Good morning. Results season is fully underway, with Wynn now in focus. Looking at the group’s Macau operations, Wynn Palace continued to prop up the group’s other property on the peninsula, with strong revenue in 4Q24. Looking at the full year, both properties performed well, despite significant drops in VIP. Looking at M&A, Aristocrat has announced the completion of the $820 million sale of its Plarium business, now restructuring to eliminate Pixel United. And back in Macau, analysts have high hopes that Sands China will resume dividends after a five-year dry spell.
What you need to know
- Wynn Resorts’ Macau operations continued growth in 4Q24, with Wynn Palace helping compensate slow downs on the peninsula.
- Aristocrat completes $820 million sale of Plarium mobile gaming business, restructuring to eliminate Pixel United.
- Sands China may resume dividends after five-year hiatus, however initial payouts are modest, according to JP Morgan.
On the radar
- Mohegan INSPIRE nets $63.5M in net revenue in 4Q24.
- Universal Entertainment reports $101M loss in 2024.
- Aristocrat Interactive appoints Nir Hakarmeli as new iGaming & Sports Managing Director.
- MGM China 4Q24 results broadly in line with Jefferies estimates and consensus.
- Macau again ranked world’s Five-Star hotel capital by Forbes Travel Guide.
- Angel completes rollout of mass baccarat Smart Table Systems at Sands China.
- Smart tables increase strain on workers, Macau lawmaker warns.
- Kelsey Allison, former Global COO at Aruze Gaming, announces departure.
- Benedikt Becker promoted to VP of Marketing at Shikenso Analytics.
AGB Intelligence
RESULTS
Wynn Palace helps boost Macau operations in 4Q24
Macau continued to be a cash cow for Wynn Resorts, with its two properties contributing a combined $926 million in the fourth quarter of 2024. This was largely due to the performance of Wynn Palace, which helped offset revenue drops at the group’s peninsula property. For the full year, Macau contributed some $3.68 billion in revenue to the operator, as both properties saw rises in their casino segment.
Industry Updates
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Corporate Spotlight
1xBet’s 2024 Milestones: key achievements & heights of success
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
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