One of the most successful Asian casino operators, the Wynn Macau Limited company has just recently warned its major investors that its expected April and May earnings will show a combined loss of around $126.1 million. According to the company’s officials, Wynn Macau Limited will record this major financial loss for April and May before amortization, depreciation, tax, and interest.

One report released by Inside Asian Gaming several days ago also stated that the Asian casino operator uses one of its latest official fillings to share more details about this expected deficit. In this official filling, the officials revealed that the deficit came as a result of the ongoing coronavirus pandemic and related measures and restrictions which have limited traveling from mainland China and Macau since February. According to this report, these travel restrictions could represent a massive diminution of over 157% on a yearly basis.

Details About Wynn Macau Limited

Wynn Macau Limited or Wynn Resorts Limited was founded eighteen years ago back in 2002. The company operates as the subsidiary of the American Wynn Resorts company which was founded by Kazuo Okada and Steve Wynn in state of the Nevada, Las Vegas. This publicly-traded company is one of the most successful operators of luxurious, high-end casinos and hotels. As of today, the company operates six properties including its most iconic Encore Las Vegas and Wynn Las Vegas venues.

When it comes to the company’s properties in Asian which are operated by Wynn Macau Limited, these include its flagship Wynn Macau which opened in 2006, Encore at Wynn Macau which opened ten years ago and Wynn Palace which opened in August of 2016. The Wynn Macau property is doubtlessly one of the most successful venues of this kind located in the Asian gambling capital of Macau.

This luxurious casino and hotel resort in the former Portuguese enclave features two towers that host oner one thousand hotel rooms and suites. There is also a massive 273,000 square feet casino floor alongside retail spaces, dining restaurants, a pool, saloon, and two spas. Back in 2009, the Wynn Macau property became one of just five hotels located in Asia with the Five-Star award by Forbes which speaks of its high-end offering.

Senior Note Offering at Wynn Palace Cotai and Wynn Macau

According to Inside Asian Gaming, the Wynn Macau Limited company’s anticipated loss for April and May 2020 compares with the $215 million profit that the company recorded in 2019 for the same period. The same source also explained that the revelation of this disappointing news came shortly after the operator proclaimed that its Wynn Macau and even more successful Wynn Palace Coati will provide a senior note offering in hopes of raising at least $991.3 million.

Owned and operated by the USA-based Wynn Resorts Limited, the Wynn Macau Limited company’s officials also predicted that the company’s operating revenues for the months of April and May will probably plummet by 97% on a yearly basis to hit only around $17 million while the company’s average daily deficit in earnings before amortization, depreciation, tax, and interest stands at around $2 million.

The company’s official filing also states that the company remains optimistic about its future as it focuses on its VIP guests that will be served once travel restrictions in the area are lifted. This could happen as soon as the 8^th of July if the number of new coronavirus infections remains low.

The Wynn Las Vegas facility, generally known as simply Wynn, is one of the most luxurious casinos and resorts managed and owned by Wynn Resorts. The facility is located on the Las Vegas Strip. The venue opened its doors fourteen years ago on the 28^th of April 2005. This $2.7 billion-worth casino resort is named after the company’s founder Steve Wynn and the company’s name Wynn Resorts.

The luxurious property covers over two hundred and fifteen acres of land located at the corner of Sands Avenue and Las Vegas Boulevard just across the Fashion Show Mall. The main hotel facility has forty-five floors packed with more than two thousand and seven hundred rooms which range in size. The hotel area also includes villas and luxurious suites.

Moreover, the resort complex also features a massive 189,000 square feet casino floor as well as a 290,000 square feet convention center and a retail space with over 76,000 square feet area. Together with the neighboring Encore, the Wynn Las Vegas property includes over four thousand and seven hundred rooms which make this resort the seventh-largest hotel area in the world.

Wynn Las Vegas’ Shopping Complex and Other Amenities

As one of the most luxurious resorts in the world, Wynn Las Vegas features many other amenities besides its hotel area, casino floor, convention center and retail including its massive shopping complex Wynn Plaza and Encore Las Vegas which opened its doors back on the 9^th of November 2019. Thanks to the Wynn Plaza complex, the facility is now located closer to the city’s main Boulevard.

The company responsible for the resort also planned on building Wynn Paradise Park which would be constructed close to Encore Las Vegas and Wynn Las Vegas. This massive golf course would include a twenty-acre lagoon, stunning waterfront meeting region, boardwalk as well as many other features which would surely bring extra traffic to the resort. However, the entire project was abandoned over a year ago.

