Macau (MNA) – Wynn Macau has recorded a revenue increase of 16.3 percent year-on-year to HK$39.59 billion (US$4.58 billion) in 2018, according to an annual report filed by the company on Tuesday.
The company noted that the increase was primarily due to higher gaming volumes from Wynn Palace, one of Wynn Macau’s properties on the Cotai Strip.Â
The increase was, however, offset from lower VIP table games wins from Wynn Macau.
Casino revenues had increased 15.5 percent to HK$34.1 billion.
VIP gross table games win increased 2.6 percent to HK$27.13 billion in 2018, driven by increase of volume coming from Wynn Palace.
VIP table games turnover was up 16.9 percent to HK$478.82 billion, while mass market gross table games win increased 33.2 percent, to HK$17.4 billion in 2018.
Slot machine wins, on the other hand, increased 14.6 percent to HK$2.86 billion for the whole year.
The annual report notes that plans are in place to begin the Encore tower room refresh project in the second quarter of 2019, and set to be completed in the fourth quarter.
In addition, the renovation of the Wynn Club gaming area has already taken place, with the newer space to consist of approximately 40 mass market table games, a new high-limit slot area, two new restaurants and approximately 7,400 square feet of retail space.
The new restaurants will be open in the third quarter of 2019 and the new retail space will open at the end of 2019.
The total budget allocated for both projects will be approximately HK$939.8 million.
