Wynn Macau operating revenue drops 8.2% to US$919.2m in Q3

Lower VIP turnover weighed on third-quarter results, while Wynn Resorts continued investing in new Macau capacity and amenities.

Key takeaways:

• Wynn Macau’s operating revenue fell 8.2 per cent year-on-year to US$919.2m in Q3.
• Combined VIP turnover at its two Macau properties declined 23.7 per cent to US$3.27bn.
• Total Adjusted Property EBITDAR for Macau operations fell 13 per cent to US$255.3m.
• Wynn Palace and Wynn Macau both reported year-on-year declines in operating revenue.

Macau.- Wynn Macau has reported operating revenue of US$919.2m for the third quarter ended September 30, 2026. The result represents an 8.2 per cent year-on-year decrease compared to the US$1.01bn recorded in Q3 2025.

The decline was reflected across both of the group’s Macau integrated resorts amid softer market conditions. VIP turnover across the two properties fell 23.7 per cent to US$3.27bn. Total adjusted property EBITDAR for Macau operations dropped 13 per cent year-on-year to US$255.3m.

At Cotai, operating revenues at Wynn Palace fell 8.1 per cent year-on-year to US$583.8m, compared to US$635.5m in the third quarter of 2025, while adjusted Property EBITDAR stood at US$165.8m against US$200.3m in the prior-year period. 

Although the property’s VIP table games win percentage rose slightly to 3.82 per cent, above the expected range of 3.1 to 3.4 per cent, it fell short of the 4.68 per cent hold recorded in Q3 2025. Meanwhile, the mass market table games win percentage was strong at 25.8 per cent.

On the Macau peninsula, Wynn Macau posted an 8.2 per cent year-on-year drop in operating revenues to US$335.4m. Adjusted Property EBITDAR declined to US$89.5m from US$108.m in the same quarter last year. The property recorded a mass-market table games win percentage of 17.1 per cent, while the VIP win percentage stood at 4.88 per cent.

Daily operating expenses for the combined Macau operations rose 5 per cent year-on-year to US$2.89m during the quarter. Wynn Resorts continues its long-term reinvestment plan in the region. Construction and piling work are ongoing for expansion projects, including the development of new hotel capacity and amenities aimed at bolstering premium mass visitation.