S&P flips Wynn Resorts view to positive

S&P said it revised its outlook for Wynn Resorts Ltd. to positive from negative and all its ratings for the company and its subsidiaries.

“Macao's gross gaming revenue (GGR) recovery in 2023 has been faster than we anticipated. As a result, we updated our forecast for mass GGR to improve to 75%-85% of 2019 levels from our previously forecast 60%-70% range.

“Our updated Macao GGR forecast implies that Wynn Resorts Ltd. could reduce leverage below our 6x upgrade threshold by the end of 2023, about a year earlier than we expected,” the agency said in a press release.

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