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Wynn Macau posts a 21.3 percent growth in third quarter

Macau casino operator Wynn Macau Ltd reported a US$183.2 million for the third quarter of 2017, a 21.3-percent increase from US$151.0 million for the same period of 2016.

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UPDATED: 22 Dec 2023, 5:48 am

Macau casino operator Wynn Macau Ltd reported a US$183.2 million for the third quarter of 2017, a 21.3-percent increase from US$151.0 million for the same period of 2016.

“We are very happy with the progress of Macau … When we started, we had 9 percent of the (Macau) market with one hotel … and now we have 16 percent of the market,” said company chairman and chief executive Steve Wynn during an earnings conference call with analysts, for the U.S.-based parent Wynn Resorts.

The Wynn Palace property on Cotai generated net revenues and adjusted property EBITDA of US$555.3 million and US$138.2 million, respectively, for the third quarter of 2017.

Third-quarter casino revenues from Wynn Palace were US$514.5 million, compared to US$146.7 million for the same period of 2016.

Table games turnover in VIP operations was US$13.69 billion, compared to US$4.15 billion for the third quarter of 2016 and up 18 percent quarter-on-quarter.

Table drop in mass-market operations was US$866.6 million, compared to US$275.9 million for the third quarter of 2016 and up 18.9 percent sequentially.

Net revenues from the Wynn Macau casino hotel property on the peninsula were US$567.7 million for the third quarter of 2017, up 16.2 percent from the prior-year period, but down 16.8 percent quarter-on-quarter.

Adjusted property EBITDA from the Wynn Macau resort rose 21.3 percent year-on-year to US$183.2 million, but declined 12.9 percent sequentially.

Casino revenues from the Wynn Macau property were US$567.7 million for the third quarter of 2017, a 16.2-percent increase from a year earlier, but down 13.3 percent from the second quarter.

Table games turnover in VIP operations was US$13.37 billion, up 22.2 percent from the prior-year period, but down 16.5 percent quarter-on-quarter.

Table drop in mass-market operations was US$1.07 billion for the period, a 3.2-percent decrease compared to the third quarter of 2016. Table games win in the segment increased 5.5 percent year-on-year to US$216.4 million.

UPDATED: 22 Dec 2023, 5:48 am

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