Email: [email protected]
Address: Rua Cidade de Sintra, NAPE, Macau
Wynn Macau opened in Sept. 2006 and was extended the following year. It incorporates about 265,000 sq. ft of casino space, and two luxury hotel towers with a total of 1,008 spacious rooms and suites. The property in central Macau also has 54,200 sq.ft. of high-end retail space and eight restaurants. Other non-gaming facilities include two health clubs, spas, and pool.
President and executive director Wynn Macau
Ms. Linda Chen, is the Vice-Chairman, Chief Operating Officer and Executive Director of the Company, President and Executive Director of WRM, and President of Wynn International Marketing, Ltd..
Ms. Chen is responsible for global marketing and strategic development of Wynn Resorts, Limited. Ms. Chen is also the creator of “Wynn Care” — a corporate outreach initiative focused on social and charitable volunteer activities designed to benefit the greater Macau community. Ms. Chen was appointed as the Vice-Chairman of the Company in April 2018, has been President of WRM since March 2017, Executive Director and Chief Operating Officer of the Company since September 2009, and Chief Operating Officer of WRM since June 2002.
Ms. Chen played an integral role in the openings of Wynn Resorts, Limited’s three integrated resorts, including Wynn Las Vegas, Wynn Macau and Wynn Palace. She was also in charge of establishing Wynn International Marketing, Ltd.. She served as Director of Wynn Resorts, Limited from October 2007 to December 2012.
Prior to joining Wynn Resorts, Limited, Ms. Chen was Executive Vice President of International Marketing for MGM Mirage from June 2000 to May 2002, responsible for the global marketing development of the three integrated resorts MGM Grand, Bellagio and The Mirage.
Ms. Chen was involved in the opening of Bellagio in 1998 and served as the Executive Vice President of International Marketing. Prior to that, she was part of the opening team for the MGM Grand in 1993 and The Mirage in 1989. Currently, Ms. Chen is a member of the Nanjing Committee of the Chinese People’s Political Consultative Conference (Macau), a Director of the Macau Chamber of Commerce, and a member of the Tourism Development Committee, Government of Macao S.A.R., as well as a member of the Cultural Industries Committee, Government of Macao S.A.R..
Ms. Chen holds a Bachelor of Science Degree in Hotel Administration from Cornell University in 1989.
In partnership with the Macau SAR Government, Wynn is participating in the “Macao Week in Shanghai” roadshow from June 3 – 7.
Wynn Resorts is likely to enjoy higher margins post-Covid due to its cost-cutting efforts, but the main excitement to come from its Q1 results came from a plan to spin off its digital business, analysts say.
Wynn Resorts said it continued to experience gradual improvement in visitation trends in the first quarter of 2021 at its Macau properties, driving premium mass casino and luxury retail revenues.
Wynn Resorts said it plans to begin rolling out elements of the second phase of its expansion at Wynn Macau in the first half of this year, depending on market conditions.
Consensus estimates for Q1 earnings at Macau’s six operators may be too high, with corporate EBITDA likely to be lower than the prior quarter due to an uneven recovery and higher expenses, Morgan Stanley says.
Wynn Macau saw its casino revenues fall 82 percent in 2020 primarily due to adverse effects of the covid-19 pandemic, which saw its casinos closed in Macau for a 15-day period and subsequent reopening on a reduced basis in the year.
The final court ruling on Wynn Macau’s liability in the Dore Entertainment case could change the landscape of VIP gaming in Macau, according to gaming expert António Lobo Vilela.
Wynn Macau has announced that it is participating in the Macau government's “Macao Week in Hangzhou” roadshow from March 26 to 29 at the Hubin Pedestrian Street to showcase Macau's diverse travel experiences and commercial opportunities to locals and visitors in Hangzhou.
Wynn Macau is hosting a new edition of the "Wynn Guest Chef Series." China's leading chefs from across the country will descend upon Macau to take part in a series of fourteen events for three consecutive months.
Linda Chen, vice-chairman and executive director of Wynn Macau, led a group of 33 young team members from different departments to visit the "Base of Education of Love for Motherland and for Macau for Young People" on February 18.
Wynn Macau is offering two extra leave days to employees who are vaccinated against Covid-19.
Wynn Resorts is boasting that the Michelin Guide Hong Kong & Macau 2021 has awarded nine Michelin stars to five signature restaurants at Wynn Macau and Wynn Palace, more than its rivals.
