Wynn Macau Ltd name fees to parent capped at US$74.5mln

Jun 30, 2022 Newsdesk Latest News, Macau, Top of the deck  

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Macau casino operator Wynn Macau Ltd and its gaming licence-holding entity Wynn Resorts (Macau) SA will pay at most US$74.5 million this year for the right to use “Wynn”-related trademarks, copyrights and service marks controlled by a unit of the parent, Wynn Resorts Ltd.

Under intellectual property (IP) licence agreements initiated in 2009, the fee payable by the Macau operation to Wynn Resorts Holdings LLC must equal either 3 percent of the intellectual property gross monthly revenues of the Macau business or US$1.5 million per month, whichever sum is greater.

The annual cap on such fees for calendar year 2022 was mentioned in a Wednesday filing to the Hong Kong Stock Exchange.

For 2019, 2020, and 2021, the actual amounts paid by Wynn Macau Ltd and its units under the intellectual property arrangements amounted respectively to US$168.2 million, US$39.9 million, and US$49.6 million.

Wynn Macau Ltd runs the Wynn Macau casino resort on the city’s peninsula and Wynn Palace (pictured) on Cotai.

The firm’s quarterly loss widened to US$188.5 million in the three months to March 31, compared to a loss amounting to US$161.2 million in the prior-year quarter.

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