Good Morning. The first quarter failed to deliver highly for many Macau operators, with Wynn Resorts indicating that it had also seen a downturn during the period in the world’s largest gaming hub. Income was down significantly, as revenue across the group’s two properties declined, partially influenced by low VIP hold. Meanwhile, operators and experts continue to turn their focus to non-gaming, with a top panel indicating that IRs can no longer be casino-dominated properties, with gaming becoming just one component of the revenue mix.
What you need to know
- Wynn Resorts’ Macau operations bore the brunt of stiff competition in 1Q25, with across-the-board drops year-on-year.
- Non-gaming amenities are emerging as both essential and lucrative components of the business model for IRs in Asia, says a panel of experts.
On the radar
- Wynn Al Marjan seen as “most compelling opportunity in the industry”: CEO.
- DigiPlus sets up Singapore subsidiary with no gaming operations.
- Macau players show 54% YoY wager surge in ‘revenge spending’: Citigroup.
- Multi-entry visa for tour groups drives 120K Hengqin-Macau trips in 2024.
AGB Intelligence
RESULTS
Wynn’s Macau operations off to slow start in 2025
Wynn Resorts’ Macau operations failed to shine during the first quarter of the year, dragged down by a low VIP hold. The group’s Macau peninsula property saw particularly slow results, partially boosted by its Cotai flagship, however,, yearly comparisons were all negative. The group’s CEO has high expectations for 2Q25 though, indicating strong results in April and a hefty boost from Golden Week.
Industry Updates
- BMM Innovation Group strengthens Asia-Pacific presence at G2E Asia 2025.
- Play’n GO remains firm against providing games to sweepstakes casinos.
- MGM launches “MGM Responsible Gaming Employee Care Program”.
INTELLIGENCE | ASEAN | CAREERS
