Wynn earnings rise despite VIP slide

First quarter earnings for Wynn Macau Ltd. rose 14 percent from a year ago as revenues increased 4.4 percent to $992.1 million. Profit before interest, taxes, depreciation and amortization reached $330.7 million. Volumes on mass market tables rose 13.6 percent. VIP bet volumes fell 15.3 percent, however the company’s win rate rose to 3.14 percent from 2.59 percent. Slot machine bets fell 23.4 percent to $1.1 billion. The company said it has lined up new junket operators for the casino and that it hoped to open its $4 billion Cotai casino resort by Chinese New Year 2016 after starting foundation work in February.