Wynn Resorts

    Website: http://www.wynnresorts.com/

    Wynn Resorts Limited, is a casino operator, which owns 72.2 percent of Wynn Macau, Limited, which operates a casino hotel resort property in the Macau Special Administrative Region of the People’s Republic of China. The Company also owns and operates a casino hotel resort property in Las Vegas, Nevada.Its Macau resort is a resort destination casino contains two luxury hotel towers (Wynn Macau and Encore) with a total of 1,008 spacious rooms and suites, approximately 280,000 square feet of casino space, casual and fine dining in eight restaurants, approximately 57,000 square feet of retail space, and recreation and leisure facilities, including two health clubs and spas and a pool. It opened Wynn Palacein August 2016. Its Las Vegas operations (Wynn Las Vegas and Encore) feature two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas, approximately 186,000 square feet of casino space, 34 food and beverage outlets featuring signature chefs, an on-site 18-hole golf course, meeting space, a Ferrari and Maserati dealership, approximately 96,000 square feet of retail space, two showrooms, three nightclubs and a beach club.Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes.


    Steve Wynn

    Mr. Wynn, 74, has served as chairman and chief executive officer of Wynn Resorts Limited since June 2002. Mr. Wynn has been an executive director, the chairman of the board of directors and chief executive officer of Wynn Macau, Limited, a majority owned subsidiary of the company, since September 2009 and president of Wynn Macau, Limited until January, 2014.Mr. Wynn has also served as Director, Chairman and Chief Executive Officer of Wynn Resorts (Macau) S.A. since October 2001. Mr. Wynn serves as an officer and/or director of several subsidiaries of Wynn Resorts, Limited. During his time as chairman, chief executive officer and president of Mirage Resorts, Mr. Wynn developed, opened and operated The Mirage, Treasure Island and Bellagio in 1989, 1993 and 1998, respectively.

    Erik Hansen

    Erik Hansen is the Chief Sustainability Officer of Wynn Resorts. In his role, Hansen is responsible for the development of the company's global sustainability strategy and energy procurement goals. Originally serving as Director of Energy Procurement for Wynn Resorts since 2016, Hansen has been instrumental in instituting several large-scale sustainability and renewable energy projects that have moved Wynn Resorts into a leadership position in environmental stewardship. Most notable have been the negotiation, build, and opening of the 160-acre 20 MW Wynn Solar Facility; management of Wynn Las Vegas' shift to the open energy market; and the creation of an energy supply plan that integrates the first micro grid to be implemented at an individual resort at the Encore Boston Harbor property. Hansen has more than 25 years of experience, and is a current member of the Nevada Governor's Committee on Energy Choice. He began his career in the energy industry at NV Energy where he spent more than 10 years in various capacities including power trading, transmission policy and contracts, business development, and project leadership. Before joining Wynn Resorts, Hansen served as Vice President at EnergySource, where he represented a broad base of Nevada'slargest energy customers across industries including mining, gaming, data centers, utilities, and technology.

    Matthew Maddox

    CEO Wynn Resorts

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    In a management analysis and discussion in its annual report, Wynn Macau highlighted the potential risks the company may face from the February resignation of founder and Chairman Steve Wynn following accusations of sexual harassment. “The resulting controversy related to Mr. Wynn and his separation from the group could significantly harm our business in numerous […]

    Wynn Resorts appoints three new independent directors

    Wynn Resorts has announced the appointment of three new independent directors, and the expansion of its board to 11 members. The announcement comes only a day after Elaine Wynn, ex-wife of the embattled Steve Wynn, sought for a restructure in the company’s corporate governance through a shake up of the board of directors. The new […]

    Elaine Wynn wants board reshuffle

    Elaine Wynn, co-founder of Wynn Resorts and ex-wife to Steve Wynn is pushing for a restructure in the company’s corporate governance through a shake up of the board of directors. Only a day after Ms. Wynn drop her claims against her ex-husband over a breach of their stockholders agreement, Ms. Wynn wrote a letter to […]

    Wynn repercussions remain hard to measure

    The gaming industry fallout sparked by the sexual misconduct charges against Wynn Resorts founder Steve Wynn has been dramatic, but it remains difficult to gauge what it means for the hunt for IR licenses in Japan. On the one hand, the complete separation of Steve Wynn from the company which still bears his name is […]

    Junket told to repay gambler HK$6m in lost chips

    Junket operator Dore Entertainment was ordered by Macau’s Court of First Instance to repay a gambler HK$6 million ($764,400)  in lost gaming chips, plus interest. The same court absolved Wynn Resorts of responsibility in the case, according to local media reports. In September 2015, a former cage manager allegedly stole more than HK$100 million, using […]

    MGM eyes Wynn bid, New York Post reports

    MGM Resorts has expressed an interest in buying Wynn Resorts through back-channel approaches, the New York Post reported, citing unnamed sources. Wynn Resorts is not on the block, but the newspaper cited one source close to the situation as saying the company’s new CEO would sell if he got the right price.“I think if the […]

    Galaxy buys Wynn Resorts stake

    Galaxy Entertainment has bought a stake of just under 5 percent in Wynn Resorts from the company’s founder Steve Wynn, calling the purchase a “unique investment opportunity.” The Macau-based operator bought a total of 5.3 million shares at $175, resulting in gross proceeds of $927.5 million to Wynn. Steve Wynn also sold a further 4.1 […]

    Does Wynn sale open Macau door for Genting?

