Wynn Macau reports operating revenue of US$998.6m for Q1
Operating revenue was up 66.4 per cent when compared to last year.
Macau.- Wynn Macau Ltd has shared its financial results for the first quarter of the year. It reported operating revenue of US$998.6m, up 9.7 per cent sequentially and up 66.4 per cent when compared to last year.
The company recorded adjusted earnings before interest, taxation, depreciation, amortisation, and rent (EBITDAR) of US$339.6m, up 14.3 per cent sequentially and 118 per cent from the prior-year period.
On a property basis, Wynn Palace saw revenue of US$586.9m, up from US$369.4m in the first quarter of 2023 and up 11.9 per cent when compared to the previous quarter. Adjusted Property EBITDAR was US$202.4m. Casino revenue was up 75 per cent year-on-year at US$473.7m, while VIP turnover was US$3.92bn and the mass table drop US$1.78bn.
The VIP table games win percentage was 24.5 per cent. The venue had 59 VIP gaming tables and 245 mass-market tables in operation during the period.
Wynn Macau‘s revenue was US$411.7m, up 78.5 per cent year-on-year. Adjusted property EBITDAR was US$137.8m. Casino revenue grew by 96.4 per cent to US$346.35m and VIP turnover by 38.9 per cent to US$1.58bn. The mass table drop was US$1.68bn.
The VIP table games percentage win was 3.39 per cent. The Macau property had 30 VIP gaming tables and 221 mass-market tables in operation during the period.
Total casino revenue for the group, including non-Asian operations, was up 46.2 per cent year-on-year at US$1.12bn, while non-casino revenue was up 12.9 per cent at US$741.44m. Total revenue was US$1.86bn, up 30.9 per cent when compared to last year.
Craig Billings, CEO of Wynn Resorts, stated: “The strong momentum we experienced in our business throughout 2023 continued to build during the first quarter with Adjusted Property EBITDAR reaching a new all-time record. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets.”
