Wynn Macau's revenues dip in Q1 amid VIP slump

Wynn Macau (HKEX: 1128) reported a decrease in operating revenues for the first quarter ended March 31, 2025. The revenue decline was largely driven by its Macau Operations, specifically the Wynn Palace and Wynn Macau properties. Wynn Palace reported revenues of USD 535.9 million, down 8.7% year-over-year, while Wynn Macau’s revenues were USD 329.96 million, a 19.9% decrease. The primary drivers were lower VIP win percentage and reduced mass market table games win, plus lower average daily rates (ADR). Adjusted Property EBITDAR for Wynn Palace was USD 161.885 million and USD 90.199 million for Wynn Macau. Capital expenditures for Macau Operations totaled USD 65.589 million. Wynn Macau's board recommended a final dividend of HKD 0.185 per share, subject to shareholder approval.