Wynn Macau reports US$351.5 mln in net losses for Q2

Gaming operator Wynn Macau has recorded US$351.5 million (MOP2.8 billion) in net losses during the second quarter of this year, having reported US$168.6 million in net profit in the same period last year.

According to the group’s latest financial report, Wynn Macau reported US$300,7 million in operating losses, after operating revenues for the second quarter of this year dropped 98.2 per cent year-on-year to some US$20.6 million as a result of the Covid-19 pandemic.

Operating revenues from Wynn Palace went down 98.6 per cent year-on-year to US$8.7 million for the second quarter of 2020, with Wynn Macau seeing its operating revenues plunge 97.8 per cent to US$11.9 million.

Wynn palace also averaged a VIP turnover of US$1.7 billion during the second quarter, and a mass-market table drop of some US$22 million, an 87 per cent and a 88 per cent year-on-year fall, respectively.

In June of this year, Wynn Macau issued US$750.0 million aggregate principal amount of 5.500 per cent Senior Notes due 2026, with the group intending to use the net proceeds from for general corporate purposes until business recovers from the effects of the COVID-19 pandemic.