• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 20 June 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
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
No Result
View All Result
IAG
No Result
View All Result

Cost controls, high hold helps Wynn Macau Ltd continue recovery in 1Q21 as loss narrows to US$75 million

Ben Blaschke by Ben Blaschke
Tue 11 May 2021 at 04:58
Wynn announces pricing of senior notes, expects to raise almost US$850 million

Wynn Macau

43
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

Wynn Macau Ltd continued to show steady progress in its recovery from the impact of the COVID-19 pandemic in 1Q21, with operating loss narrowing and revenues and EBITDA rising compared with the previous quarter – driven by the performance of Wynn Palace.

The Macau results formed part of parent company Wynn Resorts’ first quarter earnings release issued early Tuesday (Asia time), with group-wide revenues falling 23.9% year-on-year to US$$725.8 million but improved from revenues of US$686.0 million in 4Q20.

Likewise Macau operations, comprising Wynn Palace in Cotai and Wynn Macau on the peninsula, saw operating revenues down 14.7% year-on-year but up 3.4% quarter-on-quarter to US$417 million.

Adjusted EBITDA increased from US$39.4 million in 4Q20 to US$43.9 million – also well above the US$29.4 million achieved in 1Q20 – while loss narrowed from US$111.3 million in Q4 to US$75.0 million. Tight cost controls and high hold in the premium segments were credited for adding between US$10 million and US$15 million in Adjusted EBITDA for the quarter.

At Wynn Palace, operating revenues grew from US$221.5 million in 4Q20 to US$237.3 million in 1Q21 although Adjusted Property EBITDA fell very slightly to US$27.4 million

VIP table games win of US$96.5 million was aided by a high win rate of 4.38%, while mass market table games win exceeded the first quarter of 2020 at US$131.6 million.

At Wynn Macau, operating revenues of US$179.7 million were below the US$181.9 million achieved in 4Q20 although Adjusted EBITDA was considerably higher at US$16.6 million versus US$10.7 million in Q4.

VIP table games win was down 52.2% on 1Q20 to US$58.6 million and mass table win down 10.8% to US$105.2 million

“Our first quarter results reflect continued progress in our business as consumers began to once again travel to their favorite leisure and gaming destinations,” said Wynn Resorts CEO Matt Maddox.

“In Macau, we experienced continued gradual improvement in visitation trends driving particular strength in premium mass casino and luxury retail.”

Maddox noted that customer volumes, particularly in the mass and premium segments, had shown considerable strength in March and continued since through April and May.

RelatedPosts

China’s Ambassador to the United States Xie Feng Meets with Wynn CEO Craig Billings

China’s Ambassador to the United States Xie Feng Meets with Wynn CEO Craig Billings

Thu 19 Jun 2025 at 19:54
Landmark chair says satellite casino closures have already led to lease terminations in surrounding area

Landmark chair says satellite casino closures have already led to lease terminations in surrounding area

Wed 18 Jun 2025 at 14:07
Macau GGR hits MOP$19.8 billion in August, up 6% month-on-month

Three Macau concessionaires hold job fairs for displaced satellite casino employees

Tue 17 Jun 2025 at 19:35
Sub-concessions axed, license terms amended as Macau government reveals draft revisions to gaming law

Five Middle Eastern countries granted visa-free entry to Macau from next month

Mon 16 Jun 2025 at 19:33
Load More
Tags: covid-19MacauMatt MaddoxPremium MassVIPWynn MacauWynn Palace
Share17Share3
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 – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

China’s Ambassador to the United States Xie Feng Meets with Wynn CEO Craig Billings

China’s Ambassador to the United States Xie Feng Meets with Wynn CEO Craig Billings

by Newsdesk
Thu 19 Jun 2025 at 19:54

Wynn Resorts CEO Craig Billings met this week with the Chinese Ambassador to the United States, Xie Feng, to discuss topics including China’s economic development and Sino–U.S. economic and trade relations. The Chinese Embassy in the United States released details...

1xBet reviews DreamLeague Season 26 esports tournament results

1xBet reviews DreamLeague Season 26 esports tournament results

by Newsdesk
Thu 19 Jun 2025 at 12:50

From 19 May to 1 June , the prestigious Tier 1 Dota 2 tournament was held online, boasting a solid prize pool of US$1 million. It was also the last ESL event before the start of the 2025 Esports World...

PAGCOR’s Alejandro Tengco

New luxury hotel with VIP gaming to be built at Manila’s Newport World Resorts as parent AGI outlines latest capital investments

by Ben Blaschke
Thu 19 Jun 2025 at 12:29

Philippine conglomerate Alliance Global Group (AGI) has announced it will allocate approximately Php5 billion (US$87.2 million) over the next year for expansion projects under its gaming and leisure subsidiary, Travellers International. This includes the development of a new luxury hotel...

FBM hosts “A Drop of Blood is a Gift of Life” blood donation drive in the Philippines

FBM hosts “A Drop of Blood is a Gift of Life” blood donation drive in the Philippines

by Newsdesk
Thu 19 Jun 2025 at 06:16

FBM Foundation – the charitable arm of gaming supplier FBM – celebrated World Blood Donor Day on 14 June by hosting a blood donation drive in Pasig City, Philippines, in partnership with Philippine Red Cross. The blood drive, titled “A...



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

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
  • 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