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Wynn Q3 results miss estimates on weaker demand, lower table games hold

By Reuters News


Overview

  • Casino and resort operator's Q3 revenue fell and missed analyst expectations

  • Adjusted EPS for Q3 missed analyst expectations

  • Company cites slower market conditions and a strike at Boston property as headwinds


Outlook

  • Wynn Al Marjan Island expected to open in September 2027

  • Company sees healthy demand but notes slower market conditions in Las Vegas and Macau

  • Company did not provide specific financial guidance for upcoming quarters or full year


Result Drivers

  • SLOWER MARKET CONDITIONS - Co said slower market conditions affected demand at Las Vegas and Macau properties

  • LOWER TABLE GAMES HOLD - Co said Las Vegas results were negatively impacted by a table games hold rate below expected range

  • BOSTON STRIKE - Co said Encore Boston Harbor managed through a strike that began in early September


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$1.69 bln

$1.75 bln (17 Analysts)

Q3 Adjusted EPS

Miss

$0.33

$0.68 (16 Analysts)

Q3 EPS

$0.17

Q3 Adjusted Net Income

Miss

$33.90 mln

$87.93 mln (10 Analysts)

Q3 Net Income Attributable to Wynn Resorts

$17.30 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 23 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the casinos & gaming peer group is "buy"

  • Wall Street's median 12-month price target for Wynn Resorts, Limited is $125.00, about 51.7% above its November 4 closing price of $82.38

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago


Reuters Recommended Reads

  • Nov 4 - Melco Resorts Q3 revenue slips on weaker gaming

  • Nov 4 - Macau's Studio City Q3 revenue falls on weaker mass market

  • Nov 3 - Red Rock Resorts Q3 revenue beats estimates on Las Vegas growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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