Stockholders' Deficit |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Stockholders' Deficit | Stockholders' Deficit Equity Repurchase Program In November 2024, the Company’s Board of Directors authorized an increase in the amount of the Company's outstanding shares of common stock available for repurchase under the previously available repurchase authorization to $1.00 billion. The equity repurchase program authorizes discretionary repurchases by the Company from time to time through open market purchases, including pursuant to plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, privately negotiated transactions, accelerated share repurchases, or block trades, subject to market conditions, applicable legal requirements and other factors. The repurchase authorization has no expiration date, and the equity repurchase program may be suspended, discontinued or accelerated at any time. During the three and six months ended June 30, 2026, the Company repurchased 741,098 and 1,269,765 shares of its common stock at average prices of $101.20 and $101.42 per share, respectively, for an aggregate cost of $75.0 million and $128.8 million, respectively, under the equity repurchase program. During the three and six months ended June 30, 2025, the Company repurchased 2,004,418 and 4,364,612 shares of its common stock at average prices of $78.88 and $82.06 per share for an aggregate cost of $158.1 million and $358.1 million, respectively, under the equity repurchase program. As of June 30, 2026, the Company had $326.1 million in repurchase authority remaining under the program. Dividends The Company paid a cash dividend of $0.25 per share on its common stock during each of the three month periods ended March 31, 2026 and June 30, 2026 and recorded $26.1 million and $25.8 million against accumulated deficit, respectively. The Company paid a cash dividend of $0.25 per share on its common stock during each of the three month periods ended March 31, 2025 and June 30, 2025 and recorded $26.6 million and $26.1 million against accumulated deficit, respectively. On August 4, 2026, the Company's Board of Directors declared a cash dividend of $0.25 per share on its common stock, payable on August 28, 2026 to stockholders of record as of August 14, 2026. Noncontrolling Interests Wynn Macau, Limited On June 16, 2026, WML paid a cash dividend of HK$0.223 per share on its common stock for a total U.S. dollar equivalent of approximately $149.8 million. The Company's share of this dividend was $106.7 million, and the noncontrolling interest holders' share of this dividend was $43.1 million. WML Securities Lending Agreement In connection with the offering of the WML Convertible Bonds, WM Cayman Holdings I Limited ("WM Cayman I"), a wholly owned subsidiary of the Company and holder of our approximate 72% ownership interest in WML, entered into a stock borrowing and lending agreement with Goldman Sachs International (the "WML Stock Borrower") in March 2023 (the "Securities Lending Agreement"), pursuant to which WM Cayman I has agreed to lend to the WML Stock Borrower up to 459,774,985 of its ordinary share holdings in WML, upon and subject to the terms and conditions in the Securities Lending Agreement. WM Cayman I may, at its sole discretion, terminate any stock loan by giving the WML Stock Borrower no less than five business days' notice. The Securities Lending Agreement terminates on the date on which the WML Convertible Bonds have been redeemed, or converted in full, whichever is the earlier. As of the date of this report, the WML Stock Borrower held 79,774,985 WML shares under the Securities Lending Agreement. Retail Joint Venture The Retail Joint Venture made aggregate distributions of $7.6 million and $6.0 million during the three months ended June 30, 2026 and 2025, respectively, and $15.9 million and $12.3 million during the six months ended June 30, 2026 and 2025, respectively, to its non-controlling interest holder. For more information on the Retail Joint Venture, see Note 16, "Retail Joint Venture."
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