Casino operator Wynn Resorts is focusing hard on its shiny new interactive division while its land-based operations remain in a COVID coma.  

Figures released Thursday show Wynn generated revenue of $370.5m in the three months ending September 30, a 77.5% decline from the same period last year. Wynn reported negative earnings of nearly $66m versus a positive $397m in Q3 2019 while booking a net loss of $758.1m (although $407.4m of this was a tax provision).  

In Macau, the Wynn Macau resort saw revenue fall 89.2% to $51.4m, resulting in negative earnings of $34.5m. The situation was even worse at Wynn Palace, where revenue tumbled 97.4% to just $15.7m for an earnings loss of $77.6m.

While both properties suffered from steep declines in the market’s VIP gambling turnover, Wynn Palace suffered doubly due to its VIP win rate falling to just 1.04%, well below the expected range of 2.7-3.0%, while Wynn Macau’s rate hit an outsized 3.95%. Both properties also reported mass table win declines.