Wynn Macau Ltd Achieves Record Revenues of $738 Million in Q4 2023

Macau gambling operators have shown strong recovery in the region, as evidenced by the financial reports of Wynn Macau Ltd. In the fourth quarter of 2023, the company achieved total operating revenues of US$910.6 million, marking a 378.5% increase over the same period in 2022.

This growth indicates a significant rebound for the industry after the challenges posed by the COVID-19 pandemic. The company’s report also highlights an 11.1% increase in Q4 figure over the preceding quarter, further demonstrating the recovery.

Wynn Macau Ltd, a vertical of the US-based casino developer Wynn Resorts Ltd, saw record-breaking performance in the fourth quarter of 2023. The company’s adjusted EBITDAR reached almost US$297.0 million, a 16.5% increase from the third quarter, while gaming revenue rose 13.8% to reach US$737.9 million in Q4 2023.

The individual properties of Wynn Macau Ltd also contributed to this strong performance. Wynn Palace generated US$524.4 million in operating revenues and an adjusted EBITDAR of US$171.1 million. Meanwhile, Wynn Macau resort recorded operating revenues of US$386.2 million and an adjusted EBITDAR of US$125.8 million, showing significant growth from the previous quarter.

Looking at the full-year 2023 results, Wynn Macau Ltd recorded operating revenue of US$3.10 billion, a substantial increase from the previous year. The parent company, Wynn Resorts, also reported net income of US$729.2 million in 2023, attributing the increase to higher operating revenues from Macau and Las Vegas operations.

Overall, Wynn Resorts’ operating revenues for the fourth quarter of 2023 were US$1.84 billion, with adjusted property EBITDAR rising to US$630.4 million. The company’s full-year 2023 result was even more impressive, with operating revenues reaching US$6.53 billion and net income of US$730.0 million.

Based on these strong financial results, the Wynn Resorts board announced a cash dividend of US$0.25 per share, reflecting the company’s confidence in its continued success. CEO Craig Billings expressed optimism, stating that the strong momentum seen throughout 2023 culminated in reaching a new all-time record for adjusted property EBITDAR.