Wynn’s Macau subsidiary has reported a significant rebound in adj. EBITDA in the first two months of 2023, according to pre-announced Q1 earnings. The company noted particular strength in visitor numbers over the Chinese New Year, and trading post-holiday season has continued to be robust. The company’s Q1 revenues and adj. EBITDA figures are expected to exceed forecasts, with mass market table drop recovered to 95% of pre-pandemic levels and direct VIP turnover up 40%. Wynn’s GGR market share for Jan/Feb23 was 15%, above 2019 levels.

Flutter, the parent company of FanDuel, is strongly considering a US listing. The company’s focus on North America and its profitable operations in the region make a US listing a logical next step. This move could potentially attract new investors. Additionally, analysts noted that FanDuel’s profitability is proving its time advantage and its tie to a large global operator sets it apart from any US competitor. While Flutter’s US operations incurred an EBITDA loss in H222, the team sees evidence of a “profitability coil” and forecasts EBITDA in 2025 of $738m for FanDuel alone. Flutter CEO Peter Jackson hinted that the company may eventually pull the plug on Fox Bet once it regains complete control of the business.