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WYNMY Wynn Macau Limited (PK)

8.88
0.06 (0.68%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Wynn Macau Limited (PK) USOTC:WYNMY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.06 0.68% 8.88 8.36 9.05 8.88 8.88 8.88 996 21:02:43

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

18/01/2016 1:13am

Dow Jones News


Wynn Macau (PK) (USOTC:WYNMY)
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From Jun 2019 to Jun 2024

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   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 joanne.chiu@wsj.com

 

(END) Dow Jones Newswires

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

Copyright (c) 2016 Dow Jones & Company, Inc.

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