Wynn Resorts and Nordaq have pioneered the installation of the Nordaq 2000 Refilling System, which is able to meet demand for bottled water in integrated resorts. Wynn says it's the first in Macau to adopt such a system.
Wynn Macau has announced that it has closed issuance of the US$750 million senior notes that were announced last week.
Wynn Macau has announced an additional issuance of US$750 million in senior notes that will become due in 2028. Issuance of Additional US$750,000,000 5.625% senior notes due 2028 (filing)
Wynn Macau filed a business update revealing that, for the two months of October and November, subsequent to the reopening of the IVS exit visa program to all residents of mainland China, the daily average gross gaming revenues of its operations were approximately 31 percent of its gross gaming revenues in the fourth quarter of 2019.
Wynn Macau has extended framework agreements with three wholly-owned subsidiaries of its parent firm, Wynn Resorts, that will allow it to receive a range of services from these companies.
Wynn Macau said it was granting options over 4.78 million shares to five of its non-executive directors. The subscription price was HK$13.84, above the $13.53 average price for the past five business days.
Wynn Macau has reported a net loss of MOP2.2 billion (US$281 million) for the third quarter of 2020.
Macau, which last year was given a strong bill of health when it comes to efforts to combat money laundering and financial crimes, has taken further action by signing an AML risk assessment accord with a unit of the World Bank.
Macau’s visitor tally for 2020 could see a year-on-year decline of over 90%, having already witnessed a decline of 87% in the first eight months, according to the Macau Government Tourism Organization.
Analysts hold mixed views as to whether China's plans to criminalize those jurisdictions luring its nationals to gamble will include Macau, with some concerned that the junkets at the very least might be in Beijing's crosshairs.
Macau might have an important role to play in the launch of China’s digital yuan if the city’s casinos adopt the currency instead of the Hong Kong dollar, according to analysts.
China is accelerating the launch of the digital yuan in the Greater Bay Area with a special pilot in Shenzhen.
Wynn Macau has confirmed it has postponed all major project capital expenditures for the remainder of the fiscal year 2020 in light of the COVID-19 pandemic and its risk to employees. In the first half of 2020, the company swung to a loss of HK$3.9 billion (US$490.3 million), with casino revenues down 81.8 percent and […]
Shares in Macau’s six casino operators were sharply higher Monday after the Macau government announced the long-awaited news that individual visit scheme visas would be renewed from August 12.
Daily burn rate at Wynn Macau has been around US$2 million per day, according to comments from Wynn Macau non-executive chairman Allan Zeman in an interview with CNBC. Despite record low visitation over the last few months, Zeman said that the company has not reduced its staff headcount over the last two months. “Obviously business has […]
Nine listed gaming operators in the Asia Pacific region are likely to see a plunge of about 70 percent in EBITDA this year, but all should have sufficient cash to cover basic needs for the next year, Moody’s Investors Service said.
Macau casino operator Wynn Macau has announced the issuance of US$750 million 5.5 percent senior notes due 2026. Net proceeds from the notes offering is expected to be approximately US$743.1 million, which will be used for “general corporate purposes until business recovers from the effects of the COVID-19 pandemic” and then to facilitate the repayment […]
Wynn Macau said it expects the VIP and premium segment to lead the recovery and forecasts to be able to break even on an adjusted property EBITDA basis once gross gambling revenue returns to between 45 percent and 50 percent of its prior run rate.
Hong Kong-listed Wynn Macau saw its operating revenues decrease 62.9 percent in the first quarter of 2020, due to the impact of the coronavirus, including a 15-day casino closure in Macau. Said operating revenues reached MOP397.7 million (US$49.8 million) in the quarter, compared to MOP1.1 billion in 19Q1. The company recorded a loss of MOP108.8 […]
Wynn Macau said it expects a drop of as much as 44 percent in Q1 operating revenue due to the impact of the Covid-19 pandemic and expects to continue experiencing cash burn.