    Steve Wynn’s announcement he is selling some, or all, of the 12 percent stake in the company he founded may open the door for Malaysia’s Genting to enter the Macau market, Bloomberg argues in an analysis. Genting Singapore has S$2.6 billion in net cash and free cash flow of $1.15 billion in 2017, a figure […]

    Okada accord paves way for Wynn share sales

    A further legal chapter in the long-running dispute between Japanese billionaire Kazuo Okada, Steve Wynn and his former wife, has been closed, potentially paving the way for the sale of their holdings in Wynn Resorts. In a Securities and Exchange Commission filing, Wynn Resorts said that Steve and Elaine Wynn presented the Judicial District Court […]

    Deutsche trims Wynn share price target

    Deutsche Bank has cut its share price target for Wynn Resorts to $215 from $221, though the firm reiterates its buy rating and says all indications point to upside from its forecasts in Macau. The model was tweaked to reflect Wynn’s recent agreement to settle a lawsuit with Universal Entertainment, the removal of the promissory […]

    Most Macau gaming stocks overvalued: Morningstar

    Shares in Macau’s gaming operators have surged 82 percent since the fourth quarter of 2016 and as a result most are overvalued, with investors failing to factor in potential risks from a cyclical economic downturn and license renewals, Morningstar warns. The firm says that Galaxy Entertainment, Wynn Macau and its parent company Wynn Resorts, Melco […]

    Universal stock slumps after Wynn settlement

    Universal Entertainment shares slumped a further 13 percent Monday, continuing a decline triggered by last week’s settlement of a legal case with Wynn Resorts. The stock dropped from 6,250 yen before news of the settlement Thursday to 4,590 yen by the end of the day Monday, a loss of more than 26 percent of its […]

    Universal revises forecasts after $2.4 bln settlement

    Universal Entertainment Corporation said it expects to record a significant jump in net income for the fiscal year ended Dec. 2018 as a result of the $2.4 billion settlement from Wynn Resorts. On Friday, the U.S-based casino operator announced an end to its long running legal battle with Universal, paying a $2.4 billion settlement to […]

    Wynn Resorts settles legal dispute with Universal for $2.4 billion

    U.S.-based Wynn Resorts has ended its long running legal battle with Universal Entertainment by agreeing to pay a settlement of $2.4 billion. The settlement is part of a battle between Wynn Resorts and Universal founder Kazuo Okada, who was an early investor and board member of Wynn but was ousted after a falling out with […]

    Wynn Resorts announces board changes amid scandal

    Two members of Wynn Resorts’ board of directors have stepped down from the company, as lawsuits against the company’s founder and its members over sexual misconduct continue to mount. In late January, Wynn was accused of alleged sexual misconduct with employees during his role at the helm of the company. The founder and CEO, who […]

    Wynn gets no severance payment

    Wynn Resorts has agreed a separation package with former Chairman and CEO Steve Wynn, under which he will receive no severance, or compensation, and will need to leave his residence at the beginning of June. Under the accord, Wynn agreed not to compete against the company he founded for two years and to provide reasonable […]

    Wynn ends legal-battle against ex-wife over share control

    Steve Wynn has agreed to terminate an eight-year-old shareholder agreement with his ex-wife, allowing both of them to sell their stock in Wynn Resorts without requiring permission from the other. Wynn’s decision to end the six-year legal battle comes only days after the gaming mogul resigned as CEO and Chairman of Wynn Resorts following sexual […]

    BREAKING: Steve Wynn resigns as chairman and CEO of Wynn Resorts

    Wynn Resorts founder Steve Wynn has resigned from his position as CEO and chairman of the company, effective immediately. The departure of the gaming veteran comes amidst an investigation into his alleged sexual misconduct with employees during his role at the helm of the company. “It is with a collective heavy heart, that the board […]

    Wynn fallout reaches Macau, panel to investigate claims

    Macau’s gaming regulator has expressed concern regarding recent accusations against Wynn Resorts CEO Steve Wynn, according to reports. Representatives from the Gaming Inspection and Coordination Bureau reportedly met with top executives from Wynn Macau in order to “understand the situation”, before releasing a statement on the matter. “The Gaming Inspection and Coordination Bureau expresses concerns […]

    Crown completes Las Vegas land sale

    Crown Resorts has completed the sale of its 34.6 acre vacant land site in Las Vegas to a subsidiary of Wynn Resorts. The sale was conducted by its majority owned subsidiary, Alon Las Vegas Resort LLC, which was sold to Wynn Resorts for US$300 million. According to a filing from the operator on Monday, Crown’s […]

