Wynn Macau Ltd

01128: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Wynn Macau Earnings: The House Was Less Lucky; Long-Term Value Intact

Jennifer Song

May 7, 2025

Lower VIP win rates at both properties dampened Wynn Macau's first-quarter results, with gross gaming revenue, or GGR, and adjusted EBITDA declining 5% and 14% quarter on quarter, respectively. Nevertheless, luck-adjusted metrics suggest stable sequential performance.

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Wynn Macau Ltd

Wynn Macau Earnings: The House Was Less Lucky; Long-Term Value Intact

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