MGM Resorts and Wynn Macau have identified the coronavirus outbreak as a risk to its businesses but said they are not able to quantify the full extent of its impact on results at this stage. In MGM Resorts’ annual report, filed on Thursday, the company said it is unable to predict the full extent of […]
With the COVID-19 outbreak having caused a shortage of medical supplies in many countries, Wynn today announced its donation of 1 million medical masks to the Macau government in support of the city’s epidemic prevention and control efforts. These medical facemasks have now arrived in Macau and were presented by Linda Chen, vice chairman and […]
Wynn Resorts saw its fourth-quarter results miss estimates, with operating revenues down 2 percent in 19Q4, dragged by decreasing revenues at Wynn Palace, Wynn Macau and its Las Vegas operations. The revenue results caused a net loss attributable to Wynn resorts of $72.9 million, down from income of $464.9 million in 18Q4. Wynn Palace, the […]
Macau casino operator Wynn Macau has announced a Winter Bonus eligible to all non-senior members of the team, equal to one month’s gross salary. In a press release, Wynn said the bonus is being awarded to show the company’s appreciation to all team members for their hard work and commitment during the second half of […]
Mainland police have cracked down on an online fraud group who was found running an investment scam using the name of one of Macau’s casinos, arresting seven. According to the police authority in the Guizhou province, the fraud group used social media to seek potential victims, purporting to be investment experts. They recommended victims invest […]
Wynn Macau has confirmed the issuance of $1 billion senior notes due 2029, which will be used to facilitate the repayment of a portion of the amounts outstanding under the Wynn Macau Credit Facilities, and for general corporate purposes. Wynn Macau first announced plans to conduct the notes offering on Tuesday, along with results filing […]
Casino operator Wynn Macau has announced it is preparing to conduct an offering of notes, which will be used to pay down amounts outstanding under the Wynn Macau Credit Facilities. At the moment, the aggregate principal amount, terms and conditions of the notes have not been determined, but the Wynn board said it believes it […]
Wynn Macau is likely to benefit more than other operators when it comes to the growth of the premium mass sector in Macau, according to analysts from Bernstein in a 160-page report on Wednesday. Year-to-date, VIP has declined mid-teens percentage as growth in mass has remained above 10 percent. Bernstein said it expects mass GGR […]
Wynn Resort’s Macau Q3 results were impacted by a significant drop in VIP table games turnover, which was slightly offset by an uptick in mass gaming revenue. Operating income of its Macau operations reached $156.1 million, down 39.3 percent, while adjusted property EBITDA fell 26.4 percent to $301.2 million. Wynn Resorts CEO Matt Maddox said […]
Melco Resorts & Entertainment and MGM Resorts are likely to have gained market share in Q3 as new properties ramp up, while Wynn Resorts and Galaxy Entertainment may have slipped due to their greater reliance on VIP, Bernstein analysts say.
Analysts from Bernstein on Monday said they have reduced their 2019 EBITDA estimates for Wynn Macau by 6 percent, reflecting weaker high-end volumes. Bernstein said that Wynn Macau, and Wynn Resorts have both seen a softer than originally expected Q3, due to low hold in direct VIP and overall soft high-end volumes. The analysts have […]
Wynn Resorts says it expects its Macau results in the third quarter of 2019 to be impacted by the ongoing US-China trade war and social unrest in Hong Kong. The company made the announcement in a filing to the Securities and Exchange Commission on Thursday. “Consistent with the broader Macau market, we anticipate our Macau […]
While Wynn Macau has a higher exposure to VIP than its peers in Macau, investors are neglecting the company’s strong position in the fast-growing premium mass sector, said analysts from Bernstein on Monday. “Wynn Macau has always been perceived by investors as overly exposed to VIP due to its product positioning. As such, among Macau […]
Wynn Macau says the construction of the Crystal Pavilion at its Wynn Palace on Cotai is expected to begin in late 2021.
Macau’s Court of Second Instance has overturned an earlier ruling in favor of junket operator Dore Entertainment and casino operator Wynn Macau, local media reports. In September 2015, a former cage manager working for Dore Entertainment allegedly stole more than HK$100 million, using her position in a VIP room in Wynn Macau to illegally pool […]
A Macau appeals court has upheld a ruling that sees Wynn Macau acquitted of a MOP8.2 billion (US$1 billion) compensation claim made by Japanese gaming mogul Kazuo Okada, Macau Business reports. Mr. Okada was removed from the Wynn’s board of directors in 2012 after the firm claimed he was “unsuitable” and a risk to its […]
Strong results for Wynn Palace was not enough to fully offset the total revenue decline for Wynn Resorts in 19Q1, with Wynn Macau and Las Vegas operational revenue falling in the quarter. Thd company however was able to swing to net income of $103.9 million in the first quarter of 2019, compared to a net […]
The earnings of Macau’s six operators may produce some negative surprises amidst higher staff costs, higher reinvestment rates and slowing revenue growth, Morgan Stanley forecasts.