    Wynn allegations could affect Japan IR bid, stock prices

    The fallout from the Wall Street Journal article regarding Wynn Resorts’ founder and CEO Steve Wynn’s alleged pattern of sexual assault has already been serious. Wynn was forced to quit his position as US Republican Party National Committee finance chair, an investigation has been launched by the Massachusetts Gaming Commission, and the company’s stock prices […]

    Wynn confident of Macau license renewal

    Casino magnate Steve Wynn, head of Wynn Resorts, said he is confident that his casino business in Macau will continue after the expiration of casino concessions starting 2020, Reuters reports. Wynn told analysts on Monday that his confidence comes from talks with the government in Macau. “We have been given reason to have confidence that […]

    Mass ramping up, Wynn and Melco to benefit

    Capacity expansion, ramp up of recently opened properties, transportation infrastructure improvements and strength of the Chinese premium consumer should continue to push up mass over the next five years, says Bernstein in a note on Tuesday. The brokerage said it has revised its estimates for 2017E-2022E CAGR to 8 percent for Total GGR, 6 percent […]

    Palace performance offsets weaker Peninsula

    Casino operator Wynn Macau Limited reported net profit of $90 million in the third quarter of 2017, pushed up by strong performance from Wynn Palace. Total operating revenue reached $1.2 billion in the three months to September 30, up from $682.7 million in the prior year period. Adjusted property EBITDA for Macau operations was $321.4 […]

    Macau operators to introduce eco friendly bus services

    In support of the environmental policies of the Macau SAR Government and the objective of turning Macau into a green city, the city’s six casino operators are to introduce new energy/electric shuttle bus services for passengers, for which the trial run will start with the Cotai Connection route. To alleviate road traffic, the six operators […]

    Nagasaki Mayor visits Las Vegas

    Norio Tomonaga, mayor of Sasebo city, Nagasaki Prefecture, visited Las Vegas on Monday as part of a week-long official tour of the United States. Sasebo is the location of the Huis Ten Bosch theme park, the proposed site for Nagasaki’s IR. Mayor Tomonaga was accompanied by a dozens-strong delegation of city council members and prominent […]

    Melco, Wynn to benefit most from Chinese premiumization

    Macau gaming brands including Wynn and Melco are well positioned for the long-term in China’s growing premium market, says Bernstein. In its latest report titled: “China Consumer: Premium is the new mainstream”, the brokerage points to a growing premium consumer class in China – an estimated 63 million people who are expected to drive sustained […]

    Steve Wynn says Vegas shooter seemed “rational”

    Steve Wynn, the billionaire head of Wynn Resorts, said the man who opened fire on a crowd attending a music festival in Las Vegas last week had stayed in his hotels many times and had seemed like a rational man. Stephen Paddock killed 58 people and injured more than 500 in a murderous spree launched […]

    Melco, Wynn Resorts add funds to typhoon relief

    Macau’s community is set to receive another helping hand with the addition of relief funds from Melco Resorts and Wynn Resorts, according to two separate announcements released last week. Melco Resorts and Entertainment said it plans to allocate MOP 30 million (US$3.75 million)  to support its employees and their families, and the community. Two thirds […]

    Deutsche Bank upgrades Wynn as Palace ramps up

    Wynn Resorts has been upgraded to buy from hold by analysts at Deutsche Bank due to a ramp up in the mass sector at Wynn Palace after floor reconfigurations and ongoing strength in the VIP market. “Our checks give us confidence that the reconfiguration of the mass floor has stimulated improved mass play,” the bank […]

    Wynn Resorts’ Mark Strawn joins MGM Resorts

    MGM Resorts International has announced the appointment of Mark Strawn as senior vice president and chief administration officer for MGM Resorts Design and Development. Strawn will be based in Las Vegas and report directly to Bill Ham, president of MGM Resorts Design and Development. In this role, Strawn will be responsible for providing strategic leadership […]

    Wynn Palace fuels 17Q1 profit and revenue boost

    Casino operator Wynn Resorts Ltd. saw an uptick in earnings and revenue in the first quarter of 2017, beating expectations, fuelled by strong performance from Wynn Palace and Las Vegas operations. Net revenues were $1.5 billion for the first quarter of 2017, an increase of 47.9 percent from $997.7 million for the same period of […]

    Margin pressure seen rising as VIP gaming picks up

    Macau’s casino operators are likely to facing increasing margin pressure in 2017 as overall costs rise and promotional pressures gain with the uptick in VIP gaming, Morgan Stanley wrote in a note. The firm said staff costs rose by 5 percent in the second half of last year with the opening of the Wynn Palace […]

    Google search suggests Wynn mass upside: MS

    Recent analysis of Google search data and observation of market trends suggest that Wynn Macau’s market share could rise higher than expected, notes Morgan Stanley. According to the brokerage’s AlphaWise team, there appears to be a correlation between Google searches of a particular property and its mass market share. “We have analyzed historical Google search […]

