Wynn Resorts Secures Framework to Resolve Encore Boston Harbor Strike While Deferring All Other Projects Until UAE Property Opens

Wynn Resorts reached a framework agreement to settle the strike at Encore Boston Harbor. CEO Craig Billings disclosed the development during the company's third-quarter 2026 earnings call, calling the work stoppage a modest headwind.

The action began on September 4 after collective-bargaining agreements expired on August 31. Roughly 1,350 union employees joined the picket line, seeking wage increases matching those at unionized downtown Boston hotels plus protections for healthcare benefits, job security, and guaranteed hours. Billings provided no specifics on the contract terms.

Strike Settlement and Property Performance

Billings stated the framework is fair and economically feasible over the long term. Union leadership recommended the deal to members, with ratification voting underway late Thursday. He noted that union ratification votes historically succeed and expressed satisfaction with the outcome.

Encore Boston Harbor produced $194.7 million in operating revenue for the quarter, down $17.1 million from $211.8 million the prior year. Table-games win percentage registered 18.9%, inside the property's typical 18% to 22% range and below the 20.5% posted in the third quarter of 2025. Billings rejected the notion that competitive pressures from igaming, historical horse racing, and the lottery render the asset diminished, citing its $2.6 billion investment and more than $1.1 billion in tax revenues generated.

UAE Project Priority Shapes Capital Deployment

Wynn contributed $62.2 million during the quarter to the 40% owned joint venture developing Wynn Al Marjan Island, lifting total contributions to $1.12 billion. The property is scheduled to open on September 27, 2027, with costs locked and construction advancing on schedule. As of September the project had hired 442 employees, primarily senior executives and managers.

Billings made clear that all other projects remain on hold until the UAE development completes. The company holds a land bank totaling 166 acres in Las Vegas, 16 acres in Boston, 13 acres in Macau, and 70 acres in the UAE. He described Texas as a fascinating market but stressed measured capital allocation across U.S. regional gaming given igaming risks and potential cannibalization. According to reporting by CDC Gaming, Billings indicated Wynn will evaluate lower-cost options tied to existing Las Vegas assets once the UAE opening confirms the expected returns.

The sequence underscores how one major offshore commitment sequences all other capital decisions for the operator.