Systemic shifts in the long-term relationship between China and the U.S. are underway, with the two economic superpowers charting an increasingly divergent path, and the change in course may have major implications for Macau’s operators, according to a leading risk consultancy.
Casino operator Wynn Macau says there has been an increase in fraudulent online gambling and investment websites posing to be affiliated with the Wynn brand. “These fraudulent websites can appear highly professional and will often feature false statements on their websites in an attempt to pass off as a legitimate business or purport to be […]
While sentiments over China’s economic slowdown and decelerating GGR growth has led to a sector-wide sell-off, Bernstein analysts believe the correction to Wynn Macau stocks was overdone, and that there is opportunity for the stock to outperform. “…the correction we have seen in Wynn Macau stock has been much too severe, in our view,” said […]
Chief financial officer and treasurer of Wynn Resorts, Craig Billings has been appointed as a non-executive director of Wynn Macau Ltd., according to an interim results filing on Friday. The appointment lasts for a period of three years, and takes effect from August 17, 2018. Mr. Billings previously serviced as chief digital officer and managing […]
Casino operator Wynn Macau has announced it is issuing a special bonus equal to one month’s gross salary to the majority of its staff members. According to a press release from the operator, the special bonus will be paid on August 15, 2018 to all eligible Wynn Macau and Wynn Palace team members, with the […]
Wynn Macau is considering adding more non-gaming facilities for the second phase of development at its Wynn Palace Cotai resort, Chairman Allan Zeman told reporters at G2E Asia. “[We are about] to explore different opportunities […] especially technology,” he was cited as saying by Macau business. “Whether it’s shows or museums there are so many […]
In a management analysis and discussion in its annual report, Wynn Macau highlighted the potential risks the company may face from the February resignation of founder and Chairman Steve Wynn following accusations of sexual harassment. “The resulting controversy related to Mr. Wynn and his separation from the group could significantly harm our business in numerous […]
Casino operator Wynn Macau has announced new maternity and paternity benefits for all eligible employees, with effect from May 1, 2018. Under the new scheme, the duration of paid maternity leave will be increased from 56 days (8 weeks) to 70 days (10 weeks), while paid paternity leave will be increased from 2 days to […]
Deutsche Bank has cut its share price target for Wynn Resorts to $215 from $221, though the firm reiterates its buy rating and says all indications point to upside from its forecasts in Macau. The model was tweaked to reflect Wynn’s recent agreement to settle a lawsuit with Universal Entertainment, the removal of the promissory […]
The Macau Court of First Appeal confirmed on Wednesday that Wynn Macau had unlawfully disclosed a former Pagcor official’s personal data without permission, Macau News reports. “The court confirmed today that the act was committed in violation of the Macau Personal Data Protection Act,” prosecution lawyer José Leitão told MNA after a Wednesday court session. […]
Shares in Macau’s gaming operators have surged 82 percent since the fourth quarter of 2016 and as a result most are overvalued, with investors failing to factor in potential risks from a cyclical economic downturn and license renewals, Morningstar warns. The firm says that Galaxy Entertainment, Wynn Macau and its parent company Wynn Resorts, Melco […]
Wynn Macau has announced a salary rise for almost 98 percent of its staff, according to a company press release on Thursday, local media reports. Eligible employees with monthly salaries below MOP16,000 (US$1,974) will see an increase in salary of 3.8 to 7.2 percent (approximately MOP600), while eligible employees with wages above MOP16,000 will get […]
Macau’s gaming regulator has expressed concern regarding recent accusations against Wynn Resorts CEO Steve Wynn, according to reports. Representatives from the Gaming Inspection and Coordination Bureau reportedly met with top executives from Wynn Macau in order to “understand the situation”, before releasing a statement on the matter. “The Gaming Inspection and Coordination Bureau expresses concerns […]
The fallout from the Wall Street Journal article regarding Wynn Resorts’ founder and CEO Steve Wynn’s alleged pattern of sexual assault has already been serious. Wynn was forced to quit his position as US Republican Party National Committee finance chair, an investigation has been launched by the Massachusetts Gaming Commission, and the company’s stock prices […]
Two suspects involved in the theft of casino chips from Wynn Macau have been arrested, Macau News reports. In a disclosure on Wednesday by the Judiciary Police, the two suspects were identified as Lei (aged 49) and his uncle Ho (aged 70). The PJ said only a small amount of the stolen chips have been […]