    EBITDA targets achievable for 2017, Deutsche Bank says

    The consensus EBITDA forecasts for 2017 for Macau’s operators now look to be achievable for this year, after targets lacked harmony with gross gaming revenue growth throughout 2016, Deutsche Bank said in an analysis. The firm said that previously, forecasts for EBITDA has failed to take account of the cost pressures stemming from the opening […]

    Wynn appoints Craig Billings as CFO

    Wynn Resorts has appointed Craig Billings, a former Aristocrat Leisure executive, as its new chief financial officer, treasurer and chief accounting officer from the beginning of March. From November 2015 through February 2017, he was an independent advisor to and an investor in the gaming industry. From July 2012 to November 2015, Mr. Billings served […]

    Wynn Resorts disputes order to turn over documents

    Wynn Resorts is attempting to overturn two district court orders directing it to hand over documents to Japanese gaming mogul Kazuo Okada as part of a long-running dispute over his ousting in 2012. Okada was removed from Wynn’s board in 2012 after it was revealed he was being probed for corruption, and was forcibly made […]

    Palace EBITDA to hit $432 million in 2017: MS

    Morgan Stanley has revised its 2017 EBITDA expectations for Wynn Palace to US$432 million following strong 16Q4 performance. “We expect continued ramp-up of Palace through 2017, as mass table yield and margins are still at a discount to industry averages,” said the brokerage in a note on Monday. Morgan Stanley says its EBITDA forecast for […]

    Wynn Resorts net income rises 30.5 percent in 16Q4

    Wynn Resorts has reported a 30.5 percent year-on-year rise in net income for the fourth quarter of 2016, attributed to strong revenue from Wynn Palace, and offset by decreased earnings from Wynn Macau. According to a filing from the operator on Friday, net revenues for the fourth quarter of 2016 was $1.3 billion, representing an […]

    UnionPay ATM withdrawal limit slashed in half

    Macau is preparing to cut the amount of cash China UnionPay card holders can withdraw from ATM machines, in a move from China to curb capital flight. According to a report from the South China Morning Post on Friday, the move to cut the daily withdrawal limit from MOP10,000 (US$1,251.9) to MOP5,000 is expected to […]

    Wynn Resorts reports net loss in 16Q3; Palace still ramping

    Casino operator Wynn Resorts reported a net loss for the third quarter of 2016, down 118.1 percent year-on-year to $17.4 million. While Macau GGR has been on an upward trend over the last three months, net revenue from its Macau operations fell 11.5 percent in 16Q3 to $518.1 million. Adjusted Property EBITDA from Wynn Macau […]

    Wynn to pay more to Leighton Asia

    Macau casino operator Wynn Macau has announced it has entered into an agreement with Leighton Asia to settle litigation over the construction of Wynn Palace. “The Group and Leighton Asia have been in discussions with a view to resolving these differences and avoiding the potential for protracted dispute resolution proceedings. As a result of these discussions, […]

    Connectivity key to speed of ramp up in Macau

    Connectivity and positioning of resorts on the Cotai strip is likely to be key to the speed of the ramp up of the properties and its importance may have been underestimated, CLSA said in a recent research note. The firm noted that foot traffic was strong at Las Vegas Sands’ Parisian, which opened last month, […]

    Sept. GGR rises stronger-than-expected 7.4 percent

    Gross gambling revenue rose for a second straight month in September, gaining a greater-than-expected 7.4 percent, after two years of monthly declines. GGR was MOP18.4 billion ($2.3 billion), according to figures released by the regulator. That was a 2 percent decrease from August. Average daily revenue was MOP613 million. The month’s data also implied a […]

    Coughlan named as Wynn Macau president

    Wynn Macau has announced the appointment of Ian Michael Coughlan as president of the company, effective immediately. The operator said Coughlan has been and will remain president of Wynn Resorts (Macau) S.A. and a member of the board of directors of the company as an executive director, positions he has held since July 2007 and […]

    Bowie very confident of the future of industry, mass to dominate

    MGM China CEO Grant Bowie said he is “very confident” about the future of Macau’s gaming industry, as the region’s gaming operators shift their focus toward mass-market recreational gamblers. Bowie made the comments on the sidelines of a forum held at the MGM casino-hotel in Zape, when asked about his views on Wynn Resorts Chairman […]

    Wynn Resorts results above expectations

    Casino operator Wynn Resorts has reported results above analyst expectations, attributed mainly to an increase from Macau operations. According to its financial statement, more than half of Wynn Resorts’ net revenues of $1.1 billion for the second quarter of 2016 came from Macau – which rose 3.6 percent to $639.3 million for the second quarter […]

    Lawsuit against Wynn Resorts board dismissed

    The 9th Circuit Court of Appeals has upheld the dismissal of a lawsuit against Wynn Resorts board members concerning the donation of $135 million to the University of Macau Development Foundation in 2011. The lawsuit was filed in 2012 by the Louisiana Municipal Police Employees’ Retirement System, a shareholder of Wynn Resorts. The lawsuit alleged […]

