In the third quarter of 2010, Wynn Macau posted a net profit of US$114.34 million (MOP914.72 million), a year-on-year increase of 57 percent. Wynn Macau recorded net revenue of US$671.4 million compared to US$448.5 million in the third quarter of 2009, its parent company, Wynn Resorts announced last night. Earnings before interest, taxation, depreciation and amortization (EBITDA) were US$198.0 million, up 54.5 percent from the third quarter of 2009. Meanwhile, the Wynn Macau board of directors approved a HK$0.76 per share dividend, payable on December 3. In addition, the board determined the company will consider paying recurring dividends, with a target yield of 1-3 percent annually. Meanwhile, Wynn Macau’s chairman, Steve Wynn, said test borings for the company’s new property in Cotai are set for this week. Construction will begin within "a few weeks," he added. Overall, Wynn Resorts (Macau and Las Vegas included) posted a US$33.5 million-loss, including US$64.2 million in costs for reducing its debt.
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