Wynn Resorts Ltd. said revenue and profit is continuing to fall in its largest market, Macau, amid a steep in drop in betting sparked by a government crackdown on corruption.
First-quarter earnings in Macau will be $187 million to $195 million before interest, taxes, depreciation and amortization, the Las Vegas-based company said Tuesday in a statement. That compared with $212.3 million in the same period last year.
Revenue in the Chinese enclave will be $603 million to $613 million, compared with $705 million a year earlier, Wynn said. Both VIP and mass-market betting were down.
Wynn Resorts is holding an investor presentation in Las Vegas on Wednesday that will be streamed on the company’s website. Last year, the company generated 60 percent of its $4.08 billion in revenue in Macau.