Wynn Resorts reported operating revenue of $686m for Q4, an almost 59% decline from $1.65bn recorded for the same period in 2019.<\/p>\n
Net loss was $269.5m, a sharp increase from a net loss of $72.9 the previous year. Adjusted property EBITDA for Q4 was $69.8m, against $443.1m in 2019. Operating revenues for the year 2020 were $2.1bn, a 68% drop compared to $6.6bn in 2019.<\/p>\n
Total Macau operations reported adjusted property EBITDA of $39.4m. Operating revenues from Wynn Palace were $221.5m, while Wynn Macau reported $181.9 for Q4.<\/p>\n
Operating losses in Macau for Q4 were $74.3m, a drop from positive $207.9m reported for Q4 2019, but an improvement from the $216m loss recorded in Q3 2020. For the year that ended on 31 December, Macau operations reported an operating loss of $704m.<\/p>\n
Wynn Resorts CEO Matt Maddox said: \"We are encouraged by the progress we have made at each of our properties over the past several months, as we continue along the road to recovery from the pandemic.\"<\/p>\n
He noted that the easing of visitation restrictions and the strength of premium mass business in Macau helped with Adjusted property EBITDA profitability. Operations in the US remain cost-focused, with the further development of WynnBet online casino and sports betting app.<\/p>\n
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Wynn Resorts reports 59% Q4 revenue drop; huge losses in Macau - Gambling Insider - In-depth Analysis for the Gaming Industry<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Wynn Resorts reported operating revenue of $686m for Q4, an almost 59% decline from $1.65bn recorded for the same period in 2019. Continue reading