Wynn Resorts Macau is expecting its operating income foro the second quarter of this year to double that of the same period last year to some 100 million US dollars.
Wynn Resorts yesterday announced preliminary expectations of its financial results for the quarter ended June 30.
The results are are preliminary and subject to the completion of the final financial statements, including the review of those financial statements by the Company's internal and independent accounting professionals and the Company's audit committee.
However, the company's operating income for the SAR's resort in the second quarter of this year is expected to be in the range of 100 million to 106 million US dollars, compared to 53.2 million US dollars in the same period last year.
In addition, adjusted property EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is expected to be in the range of 152 million to 158 million US dollars in the second quarter of this year, compared to 92.7 million US dollars for the second quarter of last year.
Table games turnover in the VIP segment increased 74.9 per cent to 16.3 billion US dollars for the period, compared to 9.3 billion US dollars for the second quarter of last year. VIP table games win as a percentage of turnover, calculated before discounts and commissions, was 2.96 per cent, within the expected range of 2.7 per cent to 3.0 per cent and lower than the 3.3 per cent in the comparable period last year.
Table games drop in the mass market category was approximately 626.9 million US dollars during the period, a 24.7 per cent increase from 502.7 million US dollars in the second quarter of last year. Mass market table games win percentage, calculated before discounts, of 18.9 per cent was within the property's range of 18 per cent to 20 per cent and was higher than the 18.4 per cent in the second quarter of 2007.
The company is now finalising tax provisions for the second quarter of this year, and is expected to release a final second quarter results in a couple of weeks.