Wynn Resorts also announced today that the Company has approved a cash dividend for the quarter of $1.25 per common share. This dividend will be payable on February 27, 2014, to stockholders of record on February 13, 2014.
In the fourth quarter of 2013, net revenues were $1,119.9 million, a 24.6% increase from the $898.7 million generated in the fourth quarter of 2012. Adjusted property EBITDA in the fourth quarter of 2013 reached a record $374.2 million, up 32.1% from $283.2 million in the fourth quarter of 2012.
Table games results in Macau are segregated into two distinct reporting categories, the VIP segment and the mass market segment.
Table games turnover in the VIP segment was $34.4 billion for the fourth quarter of 2013, a 23.9% increase from $27.7 billion in the fourth quarter of 2012. VIP table games win as a percentage of turnover (calculated before commissions) for the quarter was 2.92%, within the expected range of 2.7% to 3.0% and below the 2.96% experienced in the fourth quarter of 2012.
Table games win in the mass market segment increased by 34.6% in the fourth quarter to $292.9 million. Mass market table games win per unit per day increased by 22.5% to $14,552 from $11,875 in the fourth quarter of 2012. Drop in the mass market segment was $691.8 million in the fourth quarter of 2013, down 1.1% from the December 2012 quarter, while the segment’s win percentage of 42.3% compares to 31.1% in last year’s fourth quarter and sequentially to 38.0% in the third quarter of 2013. Note that customers purchase mass market gaming chips at either the gaming tables or the casino cage. Chips purchased at the casino cage are excluded from table games drop and will increase the expected win percentage. With the increased purchases at the casino cage, we believe the relevant indicator of volumes in the mass market segment should be table games win.