Wynn Macau : Inside Information - Unaudited IFRS Results for the First Quarter ended 31 March 2016 of Wynn Macau, Limited and Unaudited Results for the First Quarter ended 31 March 2016 of our Controlling Shareholder, Wynn Resorts, Limited

164916 Eng.indd

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1128 and Debt Stock Code: 5983) INSIDE INFORMATION UNAUDITED IFRS RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2016 OF WYNN MACAU, LIMITED AND UNAUDITED RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2016 OF OUR CONTROLLING SHAREHOLDER, WYNN RESORTS, LIMITED

This announcement is issued pursuant to Rule 13.09 and 37.47B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and under Part XIVA of the Securities and Futures Ordinance (Cap. 571).

The Board of Directors of Wynn Macau, Limited is pleased to announce the unaudited consolidated results of the Company and its subsidiaries prepared in accordance with IFRS for the first quarter ended 31 March 2016.

Our controlling shareholder, Wynn Resorts, Limited has, on or about 5 May 2016 (1:13 p.m., Las Vegas time), released its unaudited results for the first quarter ended 31 March 2016.

This announcement is issued by Wynn Macau, Limited ("we" or our "Company") pursuant to Rule

13.09 and 37.47B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and under Part XIVA of the Securities and Futures Ordinance (Cap. 571).

Consolidated Financial Results for Wynn Macau, Limited

The Board of Directors of Wynn Macau, Limited is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the "Group") prepared in accordance with International Financial Reporting Standards ("IFRS") for the first quarter ended 31 March 2016 (the "WML Results").

* For identification purposes only.

WYNN MACAU, LIMITED CONDENSED CONSOLIDATED INCOME STATEMENT

(amounts in US$ thousands) (unaudited)

For the Three Months Ended 31 March

2016	2015
Operating revenues Casino	$ 570,162	$ 662,867
Rooms	5,136	3,349
Food and beverage	7,422	7,216
Retail leases and other	25,523	31,924
Total operating revenues	608,243	705,356
Operating costs and expenses Gaming taxes and premiums	271,656	323,085
Staff costs	110,957	100,008
Other operating expenses	93,951	117,172
Depreciation and amortization	29,211	33,877
Property charges and other	635	(588)
506,410	573,554
Operating profit	101,833	131,802
Finance revenues	1,799	1,933
Finance costs	(18,949)	(18,157)
Net foreign currency differences	(484)	1,133
Changes in fair value of interest rate swaps	(1,825)	(4,609)
(19,459)	(19,700)
Profit before tax	82,374	112,102
Income tax expense	(484)	(485)
Net profit attributable to owners of the Company	$ 81,890	$ 111,617

Earnings Release for Wynn Resorts, Limited

Our Company's controlling shareholder, Wynn Resorts, Limited, is a company listed on the National Association of Securities Dealers Automated Quotations ("NASDAQ") in the United States. As at the date of this announcement, Wynn Resorts, Limited beneficially owns approximately 72% of the issued share capital of our Company.

Wynn Resorts, Limited has, on or about 5 May 2016 (1:13 p.m., Las Vegas time), released its unaudited results for the first quarter ended 31 March 2016 ("Earnings Release"). If you wish to review the Earnings Release prepared by Wynn Resorts, Limited and as filed with the U.S. Securities and Exchange Commission, please visit https://www.sec.gov/Archives/edgar/data/1174922/000117492216000178/0001174922-16-000178-index.htm. The Earnings Release contains segmented financial information about the Macau operations of Wynn Resorts, Limited, which Macau operations are owned by our Company. The Earnings Release is also available in the public domain.

The financial results of Wynn Resorts, Limited, including those contained in the Earnings Release, have been prepared in accordance with Generally Accepted Accounting Principles of the United States ("US GAAP"), which are different from IFRS. We use IFRS to prepare and present our financial information. As such, the financial information in the Earnings Release is not directly comparable to the financial results our Company discloses as a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. In particular, Average Daily Rate ("ADR") and Revenue Per Available Room ("REVPAR") as presented in the Earnings Release are based on room revenues as reported under US GAAP, which include associated promotional allowances within room revenues. Under US GAAP, promotional allowances are deducted from gross revenues in presenting net revenue. Under IFRS, room revenues exclude such promotional allowances.

Our shareholders and potential investors are advised that the financial results in the Earnings Release are unaudited and have not been prepared or presented by our Company and there is no indication or assurance from our Company that the financial results of our Group for the three months ended 31 March 2016 will be the same as that presented in the Earnings Release.

To ensure that all our shareholders and potential investors have equal and timely access to the information pertaining to our Company, set forth below are the key highlights of financial and other information published by Wynn Resorts, Limited in the Earnings Release that relate to our Company and our operations in Macau (unless otherwise provided, all dollar amounts in the Earnings Release are denominated in United States dollars), some of which may constitute material inside information of the Company:

"Wynn Resorts, Limited Reports First Quarter 2016 Results

Net revenues for the first quarter of 2016 were $997.7 million, compared to $1.09 billion in the first quarter of 2015. The decline was the result of a 13.8% decrease from our Macau Operations, partially offset by a 0.7% increase from our Las Vegas Operations. Adjusted Property EBITDA (1) was $300.3 million for the first quarter of 2016, a 7.0% decrease from $323.0 million in the first quarter of 2015.

On a US GAAP basis, net income attributable to Wynn Resorts, Limited for the first quarter of 2016 was $75.2 million, or $0.74 per diluted share, compared to a net loss attributable to Wynn Resorts, Limited of $44.6 million, or $0.44 per diluted share, in the first quarter of 2015.

Macau Operations

In the first quarter of 2016, net revenues were $608.2 million, a 13.8% decrease from the $705.4 million generated in the first quarter of 2015. Adjusted Property EBITDA in the first quarter of 2016 was $191.2 million, down 9.9% from $212.3 million in the first quarter of 2015.

Table games turnover in the VIP segment was $13.47 billion for the first quarter of 2016, a 21.4% decrease from $17.13 billion in the first quarter of 2015. VIP table games win as a percentage of turnover (calculated before commissions) for the quarter was 2.81%, within the expected range of 2.7% to 3.0% and flat compared to the 2.80% experienced in the first quarter of 2015. The average number of VIP tables decreased to 189 units in the first quarter of 2016 from 252 units in the first quarter of 2015.

Commencing in the second quarter of 2015, the Company determined that it will include the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage in the calculation of table drop in accordance with standard Macau industry practice. Table drop in the mass market segment was $1.21 billion in the first quarter of 2016, down 5.6% from the 2015 first quarter. Table games win in the mass market segment decreased by 11.5% to $247.5 million in the first quarter of 2016. The mass market table games win percentage of 20.5% in the first quarter of 2016 was below the 21.8% experienced in the first quarter of 2015.

Slot machine handle for the first quarter of 2016 increased 5.5% from the 2015 period to

$1.10 billion, and slot win increased by 5.6% to $50.4 million.

During the first quarter of 2016, total non-casino revenues, before promotional allowances, decreased 13.2% to $76.7 million. We achieved an average daily rate ("ADR") of $324, down 2.1% compared to the $331 reported in the 2015 first quarter. Occupancy at Wynn Macau was 94.8%, down from 97.5% in the prior-year period. Revenue per available room ("REVPAR") decreased 5.0% to $307 in the 2016 quarter from $323 in last year's first quarter.