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Wynn Resorts, Limited designs, develops, and operates integrated resorts. It operates in four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates casino space, private gaming salons, and sky casinos; a luxury hotel tower with suites and villas, as well as a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and a performance lake, an immersive entertainment center, Western and Asian art displays, and a gondola ride. Its Wynn Macau segment operates casino space, private gaming salons, sky casinos, and a poker room; luxury hotel towers with health clubs, spas, a salon, and a pool; food and beverage outlets; retail space; meeting and convention space; a performance lake; and a rotunda show featuring Chinese zodiac-inspired ceilings. The Las Vegas Operations segment operates casino space, private gaming salons, a sky casino, a poker room, and a race and sports book; a luxury hotel tower with suites, villas, swimming pools, private cabanas, full-service spas and salons, and a wedding chapel; food and beverage outlets; meeting and convention space; retail space; a golf course; nightclubs; a beach club; and theaters. Its Encore Boston Harbor segment operates casino space, private and high-limit gaming areas, and a sports book; a luxury hotel tower with suites, a spa, and a salon; food and beverage outlets; a nightclub; retail space; meeting and convention space; a waterfront park; floral displays; and water shuttle services. Wynn Resorts, Limited was incorporated in 2002 and is based in Las Vegas, Nevada.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.1B | $1.8B | $327M | $692M | -118.8% | 0.1% | -34.7% |
| 2024 | $7.1B | $2.0B | $501M | $1.0B | -223.5% | 9.1% | -31.4% |
| 2023 | $6.5B | $1.7B | $730M | $794M | -290.4% | 73.9% | -272.2% |
| 2022 | $3.8B | $643M | $-424M | $-384M | 56.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,756.82 | 6,531.90 | 7,127.96 | 7,137.92 |
| Operating Revenue | - | 3,756.82 | 6,531.90 | 7,127.96 | 7,137.92 |
| Cost Of Revenue | - | 2,390.22 | 3,708.56 | 4,026.42 | 4,180.92 |
| Gross Profit | - | 1,366.60 | 2,823.33 | 3,101.54 | 2,957.01 |
| Operating Expense | - | 1,515.47 | 1,748.33 | 1,744.36 | 1,750.41 |
| Selling General And Administration | - | 830.45 | 1,065.02 | 1,080.47 | 1,116.95 |
| Total Expenses | - | 3,905.70 | 5,456.89 | 5,770.78 | 5,931.33 |
| Operating Income | - | -148.87 | 1,075.01 | 1,357.18 | 1,206.60 |
| Total Operating Income As Reported | - | -100.68 | 840.17 | 1,132.73 | 1,118.38 |
| EBITDA | - | 643.17 | 1,724.16 | 1,990.70 | 1,760.33 |
| Normalized EBITDA | - | 579.02 | 1,913.90 | 2,172.68 | 1,883.41 |
| EBIT | - | -49.15 | 1,036.89 | 1,331.81 | 1,139.70 |
| Interest Income | - | 29.76 | 175.78 | 130.34 | 66.51 |
| Interest Expense | - | 650.88 | 751.51 | 688.41 | 625.56 |
| Net Interest Income | - | -621.13 | -588.41 | -560.98 | -560.75 |
| Other Non Operating Income Expenses | - | 5.81 | -11.48 | 29.17 | -8.62 |
| Other Income Expense | - | 69.96 | -201.22 | -152.80 | -131.71 |
| Interest Income Non Operating | - | 29.76 | 175.78 | 130.34 | 66.51 |
| Interest Expense Non Operating | - | 650.88 | 751.51 | 688.41 | 625.56 |
