Wynn keeps riding his luck in Macau

Steve Wynn is making as much money from his 600-room, 280-table Wynn Macau as he is from his five-star, five-diamond Las Vegas property, which has 3,000 rooms, a golf course, and a theatre.

The latest quarterly results from Wynn Resorts show earnings of US$93 million from Las Vegas and US$92 million from Macau. Where the most obvious difference lies is in the non-gaming numbers. Net revenues for Macau were US$347 million, of which just US$20 million came from the hotel, retail and F&B operations. In Las Vegas, by contrast, non-gaming revenues from the hotel, retail outlets, entertainment and F&B were US$193 million, higher than casino revenues at US$149 million.

Net daily win per table in Macau for the period was US$16,686, nearly 80% higher than Las Vegas’ US$9,516.

Wynn also confirmed that it was waiting for final approval from the Macau government to develop a 52-acre plot in Cotai, and that construction was proceeding on the Wynn Diamond Suites, at the back of the existing property on the Macau peninsula. When they open (expected in 2009), they will offer 400 suites and six villas, plus extra space for gaming, retail and F&B.