    Wynn palace confirms August 22 opening date

    Macau casino operator Wynn Resorts has announced the opening date of Wynn Palace will be August 22, 2016 as expected. In a press release on Monday, the operator said “The Company expects that the opening of Wynn Palace will help launch a new era of prosperity for Macau, attracting more international tourists to the city […]
    Wynn palace Cotai

    Wynn stocks rally ahead of opening: Morgan Stanley

    Wynn Macau stock has already outperformed year to date ahead of the opening of Wynn Palace, said Morgan Stanley analysts in a note on Tuesday. “Historically, stocks tend to outperform peers between the announcement of the opening date and the actual opening of the new casinos…. However, we think this could have been priced in […]

    Fitch affirms ‘BB’ IDR for Wynn Resorts

    Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) of Wynn Resorts at ‘BB’, with a ‘Stable’ Rating Outlook, according to a press release on Tuesday. “Fitch’s affirmation of WYNN and the Stable Outlook reflect our view that WYNN has a relatively clear glide path to reduce leverage to levels more commensurate with its ‘BB’ […]

    Galaxy’s trademark appeal denied by court

    Macau’s Court of Second Instance has denied an appeal by Galaxy Entertainment for an action against Wynn Resorts regarding the trademarking of its ‘SW’ logo, local media reports. The case first came to light in 2013 when Wynn registered a trademark for the use of the ‘SW’ logo in drinks and food. Galaxy contested the […]

    Wynn says Wynn Palace to open in Q3, confirms Q1 results

    Wynn Resorts says its delayed $4.2 billion Wynn Palace resort on Cotai is now expected to open in the third quarter and it invested about $177.5 million in the first three months of this year on the project. The integrated resort contains a 1,700-room hotel, a performance lake, and a wide range of amenities. The […]

    Government to audit junkets’ bad debts

    Macau authorities are looking into the bad debts of VIP gaming promoters, as part of an audit that is estimated to be ready by the end of the year, TDM reports. In a report released on Friday, quoted by TDM, brokerage Daiwa Securities said total debt outstanding in the VIP segment is at least HK$30 […]

    Wynn Palace will provide long term growth prospects: Bernstein

    The opening of Wynn Palace in August will be a key inflection point for the company, said a note from Bernstein on Friday. Bernstein analysts say although there will be some cannibalization of its existing operations in the short term, the new opening will position the company to be a market share taker with long-term […]

    Wynn Palace opening likely pushed to August

    Wynn Resorts’ newest development Wynn Palace is likely “to open in July or maybe the first week of August,” said the chairman and chief executive of Wynn Macau in a recent investor presentation. According to a previous filing, potential construction delays could push the Wynn Palace opening to the second half of 2016. Penalties would […]

    Wynn Q1 results top estimates

    Wynn Resorts Limited says it expects around a 10 percent decline in its Macau property EBITDA for Y16Q1, approximately 15 percent above analyst estimates. According to its preliminary expectations of the first quarter financial results, the casino operator says it expects net revenue to decline 14 percent year on year between $603 million to $613 […]

    Wynn Palace to potentially miss June deadline

    Wynn Resorts says potential construction delays could push the Wynn Palace opening to the second half of 2016. The Macau casino operator said that, although it still expects to open Wynn Palace in the first half, there is a chance the opening would be delayed, according to a filing to the Hong Kong Stock Exchange. […]
    Rob Goldstein

    Las Vegas Sands boss says more discounting of Macau rooms to come

    Las Vegas Sands president and chief operating officer Robert Goldstein believes room rates may fall when several new properties come on line in Macau this year, local media reports. Goldstein, who was quoted at the JP Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum in Las Vegas last week, said properties to be opened […]

    Macau casino operators cuts number of shuttle buses routes

    The Macau Transport Bureau is aiming to cut shuttle bus routes in the territory by 20.55 percent from 73 to 58, local media reports. According to Hoje Macau who quotes the Transport Bureau (DSAT), there are currently 65 bus routes still operating, marking a decline of 11 percent. Sands China was reported to have cut […]

    Steve Wynn annual renumeration fell 18 percent in 2015

    Founder and chief executive officer Wynn Resorts, Steve Wynn’s annual remuneration fell 18 percent last year to US$20.7 million, according to a US SEC filing. The board of Wynn Resorts said Mr. Wynn’s annual incentive was cut to $17.5 million, half paid in cash and half paid in shares, and cut his salary to $2.5 […]

    Wynn puts Boston project on hold

    Wynn Resorts, which was to begin construction of its $1.7 billion casino later this year, has said it will postpone the project as a result of continued objections to a key environmental permit by officials in Somerville, just across the river from the project, local media reports. Mayor Joseph Curtatone of Somerville was revealed as […]
    Wynn macau

    Wynn Macau reports 27 percent revenue decrease in Y15Q4

    Wynn Resorts Ltd’s Macau operations have reported net revenue for Y15Q4 at US$555.7 million, a 27 percent decrease from the $761.2 million generated in the same period in 2014, according to a recent press release from the casino operator. The net revenue decrease from its Macau operations was cited as a main reason for the […]

