• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 13 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Wynn’s Macau properties record US$216 million loss in 3Q20

Ben Blaschke by Ben Blaschke
Fri 6 Nov 2020 at 05:55
Matt Maddox says Wynn Resorts has formed local Japan consortium, multiple cities targeted
28
SHARES
693
VIEWS
Print Friendly, PDF & Email

Wynn Resorts has reported a loss of US$216 million at its Macau resorts during the three months to 30 September 2020, impacted by COVID-19 restrictions that continued to prevent cross-border travel throughout the quarter.

Revenue for the three-month period fell 93.7% to US$67.1 million with an Adjusted EBITDA loss of US$112.1 million, slightly improved from revenue of just US$20.6 million and Adjusted EBITDA loss of US$193.5 million in 2Q20.

Much of the company’s declines were felt at flagship Cotai resort Wynn Palace, which reported operating revenues of US$15.7 million for the third quarter, a 97.4% decrease from US$598.2 million in 3Q19.

Adjusted Property EBITDA at Wynn Palace was a US$77.6 million loss.

At peninsula property Wynn Macau, operating revenues fell 89.2% to US$51.4 million with an Adjusted Property EBITDA loss of US$34.5 million.

Across both properties combined, VIP table games win for the quarter was US$19.7 million and mass table win US$24.9 million. Wynn Macau Ltd had reported an actual loss on casino play in the second quarter of US$15 million.

Group-wide revenue, including Wynn Resorts’ US properties and recently launched interactive business, declined 77.5% to US$370.5 million with a net loss of US$758.1 million.

“We are encouraged by the progress we have made in each of our properties over the past several months, despite the ongoing impact of the virus and related operating limitations,” said Wynn Resorts CEO Matt Maddox.

“Encore Boston Harbor delivered record quarterly EBITDA during the third quarter, while Wynn Las Vegas continued to experience strong leisure demand on weekends with solid hotel occupancy and casino play. In Macau, visitation restrictions have begun to gradually and thoughtfully ease, allowing us to achieve EBITDA break-even in October. We are confident that Macau will continue to benefit from the return of consumer demand as we head into 2021.”

RelatedPosts

G2E Asia 2025: Light & Wonder’s Ken Jolly

G2E Asia 2025: Light & Wonder’s Ken Jolly

Mon 12 May 2025 at 06:18
Macau GGR hits MOP$19.8 billion in August, up 6% month-on-month

Macau’s concessionaires rode their luck in 1Q25 on gains in VIP segment

Sat 10 May 2025 at 11:00
Galaxy Entertainment Group names Eileen Lui Wai Ling, sister of Francis Lui, as Executive Director

Galaxy Entertainment Group names Eileen Lui Wai Ling, sister of Francis Lui, as Executive Director

Sat 10 May 2025 at 09:20
Asian gaming industry celebrates in style with largest ever The Industry Party at Vista at MGM Cotai

Asian gaming industry celebrates in style with largest ever The Industry Party at Vista at MGM Cotai

Sat 10 May 2025 at 08:48
Load More
Tags: MacauMatt Maddoxthird quarterWynn MacauWynn PalaceWynn Resorts
Share11Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Marina Bay Sands completes transformation of entire hotel room inventory

Marina Bay Sands completes transformation of entire hotel room inventory

by Ben Blaschke
Tue 13 May 2025 at 10:47

Singapore’s Marina Bay Sands revealed Tuesday that is has now completed the renovation of its entire hotel room inventory – part of a massive US$1.75 billion multi-year transformation of the iconic integrated resort. The renovations, which included the expansion of...

PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

Philippines Anti-Money Laundering Council launches investigation into laundering of murdered billionaire’s ransom through casino junkets

by Ben Blaschke
Tue 13 May 2025 at 06:48

The Philippines’ Anti-Money Laundering Council (AMLC) said Monday that it would launch an investigation into the alleged money laundering of junket operators 9 Dynasty Group and White Horse Club, as well as their VIP players, following revelations they were involved...

Korea’s Paradise Co plays unlucky in April as casino revenue falls 13% to US$51 million

Korea’s Paradise Co reports higher casino sales in 1Q25 on strong hold, record mass drop

by Newsdesk
Tue 13 May 2025 at 06:20

Korea’s leading foreigner-only casino operator Paradise Co reported a 7.0% year-on-year increase in group-wide sales to KRW283.3 billion (US$199.8 million) in 1Q25, buoyed by a 13.0% increase in casino sales at its Seoul, Jeju and Busan properties to KRW115.6 billion...

Sega Sammy’s FY25 sales hit by decline in pachinko but new gaming segment shows promise

Sega Sammy’s FY25 sales hit by decline in pachinko but new gaming segment shows promise

by Ben Blaschke
Tue 13 May 2025 at 05:54

The new gaming business segment of Japan’s Sega Sammy Holdings showed positive signs in its first year of operations, generating sales of JPY5.4 billion (US$36.4 million) and Adjusted EBITDA of JPY1.0 billion (US$6.7 million) for the year ended 31 March...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語