Win’s Net Profit Declines; Shining Light in the Future

Analysts say Wynn Resorts’ second-quarter numbers took a hit, but the announcement of a solid opening date for Wynn Palace on Kotai Street made things brighter.

Win Macao’s second-quarter earnings this year mostly fell short of analysts’ expectations as its full-year earnings before taxes, interest, amortization and depreciation plunged 44%. Analysts say the lower-than-expected holding rate in the bulk market game is attributed to the lower-than-expected rate. Wells Fargo analyst Cameron McKnight said: “The company continues to see margins shrink as it bears excess operating costs (especially labor) against the opening of Cotai Win Palace.”

Macau casino gaming revenue in June improved slightly from what analysts and local governments both predicted, but hit a near five-year low. Total gaming revenue for June fell to MOP 17.4b (US$2.2 billion), according to figures released on Wednesday by the Macau Game Inspection and Coordination Bureau (DICJ). The figure represents a 36.2% year-over-year decline and the lowest monthly gross since November 2010. The 13-month decline extends Macau’s sales loss in June, but the decline has slowed slightly every month since February, when it posted a record 48.6% shortfall. The figures still don’t look promising, as Macau has fallen 37% year-on-year to date.

A planned $4 billion resort in Macau’s Cotai Strip and Wynn Palace will open in the first half of 2016 as the government agrees to a final labor request from companies.


One response to “Win’s Net Profit Declines; Shining Light in the Future”

  1. I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.

Leave a Reply

Your email address will not be published. Required fields are marked *