Zhi Tong Cai Jing·2026-02-13 03:18Group 1 - Wynn Macau's stock dropped over 4%, currently at HKD 5.83 with a trading volume of HKD 40.53 million [1] - Wynn Macau reported its fourth quarter and annual results for the year ending December 31, 2025, with adjusted property EBITDAR for Las Vegas, Wynn Palace, Encore Boston Harbor, and Wynn Macau decreasing by USD 26.6 million, USD 21.1 million, USD 1.8 million, and USD 0.7 million respectively compared to the fourth quarter of 2024 [1] - According to a report from Credit Lyonnais, Wynn Macau's property EBITDA for the fourth quarter of 2025 fell 7% year-on-year to HKD 2.113 billion, aligning with the bank's expectations but falling 10% short of market expectations due to declines in VIP and mass gaming win rates [1] Group 2 - The property EBITDA margin contracted by 3.6 percentage points year-on-year to 28%, which also met the bank's expectations [1] - The company revised its capital expenditure guidance for 2026 down from USD 450-500 million to USD 400-450 million [1]