Wynn Resorts executives are confident in a Macau turnaround despite ongoing challenges.
The operator reported an 8% year-on-year decrease in revenue to $335.4m from its Macau property in the third quarter of 2026, mirroring the wider market downturn during the period.
Chief Executive Officer Craig Billings told investors: “There’s a lot of moving parts in China and Macau at the moment. And much like you can’t pin singular narratives on the U.S. economy, it’s hard to pin singular narratives on China and on Macau.
“The economy is complex. It’s in the midst of change with regional and industrial variation, just like the U.S. There were well-understood effects from the World Cup and seasonality in the quarter that we just reported. There are tax policies. But really, I wouldn’t try to reduce a very complex economy to a single narrative.”
Despite falling within China’s National Day Golden Week holiday and seeing higher footfall, Macau reported a 10% annual dip in October Gross Gaming Revenue (GGR) to MOP21.68bn (£2.00bn), compared with MOP24.09bn (£2.23bn) in October 2025.
Issues in Macau were mirrored more widely across Wynn’s portfolio, in what Billings described as a ‘complicated quarter with more headwinds than tailwinds’.
Wynn reported operating revenue of $1.69bn, down from $1.83bn reported in the same period last year. Adjusted property EBITDAR was similarly down from $570.1m in Q3 2025 to $464.2m – attributed to an unfavourable hold in Las Vegas and labour disruptions at its Boston property.
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