Strength in Macau paces Wynn Resorts again


Wynn Resorts (WYNN) reports revenue from Macau operations rose 14.2% Y/Y to $1.13B in Q1 to help offset a 1.5% slip in Las Vegas revenue to $381M.

Adjusted property EBITDA was $384M for Macau and $110M for Las Vegas during the period.

REVPAR rose 11.8% to $331 in Macau and 6.2% to $259 in Las Vegas.

WYNN +1.6% AH to $210.00

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Comments (3)
  • wmateri
    , contributor
    Comments (578) | Send Message
     
    Interesting piece I read recently about how gambling establishments in Macau are being used by wealthy Chinese to get their money out of the PRC. While there are limitations on money transfers, if money is sent out to pay legitimate debts (including gambling debts) that's okay. So, apparently people arrange to lose big at the tables (that's not hard) and then are given their money back by the club, in return for a good-sized fee of course. How long before this activity is heavily investigated by China is anyone's guess. Until then, party on!
    1 May 2014, 04:36 PM Reply Like
  • duhaus
    , contributor
    Comments (320) | Send Message
     
    If that's true I would bet (pun intended) not very long. If you found the article to read I guarantee the Chinese have also, they're not dumb.
    1 May 2014, 09:02 PM Reply Like
  • Simchad
    , contributor
    Comments (106) | Send Message
     
    Great quarter. Congratulations . I wonder how much more can the squeeze out of these gamblers. I guess it pays to deal in vice.
    1 May 2014, 04:57 PM Reply Like
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