Wynn Macau Ltd. reported audited consolidated earnings results for the year ended December 31, 2011. For the period, the company reported total operating revenue of HKD 29,498,092,000, operating profit of HKD 5,982,291,000, profit before tax of HKD 5,894,245,000 and net profit attributable to owner of the company of HKD 5,921,013,000 or HKD 1.14 per basic and diluted share against total operating revenue of HKD 22,438,939,000, operating profit of HKD 4,696,933,000, profit before tax of HKD 4,466,103,000 and net profit attributable to owner of the company of HKD 4,422,010,000 or HKD 0.85 per basic and diluted share for the same period a year ago. Adjusted EBITDA was HKD 7,951,286,000 against HKD 5,876,134,000 for the same period a year ago. Net debt at December 31, 2011 was HKD 8,138,980,000 against HKD 6,073,713,000 as on December 31, 2010. Net cash generated from operating activities was HKD 9,417.1 million against HKD 6,878.1 million for the same period a year ago. Net cash generated from operating activities is primarily affected by operating profit generated by its Macau Operations as a result of increased casino revenues, continued costs control, and benefits from changes in working capital. The Group expects it will generate positive cash flows in 2012.