Wynn Macau grants share options to five non-executive directors

Wynn Macau Ltd has announced that five non-executive directors have been granted new share options.

Macau.- Gaming operator Wynn Macau has announced it has granted a purchase option to five of its non-executive directors to subscribe for an aggregate of ordinary shares at HKD6.92 each share. Chariman Alan Zeman was the largest individual beneficiary of the new share options, obtaining nearly 3.78 million options, which is slightly less than 42 per cent of the total shares. Others received more than 1.32 million options each.

The share price of Wynn Macau hit a historical high of HK$16.44 on March 3. Its year year-to-date low was HK$5.90 on September 20. In November, Wynn Resorts shared its financial results for the quarter ended September 30. Its properties in Macau registered a decline of 34 per cent quarter-on-quarter in total operating revenue, down from US$354.5m to US$312m.

It reported US$130.7m in operating revenue while adjusted property EBITDA was US$1.9m, compared with US$34.5m for the third quarter of 2020. 

VIP table games win as a percentage of turnover was 2.44 per cent, below the property’s expected range of 2.7 per cent to 3 per cent. Table games win percentage in mass market operations was 19.7 per cent, above the 18.7 per cent registered last year.

Craig Billings to lead Wynn Macau from February 1

Last month, Craig Billings was selected to become CEO of Wynn Resorts and CEO of Wynn Macau Ltd. from February 1, 2022. Billings joined Wynn Resorts as chief financial officer in March 2017. He also served as the president of the company and most recently as the CEO of Wynn Interactive. 

He will replace Matthew O Maddox, who has been Wynn’s CEO since February 2018. However, Maddox will remain as a non-executive director of the company will end until December 31, 2022.