"The daily average gross gaming revenues of Wynn Resorts' Macau Operations were about 31% of its gross gaming revenues in the fourth quarter of 2019," stated the preliminary information for the fourth quarter of 2020. When compared to the total operating revenues of $775.2 million that were recorded for the same period in 2019, it is anticipated that Wynn Macau will bring in between $258 million and $262 million during the period beginning on October 1, 2020 and ending on November 30, 2020.
Throughout these two months, the daily average table drop was just 47% of what it was in the fourth quarter of the previous year. The anticipated range for the adjusted property EBITDA for the first two months of the quarter is in the range of $13 million to $15 million. This is a considerable decrease from the adjusted property EBITDA of $244.8 million for the same period in the previous year. The reopening of the IVS exit visa program to all inhabitants of mainland China had an effect on the outcomes, which were altered as a result.
The gross gaming income for the first two months in Macau was $1.75 billion, which represents a 72% decrease from $6.17 billion in 2019. On the other hand, as compared to the GGR of $612 million in the third quarter of 2020, the results for the first two months of the fourth quarter climbed by 187%.
Additionally, the company announced that it will use the net proceeds from the proposed offering and the issuing of Additional Notes to repay "a portion of the amounts outstanding under the Wynn Macau Credit Facilities." The company also stated that the issuance of the Additional Notes should "extend the maturity profile of the Group's indebtedness and reduce the Group's secured indebtedness."
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