The company reported a fall in its net loss from US$161.2m to US$188.5m when compared to the prior-year quarter.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Wynn Macau Ltd\u00a0has reported US$161.2m\u00a0in net losses<\/strong>\u00a0for 2022 Q1. That compares to US$188.5m in the prior-year quarter. It also registered a fall in operating revenues to US$298.4m, down 28.4 per cent when compared to the previous year.<\/p>\n\n\n\n EBITDA was US$6m. The casino operator also registered a negative adjusted property EBITDA of US$4.7m for the first quarter, compared to a positive US$16.6m for the first quarter of 2021.<\/p>\n\n\n\n VIP turnover at Wynn Macau fell 50.8 per cent year-on-year, to US$887.1m while mass-market table drop fell 20.6 per cent to US$469.1m. Operating revenues at Wynn Palace fell to US$163.3m. The venue reported a negative EBITDA of US$0.9m, compared to a positive US$27.4m for the first quarter of 2021.<\/p>\n\n\n\n VIP turnover at Wynn Palace was down 56.1 per cent year-on-year, to US$965.6m while mass-market table drop plunged 12.5 per cent, to US$531.9m.<\/p>\n\n\n\n Group\u2019s chairman, Allan Zeman<\/strong>, said: “Visitation to Macau has fallen significantly since the outbreak of Covid-19, driven by the strong deterrent effect of the Covid-19 pandemic on travel and social activities, quarantine measures put in place in Macau and elsewhere, travel and entry restrictions and conditions in Macau, the PRC, Hong Kong and Taiwan involving Covid-19 testing, among other things, and the suspension or reduced accessibility of transportation to and from Macau.”<\/p>\n\n\n\n In the last quarter of the year 2021, the company had reported\u00a0US$208.1m in net losses<\/a>, an increase from the US$179.8m loss reported in the previous quarter.<\/p>\n\n\n\n Wynn Macau has recorded a provision of HK$62m (US$7.9m) for litigation costs related to a case that found Wynn Resorts and junket operator\u00a0Dore Entertainment Co<\/a>\u00a0jointly responsible for HK$6m (US$747,482) owed to a VIP player.<\/p>\n\n\n\nWynn to record US$7.9m as provision on Dore court judgement<\/h2>\n\n\n\n