HONG KONG: Wynn Macau reported today earnings before interest, taxes, depreciation and amortization fell by 33.6 percent to US$160.1 million in the fourth quarter ended December 31, from US$241.2 million in the fourth quarter of 2014.
Revenues fell by 27 percent to US$555.7 million for the fourth quarter, compared with the US$761.2 million in the comparable quarter of 2014.
Net profit for the quarter was US$63.54 million compared with US$139.69 million in the comparable quarter of 2014.
Table games turnover in the VIP segment was US$13 billion for the fourth quarter, down by 36.9 percent compared with US$20.7 billion in the fourth quarter of 2014, the company announced.
VIP table games win as a percentage of turnover (calculated before commissions)
for the quarter was 2.60 percent, below the expected range of 2.7 percent to 3 percent and below the 2.80 percent in the fourth quarter of 2014.
The average number of VIP tables fell to 192 units in the fourth quarter from 244 units in the prior year’s fourth quarter, Wynn Macau reported.
Table games win in the mass market segment fell by 8.2 percent to US$228.6 million in the fourth quarter.
The mass market win percentage of 19.3 percent in the fourth quarter increased from the 18.7 percent in the fourth quarter of 2014.
Non-casino revenues, before promotional allowances, dropped by 21.2 percent during the quarter to US$75.6 million.
Occupancy at Wynn Macau was 96.3 percent, down from 98.6 percent in the
prior-year period. Revenue per available room fell by 5.2 percent to US$311 in the 2015 quarter from US$328 in last year’s fourth quarter, Wynn Macau reported.
Parent company Wynn Resorts Limited reported fourth quarter net income of US$87.2 million, compared with US$109.3 million in the fourth quarter of 2014. Net revenues fell by 25 percent to US$4.07 billion, from US$5.43 billion in 2014.
Wynn Resorts also said it had US$9.2 billion in debt, including US$4.1 billion from Wynn Macau and US$3.2 billion from Wynn Las Vegas.
