company to adjust staffing and restaurant hours to optimize profitability.In Las Vegas, Wynn reported adjusted property EBITDA of $240.8 million on operating revenue of $688.1 million, ...

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - Wynn Resorts reported $1.87 billion in revenue for Q4 2025, a year-over-year increase of 1.5% and a surprise of +0.67% over the Zacks Consensus Estimate of $1.85 billion [1] - The EPS for the quarter was $1.17, down from $2.42 a year ago, with an EPS surprise of -12.17% compared to the consensus estimate of $1.33 [1] Financial Performance Metrics - Las Vegas Operations generated $667.57 million in table drop, slightly below the estimated $671.2 million [4] - Table Games Win in Las Vegas was $173.84 million, exceeding the average estimate of $161.94 million [4] - Slot Machine Win in Las Vegas was $129.52 million, slightly below the estimated $131.97 million [4] - VIP Table Games Win in Macau's Wynn Palace was $148.5 million, compared to the average estimate of $160.01 million [4] - Encore Boston Harbor's operating revenues were $210.19 million, slightly below the estimated $210.69 million, representing a -1.2% change year-over-year [4] - Las Vegas Operations' total operating revenues were $688.11 million, exceeding the estimate of $667.42 million, but showing a -1.6% change year-over-year [4] - Wynn Macau's operating revenues were $371.33 million, slightly above the average estimate of $370 million, reflecting a +2.1% year-over-year change [4] - Wynn Palace's operating revenues were $596.36 million, below the average estimate of $614.32 million, but showing a +5.9% year-over-year change [4] - Casino revenues in Las Vegas Operations were $178.28 million, slightly above the estimate of $177.77 million, with a year-over-year change of -6.2% [4] - Encore Boston Harbor's Casino revenues were $152.02 million, below the estimate of $156.78 million, reflecting a -3.1% year-over-year change [4] - Las Vegas Operations' room revenues were $222.92 million, slightly above the estimate of $221.8 million, with a -2.5% year-over-year change [4] - Food and beverage revenues in Las Vegas Operations were $191.71 million, exceeding the average estimate of $182.13 million, with a year-over-year change of +3.8% [4] Stock Performance - Wynn's shares have returned -1.2% over the past month, compared to the Zacks S&P 500 composite's -0.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Core Insights - The company is positioning itself to take advantage of a 'multipolar world' by focusing on global hubs in the U.S., China, and the Middle East where wealth creation is accelerating [1] - The strategy emphasizes geographic diversification, aiming to generate over 55% of revenues from non-U.S. dollar denominated markets following the UAE expansion [1] - Las Vegas performance optimization is achieved by prioritizing Average Daily Rate (ADR) over occupancy, leading to more efficient staffing and higher EBITDA margins [1] - Macau's quarterly results were affected by unusually low hold in both VIP and mass segments, despite significant year-over-year volume growth in VIP turnover and mass drop [1] - The company is leveraging technology and AI to enhance 'customer delight' through personalized retention strategies and improved machine learning for reinvestment modeling [1] - Operational discipline in Boston has successfully mitigated union-related payroll pressures through cost efficiencies in non-guest-facing areas [1]

Core Viewpoint - Wynn Macau's parent company, Wynn Resorts, Limited, reported mixed financial results for the fourth quarter and full year ending December 31, 2025, with some segments showing growth while others experienced declines [1][2][3]. Financial Performance - For Q4 2025, Wynn Palace and Wynn Macau's operating income increased by $33.4 million and $7.7 million, respectively, compared to Q4 2024, while Las Vegas operations and Encore Boston Harbor saw decreases of $11.4 million and $2.5 million [1]. - Adjusted property EBITDAR for Q4 2025 decreased for Las Vegas operations, Wynn Palace, Encore Boston Harbor, and Wynn Macau by $26.6 million, $21.1 million, $1.8 million, and $0.7 million, respectively, compared to Q4 2024 [1]. - For the full year 2025, operating income for Wynn Palace and Las Vegas operations increased by $89.7 million and $1.1 million, while Wynn Macau and Encore Boston Harbor decreased by $54 million and $10.3 million, respectively [1]. EBITDAR and Gaming Performance - In Q4 2025, Wynn Palace's operating income was $596.4 million, up from $562.9 million in Q4 2024, but adjusted property EBITDAR fell to $163.5 million from $184.6 million [2]. - The win percentage for table games in the mass market at Wynn Palace was 21.8%, down from 26.0% in Q4 2024, while the VIP table win percentage was 2.84%, below the expected range of 3.1% to 3.4% and down from 3.51% in Q4 2024 [2]. - Wynn Macau's operating income for Q4 2025 was $371.3 million, an increase from $363.7 million in Q4 2024, but adjusted property EBITDAR decreased to $107.4 million from $108.2 million [3]. - The win percentage for mass market table games at Wynn Macau was 17.0%, down from 17.9% in Q4 2024, while the VIP table win percentage was 3.49%, above the expected range but lower than 5.01% in Q4 2024 [3]. Cash and Debt Position - As of December 31, 2025, the group had cash and cash equivalents totaling $1.46 billion, excluding short-term investments held by Wynn Macau Limited of $601.8 million [3]. - The available borrowing limits for WRF revolving credit and WM Cayman II revolving credit were $1.23 billion and $1.36 billion, respectively [4]. - The total outstanding current and long-term debt amounted to $10.55 billion, including Macau-related debt of $5.79 billion, WRF debt of $3.28 billion, and Wynn Las Vegas debt of $876.6 million [4].