Wynn Resorts Ltd

WYNN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Wynn Earnings: Amid Economic Peril, Vegas Demand Holds, While Macao Lags; Shares Attractive

Dan Wasiolek

May 7, 2025

Wynn's first-quarter sales fell 9%, driven by a 13% decrease in Macao, hindered by subdued industry growth. Las Vegas sales fell 2% against tough comparison from hosting last year's Super Bowl. Lower sales and higher labor costs pressured total EBITDA margins to 31.3% from 34.8%.

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Wynn Resorts Ltd

Wynn Earnings: Amid Economic Peril, Vegas Demand Holds, While Macao Lags; Shares Attractive

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