Analysts at Deutsche Bank have predicted that Wynn Macau’s mass gaming revenue will rise 10 per cent against 2019 levels.<\/p>\n\n\n\n\n\n\n\n
Macau.- Wynn Macau <\/strong>is expected to see significant growth in mass gross gaming revenue (GGR), according to a note issued by Deutsche Bank analysts Carlo Santarelli <\/strong>and Steven Pizzella<\/strong>. They expect mass GGR to rise 10 per cent against 2019 levels in 2024 to reach US$2.99bn<\/strong>.<\/p>\n\n\n\n They base their forecast on the growth of China’s GDP, relative to 2019, and a shift in Wynn’s strategy to focus more on the premium mass segment to offset the VIP shortfalls. Recent periods of intermittent growth saw mass gaming trends reach 2019 levels despite logistical challenges for travellers.<\/p>\n\n\n\n According to Asian Gaming Brief, in its previous estimate, Deutsche Bank predicted the VIP market would return to 37 per cent of 2019 levels in 2024. However, if analysts’ mass and VIP GGR estimates hold true, <\/strong>the mix in 2024 would shift to 76 per cent mass <\/strong>(51 per cent in 2019) and 24 per cent VIP (49 per cent in 2019).<\/p>\n\n\n\n In February Macau visitation and GGR values were both only 57 per cent of 2019 levels,\u00a0visitation was up to 143.1 per cent<\/a>\u00a0and\u00a0GGR at 55 per cent<\/a>\u00a0when compared to last year.\u00a0Factors that may contribute to Macau’s recovery include the\u00a0relaunch of tour groups<\/a>. The\u00a0Statistics and Census Service (DSEC)\u00a0<\/strong>has recently reported that 16,200 tourists from mainland China visited Macau on package tours in the three weeks of operations.\u00a0<\/p>\n\n\n\n Wynn Macau has reported that its operating revenue for 2022 decreased by 52.2 per cent on year-on-year terms to MOP6.37bn (US$787.5m). Operating revenues decreased by US$473.75m at\u00a0Wynn Palace<\/strong>\u00a0and US$314.8m at\u00a0Wynn Macau<\/strong>\u00a0due to decreased gaming volumes resulting from travel restrictions related to the Covid-19 pandemic.<\/p>\n\n\n\n Wynn Palace\u2019s casino revenues dropped by 62.3 per cent year-on-year to US$255.9m, and Wynn Macau experienced a 54.6 per cent year-on-year decrease to US$216.6m. Adjusted property EBITDAR<\/strong> for Wynn Palace and Wynn Macau decreased by US$188.2m and US$128.3m respectively. <\/p>\n\n\n\n The company had US$3.65bn in cash and cash equivalents, excluding restricted cash, as of December 31, 2022, and US$837m in borrowing capacity.<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts at Deutsche Bank have predicted that Wynn Macau’s mass gaming revenue will rise 10 per cent against 2019 levels.<\/p>\n","protected":false},"author":176,"featured_media":25750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Deutsche Bank analysts project Wynn Macau's mass GGR to increase by 10% against 2019 levels in 2024, reaching US$2.99bn, driven by China's GDP growth and a strategic pivot towards the premium mass segment. This forecast suggests a significant shift in GGR mix, with mass gaming comprising 76% of total GGR in 2024 compared to 51% in 2019. The report also details Wynn Macau's 2022 operating revenue decline due to pandemic-related travel restrictions, alongside its current liquidity position.","focusai_entities":"Wynn Macau, Deutsche Bank, Carlo Santarelli, Steven Pizzella, Asian Gaming Brief, Statistics and Census Service (DSEC), Wynn Palace","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Premium Mass Strategy","query":"What specific operational and marketing initiatives is Wynn Macau implementing to capture the projected growth in the premium mass segment, and how do these differ from pre-pandemic VIP strategies?"},{"label":"GGR Mix Sustainability","query":"Given the projected shift to 76% mass GGR by 2024, what are the long-term implications for Wynn Macau's profitability and margin structure compared to the historical VIP-dominant model?"}],"footnotes":""},"categories":[157,16338],"tags":[20777],"class_list":["post-777003875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003875","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777003875"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003875\/revisions"}],"predecessor-version":[{"id":777003886,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003875\/revisions\/777003886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25750"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Wynn Macau posts US$787.5m in operating revenue for 2022<\/h2>\n\n\n\n