Wynn Macau 2015 Operating Income Likely to Fall by up to 57% on Year

   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 [e-mail]

(END) Dow Jones Newswires

January 17, 2016 19:58 ET (00:58 GMT)

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