Ge Long Hui·2025-08-08 05:53Core Viewpoint - Citigroup's research report indicates that Wynn Macau's second-quarter revenue remained flat year-on-year at $883 million, with adjusted property EBITDA decreasing by 10% to $254 million [1] Financial Performance - Wynn Macau's adjusted EBITDA, after win rate adjustments, reached $266 million, which is largely in line with Citigroup's expectations [1] - The company anticipates slight operational disruptions leading up to the end of 2025, primarily due to the expansion of the Wynn Palace Chairman's Club gaming area and renovations of the Wynn Tower [1] Capital Expenditure - Wynn Macau expects capital expenditures for new projects this year to be between $200 million and $250 million [1] Earnings Forecast - Citigroup has lowered its earnings forecasts for the group for 2025 to 2027 by 2% to 8% [1] - The target price remains at HKD 6.75, with a "Neutral" rating maintained [1]