Wynn Macau Ltd continued its rapid post-pandemic recovery in the June 2023 quarter, reporting consolidated income of US$127.5 million – up 171% over Q1 and reversing a US$181.2 million loss in the same period last year.
Adjusted Property EBITDAR of US$246.2 million was also 58% higher sequentially, according to figures from parent company Wynn Resorts Ltd.
Cotai property Wynn Palace led the way for Wynn Macau Ltd, with operating revenues of US$468.4 million including casino revenue of US$365.3 million – up 1,243% year-on-year. Mass table games win was US$305.8 million, VIP table games win US$129.0 million and slot machine win US$27.6 million, while Adjusted Property EBITDAR of US$156.6 million reversed a US$50.0 million loss in 2Q22.
At peninsula property Wynn Macau, operating revenues of US$301.6 million included casino revenue of US$243.0 million, up 508% year-on-year. This included mass table games win of US$216.4 million, VIP table games win of US$57.8 million and slot machine win of US$15.5 million, Adjusted Property EBITDAR was US$89.6 million, reversing a US$40.4 million loss in 2Q22.
With Macau firing again, Wynn Resorts reported group-wide operating revenues of US$1.60 billion, representing a 75.6% year-on-year increase. Net income of US$105.2 million reversed a US$130.1 million loss in 2Q22 while Adjusted Property EBITDAR of US$524.5 million was up 193% year-on-year and 22.1% on 1Q23.
“Our second quarter results reflect continued strength in North America and Macau,” said Wynn Resorts CEO, Craig Billings.
“In the US, Wynn Las Vegas and Encore Boston Harbor continue to perform well, generating a new second quarter record for Adjusted Property EBITDAR at our combined North American properties. In Macau, the post-COVID recovery accelerated during the quarter, with particular strength in our mass gaming, luxury retail and hotel businesses.”
Wynn Resorts said it has declared a cash dividend of US$0.25 per share, payable to stockholders on 31 August 2023.
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