Wynn Las Vegas achieved a new second quarter EBITDAR record of nearly $235 million, up 2% YoY, with adjusted EBITDAR at $246 million, indicating strong demand.
Demand was healthy with notable increases in both drop and handle, driving a 14.5% rise in casino revenues, reflecting Wynn's ability to grow market share.
Management attributes success to premium positioning and building quality, with a focus on high-end customers, which they consider the most resilient segment.
Operational adjustments in July prioritized midweek rates over occupancy, aligning with luxury branding and demand patterns.
Booking pace accelerated in July, with strong group and convention business expected to lead into Q4 and 2026, which is projected to be a record year for group room nights and revenues.
Casino Resorts segment revenue declined 3% and EBITDA declined 5%, primarily due to low table game hold in Laughlin and a summer slowdown on the Las Vegas Strip.
Golden Entertainment reported Q2 2025 revenue of $163.6 million and EBITDA of $38.4 million.
Las Vegas Locals Casinos grew EBITDA by over 9%, with margins improving by 170 basis points to over 46%.
Nevada locals casinos posted their highest quarterly EBITDA in 2 years, with a 3% revenue increase and 7% EBITDA growth year-over-year.
STRAT occupancy fell to 69% for the quarter, down 4% year-over-year, with June occupancy dropping to 60%.
Tavern business revenue declined 7% year-over-year, impacted by promotional reinvestment and lower volume, especially during late night shifts.
Dafinchi
