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Wynn Macau’s loss in previous quarter rise by 43.6% year-on-year to US$181.2 million

Company’s revenues in three months to 31 December 2022 dropped by 41.57% year-on-year from US$325.66 million to US$190.26 million.

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Company’s revenues in three months to 31 December 2022 dropped by 41.57% year-on-year from US$325.66 million to US$190.26 million.

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PUBLISHED

UPDATED: 22 Dec 2023, 12:31 am

Wynn Macau has reported an operating loss of US$181.2 million in the last quarter of 2022, a 43.6-per cent increase from the same quarter of 2021, when the figure stood at US$126.15 million. 

The company’s operating revenues from its two properties – Wynn Macau in the Macao peninsula and Wynn Palace in Cotai – in the three months to 31 December 2022 dropped by 41.57 per cent year-on-year from US$325.66 million to US$190.26 million. 

The decrease in the total revenues was mostly attributed to Wynn Palace, which recorded US$113.1 million in revenues for the fourth quarter of 2022, a year-on-year decrease of US$80.9 million from US$194 million. 

Adjusted Property EBITDAR from Wynn Palace for the last quarter of 2022 was negative US$23.9 million, compared to the negative US$1.4 million for the fourth quarter of 2021.

Operating revenues from the Wynn Macau property were US$77.2 million, a decrease of US$54.5 million from the same quarter of 2021, while its Adjusted Property EBITDAR was negative US$35.2 million for the fourth quarter of 2022, compared to the negative US$24.5 million in the same quarter of 2021. 

As of 31 December 2022, the Macao gaming operator’s cash and cash equivalents totalled US$951.9 million. 

 

UPDATED: 22 Dec 2023, 12:31 am

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