Wynn cites strong signs for Macau’s premium gaming segments over Chinese New Year

February 16, 2022 Macau Earnings & Filings

Wynn Macau Ltd says it welcomed a number of former junket players back to its Macau properties over Chinese New Year, helping push VIP segment turnover up to 88% of 2019 levels during the holiday period.

The encouraging feedback follows a recent crackdown by Macau authorities on Macau’s once dominant junket business with the arrest of Suncity Group CEO Alvin Chau in late November and of Tak Chun Group’s Levo Chan late last month. Suncity has since confirmed the cessation of its junket business while recently announced amendments to Macau’s gaming law include a series of measures aimed at heightening junket regulation.

With those headwinds looming large, Wynn Macau told analysts during its 4Q21 earnings call on Wednesday morning (Asia time) that daily VIP turnover via the company’s VIP direct program during CNY was 175% higher than during the same period in 2021 and just 12% lower than in 2019, prior to the COVID-19 pandemic. Mass table drop was 34% higher than 2021 although still 40% lower than in 2019.