Moody’s Investors Service has upgraded the Macau casino operator’s outlook to stable.<\/p>\n\n\n\n\n\n\n\n
Macau.- Moody\u2019s Investor Services <\/strong>has upgraded Wynn Macau\u2019s credit outlook <\/strong>from ‘negative’ to ‘stable’. The company\u2019s senior unsecured notes rating has been upgraded from \u2018B2\u2019 to \u2018B1\u2019.<\/p>\n\n\n\n Wynn Macau is a 72.2-percent owned subsidiary of\u00a0Wynn Resorts Finance<\/strong>, a wholly-owned subsidiary of Wynn Resorts. It operates the Wynn Palace resort on Cotai. <\/p>\n\n\n\n Wynn Resorts Finance has been affirmed as having a B1 corporate family rating and Ba1 credit rating. Wynn Resorts Finance’s outlook has been changed to ‘stable’.<\/p>\n\n\n\n The ratings agency said the expected recovery in Macau<\/strong>, coupled with the strong performance at the company’s Las Vegas and Encore Boston Harbor properties, will support revenue and EBITDA growth and drive leverage down.\u00a0<\/p>\n\n\n\n The ratings agency expects Wynn Resorts to pursue other large, high-profile casino resort development opportunities, such as\u00a0its development in the United Arab Emirates<\/a>.\u00a0<\/p>\n\n\n\n For the third quarter of the year,\u00a0Wynn Macau<\/a>\u00a0posted operating revenue of US$819.8m, up 6.5 per cent\u00a0in quarter-on-quarter terms<\/a>\u00a0and up 609.2 per cent when compared to last year. The company posted US$254.9m in adjusted property EBITDAR (adjusted earnings before interest, taxation, depreciation, amortisation and rent). It reported a net loss attributable to owners of US$6.2m.<\/p>\n","protected":false},"excerpt":{"rendered":" Moody’s Investors Service has upgraded the Macau casino operator’s outlook to stable.<\/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":"Moody's Investors Service has upgraded Wynn Macau's credit outlook from 'negative' to 'stable' and its senior unsecured notes rating, citing the expected recovery in Macau and robust performance from its Las Vegas and Encore Boston Harbor properties. This positive revision for Wynn Macau and its parent, Wynn Resorts Finance, is predicated on anticipated revenue and EBITDA growth, reduced leverage, and strategic pursuit of new resort developments, including in the United Arab Emirates.","focusai_entities":"Moody\u2019s Investors Service, Wynn Macau, Wynn Resorts Finance, Wynn Resorts","focusai_location":"Macau, Las Vegas, Boston, United Arab Emirates, Cotai","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Allocation Impact","query":"How might Wynn Macau's upgraded credit outlook influence its capital expenditure strategy for existing properties and its pursuit of new high-profile casino resort developments, particularly in emerging markets like the UAE?"},{"label":"Macau Recovery Sustainability","query":"What specific indicators of Macau's market recovery are most heavily weighted in Moody's assessment, and what are the potential risks to the sustainability of this recovery that could impact Wynn Macau's leverage reduction targets?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,20777],"class_list":["post-777011830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011830","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=777011830"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011830\/revisions"}],"predecessor-version":[{"id":777011851,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011830\/revisions\/777011851"}],"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=777011830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}