UBS: Maintains "Buy" Rating on Wynn Macau (01128.HK), with High Win Rate Driving Quarterly Results Above Expectations.

Wisdom Finance APP learned that UBS released a research report stating that Wynn Macau (01128.HK) exceeded expectations with its second-quarter performance. The adjusted property EBITDA increased by 17% year-on-year to $297 million, and grew approximately 6% quarter-on-quarter. After adjusting for VIP room win rates, the EBITDA was $306 million, surpassing market expectations of about $280 million. The performance exceeded expectations mainly due to the mid-table gaming win rate being above normal levels, which drove approximately 6% quarter-on-quarter growth in mid-table gaming revenue. The firm maintains a "Buy" rating for Wynn Macau, with a target price of HKD 7.