Wynn Macau's Q1 Results Align with Projections, CLSA Maintains HK$5.7 Target

Stock News05-08

CLSA issued a report stating that Wynn Macau's first-quarter performance was in line with expectations. Property EBITDA increased by 11% year-on-year to HK$2.18 billion, which was 1% higher than the firm's forecast but 6% below market consensus. The company has raised its capital expenditure guidance for 2027 from US$425-475 million to US$700-750 million, primarily due to the addition of 432 guest rooms at the Wynn Palace "The Enclave" project. The capital expenditure guidance for 2026 remains unchanged at US$400-450 million. Management expects the project will not cause significant operational disruptions. CLSA assigned a "Hold" rating to Wynn Macau with a target price of HK$5.7.

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