Wynn Macau aims to complete floor renovations by 2015

    Wynn Macau said it’s hoping to complete renovations affecting about 27,000 square feet of floor space by Chinese New Year 2015.
    The upgrades, which are designed to add more VIP rooms, began in March this year and have reduced the number of tables and slot machines at the resort, the company said in a Hong Kong Stock Exchange filing.
    In the first half, VIP tables dropped to 256 from 285, while mass tables went down by five to 200. Slot machines were down to 613 from 884.
    The company also said it plans to open its Wynn Palace resort on Cotai in the first half of 2016. The total project budget is approximately HK$31 billion ($3.9 billion) including construction costs, capitalized interest, pre-opening expenses, land costs and financing fees. As of 30 June 2014, the company said it had invested approximately HK$8.7 billion in the project.
    Wynn Macau said it will pay an interim dividend of HK$0.70 a share for the six months ending June 30th.
    The payout will be available to shareholders of record on September 12th and will be paid on September 23rd.
    For the first half, the company said it had casino revenue of $15.38 billion, up from $13.99 billion the prior year. Room revenue declined to $65.6 million from $73.5 million and retail income also dropped to $712 million from $758 million.
    Basic and diluted earnings per share dipped to $0.70 from $0.71.