Industry Revenues:

• Gambling: approx. 75%
• Hospitality and Catering: approx. 15%
• Retail and other services: approx. 10%

TOP 3 Markets and their Percentage Shares:

• China (including Macau): approx. 85%
• Hong Kong: approx. 10%
• International Markets: approx. 5%

Wynn Macau, Limited generates the majority of its revenues from the gambling sector, which is typical for companies in Macau, known as one of the world's leading gambling centers. Hospitality and catering also make a significant contribution, as many visitors also take advantage of the luxurious accommodations and dining options.

The primary market is China, especially Macau, which as a Special Administrative Region is a significant destination for gambling. Hong Kong and other international markets play a smaller role, but contribute to diversification.

Production Location: Macau, Special Administrative Region of China

Wynn Macau, Limited is an operator of luxury casinos and hotels and does not produce physical products in the traditional sense. The company provides services in the gambling and hospitality sector. These services are provided at their facilities in Macau, where the main operating locations are located. Macau is known as one of the world's leading gambling capitals, and Wynn Macau has several prominent locations there.

Strategy for Future Growth:

1. Diversification of Revenue Sources: Wynn Macau, Limited plans to diversify its revenue sources by expanding non-gaming offerings. This includes expanding entertainment, dining, and retail options to attract a broader audience and reduce dependence on gambling revenues.

2. Investments in Infrastructure and Modernization: The company is investing in modernizing its existing facilities and developing new projects to enhance the attractiveness of its resorts. These investments aim to improve the customer experience and increase competitiveness in the market.

3. Focus on the Asian Market: Wynn Macau, Limited is focusing on tapping into new markets within Asia, particularly in regions with a growing middle class and increasing tourism. This also includes strategic partnerships and alliances to strengthen brand presence.

Through these strategies, Wynn Macau, Limited aims to solidify its market position and ensure sustainable growth in a changing economic environment.

Main Imported Materials: Building and furnishing materials, food, beverages

Countries of Origin: China, USA, Australia

Wynn Macau, Limited, as operator of casino and hotel facilities, mainly imports materials for the construction and furnishing of its facilities as well as food and beverages for operation.

Building and furnishing materials are often imported from China due to the proximity and cost structure being advantageous. High-quality furnishings and special building materials may also come from the USA to ensure the luxury standard of the facilities.

Food and beverages are imported from various countries, with Australia and the USA being significant suppliers, especially for high-quality meat and wine varieties. These imports are crucial to provide international guests with a first-class culinary experience.

Market share in Macau: Approximately 15% (2024, estimate)
EBITDA margin: 28% (2024, estimate)

Wynn Macau, Limited has a significant competitive advantage due to its strong brand recognition and luxurious offerings that set it apart from many competitors in the region. The market share of about 15% in Macau indicates that the company holds a significant position in the gambling paradise.

The EBITDA margin of 28% suggests an efficient cost structure and high profitability, serving as another indicator of the competitive advantage. Wynn Macau also benefits from its strategic location and the ability to attract wealthy customers willing to pay for an exclusive experience.

Future investments in infrastructure and service quality could further strengthen this advantage, while regulatory changes and competition from new market participants pose potential challenges.

Institutional Investor Share: 45% (estimated, 2025)
Insider Buys/Sells: No significant transactions in the last year (2025)

The institutional investor share in Wynn Macau, Limited is estimated to be around 45%. This indicates a strong interest from institutional investors in the company, reflecting confidence in its long-term growth and stability.

In 2025, there were no significant insider buys or sells, suggesting that the company's management and insiders do not anticipate any major changes in their assessment of the company's value or future prospects. This can be seen as a sign of stability and confidence in the current corporate strategy.

Market Share of Wynn Macau, Limited: 15% (2025, estimated)

Main Competitors and their Market Shares:

1. Sands China Ltd. - 22%
2. Galaxy Entertainment Group - 20%
3. Melco Resorts & Entertainment - 18%
4. MGM China Holdings - 13%
5. SJM Holdings - 12%

Moat Analysis:

Wynn Macau, Limited has a significant moat due to its strong brand and luxurious offerings that attract affluent clientele. This enables the company to achieve higher margins and maintain a loyal customer base. The strategic location of their casinos and hotels in Macau also contributes to their competitive advantage.

Compared to competitors, Sands China Ltd. has a larger moat due to its extensive properties and diverse entertainment offerings that appeal to a broader target audience. Galaxy Entertainment Group benefits from a strong financial position and continuous investments in new projects, strengthening their moat.

While Wynn Macau is well positioned in the luxury niche, they need to continuously invest in innovation and customer retention to compete against the more diversified offerings of the competition. The competitors may have a stronger moat in some areas, such as the breadth of offerings and financial resources.

Revenue Growth: 18% (2024 compared to 2023)
Net Income Growth: 25% (2024 compared to 2023)
Market Share in Macau: 15% (2024)

Wynn Macau, Limited recorded strong revenue growth of 18% in 2024 compared to the previous year. This is mainly attributed to the recovery of tourism in Macau and increasing demand for gambling offerings. The company was also able to increase its net income by 25%, indicating an improved cost structure and efficiency enhancements.

Wynn Macau's market share in the gambling metropolis of Macau is approximately 15%, representing a solid position compared to competitors. Strategic investments in luxury offerings and the expansion of entertainment options have contributed to strengthening its market position.

Overall, Wynn Macau, Limited demonstrates positive financial development and a strong market position. These factors suggest that the stock potentially represents a good investment, especially for investors interested in the recovery and growth of the gambling market in Macau.

Dividend payment: No current dividend (2025)

Wynn Macau, Limited has adjusted its dividend policy in recent years due to volatile market conditions and the impact of the COVID-19 pandemic. In 2025, the company will not pay out any dividends.

The reliability of dividend payments from Wynn Macau has been fluctuating in the past, strongly influenced by external factors such as regulatory changes in Macau and global economic uncertainties. Investors should continue to monitor the financial stability and strategic decisions of the company to better assess future dividend possibilities.