Total current and long-term debt outstanding at March 31, 2023 was $12.25 billion , comprised of $6.75 billion of Macau related debt, $2.64 billion of Wynn Las Vegas debt, $2.25 billion of Wynn Resorts Finance debt, and $613.6 million of debt held by the retail joint venture which we consolidate.

As of early 2026, Wynn Resorts Limited (WYNN) maintains a significant but stabilized debt load. According to fiscal year-end reports for 2025, the company's total debt sits at approximately $12.196 billion. This reflects a slight decrease from its 5-year peak in December 2022, which saw debt levels reach $13.79 billion. The majority of this debt is tied to long-term financing for its massive luxury properties in Las Vegas, Macau, and the newer Encore Boston Harbor, as well as its massive "Wynn Al Marjan Island" project in the UAE. While $12.2 billion is a substantial figure, it is benchmarked against competitors like Caesars Entertainment ($25.6 billion) and MGM Resorts ($31.5 billion), suggesting that Wynn manages its leverage relatively effectively within the capital-intensive gaming and hospitality sector, maintaining a total debt-to-assets ratio of roughly 95% to 96%.