Wynn Macau reports decline in operating revenue for Q4

Wynn Macau reported fourth-quarter operating income of US$160.8m.

Macau.- Wynn Macau has shared its financial results for the fourth quarter. The casino operator posted operating revenue of US$160.8m, down 5.3 per cent in year-on-year terms but up 12.1 per cent quarter-on-quarter.

The company posted US$292.8m in adjusted property EBITDAR (adjusted earnings before interest, taxation, depreciation, amortisation and rent). The figure was down 1.4 per cent year-on-year but up 11.4 per cent sequentially.

On a property basis, Wynn Palace saw revenue of US$562.9m, up 7.3 per cent year-over-year. Adjusted Property EBITDAR was US$184.6m, up 7.9 per cent. Casino revenue was US$458.8m, up 10 per cent, while VIP turnover was US$3.06bn, down 3.2 per cent. The mass table drop was US$1.67bn, down 2 per cent.

The table games win percentage in mass market operations was 26 per cent. The VIP table games win as a percentage of turnover was 3.51 per cent, up the 2.97 per cent in the fourth quarter of 2023. The venue had 56 VIP gaming tables and 247 mass-market tables in operation. Hotel occupancy was 98.4 per cent.

Wynn Macau‘s revenue was US$363.7m, down 5.8 per cent year-over-year. Adjusted property EBITDAR was US$108.2m, down 14 per cent. Casino revenue declined by 4.4 per cent from last year to US$306.5m while VIP turnover was down by 22.3 per cent at US$1.09bn. The mass table drop was US$1.54bn, down 1 per cent year-over-year. The Macau property had 31 VIP gaming tables and 220 mass-market tables in operation during the period. Hotel occupancy was 99.4 per cent.

For full-year 2024, Wynn Macau recorded operating revenue of US$3.68bn, up 18.77 per cent year-on-year. Wynn Palace contributed US$2.22bn, up 17.5 per cent year-on-year, while Wynn Macau brought in US$1.46bn, up 20.7 per cent. Both properties saw yearly rises in casino revenue, up by 22 per cent in Cotai to US$1.79bn and by 26.8 per cent on the peninsula to US$1.23bn. Wynn’s Macau properties saw a 23.23 per cent increase in year-on-year terms in adjusted property EBITDAR, reaching US$1.17bn

Wynn Resorts CEO, Craig Billings, said: “Our fourth quarter and full-year results reflect continued strength throughout our business, setting another full-year record for Adjusted Property EBITDAR for the Company in 2024, with another annual record in Las Vegas. We delivered strong quarterly performance in Las Vegas on very tough comparables and drove healthy market share in Macau led by strength in both premium mass and VIP.”

Wynn Macau reported fourth-quarter operating income of US$160.8m. Macau.- Wynn Macau has shared its financial results for the fourth quarter. The casino operator posted operating revenue of US$160.8m, down 5.3 per cent in…