Good Morning. The sun is truly shining on Macau once again. Wynn announced a return to profit, led by its Cotai property, with triple-digit increases across the board. The company remains confident in its direct VIP business, saying it could even surpass previous levels, noting that Golden Week was a smash hit. More results are in, with IGT seeing incremental growth, as AEBITDA rose on over $1 billion in revenue in 1Q23. Light & Wonder also saw strong returns, returning to profit again on double-digit growth across all segments.

ASEAN Gaming Summit, asia gaming ebrief, Philippines

What you need to know

  • Wynn’s Macau properties shone brightly in 1Q23, returning to profit and delivering $155mln in EBITDAR.
  • Direct VIP levels at Wynn’s Macau properties could exceed pre-pandemic levels, based on strong Golden Week figures.
  • IGT saw strong first quarter results, as revenue topped $1 billion, despite slight drops in the lottery segment.
  • Light & Wonder registered $27 million in profit for 1Q23, with double-digit growth in all product segments.

On the radar

AGB Intelligence


Wynn Palace, Macau, profit, asia gaming ebrief

Wynn sees heady 1Q23 results, driven by Cotai

Wynn’s Macau operations more than delivered in the first quarter, with triple-digit growth, a return to profit and healthy EBITDAR. The uptick was driven by its Cotai Strip property, Wynn Palace, as the peninsula property finalized renovations. US operations lagged Macau, but saw double-digit returns, contributing to the group’s $1.4 billion in revenue during the period.

Industry Updates

G2E Asia Singapore 2023