Revenues were down by 89.2 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n
Macau.- Casino operator Wynn Macau has published its latest financial results, reporting US$280.6 million (MOP2.2 billion) in net losses for the third quarter of the year. Operating revenues dropping by 89.2 per cent year-on-year to some US$474.3 million.<\/p>\n\n\n\n
CEO Mathew Maddox said in a statement: \u201cIn Macau, visitation restrictions have begun to gradually and thoughtfully ease, allowing us to achieve EBITDA break-even in October. We are confident that Macau will continue to benefit from the return of consumer demand as we head into 2021″.<\/p>\n\n\n\n
The group also reported US$35 million in Adjusted Property EBITDA losses for the three-month period. Wynn Palace accounted for US$77.6 million, and Wynn Macau HK$34.5 million.<\/p>\n\n\n\n
As of September 30, Wynn Macau held US$2.28 billion in cash and cash derivatives, with US$5.96 billion in outstanding debt.<\/p>\n\n\n\n
Brokerage Sanford C. Bernstein reported that in October,\u00a0Wynn\u00a0had positive EBITDA of US$6 million. Mass rose to 40 per cent of pre-COVID levels, and junket VIP to between 25 and 30 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Revenues were down by 89.2 per cent year-on-year.<\/p>\n","protected":false},"author":2,"featured_media":11579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Wynn Macau reported significant net losses of US$280.6 million for Q3, with operating revenues down 89.2% year-on-year, primarily due to visitation restrictions in Macau. Despite the losses, CEO Mathew Maddox noted a gradual easing of restrictions, leading to EBITDA break-even in October and expressing confidence in consumer demand recovery for 2021.","focusai_entities":"Wynn Macau, Mathew Maddox, Wynn Palace, Sanford C. Bernstein","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Recovery Outlook?","query":"What specific visitation metrics and policy changes are anticipated to drive Wynn Macau's projected consumer demand recovery into 2021, and how do these align with broader government initiatives?"},{"label":"Debt Restructuring Strategy?","query":"Given the US$5.96 billion in outstanding debt and current cash reserves, what is Wynn Macau's strategy for debt management and potential refinancing in the context of ongoing operational losses?"}],"footnotes":""},"categories":[160,16338,163],"tags":[257,20777],"class_list":["post-11577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-macau","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11577"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11577\/revisions"}],"predecessor-version":[{"id":11581,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11577\/revisions\/11581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11579"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}