Wynn Macau has inked new Intellectual Property License Agreements with its parent company, Wynn Resorts. Under the renewed agreement, it will pay a maximum of $150 million for the use of its IP during the 12-month period to 31st December 2025.
The agreement is revised upwards from the $140 million Wynn Macau paid in 2024. The deal covers certain trademarks, domain names, ‘Wynn’ related trademarks, copyrights, and service marks in connection with a variety of goods and services, according to details outlined in a Monday filing,
The 2025 annual cap was determined after negotiations between the parties with reference to the formula used to make such calculations, the historical amounts paid by the group for the licensing of Wynn’s IPs, and the anticipated business and financial performance of the group for the year ending 31st December 2025.
The agreed amount also represents a significant increase since the COVID-19 years. Wynn Macau paid just $25.2 million over intellectual property in 2022, rising to $98.4 million in 2023 and $140 million this year.
Wynn Macau recently reported total operating revenues of $871.7 million in the third quarter of 2024, up 6.3% year-on-year but down 1.5% compared with the June quarter.
Original article: https://www.yogonet.com/international/news/2024/12/13/88349-wynn-macau-to-pay-150-million-for-use-of-wynn-resorts-intellectual-property-in-2025
