Wynn’s resorts are bouncing back, with the premium mass market proving especially fruitful.
Wynn Resorts
The company’s Macao operations generated 74.5 per cent of its total adjusted property EBITDA in the first quarter of 2021.
US gaming operator Wynn Resorts (Macau) has set up a foundation with an initial fund of MOP 10 million (US$1.25 million) to promote Macao’s “prosperous and harmonious development”, according to the foundation’s statues published in the Macao Government Gazette (BO) today.
The Centre for Gaming and Tourism Studies (CJT) of the Macao Polytechnic Institute (IPM) held a sharing session on “Gamblers’ Fatigue: The Evolving Trends of Gaming Behaviour among Gamblers” on its Taipa campus last week, presenting the latest research findings by a CJT research team headed by Prof Zeng Zhonglu, the public tertiary education institution said in a statement on Thursday.
Wynn Macau reported today a net loss of US$154.1 million (MOP 1.23 billion) in the first quarter.
Wynn Macau said in a statement that for the fourth consecutive year it has retained its position as the only resort in the world with eight Five-Star awards on the 2020 Forbes Travel Guide (FTG) Star Rating list.
As the 2022 concession expiry date looms closer, analysts start to weigh in on the possible scenarios.
Wynn Resorts CEO Matt Maddox says the company’s Macau subsidiary, Wynn Macau Limited, will present plans for its empty seven-acre parcel of land located alongside Wynn Palace in Cotai to the Macau government before the end of 2018.
Galaxy Entertainment Group and Wynn Resorts, Limited announced that Galaxy Entertainment has agreed to purchase 5.3 million primary shares of Wynn Resorts at a price of $175 a share, resulting in $927,500,000 of gross proceeds to Wynn Resorts.