Wynn Macau benefited from the return of tourists to Macau, posting a first half profit of HK$87.46 million ($11.16 million).
The group reported a strong revenue increase yearly, with casino revenue up 272.8 percent, tp HK$8.27 billion ($1.05 billion), as Wynn Palace delivered strong contributions from its gaming floor.
The group’s Cotai property contributed some HK$4.98 billion ($636.66 million) in casino revenue during the period, up by 350.7 percent yearly, while the group’s peninsula-based property saw a 195 percent revenue increase, to HK$3.28 billion ($419.75 million).
Adjusted EBITDA for each property saw strong gains, at HK$1.86 billion ($238.42 million) for Wynn Palace and HK$897.27 million ($114.59 million) for Wynn Macau.
Surprisingly, VIP turnover during the period surged by 308.7 percent during the period at the group’s Wynn Palace property, hitting HK$41.81 billion, as mass drop rose by 263.4 percent, to HK$21.07 billion ($2.69 billion).
Wynn Macau saw VIP turnover reach HK$19.86 billion($2.53 billion), up 113.95 percent yearly, while mass market drop was up 223.9 percent, to HK$17.34 billion ($2.25 billion).
Non-casino revenues also rose, by 129.6 percent, to HK$2.48 billion ($315.45 million), with an increase of 315.9 percent in room revenues, to HK$273.5 million ($34.92 million) due to ‘higher occupancy rates and Average Daily Rate at both Wynn Palace and Wynn Macau following the discontinuation of pandemic-related travel restrictions in Macau’.
Wynn Palace saw a 92.2 percent occupancy rate during the period, while Wynn Macau was slightly higher, at 93.9 percent.
The group did not declare a dividend for the period.