Test borings for the firm’s new property in Cotai are set for this week
Wynn Macau’s profit increased
2010-11-05
Reading time 26 seg
Earnings before interest, taxation, depreciation and amortization (EBITDA) were us$ 198 million, up 54.5 %t from the third quarter of 2009. Meanwhile, the Wynn Macau board of directors approved a us$ 0,09 per share dividend, payable on December 3. In addition, the board determined the company will consider paying recurring dividends, with a target yield of 1-3 % annually.
Meanwhile, Wynn Macau’s chairman, Steve Wynn, said test borings for the company’s new property in Cotai are set for this week. Construction will begin within “a few weeks,” he added. Overall, Wynn Resorts (Macau and Las Vegas included) posted a us$ 33.5 million-loss, including us$ 64.2 million in costs for reducing its debt.
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