Wynn Macau profit down 20.6 percent in 16H1

Casino operator Wynn Macau has reported a decline in profit attributable to owners, down 20.6 percent year-on-year, according to its interim results for the six months ended June 30, 2016.

In its filing, the company posted profit attributable to owners at HK$1.1 billion.

According to Wynn Macau, the decrease was “primarily due to lower gaming volume in [its] VIP casino and general casino.”

Casino revenues amounted to HK$9.2 billion, down 4.9 percent year-on-year, with VIP gross table games win down HK$7.2 billion, while mass market gross table games win went down 1 percent to HK$3.7 billion. Slot machine win decreased 15.3 percent to HK$643.3 million in 16H1.

The board has determined that no interim dividend would be declared or paid for the six months ended June 30, 2016.

Wynn Resort’s new Cotai resort, Wynn Palace opens on Monday, August 22. The $4.2 billion casino resort will include a 1,700-room hotel, a performance lake, and a wide range of amenities including meeting, retail, food and beverage, and casino spaces. It is said to be aimed at high-end and premium mass players.