Short answer
Wynn Resorts (WYNN) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.8B (up 8.3% year over year) with net income of $88M.
Q3 2025 key financials · XBRL
- Revenue
- $1.8B
- +8.3% YoY · +5.5% QoQ
- Net income
- $88M
- +375.6% YoY · +33.4% QoQ
- Operating margin
- 16.9%
- EPS (diluted)
- $0.85
- +403.6% YoY · +32.8% QoQ
Source: XBRL data from the Wynn Resorts (WYNN) Q3 2025 10-Q on SEC EDGAR. USD.
Wynn Resorts Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.83B Q3 2025, up 8.3% YoY ($1.69B Q3 2024), driven by Macau Operations +$129.2M
- Net income $88.3M Q3 2025 vs loss ($32.1M) Q3 2024; operating margin increased as casino revenue rose to 64.1% of total vs 60.2% YoY
- Best segment Wynn Palace: casino revenue +29.8% ($542M vs $418M), Adjusted Property EBITDAR +23.4% ($200.3M vs $162.3M); worst segment Encore Boston Harbor revenue down 1.1% and EBITDAR down 7.3%
- Cash decreased by $938.9M YTD due to $489.2M capex increase and $379.7M stock repurchase; operating cash flow declined to $874.6M from $947.2M YoY
- Management expects $200M-$250M Macau and $200M-$225M Las Vegas project capex for 2025; dividend $0.25/share declared; refinancing extended credit facilities and issued new $1B senior notes in 2025
Risk Factors
- No material changes to risk factors from 2024 10-K during first nine months of 2025
- Continued significant exposure to regulatory risks impacting casino operations in Macau and Nevada
- Sustained operational risk from competition in luxury resort and gaming markets affecting near-term revenue
- Ongoing financial risk from debt maturity profile with $2 billion senior notes due 2027 or later
- Persistent currency exposure to Chinese yuan fluctuations impacting revenue from Macau operations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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