Wynn Resorts has reported mixed results from its Macau operations in the three months to 31 December 2018, with Wynn Palace leading the company into the black with a 12.8% revenue increase to US$740.6 million while Wynn Macau saw revenue fall 5.2% to US$553.4 million.
Casino revenues from Wynn Palace were US$636.9 million in 4Q18, up 12.3% year-on-year, led primarily by an improved performance in the mass market and higher win rate in VIP.
VIP turnover was flat for the period at US$16.16, although win rate increased from 3.02% in 4Q17 to 3.25%. On the other hand, mass table drop increased 15.6% to US$1.3 billion, resulting in a 16.2% increase in mass table win to US$307.4 million. Slot machine handle also increased 9.9% to US$920.6 million with win of US$57.6 million, while non-gaming revenues climbed 15.7% to US$103.6 million.
Adjusted Property EBITDA from Wynn Palace was US$226.6 million for the fourth quarter of 2018, a 19.2% increase from US$190.1 million for the same period of 2017.
At Wynn Macau, revenue was down on the back of a substantial 18.2% decrease in VIP turnover to US$12.78 billion, which compared with turnover of US$15.62 billion in 4Q17.
Mass table drop at Wynn Macau held steady at US$1.26 billion although better luck saw an 11.2% increase in mass GGR to US$255.7 million. Slot machine handle fell 6.3% to US$878.4 million but slot win grew 8.8% to US$44.4 million, while non-gaming revenues remained flat at US$74.4 million.
Wynn Macau’s Adjusted Property EBITDA declined 9.9% to US$167.6 million.
Company-wide revenue for Wynn Resorts rose 4.0% in 4Q18 to US$1.69 billion thanks to the US$84 million increase in GGR at Wynn Palace and a US$11.7 million improvement in Las Vegas operations.
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