HomeNewsMacauWynn Macau books $11.16 million profit in 1H23

Wynn Macau books $11.16 million profit in 1H23

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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.

Kelsey Wilhelm
Kelsey Wilhelmhttps://agbrief.com
Kelsey Wilhelm is a broadcast, print journalist and editor based in Asia for over 15 years. Focused on content creation, management, cross-cultural exchange and interviews for multi-lingual productions. Writing focus on gaming, business, politics, culture and heritage, events and celebrities, subcultures, music, film, art and fashion. Some of Kelsey's specialties are: editing, writing, copy creation, multi-lingual content production, cross-cultural exchange, content creation and management for Asian markets.

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