Wynn Resorts continues to position itself at the high end of the Las Vegas luxury market, with CEO Craig Billings emphasizing the company’s commitment to delivering value rather than simply competing on price. In a recent conference call discussing third-quarter results, Billings addressed concerns over Las Vegas pricing and social media backlash regarding price gouging. He explained that Wynn’s target customer is less focused on cost and more on getting high perceived value for their spending, noting that expectations at the luxury level are exceptionally high.
Billings was unapologetic about Wynn’s premium pricing, stating that guests are paying for a premium experience and that the resort avoids practices that make guests feel “nickel and dimed.” He highlighted that Wynn does not impose unexpected charges and, for example, has kept minibar prices comparatively reasonable. The company only began charging for parking when it became necessary to prevent the property from being used as a neighborhood parking lot. Billings argued that eroding perceived value, not just high costs, leads to customer dissatisfaction—a problem Wynn has largely avoided.
Addressing the broader Las Vegas market, Billings noted that the city is full of low-cost options but has historically been known for offering high value through exceptional service and memorable experiences. He suggested that customer complaints about pricing are more about perceived value than the actual dollar amount spent.
Wynn Resorts also provided updates on its international operations, reporting strong cash flow growth in Macao and ongoing construction at Wynn Al Marjan Island in the United Arab Emirates, with the 70-story property expected to open in early 2027.
For the third quarter ending September 30, Wynn Resorts reported net income of $128.5 million (85 cents per share) on revenue of $1.834 billion, an 8.3 percent increase year-over-year. This compares to a net loss of $5.4 million (29 cents per share) on revenue of $1.693 billion for the same period a year earlier.