{"id":9049,"date":"2020-08-15T16:30:07","date_gmt":"2020-08-15T16:30:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=9049"},"modified":"2026-04-24T02:43:30","modified_gmt":"2026-04-24T05:43:30","slug":"operating-revenues-fall-79-at-wynn-macau","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/operating-revenues-fall-79-at-wynn-macau","title":{"rendered":"Operating revenues fall 79% at Wynn Macau"},"content":{"rendered":"\n

The group has suspended major project capital expenditures for the remainder of the fiscal year.<\/p>\n\n\n\n\n\n\n\n

Macau.- Wynn Macau has posted interim financial results for the first half of 2020, showing a drop of 79.2 per cent in operating revenues.<\/p>\n\n\n\n

Operating revenues totalled HK$3.97 billion (US$512 million), \u201cprimarily due to the adverse effects of the Covid-19 Pandemic\u201d<\/p>\n\n\n\n

Casino revenues were down to HK$2.9 billion (US$384 million), from HK$16.2 billion (US$2.1 billion) in the same period last year.<\/p>\n\n\n\n

Gaming income from Wynn Palace dropped from HK$9 billion (US$1.16 billion) last year to HK$1.5 billion (US$197million) in the six months prior to June 30. Wynn Macau\u2019s casino also reported only HK$1.4 billion (US$187 million) during the latest period, when in the first six months of 2019 it had seen HK$7.3 billion (US$942 million).<\/p>\n\n\n\n

VIP table games decreased by 85.4 per cent, to HK$1.72 billion (US$221 million), with total VIP table games turnover down 78 per cent to HK$78.41 billion (US$10.1 billion).<\/p>\n\n\n\n

Mass market table games decreased by 77.8 per cent to only HK$2.02 billion (US$260 million) in the six months ended 30 June 2020. And slot machine gaming operations decreased by 79.3 per cent year-on-year, to HK$0.29 billion (US$37.4 million).<\/p>\n\n\n\n

Adjusted EBITDA was also down, from HK$5 billion (US$645 million) in the first six months of 2019 to a loss of HK$1.39 billion (US$179 million) in H1 2020.<\/p>\n\n\n\n

Finally, losses<\/a><\/em><\/strong> attributable to owners for the period totalled HK$3.91 billion (US$504.5 million), down from a profit of HK$2.8 billion last year (US$361.2 million).<\/p>\n\n\n\n

The group said: \u201cGiven the evolving situation associated with the Covid-19 Pandemic, we are currently unable to determine when travel-related restrictions and requirements will be further lifted. Lifted measures may be reintroduced if there are adverse developments.<\/p>\n\n\n\n

\u201cWe do not expect our business volume to materially improve until tourist visitation to Macau materially improves.\u201d<\/p>\n\n\n\n

Wynn Macau has decided to temporarily postpone major project capital expenditures for the remainder of fiscal year 2020. They said they will resume “when conditions have stabilized.\u201d<\/p>\n\n\n\n

However, the group has continued with the design phase for the Crystal Pavilion adjacent to Wynn Palace. Construction of the new venue is expected to begin in late 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

The group has suspended major project capital expenditures for the remainder of the fiscal year.<\/p>\n","protected":false},"author":2,"featured_media":0,"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 a 79.2% decline in H1 2020 operating revenues to HK$3.97 billion, primarily due to the COVID-19 pandemic's impact on gaming verticals across VIP, mass market, and slots, resulting in a HK$3.91 billion net loss. Consequently, the group has suspended major project capital expenditures for the fiscal year, awaiting stabilization of tourist visitation to Macau.","focusai_entities":"Wynn Macau","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.98), investor_analyst (0.99), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau recovery timeline","query":"What specific GGR recovery metrics and tourist visitation thresholds would trigger Wynn Macau to reinstate its suspended capital expenditure projects?"},{"label":"Capital allocation strategy","query":"How does Wynn Macau's decision to continue the Crystal Pavilion design phase, despite broader capex suspension, reflect its long-term strategic capital allocation priorities in the Macau market?"}],"footnotes":""},"categories":[161,16338,163,158],"tags":[257,21630,20777],"class_list":["post-9049","post","type-post","status-publish","format-standard","hentry","category-daily-news","category-east-asia-news","category-finance-news","category-slider-home","tag-macau","tag-revenues","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9049","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=9049"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9049\/revisions"}],"predecessor-version":[{"id":9065,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9049\/revisions\/9065"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}