Macau police are searching for a dealer who reportedly stole close to HK$48 million (US$6.1 million) worth of casino chips from Wynn Macau, local media reports. The Judiciary Police confirmed the case and said an investigation is now underway to see whether there were any accomplices involved. Police confirmed that the theft did not involve […]
Outsized VIP gains and premium mass strength saw Wynn, Melco and Galaxy “significantly” outperform its Macau peers, according to Bernstein analysts in a note on Friday. Bernstein says its 2018 top picks are Melco and Wynn, with Melco’s growth driven by Morpheus at City of Dreams and continued ramp up at Studio City. Wynn will […]
A group of gaming workers from Wynn Macau have submitted a petition to the MSAR government complaining of Wynn’s alleged tolerance of clients’ illegal smoking, local media reports. Choi Kam Fu, the director-general of the Macau Gaming Enterprises Staff Association, said the group went to the chief executive to discuss “long-term infractions which have not […]
Meg-Star International on Monday unveiled its new VIP club, the Meg-Star Lian Sheng VIP Club, located at the Wynn Macau resort. The Meg-Star Lian Sheng VIP Club is the fifth VIP club opened by the company. The most recent club by Meg-star opened in April, at Wynn Palace. Thomas Pang, chief executive officer of Meg-Star […]
Capacity expansion, ramp up of recently opened properties, transportation infrastructure improvements and strength of the Chinese premium consumer should continue to push up mass over the next five years, says Bernstein in a note on Tuesday. The brokerage said it has revised its estimates for 2017E-2022E CAGR to 8 percent for Total GGR, 6 percent […]
Macau may see its best Golden Week holiday in years, with forecasts for Macau’s upcoming holiday looking very positive, according to a report from Bloomberg. “Macau’s gaming business will be strong during the Golden Week,” said Lawrence Ho, chairman and chief executive officer of Melco Resorts & Entertainment Ltd to Bloomberg. “China’s economy is improving, […]
Casino operator Wynn Macau has proposed an issuance of senior notes in order to repurchase and redeem its senior notes due 2021. In October 2013, the Wynn Macau issued 5.25 percent senior notes due 2021, representing an aggregate principal amount of US$600 million. The following year, Wynn issued an additional aggregate principal amount of US$750 […]
Hong Kong and Macau have been battered by one of the most destructive typhoons in years, forcing schools, public services and transport to halt services. According to local media, Typhoon Signal 10 was first raised in Macau at 12:30am. Since, then three people have died and two are missing as a result of Typhoon Hato. […]
Wynn Resorts’ Macau operations have posted a 57.5 percent increase in net profit for the second quarter of 2017, reaching US$102.6 million, boosted by strong revenue growth. Casino revenue reached $1 billion in the quarter, compared to US$608.4 million in 16Q2. Regarding Wynn’s two properties in Macau, Morgan Stanley analysts said the performance at the […]
Wynn and Galaxy are expected to outperform over MGM, Melco and SJM during the 17Q2 results season, driven by market share gains in both VIP and mass, says Morgan Stanley. The brokerage in a Thursday note pointed to Galaxy and Wynn Macau to be their top picks (previously Melco) due to more attractive valuation and […]
Hong Kong-listed Jimei International Entertainment Group Limited has walked away from a deal with a VIP gambling promoter in Macau, according to a company filing to the Hong Kong Stock Exchange. While Jimei did not mention the promoter, it is understood that the operator was identified as New International Club Ltd, who had been negotiating […]
Improvements in transport infrastructure along with continued opening and ramp up of new casino resorts in Macau means that Mass will continue to be the driver for sustainable growth in 2017 and the rest of the decade, say Bernstein analysts in a recent research note. As market share trends fluctuate based on mix between VIP […]
Casino operator Wynn Macau is reportedly being taken to court by a former Pagcor official, disputing the results of a 2011 report naming him and his wife as beneficiaries of an “improper relationship” between Kazuo Okada and Pagcor officials in 2008 and 2009, local media reports. According to information obtained by Macau Business Daily, Rogelio […]
Casino operator Wynn Resorts Ltd. saw an uptick in earnings and revenue in the first quarter of 2017, beating expectations, fuelled by strong performance from Wynn Palace and Las Vegas operations. Net revenues were $1.5 billion for the first quarter of 2017, an increase of 47.9 percent from $997.7 million for the same period of […]
