Wynn Resorts reported a US$162.7.0 million loss from its Macau integrated resorts, Wynn Macau and Wynn Palace, in the three months to 30 September 2022, widened from the US$95.4 million loss recorded in the same period last year.
It was, however, narrowed from the US$185.3 million loss reported in 2Q22.
Wynn’s Macau subsidiary, Wynn Macau Ltd, continues to be impacted by mainland China’s COVID-zero policy, with various lockdowns and border restrictions making travel difficult.
According to Wynn Resorts’ 3Q22 financial results, released Thursday morning (Asia time), revenue from Macau operations fell 62.9% year-on-year and 1.4% sequentially to US$115.6 million. GGR was just 8% of 2019 levels.
