Wynn Palace revenues fall 97.4% in Q3

The operating revenues of Wynn Palace in Cotai fell 97.4% year-on-year to US$15.7 million (MOP 125.3 million) in the third quarter of this year

The operating revenues of Wynn Palace in Cotai fell 97.4 per cent year-on-year to US$15.7 million (MOP 125.3 million) in the third quarter of this year, Wynn Resorts Limited announced in a statement to the Hong Kong Stock Exchange Friday.

The operating revenues of Wynn Macau, the US gaming company’s casino resort in Nape, dropped 89.2 per cent year-on-year to US$474.3 million in the third quarter.

The statement quoted Wynn Resorts CEO Matt Maddox as saying that “in Macao, visitation restrictions have begun to gradually and thoughtfully ease, allowing us to achieve EBITDA break-even in October,” adding: “We are confident that Macao will continue to benefit from consumer demand as we head into 2021.”

Wynn Resorts (Macau) owns two of Macao’s 41 casinos.

“Wynn Macau” refers both the company’s casino-resort in Nape and Wynn Resorts’ subsidiary listed in Hong Kong.

“Wynn Macau, owned and operated by Wynn Macau, opened to the public on September 6, 2006,” according to the company’s online corporate profile.

Opened on 22 August 2016, Wynn Palace is the company’s second integrated resort in the Macao Special Administrative Region (MSAR).

Hong Kong-listed Wynn Macau is a subsidiary of Nasdaq-listed Wynn Resorts, Limited.

Cotai, an area of land reclaimed between the MSAR’s Taipa and Coloane islands, and Nape on the peninsula are Macao’s main casino precincts.

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