Bank Rating | Macquarie: Raise the target price for Wynn Macau to “outperform the market” rating to HK$10.2 to raise this year's net revenue forecast

Gelonghui Finance · Feb 19 10:36

Glonghui, Feb. 19 | Macquarie released a research report stating that the Group's 2024 net revenue forecast was raised by 6% to reflect higher gambling revenue forecasts and higher adjusted EBITDA profit margin expectations, and raised the target price by 5% to HK$10.2. The company's overall gambling revenue for the fourth quarter of '23 returned to 73% of 2019 levels, while the gambling revenue for VIP rooms, midfield, and slot machines reached 28%, 117%, and 53%, respectively. According to management, Wynn Macau's first large-scale concession-related capital project, Illumarium, opened in the fourth quarter of last year. In the future, the Group's capital expenditure plans will include food courts, new events and entertainment venues, and unique performances.

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大行评级｜麦格理：予永利澳门“跑赢大市”评级 目标价上调至10.2港元 上调今年净收入预测

Bank Rating | Macquarie: Raise the target price for Wynn Macau to “outperform the market” rating to HK$10.2 to raise this year's net revenue forecast

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大行评级｜麦格理：予永利澳门“跑赢大市”评级目标价上调至10.2港元上调今年净收入预测