Wynn Resorts operating revenues decrease in Q4 2020

Wynn Resorts announced that for the year ended 31 December 2020, operating revenues decreased US$2.04 billion at Wynn Palace and $1.60 billion at Wynn Macau.

Wynn Macau
Photo by Barbara Kraft

Operating revenues from Wynn Palace were US$221.5 million for the fourth quarter of 2020, a 62.5 per cent decline compared to US$590.0 million in the fourth quarter of 2019.

Adjusted Property EBITDA from Wynn Palace was US$28.7 million for the fourth quarter of 2020, compared with US$177.6 million for the fourth quarter of 2019.

VIP table games win as a percentage of turnover was 1.97 per cent, below the property’s expected range of 2.7-3.0 per cent and below the 3.07 per cent experienced in the fourth quarter of 2019. Table games win percentage in mass market operations was 21.6 per cent, compared to the 25.2 per cent experienced in the fourth quarter of 2019.

Wynn Macau’s operating revenues were US$181.9 million for the fourth quarter of 2020, a 65.4 per cent decline from US$525.4 million for the fourth quarter of 2019.

Adjusted Property EBITDA from Wynn Macau was US$10.7 million for the fourth quarter of 2020, compared with US$170.1 million for the fourth quarter of 2019.

VIP Table games win as a percentage of turnover was 3.10 per cent, above the property’s expected range of 2.7-3.0 per cent and below the 3.27 per cent experienced in the fourth quarter of 2019. Table games win percentage in mass market operations was 17.9 per cent, below the 20.3 per cent experienced in the fourth quarter of 2019.

Wynn Resorts also announced that for the year ended 31 December 2020, operating revenues decreased US$2.04 billion at Wynn Palace and $1.60 billion at Wynn Macau.

“We are encouraged by the progress we have made at each of our properties over the past several months, as we continue along the road to recovery from the pandemic. In Macao, the gradual and thoughtful easing of visitation restrictions allowed us to return to Adjusted Property EBITDA profitability in the fourth quarter, with particular strength in our premium mass business,” said Matt Maddox, CEO of Wynn Resorts.