Wynn Macau Q1 net profit plunges to US$111.6 mln

2015/4/29

From:Macau Business

Gaming company’s net revenue tumbles to US$705.4 mln as VIP market slumps

Casino operator Wynn Macau Ltd has announced that its net profit shrank to US$111.6 million (MOP892.8 million) in the first quarter of this year, 59.3 per cent less than a year earlier.

Wynn Macau told the Hong Kong Stock Exchange that its first-quarter net revenue had contracted by 37.7 per cent to US$705.4 million.

The company blamed the contraction on the slump in the VIP gaming market.

Adjusted property earnings before interest, tax, depreciation and amortisation shrank by 44.7 per cent to US$212.3 million.

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