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Wynn Palace strong but Wynn Macau revenue down in 4Q18

first_img RelatedPosts Load More Wynn Resorts has reported mixed results from its Macau operations in the three months to 31 December 2018, with Wynn Palace leading the company into the black with a 12.8% revenue increase to US$740.6 million while Wynn Macau saw revenue fall 5.2% to US$553.4 million.Casino revenues from Wynn Palace were US$636.9 million in 4Q18, up 12.3% year-on-year, led primarily by an improved performance in the mass market and higher win rate in VIP. Strong VIP growth sees Okada Manila GGR climb 72% in August Wynn Resorts to undergo internal restructure as part of refinancing plan VIP turnover was flat for the period at US$16.16, although win rate increased from 3.02% in 4Q17 to 3.25%. On the other hand, mass table drop increased 15.6% to US$1.3 billion, resulting in a 16.2% increase in mass table win to US$307.4 million. Slot machine handle also increased 9.9% to US$920.6 million with win of US$57.6 million, while non-gaming revenues climbed 15.7% to US$103.6 million.Adjusted Property EBITDA from Wynn Palace was US$226.6 million for the fourth quarter of 2018, a 19.2% increase from US$190.1 million for the same period of 2017.At Wynn Macau, revenue was down on the back of a substantial 18.2% decrease in VIP turnover to US$12.78 billion, which compared with turnover of US$15.62 billion in 4Q17.Mass table drop at Wynn Macau held steady at US$1.26 billion although better luck saw an 11.2% increase in mass GGR to US$255.7 million. Slot machine handle fell 6.3% to US$878.4 million but slot win grew 8.8% to US$44.4 million, while non-gaming revenues remained flat at US$74.4 million.Wynn Macau’s Adjusted Property EBITDA declined 9.9% to US$167.6 million.Company-wide revenue for Wynn Resorts rose 4.0% in 4Q18 to US$1.69 billion thanks to the US$84 million increase in GGR at Wynn Palace and a US$11.7 million improvement in Las Vegas operations. Wynn Resorts shares favored over Wynn Macau: analystslast_img read more

Oculus cofounders exit is latest in string of Facebook departures

first_img Tags Post a comment Mitchell was the head of virtual reality products at Facebook, which purchased Oculus for $3 billion. The Oculus team at Facebook has grappled with a number of woes, including a lawsuit and executive turnover, as it tries to make virtual reality more mainstream. Facebook bought Oculus because it envisions a future in which Facebookers will be able to share moments with their friends and family as if they’re all together in person. Co-founders at other companies Facebook purchased have also left the social media giant in recent years. That list includes Instagram co-founders Kevin Systrom and Mike Krieger, WhatApp’s Brian Acton and Jan Koum and Oculus co-founder Palmer Luckey. The Instagram co-founders reportedly clashed with Facebook CEO Mark Zuckerberg.Mitchell said he’ll be spending time with family and taking time to travel. His departure also comes before Oculus Connect 6, a virtual reality developer conference that kicks off in San Jose, California, at the end of September. Oculus co-founder Nate Mitchell James Martin/CNET Facebook can’t seem to hold onto the founders of the companies it acquires.The latest departure: Nate Mitchell, co-founder of the virtual reality startup Oculus, which launched in 2012 and was bought by Facebook in 2014. Mitchell, the last Oculus co-founder still at Facebook, said Tuesday that he was stepping down.”Virtual reality is still on the bleeding edge of technology, and this community continues to pioneer the way forward,” he wrote in a post on Reddit. “What’s ahead is always unknown, and that’s what makes it exciting.” Some bittersweet news to share. After 7 incredible years at Oculus / Facebook, I’m moving on. It’s been a privilege to be a part of the VR community, and I can’t wait to see what comes next: https://t.co/M3XWASigvS pic.twitter.com/dhzPrdmpuP— Nate Mitchell (@natemitchell) August 13, 2019 0 Sci-Tech Tech Industry Share your voice Oculus Facebooklast_img read more

All they have is humour

first_imgYou decide what you watch. That is the funda behind  Humour Me’s Improv Nights. Here audience is the king as artistes will improvise on the spot in order to entertain you. Their one-hour performance on Sunday saw an entertaining stand-up performance where they improvised on the spot, spontaneously without any pre-written script. The audience drove the theme of each segment of the show. Humour Me is a group of four performers and one host. The artistes performing at Improv Nights are Dhruv Sachdeva, Clifford Alfonso, Andrew Hoffland, Pranay Manchanda and Shantanu Anam. Also Read – ‘Playing Jojo was emotionally exhausting’Dhruv Sachdeva takes up the role of the host and is also the founder of Humour Me and has been in the entertainment world for the past 10 years. He started his acting career with the role of Scar in the musical Circle of Life which is an adaptation of the Broadway musical The Lion King’ Last year, Dhruv produced and acted in the production The Character of a Happy Life. And most recently, wrote, directed and acted in an original musical theatre production Also Read – Leslie doing new comedy special with NetflixDinner for Pricks, under the Humour Me banner.So the audience gives them a situation or a scene to enact, and they perform it on the spot — with sound effects and even mimicry et al in place.‘We basically perform as per the demand of the audience which includes different dance forms like rap, conventional etc and various music genres too,’ said Dhruv.Clifford started years back with the musical production Noah’s Ark. Andrew Hoffland, oldest of all the performers, works as a teacher and has been singing and acting in various theatrical and musical productions. Pranay Manchanda has been an actor for over 15 years, and has worked in theatre.Shantanu Anam has worked as is an actor from the age of 16, and has acted and directed several theatre productions. ‘We are here to deliver happiness, not shoes. If we don’t stick in your mind, we consider we have have failed,’ said Dhruv. Fair enough!DETAILAt: Lure Switch, Lado Sarai when: 23 Decemberlast_img read more