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Wynn Resorts logs US$75 million loss in Macao in Q1

The company’s Macao operations generated 74.5 per cent of its total adjusted property EBITDA in the first quarter of 2021.

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The company’s Macao operations generated 74.5 per cent of its total adjusted property EBITDA in the first quarter of 2021.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 5:04 am

Wynn Resorts reported today an operating loss of US$75 million (MOP 602 million) in Macao in the first quarter of this year. 

According to a statement by the US gaming operator, its operating loss in Macao in the first quarter of last year amounted to US$ 111.2 million

Adjusted EBITDA in Macao rose by 49.5 per cent from US$ 29.3 million in the first three months of last year to US$43.9 million in the same period of this year. 

Macao confirmed its first novel coronavirus case on 22 January last year. Foreign nationals have been barred from entering Macao since March 2020. 

The company’s Macao operations generated 74.5 per cent of its total adjusted property EBITDA in the first quarter of 2021, according to the figures released today. 

The statement quoted Wynn Resorts CEO Matt Maddox as saying that “in Macao, we experienced continued gradual improvement in visitation trends driving particular strength in premium mass casino and luxury retail.” 

Wynn Resorts owns two of Macao’s 41 casinos.

 

UPDATED: 22 Dec 2023, 5:04 am

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