Macau profit

| Published on August 26, 2008

Wynn Resort Ltd. published its stock buyback program and its preliminary second-quarter revenues. It expects in Las Vegas, the operating income for the second-quarter, about $ 18 million to $ 22 million, last year it gained $ 63, 4 million. For the adjusted property cash flow for Wynn Las Vegas, it expects incomes between $ 80 million and $ 84 million; last year these incomes were about $ 115 million.
The Resort has a great profit also in Macau and some Chinese newspapers wrote about the Wynn Resort and the fact that it may consider a Hong Kong stock offering to raise up to $ 3billion and that should help the company to fund the planned Encore at Wynn Macau. The Encore at the Wynn Macau will be a resort with 400 luxury suites and villas, shops, many restaurants and also VIP gaming space.

The construction began already and 2010 the project should be ready to be opened. In Macau the income situation is different, that's the reason why Wynn wants to build an Encore there: Wynn Macau expects second-quarter operating revenues to be between $ 100 million to $106 million, last year those incomes were just $ 53, 2 million.

The adjusted property cash flow incomes are expected to be between $ 152 million and $ 158 million and last year it has been $ 92 million. The final results for the second-quarter will be released on July 24. Wynn Resorts affirmed also that its board approved the increase of up to $ 500 million to the previously announced $ 1, 2 billion stock buyback program. Unnamed sourced diffused the news that Wynn Resorts hired Morgan Stanley, UBS and Deutsche Bank, because it needs help with a possible Hong Kong stock offering. Probably the project is going to be realized soon.

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