On May 9, Goldman Sachs reported on Wynn Macau's first-quarter results in its latest report.CasinoswithfreeplayfornewmembersAn accurate forecast is made, and it is announced that the property EBITDA will reach 3 during the period.Casinoswithfreeplayfornewmembers$0.4 billion, up 14% quarter-on-quarter, while adjusted property EBITDA rose 11% to $321 million, in line with the bank and market expectations of $310 million to $340 million. Wynn Macau management is relatively optimistic about the group's business prospects, with cash bets in midfield surging 30 per cent year-on-year in April, indicating solid business growth. According to management, Wynn Macau's midfield cash bets in April were 32 per cent higher than before the outbreak, while hotel occupancy remained at 99 per cent. In addition, the performance of International Labour Day during the May Day period (May 1-5) also satisfied the management, with the cash bet in the midfield increasing by 30% compared with that before the epidemic, close to the level during the Spring Festival. This performance of Wynn Macau has undoubtedly brought great confidence to investors. In terms of technology, Wynn Macau has also demonstrated its determination to innovate continuously. The company has begun testing radio frequency identification (RFID) or smart gaming tables and plans to launch them by the end of the year to close the gap with rival MGM China. This move is expected to further enhance the competitiveness of the company. Goldman Sachs gave a positive assessment of Wynn Macau's share price outlook, raising its target price to HK $9.6 from HK $8.4 and giving it a "neutral" rating. The bank believes that Wynn Macau's valuation is not high and that its share price performance will depend on its continued profitability. However, it is worth noting that there is still competitive pressure in the market, and gaming operators such as Silver Entertainment and Melco are stepping up promotions, which may have an impact on the gaming revenue market share of Wynn Macau and MGM China. Overall, Wynn Macau's first-quarter performance exceeded market expectations, indicating the company's rapid recovery and steady growth after the epidemic. At the same time, the company's positive measures in technological innovation and market competitiveness are expected to bring higher market share and better profit prospects for the company. However, in the face of fierce market competition, whether Wynn Macau can maintain its leading position is still the focus that investors need to pay attention to.
