Wynn Resorts, Limited (WYNN) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Wynn Resorts second quarter 2026 earnings call. All participants are on listen only until the question and answer session of today's conference. To ask a question, press star one on your touchtone phone, record your name, and I will introduce you. Please limit yourself to one question and one follow-up question. This call is being recorded. If you have any objections, you may disconnect at this time. I will now turn the line over to Craig Fullalove, Chief Financial Officer. Please go ahead. Thank you, operator, and good afternoon, everyone. On the call with me today are Craig Billings and Brian Gullbrants in Las Vegas. Also on the line are Jenny Holaday, Linda Chen, and Frederick DiBasuto. Please note that we published a presentation to provide more color on the company and recent performance ahead of the call. You can find the presentation on our investor relations website. I want to remind you that we may make forward-looking statements under safe harbor federal securities laws, and those statements may or may not come true. I will now turn the call over to Craig Billings. Thanks, Craig. Good afternoon, everyone, and as always, thank you for joining us. I'm going to jump right into the quarter, starting here in Las Vegas. When Las Vegas delivered $215 million of EBITDA in the quarter with particular strength in May, adjusting for low hold, the property would have produced $219 million of EBITDA. We saw impressive increases in both drop and handle driving a 5% increase in total casino revenues. We were also pleased to grow RevPar by 3% and saw retail lease revenue up 8% during the quarter. More recently, the business has seen solid volumes and increases in both slot revenues and RevPar, though we experienced unusually low hold in the month of July. Lo...