Wynn Macau reports US$127.5m income for Q2

The figure represents a 171 per cent increase compared to the first quarter.

Macau.- Wynn Macau Ltd has shared its financial results for the quarter ended June 30. The company reported consolidated income of US$127.5m, reflecting a 171 per cent increase compared to the first quarter. The figure compares to a US$181.2m loss in the same period last year.

According to the latest financial report from parent company Wynn Resorts, adjusted property EBITDAR reached US$246.2m, up 58 per cent. Adjusted property EBITDAR from Wynn Palace was US$156.6m, while operating revenues for Wynn Macau reached US$301.6m, an increase of US$243m from the previous quarter. Operating income was US$47,267 at Wynn Macau and US$47,267 at Wynn Palace.

Boosted by the performance in Macau, Wynn Resorts’ overall adjusted property EBITDAR reached US$524.5m, a 193 per cent increase compared to the second quarter of 2022. The company reported US$105.2m in net income attributable, compared to the US$130.1m in net losses for the second quarter of 2022.

Wynn Resorts CEO, Craig Billings, stated: “In Macau, the post-COVID recovery accelerated during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses.” 

He added “Our second quarter results reflect continued strength in North America and Macau. In the US, Wynn Las Vegas and Encore Boston Harbor continue to perform well, generating a new second quarter record for Adjusted Property EBITDAR at our combined North American properties.”

Wynn Resorts has declared a cash dividend of US$0.25 per share, payable to stockholders on August 31, 2023.