Gaming

Wynn Macau reduces losses in Q1

Tuesday 11 de May 2021 / 08:11

⏱ 1 min read

(Macau).- Gambling operator Wynn Macau managed to reduce its operating losses to US$75 million in the first quarter of 2021, as local visitation increases and expenses were reduced.

The group’s Wynn Macau and Wynn Palace generated some US$417 million in operating revenues for the first three months of the year, a 3.4 per cent quarter-to-quarter uptick, while property EBITDA was up 11 per cent to US$44 million.

“Our first-quarter results reflect continued progress in the business as consumers once again travel to their favourite leisure and gaming destinations […] In Macau, we saw steady gradual improvements in the trend of visits, particularly reinforcing the‘ premium ’segment of the mass market in casinos, as well as in the luxury segment,” the group’s CEO, Matt Maddox, indicated in the financial report.

As of March 31, 2021, Wynn Macau had total cash and cash equivalents, excluding restricted cash, of US$2.8 billion, and over US$1.1 billion in revolving credit facilities.

Categoría:Gaming

Tags: Sin tags

País: Macao

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