Wynn Macau

Wynn Macau profits slump 18pc

Macau’s casinos are in their pre-Lunar New Year business dip and missed analysts’ forecasts for January revenue growth. Photo: Bloomberg

Wynn's net profit fell to US$196.8 million from US$239.9 million while its competitors Sands China and Galaxy Entertainment saw their profits surge in the quarter on the back of expansion on the Cotai Strip.

Saturday, 2 February, 2013, 4:56am

Profits dip as The VIPs pull back

The money is on bigger dividends from the operators including Sands, after Wynn in Las Vegas declared a US$8 a share payout. Photo: AFP

Casino operator Wynn Macau yesterday reported a drop in third-quarter profit, deepening the gloomy outlook for Macau's gaming industry.

The casino operator's quarterly profit fell 3.1 per cent to US$203.3 million, with the lucrative VIP segment shrinking 12.1 per cent as high rollers pulled back.

26 Oct 2012 - 2:50am

Okada asks judge to restore Wynn shareholder rights

Japanese pachinko billionaire Kazuo Okada asked a federal court in the United States to restore his rights as the largest shareholder of Wynn Resorts, and to halt an 'unlawful' bid by Wynn chief executive Steve Wynn to remove him from the board.

16 Jun 2012 - 12:00am

Wynn's profits rise but game plan is for Cotai

Wynn Macau, the Hong Kong-listed unit of Las Vegas casino mogul Steve Wynn, posted a 10 per cent year-on-year increase in first-quarter profit to US$209 million.

But one analyst says the company, which has a resort on the Macau peninsula, will continue to lose business to casinos on Macau's Cotai Strip until Wynn opens its own gaming house there.

9 May 2012 - 12:00am

A good week for ...

Steve Wynn

6 May 2012 - 12:00am

Go-ahead for Wynn Cotai casino

Casino developer and operator Wynn Macau, a unit of billionaire Steve Wynn's Las Vegas company, says it has received the green light on land for a casino in the Cotai district of Macau. It will be Wynn's second resort in the world's largest and most lucrative gaming hub.

3 May 2012 - 12:00am

Wynn Macau falls despite profit rise

Wynn Macau has reported a 15 per cent rise in fourth-quarter profit, but the casino group's full-year profit missed market expectations.

Shares of the Asian unit of casino giant Wynn Resorts dropped 2.4 per cent to HK$20.3 yesterday, while the benchmark Hang Seng Index was flat, edging up 0.08 per cent.

4 Feb 2012 - 12:00am

Wynn vows to fight suit filed by major shareholder

Casino operator Wynn Resorts fired back at its largest shareholder, calling a lawsuit filed against the company by Japanese pachinko billionaire Kazuo Okada 'preposterous'.

Okada, a director of the company and its biggest shareholder with a 20 per cent stake, is a long-time business partner of Las Vegas gaming magnate Steve Wynn.

14 Jan 2012 - 12:00am

Wynn's Cotai deal could boost rivals, too

Macau casino developers including SJM Holdings and MGM China may finally secure rights to build on the Cotai strip after rival Wynn Macau said yesterday it had received a long-awaited Cotai land grant for a new casino resort project.

13 Sep 2011 - 12:00am

Wynn defies bottom line with US$135m donation

Who says Hong Kong investors only care about profit?

Shareholders in casino operator Wynn Macau swallowed a 9.2 per cent drop in second-quarter net profit after the company's board decided to make a massive US$135 million donation to the University of Macau Development Foundation.

20 Jul 2011 - 12:00am

Who's the winner in Wynn-Wing situation?

Chinese-language financial websites carried the surprising news yesterday that shares in Wing Lei - the Cantonese name for Wynn - had soared as much as 90 per cent.

The headlines suggested a scorching debut for casino operator Wynn Macau's HK$12.6 billion listing on the Hong Kong stock market.

9 Oct 2009 - 12:00am

Wynn out to win over MICE

The five-star hotel Wynn Macau is committed to the continued development of Macau as a tourism, and meetings, incentives, conventions and exhibitions (MICE) destination.

Among the four segments of MICE at Wynn Macau, 'meetings' tops the list with 'incentives' as the second most popular.

19 Sep 2008 - 12:00am

Dore invests HK$2b in VIP gaming firms

Macau casino junket investor Dore Holdings has agreed to pay HK$2.01 billion for two holding companies that receive commission on VIP gambling chip sales to high rollers at the Wynn Macau.

26 Jun 2008 - 12:00am

Wynn Macau earnings rise 63.8pc to US$129m

Winning streak offsets Las Vegas weakness

Billionaire Steve Wynn's Wynn Macau casino-hotel unit beat cut-throat competition to report blockbuster results during the first three months of the year, a day after rival Las Vegas Sands Corp, the developer and operator of Sands Macao and Venetian Macao, disclosed a first-quarter loss.

3 May 2008 - 12:00am

travellers' checks

Take to the Hills

12 Aug 2007 - 12:00am