The Short Take:
- Total revenue from Macau was $1.31 billion for the third quarter of 2018 at Wynn’s two overseas properties, a 20.5% year-over-year increase
- Wynn’s Macau casino revenue jumped 19.4% YoY in the third quarter, hitting $1.129 billion
- The Rooms revenue segment had the largest YoY growth of any segment, rising 37.1%
When Wynn Resorts reported its third quarter earnings a few days ago, we saw that revenue out of its Macau properties came in at $1.31 billion for the quarter. This represents a year-over-year increase of 20.5% for the Macau revenue. Further, the Macau revenue makes up 76.7% of the total revenue for Wynn Resorts.
So where did the Macau revenue increases come from during the third quarter? Wynn reports revenue in four distinct revenue segments: Casino, Rooms, Food & Beverage and Entertainment, Retail & Other. All four revenue segments saw positive year-over-year growth for the Macau revenue.
Over 86% of the Macau revenue came from the Casino revenue segment. Revenue from the Macau casinos hit $1.129 billion for the quarter, up 19.4% from the third quarter of 2017 when the casinos brought in $945.9 million. (Read more: WYNN Casino revenue up 13.6% company-wide).
Macau revenue from Rooms at the two hotels, the Wynn Macau and the Wynn Palace, totaled over $72.4 million in the third quarter. The Rooms segment had the largest YoY increase of any segment, jumping 37.1% versus the third quarter of 2017. Rooms contributed 5.5% of the revenue out of Macau. (Read more: WYNN RevPAR, ADR and Occupancy for Las Vegas and Macau).
The Entertainment, Retail & Other revenue segment posted the second highest YoY growth, rising 30.4% YoY. The $63.4 million in entertainment and retail revenue in the third quarter was almost $14.8 million more than a year earlier and made up 4.8% of Macau revenue.
The final revenue segment is Food & Beverage. While not as strong on a YoY basis as the other segments, it still posted decent annual growth of 13.8%, with revenue coming in at over $45.3 million for the quarter. Food and beverages contributed 3.5% of Macau total revenue.
We’ll be keeping an eye on all of the action at WYNN and all of the other gaming companies, so bookmark us and check back soon!