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Wynn posts $2 07bn net loss as Covid-19 takes its toll in 2020

Wynn posts $2 07bn net loss as Covid-19 takes its toll in 2020
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GGRAsia – Premium mass helps Wynn Macau Ltd EBITDA break even 4Q

Wynn Macau Ltd’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) were back on positive ground in the fourth quarter of 2020, the Macau casino firm reported on Thursday. The Macau unit – controlled by United States-based operator Wynn Resorts Ltd – saw its adjusted property EBITDA reach US$39.4 million in the fourth quarter, after a loss on adjusted property EBITDA amounting to US$112.1 million, for the three months ended September 30, 2020. Wynn Macau Ltd reported in a filing to the Hong Kong bourse, a US$144.9-million fourth-quarter loss, compared to a US$182.0-million profit in the fourth-quarter 2019. The final-quarter 2020 net loss narrowed sharply from the nearly US$280.7-million net loss in the third quarter of that year.

Wynn Resorts says Vegas occupancy made comeback in January: Travel Weekly

The Encore and Wynn casino resorts in Las Vegas. Despite a steep drop-off in business through the winter, Wynn Resorts has reported a rebound in Las Vegas bookings in recent weeks, with the group s Wynn Las Vegas expected to hit nearly 50% occupancy, the property s highest occupancy level since October, for the Super Bowl. During Wynn Resorts fourth-quarter earnings call on Thursday, Wynn CEO Matt Maddox told analysts that while the company saw green shoots in Vegas during October, with bookings hovering at roughly 1,650 rooms per night, it was followed by a real decline in business as Covid-19 cases surged across the country and key markets like California and New York locked back down.

Wynn Resorts Named To FORTUNE Magazine s 2021 World s Most Admired Companies List

Wynn Resorts Named To FORTUNE Magazine s 2021 World s Most Admired Companies List Company Ranks Top Five For Hotels, Casino And Resort Category, Plus Top Marks For Quality Of Product/Services News provided by Share this article LAS VEGAS, Feb. 1, 2021 /PRNewswire/ Wynn Resorts (Nasdaq: WYNN) today was again honored on FORTUNE Magazine s 2021 World s Most Admired Companies list in the hotel, casino and resort category. Wynn Resorts improved upon previous ratings to secure a place in the top five international hotel companies. Wynn also claimed first overall in the group for Quality of Products/Services and received additional high marks for Innovation.

GGRAsia – Fewer Michelin-starred outlets in Macau casino sector

The number of Michelin-starred restaurants based at Macau casino resorts has declined in the 2021 edition of the “Michelin Guide Hong Kong Macau”. The new edition of the guide was announced on Wednesday. The new rundown features 18 restaurants in Macau, down from 20 in the previous year. All the still-listed eateries are located inside a casino hotel or resort. Macau had again three restaurants awarded three stars. It is Michelin’s top accolade for food that it considers “exceptional cuisine”. Two of the outlets, French favourite Robuchon au Dôme, and Chinese fine dining outlet The Eight (pictured), are at Grand Lisboa casino hotel, owned by gaming operator SJM Holdings Ltd.

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