Wynn Macau Ltd has inked new Intellectual Property License Agreements with its parent company, Wynn Resorts Ltd, under which it will pay a maximum US$150 million for the use of its intellectual property during the 12-month period to 31 December 2025.
The agreement – revised upwards from the US$140 million Wynn Macau Ltd has paid in 2024 – covers certain trademarks, domain names, “Wynn” related trademarks, copyrights and service marks in connection with a variety of goods and services.
According to details outlined in a Monday filing, the 2025 annual cap was determined after arm’s length negotiations between the parties with reference to the formula used to make such calculations, the historical amounts paid by the group for the licensing of Wynn’s Ips and the anticipated business and financial performance of the group for the year ending 31 December 2025.
The agreed amount also represents a significant increase since the COVID-effected years, which saw the amount paid by Wynn Macau Ltd reach just US$25.2 million in 2022, rising to US$98.4 million in 2023 and US$140 million this year.
Wynn Macau recently reported total operating revenues of US$871.7 million in the three months to 30 September 2024, up 6.3% year-on-year but down 1.5% compared with the June quarter.
