Wynn Macau reports operating revenues of US$910.6m for Q4

Operating revenues were up 11.1 per cent from the preceding quarter.

Macau.- Wynn Macau has shared its financial results for the fourth quarter. The casino operator posted operating revenue of US$910.6m, up 11.1 per cent in quarter-on-quarter terms and up 378.5 per cent year-on-year.

The company posted US$297m in adjusted property EBITDAR (adjusted earnings before interest, taxation, depreciation, amortisation and rent). The figure was up 16.5 per cent from the third quarter. Casino revenue was US$737.9m, up 13.8 per cent quarter-on-quarter.

Operating revenues from Wynn Palace were US$524.4m, up from US$113.1m recorded in the fourth quarter of 2022. Adjusted property EBITDAR was US$171.1m. Casino revenue was US$417.3m. 

Table games win percentage in mass market operations was 23.6 per cent, above the 23.3 per cent experienced in the fourth quarter of 2022. VIP table games win as a percentage of turnover was 2.97 per cent, below the property’s expected range of 3.1 per cent to 3.4 per cent and above the 0.11 per cent experienced in the previous year.

Operating revenues from Wynn Macau were US$386.2m. Adjusted property EBITDAR was US$125.8m. Casino revenue was up 39.2 per cent sequentially, to US$320.6m.

Table games win percentage in mass market operations was 19.1 per cent, above the 17.2 per cent experienced in the fourth quarter of 2022. VIP table games win as a percentage of turnover was 4.37 per cent, above the property’s expected range of 3.1 per cent to 3.4 per cent and above the 1.20 per cent experienced in the previous year.

For full-year 2023, Wynn Macau recorded operating revenue of US$3.10bn. Adjusted EBITDAR stood at US$953.9m in 2023.

Wynn Resorts CEO, Craig Billings, stated: “The strong momentum we built throughout 2023 continued during the fourth quarter with Adjusted Property EBITDAR reaching a new all-time record. These impressive results highlight our team’s relentless focus on delivering five-star hospitality, which continues to elevate our properties above our peers as the destinations of choice for luxury guests in Las Vegas, Boston and Macau.”

See also: Fitch upgrades Wynn Resorts outlook