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Major brokerage rating | Macquarie: Slightly raises the Target Price for WYNN MACAU to HKD 8.7, with last season's performance exceeding expectations.
Macquarie published a Research Report indicating that due to a win rate higher than the average level, WYNN MACAU's revenue for the fourth quarter of the 2024 fiscal year increased by 1.3% year-on-year, while adjusted EBITDA decreased by 1.4% year-on-year, both exceeding the bank's expectations by 5% and 11% respectively. Macquarie noted that both hotels under WYNN MACAU have launched smart gaming tables, and management believes this will help improve operational efficiency. Notably, for the fourth quarter of the 2024 fiscal year, the daily operating expense running rate increased by 1.2% year-on-year, and the bank expects WYNN MACAU's management to continue to strictly control operating costs to maximize profit margins. Additionally, Macquarie will adjust WYNN MACAU's revenue for the 2025 fiscal year.
Wynn Macau's Q4 Pre-Tax Earnings Fall
[Hong Kong Stock Connect] WYNN MACAU (01128) reported fourth-quarter Operating income of 0.3637 billion USD, a year-on-year decline of 5.83%.
Jinwu Financial News | WYNN MACAU (01128) announced that for the fourth quarter of 2024, WYNN MACAU's operating income is 0.3637 billion USD, a decrease of 22.5 million USD compared to 0.3862 billion USD in the fourth quarter of 2023, representing a year-on-year decline of 5.83%. The adjusted property EBIDTAR for the fourth quarter of 2024 is 0.1082 billion USD, while it was 0.1258 billion USD in the fourth quarter of 2023. The winning percentage of table games in the mid-market segment is 17.9%, which is lower than the 19.1% recorded in the fourth quarter of 2023. The winning percentage for VIP table games as a percentage of the turnover is 5.01.
WYNN MACAU (01128): The controlling Shareholder Wynn Resorts, Limited continues to show strong overall Business performance in the fourth quarter and throughout the year 2024.
WYNN MACAU (01128) announced that its controlling Shareholder, Wynn Resorts, Limited...
Wynn Macau Reports Unaudited 2024 Financial Results From Parent Company
MGM CHINA (02282) rose 4.43%, leading the Macau Casino sector. Morgan Stanley indicates that Macau Casino stocks have been over-corrected.
King Wu Financial News | MGM CHINA (02282) reported a 27.15% year-on-year increase in total revenue, driving the stock price up by 4.43%, leading the Macau Casino sector. Additionally, MELCO INT'L DEV (00200) rose by 3.38%, Sands China (01928) increased by 3.65%, SJM HOLDINGS (00880) went up by 3.43%, GALAXY ENT (00027) added 2.44%, and WYNN MACAU (01128) climbed by 1.95%. JPMorgan stated that it believes the Macau Casino stocks have been excessively corrected (down 12% year-to-date while the Hang Seng Index has risen by 6%), but before the market expectations are fully reset, establish.
