WYNN · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
WYNN RESORTS LTD · 2026-08-06 · Importance 66 · Surprise 40 · From source text
Operating cash flow increased to $645.4 million for the first six months of 2026 from $538.8 million in the prior-year period, while cash, cash equivalents, and restricted cash increased $107.3 million. As of June 30, 2026, the company held $1.573 billion of cash and cash equivalents, $527.4 million of investments, and $2.380 billion of available revolver borrowing capacity. Wynn Macau, Limited and subsidiaries held $944.8 million of cash, $527.4 million of investments, and $1.346 billion of revolver capacity, while Wynn Resorts Finance held $393.4 million of cash and $1.034 billion of capacity. The company borrowed $200.0 million under the WRF Revolver during the period, and the weighted-average interest rate increased to 6.18% from 6.08%.
Key facts
- Fees payable by Wynn Macau SA to Wynn Resorts, Limited under its intellectual property license agreement are capped at $150.0 million for the year ending December 31, 2026. source
- During the six months ended June 30, 2026, we borrowed $200.0 million under the WRF Revolver. source
- Proceeds from issuance of long-term debt during the six months ended June 30, 2026: $200,000 (dollars in thousands). source
- Cash flows from operating activities for the six months ended June 30, 2026: $645,380 (dollars in thousands); for the six months ended June 30, 2025: $538,836. source
- As of June 30, 2026, total cash and cash equivalents: $1,573,353 (dollars in thousands); investments: $527,370; revolver borrowing capacity: $2,380,197 (dollars in thousands). source
- Wynn Resorts, Limited expects to use cash held by Wynn Resorts, Limited to service our Retail Term Loan. source
- We purchased $57.1 million of U.S. treasuries and received proceeds of $140.5 million upon the maturity of investments during the six months ended June 30, 2026. source
- During the six months ended June 30, 2025, we received net proceeds of $752.8 million from issuance of the WRF Term Loan due 2030 and repaid $763.1 million of principal under the WRF Term Loan due 2027. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | committed | +6.9% | Fees payable by Wynn Macau SA to Wynn Resorts, Limited under its intellectual property license agreement are capped at $150.0 million for… |
| liability | negative | realized | -1.5% | During the six months ended June 30, 2026, we borrowed $200.0 million under the WRF Revolver. |
| cash | positive | realized | +1.5% | During the six months ended June 30, 2026, we borrowed $200.0 million under the WRF Revolver. |
| cash | positive | committed | +1.0% | Fees payable by Wynn Macau SA to Wynn Resorts, Limited under its intellectual property license agreement are capped at $150.0 million for… |
| cash | positive | realized | +0.8% | Cash flows from operating activities for the six months ended June 30, 2026: $645,380 (dollars in thousands); for the six months ended… |