Wynn Macau reports decline in operating revenue for Q1
Wynn Macau reported first-quarter operating revenue of US$865.89m.
Macau.- Wynn Macau has shared its financial results for the fourth quarter. The casino operator posted operating revenue of US$865.89m, down 13.3 per cent in year-on-year terms.
The company posted US$252.1m in adjusted property EBITDAR (adjusted earnings before interest, taxation, depreciation, amortisation and rent). The figure was down 25.8 per cent year-on-year. Operating income stood at US$127.1m, a decrease of 38.3 per cent year-on-year.
Wynn Palace saw revenue of US$535.9m, down 8.7 per cent year-over-year. Adjusted Property EBITDAR was US$161.9m, down 20 per cent. Casino revenue was US$444.5m, down 6.2 per cent, while VIP turnover was US$4bn, up 2.1 per cent. The mass table drop was US$1.7bn, down 4.4 per cent.
The table games win percentage in mass market operations was 24.8 per cent. The VIP table games win as a percentage of turnover was 2.61 per cent. The venue had 55 VIP gaming tables and 247 mass-market tables in operation.
Wynn Macau‘s revenue was US$330m, down 19.9 per cent year-over-year. Adjusted property EBITDAR was US$90.2m, down 34.3 per cent. Casino revenue declined by 20.4 per cent from last year to US$275.6m while VIP turnover was down by 9.6 per cent at US$1.43bn. The mass table drop was US$1.54bn, down 8.3 per cent year-over-year. The Macau property had 30 VIP gaming tables and 221 mass-market tables in operation during the period.
Wynn Resorts CEO, Craig Billings, said: “Our first quarter results reflect continued strength throughout our business. In Macau, while VIP hold negatively impacted results, we held market share in our expected range, and announced an increased dividend from Wynn Macau, Limited, reflecting the strong free cash flow generated by the business.”
