Wynn Resorts reported fourth-quarter adjusted earnings that fell short of analyst expectations, citing a softer showing in Las Vegas and pressure at some regional properties. Shares of the company fell more than 3% in extended trading following the results.
On the top line, Wynn said total operating revenue for the quarter ended December 31 decreased about 1.48% to $1.87 billion. That figure compared with analysts' average estimate of $1.85 billion.
The company's Las Vegas business showed clear signs of weakness. Visitations to Las Vegas declined by more than 9% in 2025 year-over-year, driven by slower leisure and international segments, according to data from the Las Vegas Convention and Visitors Authority cited by the company. Operating revenues from Wynn's Las Vegas operations fell $11.4 million to $688.1 million for the fourth quarter.
Table games performance at the company's Las Vegas properties also softened. Wynn reported a table games win percentage of 26.0% for the fourth quarter of 2025, down from 30.9% in the prior-year period.
Regional operations were not immune to the downward pressure. At Encore Boston Harbor, Wynn recorded a $2.5 million decline in operating revenues for the quarter.
On profitability, Wynn posted an adjusted profit of $1.17 per share for the quarter, a decrease from $2.42 per share a year earlier. The LSEG consensus of analysts had been $1.47 per share, leaving the company short of expectations.
The combination of lower visitation, reduced table games win percentages and revenue declines at specific properties contributed to the shortfall versus consensus. Market reaction was swift, with the company’s shares trading down more than 3% in after-hours activity.
Wynn’s results highlight a quarter in which both customer volumes and gaming outcomes in Las Vegas were weaker year-over-year, and where at least one major regional property posted lower revenue versus the prior period. The company’s overall operating revenue declined modestly versus the same quarter a year earlier and fell slightly above the analysts' aggregate revenue estimate.