Macau concessionaire Wynn Macau Ltd has confirmed its return to profit in the six months to 30 June 2023, recording a net profit attributable to owners of the company of HK$87.5 million (US$11.2 million). The result compared with a net loss of HK$3.60 billion (US$460 million) a year earlier.
Publication of the concessionaire’s interim results for 1H23 comes a week after parent company Wynn Resorts released its results for the June quarter, with the US-based firm seeing group-wide revenues climb 75.6% to US$1.60 billion (US$204 million) in Q2 thanks largely to the Macau recovery story.
In a Thursday filing, Wynn Macau said its casino revenues at its two Macau integrated resorts, Wynn Macau on the peninsula and Wynn Palace in Cotai, grew by 272% year-on-year in H1 to HK$8.27 billion (US$1.06 billion), representing 77% of total operating revenues.
These, it added, included a 356% increase in VIP table games win to HK$2.20 billion (US$281 million), 259% increase in mass table games win to HK$7.46 billion (US$953 million) and 146% increase in slot machine win to HK$664.2 million (US$84.8 million).
Non-casino revenues, including rooms, food and beverage, retail and other revenues, increased by 140% to HK$2.47 billion (US$315 million).
Adjusted EBITDA of HK$2.76 billion (US$352 million) also reversed an Adjusted EBITDA loss of HK$873.1 million (US$112 million) in the first half of 2022.
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