    Wynn sees Q4 Macau revenue down 26 percent, Las Vegas strong

    Wynn Resorts has said it expects a drop of about 25 percent in its Macau revenue in Q4, though a stronger performance in Las Vegas will help to offset the decline.  The company is the first of the Macau operators to provide figures for Q4, though the results are preliminary. As for its Macau operations, […]

    Steve Wynn buys one million shares of his company’s stock

    Wynn Resorts Limited announced on Tuesday, Dec. 8 that Chairman and CEO Steven Wynn spent around $63.8 million to buy more than one million shares of his company’s stock on the NASDAQ open market. This puts the total amount of shares owned by Steve Wynn, to 11.1 million shares. In a filing with the Securities […]

    Wynn delays opening of $4.1b Cotai resort

    Wynn Resorts said it has delayed the opening of its $4.1 billion Wynn Palace resort on Cotai by three months. The operator said it had been notified by its general contractor, Leighton Holdings. that the project would not be ready by the March 25th early completion date. The new opening date has been set at […]

    Weaker-than-expected start for Macau Nov. GGR

    Gross gambling revenue in the first week of November is pointing to a weak start for the month, prompting analysts to revise down their forecasts. According to Bernstein Research average daily revenue in the week through to Nov. 8th was MOP 525 million ($66 million), lower than October’s MOP 647 million rate, mainly due to […]

    Okada to face U.S. questions over Wynn ouster

    Japanese billionaire Kazuo Okada will have to travel to the U.S. to face questioning over events leading to his ousting from Wynn Resorts’ board after failing to overturn a Nevada court order, Bloomberg reports. The ruling last Thursday from the Nevada Supreme Court upholds an earlier decision by a lower court that ordered Okada, head […]

    Wynn Resorts 3Q earnings plunge on Macau slump, missing expectations

    Wynn Resorts’ 3Q earnings missed expectations on a steep drop in revenue from its Macau operations with income from the high-roller segment falling by half. The operator said net revenues for the quarter were $996.3 million, down from $1.37 billion a year earlier and below forecasts for $1.03 billion. Net revenue in Macau was down […]

    Macau EBITDA seen down 36 percent in Q3

    The profitability of Macau’s casino operators is expected to decline more than revenue in Q3, though results will have improved from the prior quarter due to stabilization in the higher margin mass market, UBS said in a research note. Overall EBITDA is seen falling 36 percent year-on-year in Q3, that’s up 2 percent from Q2. […]

    LVS Macau mass market share drops in Sept., Wells Fargo says

    Las Vegas Sands was the biggest loser in terms of mass market share among the U.S.-listed operators in Macau in September, according to Wells Fargo research. For the market as a whole, unadjusted mass revenue fell 33 percent year-on-year, with junket volumes down 54 percent and VIP revenue off 34 percent, the analysts said in […]

    IGT to install suite at Wynn casinos; lineup “impressive” at G2E

    International Game Technology announced that Wynn Resorts has signed an agreement to install a comprehensive suite of IGT systems applications at Wynn Palace, Macau, and other resorts.  The deal will see systems be installed at Wynn Las Vegas and Wynn Everett in Massachusetts upon completion of construction. The IGT server-based systems installation includes an upgrade […]

    Macau casino stocks plunge on Neptune warning, visitor concern

    Casino stocks traded in Hong Kong plunged to multi-year lows on Tuesday, with losses spilling over into U.S. trading, after junket operator Neptune Group warned it may be forced to exit the business, while concern over Golden Week tourism numbers added to the gloom. SJM Holdings fell almost 7 percent to a five-year low, Wynn […]

    Wynn Resorts withdraws application for NJ online gambling

    It appears that casino mogul Steve Wynn will pass on a return to New Jersey as US new sources report that Wynn Resorts Ltd has withdrawn its application for a state online gambling license. Its digital gaming subsidiary Wynn Interactive is said to have withdrawn its application a month ago with New Jersey’s Gaming Enforcement […]

    Wynn discusses investment opportunities in New South Wales

    Wynn Resorts recently met with the Deputy Premier of New South Wales in Australia to discuss potential investment opportunities, The Age reported. According to the latest NSW government ministerial diary summaries, representatives from Wynn Resorts met Troy Grant on May 13. The purpose is recorded as an “introductory meeting” to discuss “investment in NSW”. Wynn […]

    Boston says Wynn representatives knew of mob ties to land

    Recently discovered interviews with at least five people suggest Wynn Resorts knew a mob associate with felony convictions would profit from his stake in the waterfront land where the Las Vegas casino company plans to build a resort, the city of Boston said in recent court filings, according to the Associated Press. Boston, which is […]

    Two thirds of casino employees back smoking lounges: survey

    Macau’s six casino operators jointly announced the findings of an independent study into the attitudes towards proposed tobacco control legislation, which would ban all smoking inside casinos, saying a majority of employees back the retention of smoking lounges. The initial results of the study, conducted on behalf of Galaxy Entertainment Group, Melco Crown Entertainment, MGM […]

