Wynn Macau reports USD 181M in operating loss in 4Q22 as VIP segment turnover falls
Thursday 09 de February 2023 / 12:00
2 minutos de lectura
(Macau).- Wynn Macau’s operating loss for the fourth quarter of 2022 has widened to US$181.13 million (MOP1.46 billion), with casino revenue at Wynn Palace and its peninsula property falling 52.8 per cent and 47.2 per cent, respectively.
The adjusted property EBITDAR of Wynn Palace and the peninsula property stood at US$23.9 million and US$35.2 million respectively during the reporting period, with the figures expanding from US$1.4 million and US$24.5 million compared to the same period in 2021.
Casino revenues at the company’s Cotai property Wynn Palace fell by 52.8 per cent year-on-year to US$68.91 million, with its VIP segment turnover decreasing 11.9 per cent to US$1.04 billion, and VIP table games win dropping 96.4 per cent to US$1.11 million.
Mass market table games win was down 35.2 per cent to US$86.93 million, and the slot machine win dropped 38.9 per cent to US$8.3 million.
The company’s Macau peninsula property saw its casino revenues decrease by 47.2 per cent year-on-year to US$51.41 million, with its VIP turnover down 49.9 per cent year-on-year to US$429.57 million and VIP table games win down 79 per cent to US$5.13 million.
Mass table games win was down 40.2 per cent to US$54.7 million, and slot machine win increased 13.9 per cent to US$7.9 million.
Meanwhile, the parent company of Wynn Macau – Wynn Resorts, registered US$1 billion in operating revenues for the fourth quarter of 2022, a decrease of US$48.2 million from the US$1.05 billion reported during the same period in 2021.
The adjusted property EBITDAR of the group was US$195.1 million for 4Q22, compared to US$149.1 million in the previous year.
“In Macau, we were honored to be awarded with a new 10-year gaming concession during the quarter and were pleased to experience a meaningful return of visitation and demand during the recent Chinese New Year holiday period. We believe we are well-positioned for success in Macau’s next phase of growth.” Craig Billings, CEO of Wynn Resorts, was quoted as saying in the stock filing.
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