Hotels, Restaurants and Leisure
Company Overview of Wynn Resorts (Macau) S.A.
Wynn Resorts (Macau) S.A. operates a casino resort in the Macau special administrative region of China. The company’s amenities include hotel rooms and suites, spa and salon, retail space, fitness centers, pool, restaurants, retail space, and recreation and leisure facilities. Its restaurants provide fine and casual dining, bar, and lounge services. The company also provides facilities for meetings and weddings. It also owns and operates Wynn Las Vegas, a hotel and casino resort. The company was founded in 2006 and is based in Macau. Wynn Resorts (Macau) S.A. operates as a subsidiary of Wynn Resorts (Macau), Ltd.
Rua Cidade de Sintra
Founded in 2006
Key Executives for Wynn Resorts (Macau) S.A.
Compensation as of Fiscal Year 2015.
Wynn Resorts (Macau) S.A. Key Developments
Wynn Resorts (Macau) S.A. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 29 15
Wynn Resorts (Macau) S.A. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net revenues were $617.0 million, a 35.8% decrease from the $960.6 million generated in the second quarter of 2014. Adjusted property EBITDA in the second quarter of 2015 was $173.4 million, down 43.5% from $307.0 million in the second quarter of 2014, due primarily to weakness in the gaming segment. Operating income was $93,347,000 against $217,710,000 a year ago.
For the six months, the company's operating income was $224,293,000 against $502,640,000 a year ago. Adjusted Property EBITDA was $385,733,000 against $691,329,000 a year ago.
Kazuo Okada and Aruze USA, Inc. and Universal Entertainment Corp. Files Lawsuit Against Wynn Resorts (Macau) S.A
Jul 3 15
Wynn Macau, Limited's indirect wholly-owned subsidiary, Wynn Resorts (Macau) S.A. and certain individuals who are or were directors of WRM and/or the Company, have been named as defendants in a lawsuit filed in the Court of First Instance of the Macau Special Administrative Region of the People's Republic of China by Mr. Kazuo Okada and two of Okada's controlled companies, Aruze USA Inc. and Universal Entertainment Corp. Okada is a former director of the Company and of Wynn Resorts, Limited (‘WRL’), and Aruze at one time was a shareholder of WRL. WRL is the majority shareholder of the Company. Okada was removed from the Company board in 2012 and resigned from and was removed from the WRL board in 2013. In 2012, WRL redeemed and canceled Aruze's shares in WRL, in accordance with WRL's articles of incorporation. The aforementioned board removal, board resignation and the share redemption and cancellation followed a finding by the WRL board that the Okada Parties were ‘unsuitable persons’ based upon a report by Freeh, Sporkin & Sullivan, LLP. As a result of the share redemption and the activities of the Okada Parties that led to the ‘unsuitability’ finding, various litigation has ensued in courts in the State of Nevada, USA and in Japan. The principal allegations made by the Okada Parties in the Macau Court case are that: the redemption of the Okada Parties' shares in WRL was improper and was undervalued, and the WRL board's decision to redeem the Okada Parties' shares was based on, and proximately caused by, WRM's providing data to WRL and others about the unsuitable activities of the Okada Parties in contravention of Macau data privacy laws; WRM's payment to an unaffiliated third party in consideration of the relinquishment of that party's rights to future development on the land in Cotai where the Company is building Wynn Palace was ‘unlawful’ and ‘contrary to law, public order and common decency’; and WRM's commitment in 2011 to make donations to the University of Macau Development Foundation over the period from 2011 through 2022 was likewise ‘unlawful’ and ‘contrary to law, public order and common decency’.
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