| Net Non Operating Interest Income Expense | - | -621.13 | -588.41 | -560.98 | -560.75 |
| Pretax Income | - | -700.04 | 285.38 | 643.40 | 514.14 |
| Tax Provision | - | 9.33 | -496.83 | 3.68 | 105 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 13.47 | -39.84 | -1.04 | -25.11 |
| Net Income Continuous Operations | - | -709.37 | 782.22 | 639.72 | 409.14 |
| Net Income From Continuing And Discontinued Operation | - | -423.86 | 729.99 | 501.08 | 327.33 |
| Net Income From Continuing Operation Net Minority Interest | - | -423.86 | 729.99 | 501.08 | 327.33 |
| Net Income | - | -423.86 | 729.99 | 501.08 | 327.33 |
| Net Income Common Stockholders | - | -423.86 | 729.99 | 501.08 | 327.33 |
| Net Income Including Noncontrolling Interests | - | -709.37 | 782.22 | 639.72 | 409.14 |
| Normalized Income | - | -474.53 | 879.89 | 682.01 | 425.31 |
| Diluted NI Availto Com Stockholders | - | -423.86 | 713.50 | 480.07 | 327.33 |
| Basic Average Shares | - | 113.62 | 112.52 | 109.97 | 103.70 |
| Diluted Average Shares | - | 113.62 | 112.86 | 110.27 | 104.24 |
| Reconciled Depreciation | - | 692.32 | 687.27 | 658.90 | 620.63 |
| Reconciled Cost Of Revenue | - | 2,390.22 | 3,708.56 | 4,026.42 | 4,180.92 |
| Total Unusual Items | - | 64.15 | -189.74 | -181.97 | -123.08 |
| Total Unusual Items Excluding Goodwill | - | 64.15 | -189.74 | -181.97 | -123.08 |
| Minority Interests | - | 285.51 | -52.22 | -138.64 | -81.80 |
| Special Income Charges | - | -133.79 | -234.84 | -224.45 | -88.21 |
| Gain On Sale Of Business | - | - | -94.60 | - | - |
| Other Special Charges | - | 85.76 | 140.34 | 224.45 | 61.31 |
| Impairment Of Capital Assets | - | 48.04 | 94.49 | 0 | 0 |
| Gain On Sale Of Security | - | 197.94 | 45.10 | 42.48 | -34.87 |
| Depreciation Amortization Depletion Income Statement | - | 692.32 | 687.27 | 658.90 | 620.63 |
| Depreciation And Amortization In Income Statement | - | 692.32 | 687.27 | 658.90 | 620.63 |
| General And Administrative Expense | - | 830.45 | 1,065.02 | 1,080.47 | 1,116.95 |
| Other Gand A | - | 830.45 | 1,065.02 | 1,080.47 | 1,116.95 |
| Gain On Sale Of Ppe | - | - | -20.70 | 3.90 | -26.90 |
| Total Other Finance Cost | 2.06 | - | 12.68 | 2.91 | 1.70 |
| Other Operating Expenses | 6.82 | 20.64 | - | - | - |
| Provision For Doubtful Accounts | - | -7.30 | -3.96 | 4.99 | 12.82 |
| Average Dilution Earnings | - | 0 | -16.50 | -21 | 0 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Wynn Resorts, Limitedthis co. | WYNN | $10.8B | 32.85↑ premium | -39.03 | -118.8% | 12.19 |
| Best Buy Co., Inc. | BBY | $15.0B | 13.99 | 5.05 | 36.1% | 7.60 |
| lululemon athletica inc. | LULU | $14.9B | 9.46 | 3.01 | 31.8% | 5.51 |
| Ball Corporation | BALL | $14.0B | 15.39 | 2.59 | 16.8% | 9.61 |
| Genuine Parts Company | GPC | $13.7B |
| - |
| - |
| - |
| - |
| - |
| - |
| 208.08 |
| 3.10 |
| 1.5% |
| 26.24 |
| MGM Resorts International | MGM | $12.3B | 59.58 | 5.05 | 8.5% | 24.21 |
| Hasbro, Inc. | HAS | $12.0B | -37.07 | 22.19 | -59.9% | 62.19 |
| Avery Dennison Corporation | AVY | $11.7B | 17.04 | 5.23 | 30.7% | 10.98 |
| Domino's Pizza, Inc. | DPZ | $10.2B | 17.00 | -2.62 | -15.4% | 14.36 |
| Peer Median | - | 16.19 | 4.07 | 12.6% | 12.67 | |