• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 8 July 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
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
No Result
View All Result
IAG
No Result
View All Result

Wynn Palace leading Wynn’s recovery due to player mix, peninsula renovations

Ben Blaschke by Ben Blaschke
Wed 10 May 2023 at 06:36
Sands China, Wynn Macau most likely to be impacted by dividend permission requirement: Credit Suisse

Wynn Palace

40
SHARES
1k
VIEWS
Print Friendly, PDF & Email

Wynn Resorts saw its Macau operations roar back to profit in Q1, with the recovery primarily driven by a significant uptick in volume at its flagship Cotai property Wynn Palace.

Addressing investors during the company’s earnings call on Wednesday morning (Asia time), Wynn Resorts CEO Craig Billings noted the “disproportionate” volume of play returning to Wynn Palace as compared with Wynn Macau over the past few months – a trend he expects to continue at least in the short-term.

This, he explained, was largely driven by the current player mix, with rated players returning faster than non-rated and tour groups, although ongoing capex work at Wynn Macau during the March quarter also impacted those results. Wynn reported casinos revenues of US$270.7 million at Wynn Palace in Q1 compared with US$176.4 on the peninsula.

“Wynn Palace is certainly leading the charge between our two properties as the market comes back and there are two factors at play,” Billings explained.

“Everyone who follows Macau closely knows that GGR and visitation were somewhat disconnected in the initial wave (post re-opening on 8 January) in that you had a lot of dedicated players come back. Most were rated players and they weren’t coming with tour groups, they were coming as individual visitors and they disproportionately, in our business at least, ended up at Cotai. Wynn Macau historically has been more exposed to the tour group business and general unrated business, so I’m not surprised that Wynn Palace led Wynn Macau.

“The second point is that there are a number of changes we are making to Wynn Macau. The property needs to be refreshed and we are making those changes now. We started those in Q1 including some pretty significant refreshment to the east casino, which interrupted a significant numbers of pits which were effectively closed during the quarter. That also had an impact.

“As the mass market continues to recover, as more unrated play comes back to the market and more tour groups, then we’ll get the natural benefit downtown but in the interim I would expect Palace to lead Wynn Macau.”

While Billings said the impact of upgrade works on Wynn Macau, which have now moved to the property’s premium gaming salons, would be finished within the current quarter, he revealed that group-wide numbers for Wynn Macau Ltd were already showing particular strength through April and into May.

This, he said, included mass table drop during the recent May Day Golden Week holiday increasing 10% over the same holiday period in 2019, direct VIP turnover more than doubling 2019 levels – albeit aided by the move away from junkets – and tenant retail sales rising 36% over the same period four years ago.

Asked about the company’s commitment to spend MOP$16.5 billion on non-gaming investments as part of its new 10-year concession, Billings said, “We are deep into design and planning for our concession related capex commitments which we believe will help support Macau’s long-term diversification goals and be additive to our business.”

RelatedPosts

Industry gathers for milestone Macau After Dark at Vasco – Bar and Lounge as MAD concept celebrates 30th edition

Industry gathers for milestone Macau After Dark at Vasco – Bar and Lounge as MAD concept celebrates 30th edition

Tue 8 Jul 2025 at 05:57
Macau GGR hits MOP$19.8 billion in August, up 6% month-on-month

Citi: Hot July start for Macau gaming revenues as concert culture maintains momentum

Mon 7 Jul 2025 at 18:50
Macau planning to ban all forms of advertising for gambling activities

Macau planning to ban all forms of advertising for gambling activities

Fri 4 Jul 2025 at 15:04
Jeju Dream Tower casino sales down 7.4% in March

South Korea’s foreigner-only casinos showing renewed vigor as Jeju Dream Tower sets new monthly drop, visitor records

Thu 3 Jul 2025 at 05:41
Load More
Tags: casinoCraig BillingsGamingMacauWynn MacauWynn Palace
Share16Share3
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 – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Philippines President Marcos open to stricter online gambling regulations if “well-studied”

Philippines President Marcos open to stricter online gambling regulations if “well-studied”

by Newsdesk
Tue 8 Jul 2025 at 06:21

Philippines President Ferdinand Marcos Jr has expressed cautious support for calls to impose stricter regulations on the growing eGames – or domestic online gaming – sector, provided any such restrictions are based on factual studies. According to state-run Philippine News...

Industry gathers for milestone Macau After Dark at Vasco – Bar and Lounge as MAD concept celebrates 30th edition

Industry gathers for milestone Macau After Dark at Vasco – Bar and Lounge as MAD concept celebrates 30th edition

by Newsdesk
Tue 8 Jul 2025 at 05:57

Around 100 industry guests came together at Artyzen Grand Lapa Macau’s sophisticated Vasco – Bar and Lounge on Monday night to celebrate the latest edition of regular social networking event Macau After Dark (MAD). This was the 30th edition of...

IGT, Scientific Games help boost AGEM Index in December

Konami, Aristocrat lead strong gain for AGEM Index in June

by Newsdesk
Tue 8 Jul 2025 at 05:44

The AGEM Index – a monthly stock performance guide comprising 12 global gaming suppliers – grew by 9.3 % month-on-month or 162.11 points to 1,903.29 points in June, with Konami and Aristocrat seeing the largest positive contributions. The index was...

FBM Philippines kicks-off new “Rain or Shine, It’s Game Time” promotion this week

FBM Philippines kicks-off new “Rain or Shine, It’s Game Time” promotion this week

by Newsdesk
Tue 8 Jul 2025 at 05:43

CLIENT PROMOTION FBM is turning the excitement up with the “Rain or Shine, It’s Game Time” promotion! This campaign levels off to maintain the excitement of the rainy season in the Philippines, taking place from 1 July to 2 August....



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

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
  • 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.

  • English