In a regulatory filing this morning, casino operator Wynn Resorts said that operating revenues for the third quarter of 2024 increased $56.9 million at Wynn Macau, and decreased by $5 million at Wynn Palace, when compared to the third quarter of 2023. The respective totals for the period stood at $352 million and $519.8 million.
For the third quarter of 2024, adjusted property earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR) increased by $22.7 million at Wynn Macau and decreased by $14.8 million at Wynn Palace in a year-on-year comparison, to respectively stand at $100.6 million and $162.3 million.
At Wynn Palace, the table games win percentage in mass market operations was 23.9 percent, above the 23.3 percent experienced in the third quarter of 2023. Wins at VIP table games as a percentage of turnover stood at 3.04 percent, below the property’s expected range of 3.1 percent to 3.4 percent and below the 3.42 percent experienced in the third quarter of 2023.
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At Wynn Macau, the table games win percentage in mass market operations was 18.5 percent, above the 16.5 percent experienced in the third quarter of 2023. Wins at VIP table games as a percentage of turnover stood at 3.61 percent, above the property’s expected range of 3.1 percent to 3.4 percent and above the 3.52 percent experienced in the third quarter of 2023.
The company said that its cash and cash equivalents as of 30 September totaled $2.41 billion, including $1.34 billion held by Wynn Macau. Total current and long-term debt outstanding was $11.79 billion, including $6.41 billion of Macao related debt.
“Our third quarter results reflect healthy demand across our resorts highlighted by strong mass gaming win in Macao and solid non-gaming performance in Las Vegas. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets,” said Craig Billings, CEO of Wynn Resorts.
