Wynn Resorts reported a third-quarter profit decline to $17.3m, driven by unfavorable table hold in Las Vegas and softer performance in Macau. The performance reflects a broader Las Vegas market slowdown recently noted by competitors MGM and Caesars. Despite the lower earnings, Wynn continues to allocate capital toward the construction of its upcoming UAE resort development.
Summary based on reporting by Casino Beats, which retains all rights to its text and images.
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Wynn Resorts has increased its investment in its upcoming UAE property to $1.12 billion, with the development slated to open in September 2027. The capital commitment comes despite an 80% drop in quarterly profit as company-wide revenue slipped 7.9% to $1.69 billion.
Inspired Entertainment reported Q3 growth across its UK business, demonstrating operational resilience seven months after an increase in Remote Gaming Duty. The B2B technology provider managed to maintain momentum in the market despite the higher tax burden.
The French Competition Authority has approved Banijay Group's acquisition of JOA Group, clearing the way for the media firm's expansion into France's land-based casino market. The regulatory green light follows Banijay's initial takeover agreement reached in July.
Wynn Resorts contributed $62.2m in cash during the third quarter to the joint venture developing Wynn Al Marjan Island in the UAE, bringing its total life-to-date investment to $1.12bn. The operator holds a 40% stake in the integrated resort project. The property remains on track for an anticipated opening in September 2027.
Galaxy Entertainment reported third-quarter revenues of $12.7bn, up four per cent year-on-year, supported by total gross gaming revenue of $12.9bn. The operator's performance bucked the broader Macau market trend, which saw a four per cent contraction amid taxation policy updates and broader economic slowdown.