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Wynn revenue falls 79.2% in H1

Wynn Macao has announced that is operating revenue decreased 79.2% to HK$3.97 billion in the first half of this year.

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Wynn Macao has announced that its operating revenue decreased 79.2 per cent to HK$3.97 billion (US$512.23 million) in the first half of this year.

A statement by the US gaming operator to the Hong Kong Stock Exchange on Friday said the decrease was “primarily due to the adverse effects of the COVID-19 pandemic.”

Casino revenues, which amounted to HK$2.98 billion, accounted for 85.9 per cent of total operating revenues.

The company founded by Steve Wynn recorded an operating loss of HK$3.17 billion in the first half of the year.

The statement pointed out that the COVID-19 pandemic “has had and will likely continue to have an adverse effect on our business, operations, financial condition, operating results and cash flows”.

The company chaired by Hong Kong business mogul Allan Zeman said it believed that “it is able to support continuing operators and respond to the current COVID-19 pandemic challenges,” underlining that as of 30 June, it had total cash and cash equivalents, excluding restricted cash, of HK$18.86 billion.

Wynn Macau owns two of the city’s 41 casinos.

(The Macau Post Daily/Macau News)
PHOTO © Wynn Macau

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