Macau and casino operator Win Macau Limited reportedly reported unaudited financial results for the third quarter, which showed operating loss rose by 55.8% year-over-year to just over $95.3 million.
Inside Asian Gaming, mainly due to the temporary implementation of a series of strict coronavirus-related travel measures that severely impeded visits throughout September and October. Sources detailed that while the tally was 365% higher than the roughly $67 million recorded in the same period , the challenging conditions experienced over the three-month cycle further reflected the casino company’s operating income, which fell 31.3% to $311.9 million.
Win Macao Limited is responsible for the 1,000-room Win Macao and larger Win Palace Co-Tai venues, with adjusted third-quarter earnings reportedly up 110.7% year-over-year to $12.1 million. The Hong Kong-listed company also said it held cash and equivalents at the end of September and had long-term debt of about $5.7 billion.
Regarding Wyn Macau Limited, which is 72% owned by Las Vegas-based casino giant Wynn Resorts Limited, it said the Wynn Macau firm’s third-quarter operating income fell nearly 29% sequentially as adjusted earnings before interest, tax, depreciation and amortization lost $1.9 million. The operator explained that the 1,700-room Win Palace Co-Tai venue was more resilient as it improved by more than 1,000% year-over-year to $181.3 million, despite a 32.9% decline from $270.4 million in the previous quarter.
Matt Maddox, CEO of Wynn Resorts Limited, is the CEO of Wynn Resorts Limited, and his company reportedly reported a nearly 200% year-over-year increase in consolidated net income in the third quarter to $994.6 million. He claimed the company’s gambling-friendly facility in Las Vegas reportedly grossed about $476 million over a three-month period, but the development of the port of Angkor Boston contributed another $192.2 million.
“We are pleased to provide record real estate earnings before interest, tax, depreciation and amortization at both the ports of Win Las Vegas and Angkor Boston during the third quarter.