Wynn Resorts Reports Strong Q4 2025 Earnings

CEO highlights shifts in geopolitics, currency blocs, and technology-driven wealth creation as key trends shaping the company's strategy.

Published on Feb. 14, 2026

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Wynn Resorts (NASDAQ:WYNN) executives used the company's fourth-quarter 2025 earnings call to frame the business around what CEO Craig Billings described as multi-year shifts in geopolitics, currency blocs, and technology-driven wealth creation—trends he said are increasingly concentrating around global hubs in the U.S., China, and parts of the Middle East. Billings argued that Wynn's strategy of focusing on high-value customers and operating luxury assets across multiple geographies positions the company to benefit from those shifts, particularly as it approaches the opening of Wynn Al Marjan Island in the United Arab Emirates.

Why it matters

Wynn Resorts is a major player in the global luxury resort and casino industry, and the company's performance and strategic positioning provide insights into broader trends shaping the hospitality and gaming sectors. The company's focus on high-value customers and geographic diversification reflects an industry-wide shift towards catering to the preferences of the world's wealthiest travelers.

The details

In Las Vegas, Wynn reported adjusted property EBITDA of $240.8 million on operating revenue of $688.1 million, for a 35% margin. In Macau, Wynn reported adjusted property EBITDA of $270.9 million on operating revenue of $967.7 million, a 28% margin. The quarter featured significant volume growth but unusually low hold in both VIP and mass segments. Wynn also provided updates on the development of Wynn Al Marjan Island in the United Arab Emirates, which reached a major milestone with the tower topping out at the 70th floor.

  • Wynn began the Encore Tower remodel in Las Vegas in the second quarter of 2026, which is expected to last approximately 12 months and extend into 2027.
  • Wynn said the new Chairman's Club floor at Wynn Palace in Macau, a 63,000-square-foot addition dedicated to the company's highest-value customers, received government approval and will open in the near future.

The players

Craig Billings

CEO of Wynn Resorts.

Julie Cameron-Doe

CFO of Wynn Resorts, who announced she will retire before the next earnings call.

Brian Gullbrants

President of Wynn Las Vegas.

Wynn Resorts

A global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences.

Encore Boston Harbor

A Wynn Resorts property located in Boston, Massachusetts.

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What they’re saying

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— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.