Morgan Stanley analysts are estimating Macau property EBITDA to reach US$1.8 billion in 17Q1, representing a 20 percent year-on-year growth. March GGR grew 5 percent quarter-on-quarter and 13 percent year on year to MOP 63.5 billion (US$7.9 billion), said the brokerage in a note on Thursday. Looking at the quarter, the brokerage expects Melco Resorts […]
Casino operator Wynn Macau posted a 40 percent year-on-year decline in 2016 net profit, but posted higher revenue, driven by VIP gaming at its new Wynn Palace Resort. In a preliminary results filing to the Hong Kong Stock Exchange on Thursday, the operator reported net profit of HK$1.4 billion (US$180.2 million) for the year ended Dec. […]
Wynn Macau will raise the wages of non-management staff by between 3 percent and 6.5 percent, the company said. The change is effective from March 1 and covers nearly 98 percent of the company’s 12,400 workforce. Eligible employees earning a maximum of MOP16,000 ($2,000) per month will receive a pay increase of MOP500 per month. […]
Recent analysis of Google search data and observation of market trends suggest that Wynn Macau’s market share could rise higher than expected, notes Morgan Stanley. According to the brokerage’s AlphaWise team, there appears to be a correlation between Google searches of a particular property and its mass market share. “We have analyzed historical Google search […]
Macau’s gross gaming revenue growth is expected to moderate in March after a near 18 percent jump in February that topped expectations, analysts say. Buckingham Research Group says it sees March GGR growth in a range of 10 percent to 12 percent, while Bernstein is expecting a range of 9 percent to 11 percent. Buckingham […]
Wynn Resorts has reported a 30.5 percent year-on-year rise in net income for the fourth quarter of 2016, attributed to strong revenue from Wynn Palace, and offset by decreased earnings from Wynn Macau. According to a filing from the operator on Friday, net revenues for the fourth quarter of 2016 was $1.3 billion, representing an […]
Japanese and Macau gaming related stocks on Monday saw an upswing in share price after Japan’s casino bill passed a Lower House committee on Friday, according to media reports. Michael Penn of Shingetsu News Agency speaking to AGB maintains that the LDP and Isshin are still expected to pass the Casino Bill through House of […]
The Macau government is planning to introduce a bill that would require visitors to disclose cash holdings of more than MOP 120,000 (US$15,000) at entry, local media reports. Executive Council spokesman Leong Heng Teng said the measure would help to prevent money-laundering activities in the city. He made the comments when introducing the bill at […]
Casino operators Wynn Macau Ltd. and MGM China Holdings Ltd. have launched a joint shuttle bus service connecting passengers between the Border Gate, Wynn Macau and MGM Macau. The service, which launched on Thursday, was in “response to the Macau SAR government’s transport integration arrangement,” according to the operators in a joint press release on […]
Macau’s gross gaming revenue in 16Q4 is forecast to hit +7 percent year-on-year, as new projects continue to ramp up, said Bernstein in a note on Monday. GGR results in 16Q3 reaffirmed the view that the sector’s profitability had finally returned to growth, said the brokerage. “…late spring finally brought growth in mass and more […]
Wynn Macau has announced the appointment of Ian Michael Coughlan as president of the company, effective immediately. The operator said Coughlan has been and will remain president of Wynn Resorts (Macau) S.A. and a member of the board of directors of the company as an executive director, positions he has held since July 2007 and […]
Hotel room rates dropped 12.2 percent year-on-year in August, but occupancy rates rose 4.4 percent in the month, according to the Macau Government Tourism Office (MGTO). Average hotel occupancy was strong, reaching 92.6 percent, up 4.4 percentage points compared to 88.2 percent in August 2015. 5-star hotels saw the highest growth in occupancy in the […]
Fitch’s Alex Bumazhny said that the firm is projecting approximately a 5 percent decline in Macau gaming revenue for 2016. Year-to-date revenues are down 9.1 percent, but there are softer year-on-year comparisons ahead, plus the market should get a boost from the Wynn Palace and The Parisian openings, Bumazhny, Fitch’s senior director, corporate ratings – […]
The Macau government may have already surpassed the number of gaming tables it had planned to allocate by the end of 2017, according to analysts at Daiwa. Given the government’s three percent cap on gaming table growth, and looking at the number of gaming tables allocated so far, the analyst believes that the maximum number […]
Wynn Palace’s cannibalization of its Peninsula casino’s premium mass and VIP businesses is underestimated, said brokerage Morgan Stanley in a note on Sunday. In its recent Macau trip, the brokerage said it was also concerned with the ramp up of Wynn Palace, which could be slower than expected due to slow market growth and a […]