Wynn Winter Classic Running from the 2nd until the 22nd of December

Many professional poker players have arrived at the facility in order to take part in a poker series that takes place at the Wynn Las Vegas facility from the 2^nd until the 22^nd of December. The poker series is named Wynn Winter Classic and it will surely attract more traffic to the property especially as the playing schedule is loaded with action while its guaranteed prize pool has already gone over $2.8 million.

The poker series has just started so poker players are still arriving. So far, the poker series kicked off with two great events including a $40 No-Limit Hold’em poker tournament and another $360 No-Limit Hold’em tournament featuring a great $100K guaranteed prize pool. Then, on the 4^th of December, the series’ Senior’s poker event started offering loads of poker action for poker players who are older than fifty. This poker tournament is another No-Limit Hold’em event with the same $40 and $360 buy-ins.

Poker players who prefer Omaha also found great poker action at the poker series on the 5^th and 6^th of December with great Pot-Limit Omaha and Limit Omaha 8/B events. The Omaha Pot-Limit event featured a great $20K guaranteed prize poll while the other event featured a $10K guaranteed prize pool.

Furthermore, the largest poker series events will include massive $1.5M, $500K and $250 K guaranteed prize pools. The first of these bigger events No-Limit Hold’em for $55 and $545 buy-ins with the $250K guaranteed prize pool started on the 5^th of December. The second-largest event with the $500 K guaranteed prize pool is scheduled for the 12^th of December with $80 and $1,020 buy-ins. The biggest event with the $1.5 M guaranteed prize pool will feature a $5,000 buy-in alongside $300 with sixty-minute blinds.

One of the biggest, most prominent USA-based casino operators, the Wynn Resorts Limited company has been hit with a serious class-action lawsuit in which it is alleged that an extremely hostile environment for the company’s female staff is still very much persistent. According to the lawsuit, the female staff who used to work at the company accused Wynn Resorts Limited’s CEO and former chairman, Steve Wynn of sexual harassment.

According to one Las Vegas Journal report from several days ago, this action was mainly initiated by Brenna Schrader who used to work at the company as a massage therapist. In her lawsuit, she claims that a hostile working environment persisted for years as she was mentally abused by several company officials. She also claims that the company’s former Chairman and CEO, seventy-seven years old Steve Wynn forced her to be intimate with him for four years, between 2012 and 2016.

Steve Wynn as the Main Defendant

Steve Wynn founded its company Wynn Resorts Limited alongside Kazuo Okada seventeen years ago in 2002. Before founding his company, Mr. Wynn used to work as the Mirage Resorts’ CEO and Chairman. When it comes to the legal suit that he is facing know, Steve Wynn is named as the main defendant. Brenna Schrader who filed the legal suit also claims that other senior managers alongside Steve Wynn had abused other female workers at the company besides her.

She also claims that the Nevada-based company seems to blame its victims here for the hostile, rather discriminator environment which permeates this workspace today as well. On his part, the company’s CEO continuously denied all of these allegations, but he also decided to step down as the company’s Chairman in February, last year. Despite this resignation, the legal suit alleges that Brenna Schrader alongside several other female colleagues was met with a rather sexually-abusive, hostile environment.

Mohegan Sun Pocono Also Facing Issues

In the meantime, another prominent USA-based casino operator is facing issues. As it was reported several days ago, Mohegan Sun Pocono received a $150k-worth fine over security staffing problems. The company was fined by the PGCB or Pennsylvania Gaming Control Board for failing to meet the minimum posed security staffing levels. This fine was shortly agreed by the entire Board at its most recent public meeting.

Commenting on the news, the governmental agency shared their official press release on the 2^nd of October in which it says that the board and the casino operator in question here have come to a consent agreement and the casino operator will pay the fine and further work in preventing the same issues happening in the future. It was also revealed that the entertainment, shopping, gaming and dining destination situated in Plain Township of Wilkes-Barre failed to meet the minimum poses security staffing levels on ninety-one days between the 3^rd of January and 28^th of April this year.

The Board plans on getting together on the 30^th of October to discuss the issues further. Before this fine, the casino operator has not been sanctioned in anyways since September of 2018 when it received a fine of around $50k for failing to prevent its staff from serving alcoholic beverages to already heavily intoxicated visitors which subsequently allowed such visitors to participate in gambling activities at the venue. This incident, in particular, took place within the company’s Luzerne County venue on the 11^th of September of 2017 and on the 28^th of October of 2017.