Wynn strong in Macau

Union Gaming Group expects Wynn to post a strong increase both in revenues and EBITDA in Macau for the second quarter of 2010. The firm notes that during the second quarter of 2010, Macau gaming revenue increased about 76 percent. “We think Wynn may have disproportionately benefited (at the high-end) from the opening of Encore Macau in late April.” Union Gaming is forecasting revenues of US$676 million (+65%) and EBITDA of US$196 million (+67%) for Wynn’s operations in Macau during 2Q10. “We are inclined to think we could see upside to numbers in Macau as we anticipate Wynn took incremental market share during the quarter, which could suggest our revenue estimate might be light.” Union Gaming Group forecasts Wynn Resorts total revenues and EBITDA (including both Macau and Las Vegas) increased in the second quarter of 2010. The company expects Wynn to post total results of US$985 million (+36%) and US$240 million (+34%) for 2Q10. For the full year 2010, Union Gaming is forecasting US$3.9 billion in revenue and US$949 million in EBITDA. For the full year 2011, Wynn should post US$4.3 billion in revenue and US$1.02 billion in EBITDA, says Union Gaming Group.