Wynn Resorts has begun exploring potential uses for 38 acres it owns on the west side of Las Vegas Boulevard, directly across from Wynn Las Vegas and Encore. CEO Craig Billings said during Thursday's quarterly earnings call that the company has started to "doodle" with ideas for the property, which is occasionally used for festivals and special events.
Billings said any development would likely leverage the land's relationship to the existing resorts, potentially allowing construction at a lower all-in cost than a freestanding integrated resort. However, he emphasized the company's top priority remains opening Wynn Al Marjan Island in the United Arab Emirates, now less than a year from completion.
The UAE resort is on track for a September 2027 grand opening, with hotel room sales expected to begin soon. The 70-story property will feature 1,530 accommodations, a 225,000-square-foot casino, a second "sky gaming casino" on the 22nd floor, 129,166 square feet of retail, convention space, and 22 restaurants, lounges and bars.
Wynn reported net income of $17.3 million, or 17 cents per share, on revenue of $1.689 billion for the quarter ending Sept. 30, down from $88.3 million and $1.834 billion a year earlier. Billings said the company faced headwinds during the period but expressed satisfaction with Las Vegas operations, noting strong pricing power and group business pacing ahead for 2027.
Billings also said a 63-day strike at Encore Boston Harbor appears to have ended, with UNITE HERE union members voting Thursday on a new collective bargaining agreement. Wynn Resorts shares fell $3.06, or 3.7%, to $79.32 on the Nasdaq following the earnings report.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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