    Grant Bowie dismisses merger speculation

    Grant Bowie, the CEO of MGM China has declined to comment on speculation that MGM China’s parent company, MGM Resorts International, may merge with US casino operator, Wynn. After CNBC host Jim Cramer said there was “speculation” the two operators would merge – without citing his sources – Bowie has moved to quash the rumors. […]

    Macau casino stocks gain as CS points to “green shoots”

    Shares in Macau casino operators gained Thursday following a Credit Suisse analysis of the breakdown of May gambling revenue that pointed to “some green shoots.” The investment bank said VIP gaming rose 3 percent from April, VIP rolling gained 7 percent and mass gaming was up 9 percent. “Mass revenue was quite decent, even after […]

    Investors not cautious enough on Macau, Morgan Stanley says

    Investors are still not cautious enough on Macau gaming stocks despite the sell off that has resulted in a 37 percent underperformance relative to Hong Kong’s benchmark Hang Seng Index this year, Morgan Stanley says in a note. “While sell side is generally negative, we see investors are inclined to add positions. We see further […]

    Wynn makes no apology for dividend cut

    Wynn Resorts CEO Steve Wynn said he makes no apologies for slashing the dividend from $1.50 to $0.50 a quarter based on the company’s poor financial results. In an earnings call, Wynn said he and the board would “not hesitate” to further lower the dividend if necessary “without a second thought and without any apology.” […]

    Wynn Resorts dividend cut reflects uncertain outlook in Macau

    Wynn Resorts’ large dividend cut from $1.50 per share to $0.50 in the first quarter following dire financial results from its Macau arm reflect a cautious outlook for Macau, UBS says. Wynn Resorts, which cut its quarterly dividend to $0.5 from the previous quarter, announced that its Macau operation reported property EBITDA of $212 million, […]

    Wynn Resorts shares tank as 15Q1 earnings miss estimates, dividend cut

    Shares in Wynn Resorts tanked 10 percent in after hours trading Tuesday after the company posted much lower-than-expected 15Q1 adjusted earnings as revenue from its Macau operations fell 37.7 percent. The company reported overall net revenue of $1.1 billion, missing estimates for $1.2 billion, according to Capital IQ. Las Vegas revenue gained 1.6 percent. Adjusted […]

    Elaine Wynn loses boardroom battle

    Elaine Wynn, the second-biggest shareholder in Wynn Resorts, has lost her battle for a seat on the board after failing to win over a sufficient number of shareholders to back her re-election at an annual general meeting. Wynn has been in a war of words with the board of the casino operator, which was co-founded […]

    Wynn Resorts board room battle heats up

    Wynn Resorts and board member Elaine Wynn have stepped up their battle of words ahead of a vote on April 24th that will decide whether the former wife of chairman Steve Wynn retains her seat at the top table. On Monday, the company sent a letter to shareholders urging them not to vote to return […]

    Casino stocks take a hit after visitor cap announced

    Casino stocks took a hit after the government announcement that Macau will cap the number of Mainland visitors to 21 million, with Wynn faring the worst. Wynn Resorts Limited finished Tuesday’s session as the worst performer on the S&P 500 Composite index, falling 6.13 or 4.59 percent to 127.47. Wynn has been downgraded by several […]

    Casinos in Vegas begin to go cashless

    MGM Resorts International and Wynn Resorts no longer allow cash at their poker tables, a push that possibly reflects that casino operators are trying to step up their anti-money laundering efforts. Though the companies have not disclosed details around the policy, news site Vegas Inc says some experts think the change is motivated by a desire from casinos, facing pressure […]

    Glass Lewis supports Wynn director nominees

    Glass Lewis & Co., a leading independent proxy advisory firm, has recommended that Wynn Resorts stockholders vote “FOR” ALL of the director nominees, the casino operator announced in a filing. According to Wynn, Glass Lewis said in a report that it supported Wynn’s nominees and rejected director Elaine Wynn, who was formerly married to CEO […]

    Wynn Resorts Q4 profit almost halves as Macau revenue tumbles

    Wynn Resorts has fallen victim to Macau’s downturn with the company’s fourth-quarter profit plummeting as a result of its Macau operations underperforming. The company’s revenue fell to $1.13 billion, dragged down by a 32 percent decline in the Macau operations and 5.8 percent drop in Las Vegas. Net income was $109.3 million, or $1.07 per […]

    Debate percolates over future gaming concessions in Macau

    An undercurrent of debate over the future of existing gaming concessions in Macau has begun to percolate as the contracts approach renewal in the coming few years. In a report launched by the Hong Kong-based securities and intelligence consultancy, Steve Vickers Associates, the firm says the Macau government may be considering looking to a “new” […]

    Macau operators’ Q4 EBITDA seen down 11 percent

    The Q4 EBITDA of Macau’s gaming operators is likely to decline about 11 percent quarter on quarter, outpacing a drop in revenue, due to the falling mass market, according to a note from Morgan Stanley. It says overall gambling revenue fell 9 percent quarter on quarter, with a 5 percent drop in VIP and 13 […]

    Macau operators make CSR push amidst coronavirus crisis

    As the Covid-19 crisis descended upon, first, China, then the world, the six Macau operators have not been idle in their CSR efforts, in spite of the mandated casino closures and reopenings under difficult economic conditions.
    Japan Diet Session

    Policy delays give late movers a fighting chance

    The Abe government's decision to drag its feet on more detailed regulations governing the IR industry and to delay the establishment of the Casino Management Board may exercise an effect on which local governments get licensed and which IR operators are selected.

