Shortly after MGM China declared a FY23 Special Dividend on Thursday – becoming just the second of Macau’s concessionaires to do so post-COVID – Wynn Macau Ltd revealed its Board of Directors has also recommended a final dividend for the year ended 31 December 2023.
The HK$0.075 final dividend, which remains subject to shareholder approval, comes with Wynn Macau reporting Thursday a HK$1.17 billion (US$150 million) profit for the year, reversing a HK$7.35 billion (US$940 million) loss in 2022. This, the company added, came on the back of operating revenues of HK$24.3 billion (US$3.11 billion), which included casino revenues of HK$19.1 billion (US$2.44 billion), with Adjusted EBITDA of HK$6.62 billion (US$846 million).
The resumption of dividends comes barely a month after Wynn Macau’s senior leadership said the company was “looking very closely” at its capital return policy. They did not, however, reveal at the time that such resumption was imminent, with CEO Craig Billings telling analysts lthe company was still focused on stabilizing its balance sheets with EBITDA leverage lingering around 7x at end-2023.
Galaxy Entertainment Group was the first of Macau’s concessionaires to resume dividend payments post-COVID and the only to declare an interim dividend in 2023.
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