A Barclays analyst raised the price target for Wynn Resorts from $101 to $127 and kept a positive rating on the stock.
The update comes after strong second-quarter results in regional, online, and Macau operations, although Las Vegas' performance was a little weaker.
Key takeaways
- Barclays raised Wynn Resorts’ target price to $127, citing solid a Q2 performance in Macau and regional markets.
- Wynn generated $865.9 million in Macau revenue and completed $300 million in Q1 and Q2 share repurchases.
- Capex delays and fewer international visitors are still concerns, although earnings are strong overall.
Now, the average one-year price target among 16 analysts for Wynn shares is $115.47, with a high estimate of $130 and a low of $100. This forecast suggests a potential 5.5% upside from the current $109.44 share price.
Wynn also reported strong results in its 2025 first-quarter earnings. Its Macau operations generated $865.9 million in revenue and $252.1 million in adjusted property EBITDAR, while Las Vegas produced $625.3 million in income and a 35.7% EBITDAR margin. Encore Boston Harbor reported $209.2 million in profit and $57.5 million in EBITDAR.
The group also noted in its highlights that Macau VIP turnover increased 31%, and mass-market volumes also saw a slight rise. Encore Boston and the Vegas resort had 4% increases in total casino revenues, despite no Super Bowl boost in 2025.
However, the company delayed $375 million in capital projects due to tariffs, including the Encore Tower remodel. Operating expenses increased by 4.1% in Las Vegas, driven by wage inflation and bad debt recovery. International visits also declined, raising concerns about future demand. Competitive pressures in Macau also remain a challenge.
As of March 31, Wynn reported $3.2 billion in global liquidity, including cash and revolver availability.
Wynn drops Hudson Yards casino bid despite prior approval
Following strong Q1 results and an analyst price target, Wynn Resorts confirmed its withdrawal from the New York gaming license process, citing more shareholder-accretive capital uses.
The announcement came despite the City Planning Commission approving its Hudson Yards proposal in April.
Wynn said the rezoning process revealed long-term challenges, including local opposition and regulatory uncertainty. Wynn thanked supporters but said it would emphasize more existing and upcoming projects, including share buybacks and its Al Marjan Island development.
Wynn celebrates 20 years with employee stock awards
In addition to Wynn’s price target raise, the casino operator also celebrated its 20th anniversary on the Vegas Strip by giving employees stock.
The company awarded day-one employees $10,000 in stock. Staff with 15 to 19 years of service received $7,000, while Wynn granted those with shorter tenures amounts ranging from $1,000 to $5,000.
