The Macau operations of US-based casino giant Wynn Resorts Ltd saw operating income reach US$169.8 million in the three months to 31 December 2023, up 33.6% on the September quarter and reversing a US$181.3 million loss for the same period in 2022.
Adjusted Property EBITDAR of US$297.0 million was also 16.5% higher sequentially, aided primarily by the strong rebound in casino revenues at Macau integrated resorts Wynn Palace and Wynn Macau.
According to information released early Thursday (Asia time) by Wynn Macau Ltd’s US parent, Cotai property Wynn Palace saw operating revenues increase by 364% year-on-year to US$524.4 million, including a 506% improvement in casino revenues to US$417.3 million. This comprised a 365% improvement in mass table win to US$404.5 million and 232% improvement in slot machine win to US$27.6 million, however VIP win grew exponentially from US$1.1 million in 4Q22 to US$93.9 million. Hotel revenue was 312% higher at US$50.5 million.
Likewise, peninsula property Wynn Macau reported operating revenues of US$386.2 million – up 400% year-on-year – with casino revenues rising 524% to US$320.6 million. Mass table games win was up 444% year-on-year to US$297.7 million and slots win by 164% to US$20.8 million, while VIP win of US$125.8 million reversed a segment loss of US$35.2 million a year earlier.
Group-wide, Wynn Resorts reported operating revenues of US$1.84 billion in 4Q23, up 83.6%, with net income of US$729.2 million. Adjusted Property EBITDAR of US$630.4 million was 223% higher year-on-year.
“The strong momentum we built throughout 2023 continued during the fourth quarter with Adjusted Property EBITDAR reaching a new all-time record,” said Wynn Resorts CEO Craig Billings. “These impressive results highlight our team’s relentless focus on delivering five-star hospitality, which continues to elevate our properties above our peers as the destinations of choice for luxury guests in Las Vegas, Boston and Macau.”
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