Wynn Palace adjusted net income drops by 20pc to US$590m

Operating revenues from Wynn Palace in the fourth quarter ended December 31, were US$590 million, a drop of 20.3 percent from US$740.6 million for the fourth quarter of 2018, Wynn Macau (1128) reported.

 Adjusted property EBITDA from Wynn Palace was US$177.6 million, a 21.6 percent decline from US$226.6 million for the fourth quarter of 2018.

VIP table games win as a percentage of turnover was 3.07 percent, slightly above the expected range of 2.7 percent to 3 percent and below the 3.25 percent experienced in the fourth quarter of 2018.

Table games win percentage in mass market operations was 25.2 percent, above the 23.6 percent in the fourth quarter of 2018, Wynn Macau reported.

Adjusted property EBITDA is net income or loss before interest, income taxes, depreciation and amortization, litigation settlement expense, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course and water rights leases), as well as stock-based compensation, (loss) gain on extinguishment of debt, change in derivatives fair value, change in Redemption Note fair value and other non-operating income and expenses.