Wynn Macau has been named a defendant in the Macau Court of First Instance by individuals who claim to be investors in or person with credit in accounts maintained by junket operator Dore Entertainment Company Limited. In an interim results filing for 16H1, Wynn Macau said the lawsuits are in connection with the alleged theft […]
Casino operator Wynn Macau has reported a decline in profit attributable to owners, down 20.6 percent year-on-year, according to its interim results for the six months ended June 30, 2016. In its filing, the company posted profit attributable to owners at HK$1.1 billion. According to Wynn Macau, the decrease was “primarily due to lower gaming […]
Macau’s Secretary for Economy and Finance, Lionel Leong, today announced that the government will allocate 150 tables to Wynn Macau for Wynn Palace which is due to open on Aug. 22 this year. It will then be allocated 25 more tables next January and another 25 tables on January 1, 2018. This amounts to a […]
Analysts have warned against over-enthusiasm for Macau casinos, after short-term rallies were observed in the sector. Morgan Stanley’s Praveen Choudhary said the short-term rallies seen in the sector over the past three days were “unsustainable, as fundamentals have not improved”. Sands China saw its shares rise 6 percent after it reported its second quarter results, […]
Gaming operator Wynn Macau has already filed its application for gaming tables and slot machines for its Wynn Palace project, said DICJ director Paulo Martins Chan. Speaking to local media on the sidelines of a forum on Sunday, Chan said his bureau was already reviewing the application. The director did not mention the number of […]
The 9th Circuit Court of Appeals has upheld the dismissal of a lawsuit against Wynn Resorts board members concerning the donation of $135 million to the University of Macau Development Foundation in 2011. The lawsuit was filed in 2012 by the Louisiana Municipal Police Employees’ Retirement System, a shareholder of Wynn Resorts. The lawsuit alleged […]
Casino operator Wynn Macau has announced it will be issuing its staff a ‘summer bonus’ on July 15, according to a press release from the company. The bonus will be equivalent to the employee’s’ monthly salary, with over 9,000 staff members eligible for the summer bonus. However, senior management for the company are not covered […]
Wynn Resorts (Macau) has entered into a purchase agreement with Wynn Design and Development to purchase the world famous Tulips Sculpture and the Amphora III. The Tulips Sculpture and the Amphora III, which have been displayed at the Wynn Las Vegas resort to this date, were acquired by the Macau subsidiary for $33 million and […]
Macau has introduced new anti-money laundering rules for its gaming industry, which have been effective since May 13, local media reports. The tightened rules come at a time when junkets and casinos are facing increased scrutiny and higher entry requirements in the region. The new measures include providing “adequate” risk management systems, keeping daily records […]
Macau’s Legislative Assembly has voted in favor of smoking lounges instead of a total smoking ban in the city’s gaming venues, local media reports. According to the chairman of the Legislative Assembly sub-committee, Chan Chak Mo, quoted by Lusa, only two members of the committee supported the implementation of a full smoking ban in the […]
Whilst Macau’s operators have employed cost mitigation and labor shifts, any further cost cutting will prove challenging given new supply and flattish revenue, said Deutsche Bank in a research report. According to the brokerage, the key to the Macau market will shift to how new supply is absorbed from an EBITDA perspective. “At present, we […]
Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) of Wynn Resorts at ‘BB’, with a ‘Stable’ Rating Outlook, according to a press release on Tuesday. “Fitch’s affirmation of WYNN and the Stable Outlook reflect our view that WYNN has a relatively clear glide path to reduce leverage to levels more commensurate with its ‘BB’ […]
Macau junket operator Gold Moon Group has reportedly ceased its operation in Wynn Macau from May 21, according to labor group Forefront of Macau Gaming (FMG). The internal notice sent from the junket to its workers was posted online by FMG, stating the closure was due to Wynn Macau’s decision to “terminate its co-operation with […]
The final winners in the Asia Gaming Awards were announced last night at a stunning Gala Dinner and Award Ceremony held at The Venetian Macao. The Asia Gaming Awards, hosted by Asia Gaming Brief in association with G2E Asia and The Innovation Group, recognized the best of the best in ten Award categories spanning the […]
Sources citing an official DICJ/Finance Department instruction have said that phone betting is likely to be banned in Macau, perhaps as early as next week. The instruction is believed to have been delivered, or will be delivered to all Macau operators. Phone betting is the practice of an agent (junket) or third party placing a […]
