Wynn Macau 2015 Operating Income Likely to Fall by up to 57% on Year
January 17 2016 - 8:13PM
Dow Jones News
By Joanne Chiu
Wynn Macau Ltd. (1128.HK) is expected to post a decline of up to
57% in operating income for 2015 as a crackdown on corruption,
tighter regulations and a weakening economy in China have cut into
business in Macau.
The casino operator in Macau, China's semiautonomous gambling
hub, is expected to post an operating income of $382 million to
$390 million, down from $895.2 million a year earlier, it said
Sunday, citing forecasts by parent company Wynn Resorts Ltd.
(WYNN).
The company's full-year net revenues are expected to be $2.46
billion to $2.47 billion, compared with $3.80 billion a year
earlier.
In the fourth quarter, Wynn Macau is expected to post operating
income of $75 million to $83 million, lower by up to 52% from
$157.6 million it reported a year earlier. Net revenue is expected
to be around $552 million to $560 million, compared with $761.2
million the same period last year.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
January 17, 2016 19:58 ET (00:58 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Wynn Resorts (NASDAQ:WYNN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Wynn Resorts (NASDAQ:WYNN)
Historical Stock Chart
From Apr 2023 to Apr 2024
