Gaming operator Wynn Macau ended the second quarter of 2023 reporting a consolidated income of $127.5 million, reflecting a 171 percent increase compared to the first quarter and extending its post-pandemic recovery momentum. Also, a notable improvement from the $181.2 million in losses posted in the same period last year.
According to the latest financial report by the concessionaire’s parent company Wynn Resorts Ltd., adjusted Property EBITDAR has also experienced a considerable hike, reaching $246.2 million, indicating a sequential growth of 58 percent.
“In Macau, the post-COVID recovery accelerated during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses,” stated Wynn Resorts CEO, Craig Billings.
Adjusted Property EBITDAR from Wynn Palace turned to $156.6 million in profit for the second quarter of 2023, with operating revenues for the Wynn Macau property ballooning to $301.6 million for the second quarter of 2023, an increase of $243.0 million from the previous quarter
Wynn Resorts ended the quarter with a cash position of $3.6 billion and total current and long-term debt outstanding of $12.1 billion, comprised of $6.7 billion of Macau related debt.
At the same, time Wynn Resorts, Limited reported $105.2 million in net income attributable for the second quarter of 2023, compared to the $130.1 million in net losses for the second quarter of 2022.
“Our second quarter results reflect continued strength in North America and Macau,” said Billings. “In the U.S., Wynn Las Vegas and Encore Boston Harbor continue to perform well, generating a new second quarter record for Adjusted Property EBITDAR at our combined North American properties”