SJM’s Angela Leong On Kei and Wynn Macau’s Linda Chen said they believe Macau’s gaming operators’ revenue from non-gaming business will exceed 9 percent of their total income by 2020, local media reports. The comments follow from the release of Macau’s draft five-year development plan, that called for an increase in non-gaming revenue of resorts […]
Wynn Resorts Limited says it expects around a 10 percent decline in its Macau property EBITDA for Y16Q1, approximately 15 percent above analyst estimates. According to its preliminary expectations of the first quarter financial results, the casino operator says it expects net revenue to decline 14 percent year on year between $603 million to $613 […]
MGM China and Sands China were found to have the most efficient staff in their respective regions in Macau, according to a recent report from Morgan Stanley. Analysts compared all the operators based on company EBITDA to average number of staff ratio, and found that MGM China generated a higher EBITDA per person employed than […]
MGM China Holdings Limited will pay a special bonus to non-management staff, equivalent to one month’s salary, local media reports. The bonus will be paid in two installments, with the first to be paid at the end of Jan. 2016. Earlier in the month, SJM Holdings announced it will pay staff earning less than MOP […]
Combined gross gaming revenue in 15Q3 from mass market and slots in Macau was flat sequentially from 15Q2, amounting to MOP25.4 billion ($3.2 billion) and an indication of market stabilization, according to official data. Combined mass and slots GGR had previously declined sequentially every quarter since 14Q1, indicating this quarter is, according to Union Gaming […]
Wynn Resorts’ 3Q earnings missed expectations on a steep drop in revenue from its Macau operations with income from the high-roller segment falling by half. The operator said net revenues for the quarter were $996.3 million, down from $1.37 billion a year earlier and below forecasts for $1.03 billion. Net revenue in Macau was down […]
Macau casino operators are leading gains on Hong Kong’s stock market for the first time in nine months, reported Bloomberg. Citing Macquarie Investment Management and Pictet Asset Management, Bloomberg says the winning streak is temporary. MGM China Holdings, Wynn Macau. and Sands China, rose at least 20 percent in July, defying China’s stock rout and […]
Macau GGR for the month through July 5 was MOP 3.15 billion ($394 million), while the average daily rate was MOP630 million, higher than May’s rate of MOP579 million, according to Bernstein Research. Assuming ADR of MOP600 to 630 million for the remainder of this month, Bernstein estimates July GGR to be MOP18.8 to 19.5 […]
At press conference held on Tuesday May 12, 2015 in Macau, the All Asia Dealers Championship (AADC), taking place concurrently with G2E Asia 2015 and hosted by Asia Gaming Brief and Reed Exhibitions, announced the details of the competition. In all, fourteen teams, totaling over 50 Dealers, from Macau and across Asia have already confirmed […]
Junket operator Suncity Group Ltd may open its VIP gaming room in the Wynn Macau by the end of this week, Union Gaming Research Macau said. The research house wrote in a note that Suncity’s part of the casino-resort and the resort’s refurbished space for premium mass-market gaming will allow the casino operator to resume […]
The sustainability of dividends at Macau’s casino operators is likely to become a major concern for investors as earnings deteriorate at the same time as capital spending requirements ramp up due to new projects, according to a Credit Suisse report. “In light of the risk of earnings deterioration in 2015 but ongoing capex requirement for […]
Macau’s operators have stepped up their corporate social responsibility (CSR) efforts in recent years, in particular when it comes to China cultural cooperation, which may help their case when it comes to concession renewal.
Melco Resorts & Entertainment and MGM China outperformed their peers in the latest reporting season, as the ramp up of new product offerings drove growth.
Despite short-term headwinds from China’s slowing economy and trade friction with the U.S., analysts remain optimistic Macau will retain its crown as Asia’s top gaming hub.
The first of Macau’s six casino concessions expire in less than 18 months, though the operators who have invested billions in the territory still have no clarity as to how, or even if, those licenses to operate will be renewed.
Macau gaming stocks are feeling the heat from the trade war between the U.S. and China, falling to their lowest levels in a year, with some analysts cutting their growth forecasts on concern for a slowdown in China’s economy.
Macau’s gaming stocks have rebounded to trade at two-year highs, tracking the recovery in gross gaming revenue, however analysts warn against over optimism, saying growth may be nearing its peak, at least in the short term.