Both of Wynn’s Macao properties returned to profit in the first quarter of this year, according to a regulatory filing made on Tuesday by Wynn Resorts.
Operating revenues at the flagship Macao property, Wynn Palace, stood at $369.4 million (roughly 2.98 billion patacas) for the first quarter of 2023, Wynn Resorts said.
The sum represents an increase of $206.0 million from the $163.3 million recorded during the same period last year.
Meanwhile, operating revenues at Wynn Macau stood at US$230.7 million (about 1.8 billion patacas) for the first three months of the year, according to the same filing.
The figure represents a year-on-year increase of $95.6 million.
[See more: Covid-19 taught Macao’s casinos to keep their costs down and they plan to keep it that way]
At Wynn Palace, adjusted earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs stood at $111.1 million (some 898 million patacas) for the first quarter of 2023, compared to $0.9 million loss for the first quarter of 2022.
For Wynn Macau, the figure was $44.7 million (about 361.3 million patacas) for the first quarter of 2023, compared to a $4.7 million loss for the first quarter of 2022.
Craig Billings, CEO of Wynn Resorts, said: “In Macau, after several challenging years, we were pleased to experience a meaningful return of visitation and demand, particularly in our mass gaming and retail businesses. We believe we are well-positioned for success in Macau’s next phase of growth”.
