In "Major Banks," China International Capital Corporation (CICC) states that WYNN MACAU's "Chairman's Meeting" is expected to bring strong booking volumes for the Spring Festival

AASTOCKS
2026.02.16 03:41

CICC published a research report indicating that Wynn Macau (01128.HK) announced its Q4 2025 performance, with net revenue of USD 968 million, a year-on-year increase of 4%, recovering to 87% of Q4 2019. Adjusted property EBITDA was USD 271 million, a year-on-year decline of 7%, recovering to 78% of Q4 2019, falling short of market expectations of USD 298 million.

The bank attributed Wynn Macau's performance to three factors, including a decline in total gaming revenue market share from 13% in Q3 2025 to 12% in Q4; a win rate below expectations; and higher average operating costs and reinvestment rates at Wynn Palace.

According to hotel booking outlooks, CICC indicated that Wynn Macau is expected to see a strong performance this Chinese New Year, primarily due to the booking volume of the newly opened 63,000 square foot VIP gaming area "Chairman's Club" at Wynn Palace; strong business trends are expected to continue into 2026. The bank maintained its EBITDA forecasts for Wynn Macau for this year and next, as well as its "outperforming the industry" rating and a target price of HKD 7.2

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