    Surviving the titans

    Besides being titans in the casino world, there’s something else that Sheldon Adelson, Stanley Ho, Lim Kok Thay and Steve Wynn have in common and this factor may lead to important regulatory repercussions for their business empires.
    Hokkaido IR

    Japan local governments gather at the starting line

    The year 2017 saw a distinct acceleration in the race to obtain licenses to build and operate Japan’s first IRs. While everyone agrees that the potential scope of the market is vast, without the precise locations and the terms of regulation yet being clarified, estimations of the ultimate size of this market remain little more than guesswork. Progress in the year was once again stalled by politics, though operators are hoping to push forward in 2018 with both the legislative framework and their own groundwork.

    Concession clarity lacking as deadline approaches

    In just three years, the first of the licenses awarded to Macau’s concessionaires expire and, despite the billions of dollars invested by the operators in the market, there is still no clarity over the renewal process. There is no mechanism under the current law for automatic renewal which, as the deadline approaches, is leading to increasing concern in the market as to the tack the government may take. Views on the ground are mixed.

    Taking stock

    Asia’s gaming markets have seen a strong first half, with Macau, the Philippines and Cambodia leading the way, prompting some analysts to revise upwards their targets for the full year. But it hasn’t all been plain sailing; the fatal attack on Resorts World Manila lead to a suspension of its gambling operations in June, while South Korea continues to underperform after a diplomatic spat with China, which banned tour groups after Seoul agreed to deploy a U.S. missile shield.

    Attracting MICE

    Macau saw a 62 percent spike in MICE visitation in the first quarter, helped by government subsidies, though the territory still faces considerable hurdles to reach its full potential as an events and exhibitions destination. Macau has lost out to regional rivals due to a lack of hotel capacity, limited venues, poor transport links and a branding problem and although problems are gradually being addressed progress is slow.

    Non-gaming revenues rise, but offering fails to inspire

    Chinese Premier Li Keqiang praised Macau’s efforts to diversify its economy during a three-day visit last year, but market experts say operators are still trying to get the recipe right when it comes to non-gaming attractions and face an uphill struggle. Revenue from non-gaming has improved, however, Macau is still far from being a destination that will attract visitors for its tourism offering off the casino floor. 

    Outlook improves, but China remains in driver’s seat

    Macau got off to a good start in January, with GGR in the initial weeks higher than expected, though few expect any return to the stellar growth rates of the past, with China still likely to be the driving factor for casino operators. Beijing’s crackdown on corruption triggered a two-year slump in gaming revenue and going forward the performance of its economy, efforts to control capital outflows and its ongoing fight against graft will all play a role in determining the strength of the local gaming market.

    Macau gets most expensive casino yet, with Wynn Palace debut

    Macau will see its most expensive casino to date open its doors this week, when Wynn Resorts' high-end $4.2 billion Wynn Palace makes its debut on Monday after a series of construction delays.  

    Cotai resorts seen viable, but returns to disappoint

    The multi-billion properties opening up on Macau’s Cotai strip are still likely to be viable, despite the slump in gaming revenue in the territory, though returns will fall far short of the levels expected when the resorts were first planned, analysts say. The six operators are set to almost double their room capacity over the next two years at a time of unprecedented uncertainty for the revenue outlook. 
    David Green

    2016 – what comes next for Macau and the region?

    Asia Gaming Brief asked its advisors David Green, John English, Luis Mesquita de Melo, Andrew Klebanow and Steve Gallaway, to look ahead and share with us what they believe are the underlying currents for the Asian Gaming industry in 2016. Views may differ but the one common denominator is the shifting of the sands - something will have to give…An end to the IR “arms race," by David Green The strong will survive, by Steve GallawayEnough about the Millennials, by Andrew KlebanowMacau will continue the race to reinvent, by John EnglishThe “golden” gap for emerging jurisdictions,  by Luis Mesquita de Melo 
    Macau casino floor

    Macau casinos putting cost cuts above customer care?

    As Macau’s gross gambling revenue has slumped, operators have been paring costs to the bone to protect margins, with the first casualty usually being spending on marketing and player reinvestment.However, this may be a short-sighted approach that will cost dearly in the longer term. 

    How will Macau treat casino gaming license renewals?

    The government’s mid-term review of Macau’s six gaming operators is now well underway, assessing the strengths and weaknesses of the concessionaires and sub-concessionaires ahead of the expiry of current concessions.Against a backdrop of a year of falling gambling revenue and a crackdown on corruption by mainland China, it has added a further layer of regulatory uncertainty in the market.