Wynn Resorts announced their numbers today for Q4 2006 (and FY2006).
Despite opening Wynn Macau, the supposed cash generator for the company, they had a loss for the quarter of $55 million.
What does this mean for the company if they can't make a profit with Macau open? How serious is this and what will the company do to stop the bleeding? It is important to note that a large portion of the loss was related to debenture holders.
Despite operating at a loss, some of the numbers look good, including holds and net revenues.
The extensive press release is here:
Also interesting is the occupancy rate for Wynn Macau, which was just north of 80%. I watch the occupancy rates as a very interesting indicator of how the Macau market is rising to the challenge of conversion to a 'resort destination' city away from a day trip market.