Wynn Macau posts net loss of US$116.6m for Q2

Wynn Macau Ltd has reported a net loss of US$116.6m for the second quarter of the year 2021, down 27.7 per cent when compared to the previous quarter.

Macau.- Wynn Resorts Macau has reported US$116.6m in net losses for the second quarter of the year. Property earnings before interest, taxation, depreciation and amortisation (EBITDA) grew 54 per cent to US$67.6m.

The latter figure represented an improvement from the negative EBITDA of US$193.6m in Q2 2020 and marks the third consecutive quarter of positive property EBITDA.

Operating revenues from the two Wynn casinos in Macau reached US$354.5m, up 9.1 sequentially. Aggregate mass-market table was US$1.38m, up 14.8 per cent sequentially.

Wynn’s VIP turnover was down 17.5 per cent when compared to the previous quarter. The company gained nearly US$111m from its VIP table games, down 28.5 per cent sequentially.

For the first quarter, Wynn Resorts Macau reported US$417m in operating revenue. At the time, Wynn Palace reported US$237.3m in operating revenues, down 9 per cent year-on-year from US$259.5m while adjusted property EBITDA was US$27.4m.

As for Wynn Macau, it reported US$179.7m in operating revenues, down 21.7 per cent when compared to the same period in 2020. Adjusted Property EBITDA was US$16.6m.

Macau casinos to remain open at least for now

The government of Macau has said that it won’t close casinos as a result of the detection of four community Covid-19 cases this week.

The cases led authorities to order the shut down of entertainment venues and to carry out mass testing. Police have cordoned the zone where the infected family lives and declared it a “red zone”.

Ho Iat Seng, Macau’s Chief Executive, said casinos won’t have to shut for now “because the problem did not happen there.”