Your Daily Asia Gaming eBrief: Wynn Macau results balloon in 2Q23

Good Morning. It’s quarterly recovery time as Wynn Macau reported an unexpectedly positive 2Q23, ending the three-year period with a consolidated income of $127.5 million, reflecting a 171 percent increase compared to the previous quarter and extending its post-pandemic recovery momentum. Meanwhile, the Philippines gaming market maintained its momentum in 2Q23 with the country’s gaming industry revenue topping $1.2 billion. Most of it came from PAGCOR-operated casinos. One of the operators to reap the benefits was Bloomberry Resorts which saw its total gross gaming revenue at Solaire jump 41 percent.

What you need to know

• Gaming operator Wynn Macau saw its results balloon in 2Q23.
• Philippine industry GGR tops $1.2 billion in 2Q23, slightly down by 1.3 percent from the previous quarter but up by 28.3 percent yearly.
• Bloomberry Resorts has reported that its total GGR in 1H23 reached $554 million, marking a 41 percent increase from 1H22.

On the radar

• New PAGCOR EGM standards greenlighted, to be implemented in 2024.
• Shin Hwa World expecting net losses to expand in the first half of this year.
• Grand Korea Leisure with 60 percent sequential drop in profits during 2Q23.
• Fusion Hotel Group opens new resort at Grand Ho Tram Strip.

AGB Intelligence

MACAU

Wynn Macau tallies an impressive 2Q23

Industry Updates

• MGM named “Role Model of Sustainability” & “Outstanding Employer” at the 12th CFS.
• Enrolment now open for 13th Intake of Sands Procurement Academy.
• Tom Horn invites players to unleash their inner fire in new game Fire’n’Frenzy 5.

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