• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Wynn Macau Ltd gets US$1.5bln loan, day after stock dives

Sep 17, 2021 Newsdesk Latest News, Macau, Top of the deck  


Wynn Macau Ltd gets US$1.5bln loan, day after stock dives

Macau casino operator Wynn Macau Ltd has obtained a revolving loan facility totalling US$1.50 billion, “to refinance certain indebtedness of the group,” and “to fund ongoing working capital needs and for general corporate purposes”, it said in a Friday filing to the Hong Kong Stock Exchange.

By close of Hong Kong trading on Wednesday, Wynn Macau Ltd saw nearly 29 percent of its stock value lost, ending at HKD6.40 (just over US$0.82). The decline coincided with a Macau government announcement on Tuesday about proposed changes to that city’s legal framework for the casino industry, including that the Macau government would need to approve Macau operators’ dividends, and that the government would use a delegate system to supervise each operator.

In Thursday trading, Wynn Macau Ltd’s stock declined further, to end the day at HKD6.10.

In its Friday filing, Wynn Macau Ltd – which runs the Wynn Macau resort (pictured) on the city’s peninsula, and Wynn Palace in the Cotai district – said a Cayman Islands entity wholly-owned by the group, called WM Cayman Holdings Ltd II, had secured the revolver loan in an agreement concluded on Thursday.

It consists of one tranche of US$312.5 million, and another of HKD9.26 billion, with the possibility to “upsize” the total facility by an additional US$1.00 billion or equivalent, subject to “various conditions”.

Bank of China Ltd, Macau Branch, is the agent for the deal which is being provided by a syndicate of banks.

Each loan under the revolving facility, consisting of both United States dollar and Hong Kong dollar tranches, will bear interest at the London Interbank Offered Rate (LIBOR) or Hong Kong Interbank Offered Rate (HIBOR), as applicable, plus a margin of 1.875 percent to 2.875 percent per annum based on the leverage ratio of the WM Cayman II entity, calculated on a consolidated basis.


  • tweet
Related articles
  • Macau premium mass dips, whales make Sept splash: Citi
    Macau premium mass dips, whales make...

    Sep 18, 2023  

  • Wynn Macau Ltd launches brand for events, experiences
    Wynn Macau Ltd launches brand for...

    Sep 14, 2023  

More news
  • GEN Malaysia stable outlook, rebound taking its time: Fitch
    GEN Malaysia stable outlook, rebound...

    Sep 21, 2023  

  • Golden Week Macau GGR to be 17pct up on rest of Oct: MS
    Golden Week Macau GGR to be 17pct up on...

    Sep 21, 2023  


Latest News

GEN Malaysia stable outlook, rebound taking its time: Fitch

GEN Malaysia stable outlook, rebound taking its time: Fitch

Sep 21, 2023  

Fitch Ratings Inc has affirmed the long-term issuer default rating of casino operator Genting Malaysia Bhd at ‘BBB’, an investment grade, according to a memo published on Wednesday. The ratings...
Read More
Golden Week Macau GGR to be 17pct up on rest of Oct: MS

Golden Week Macau GGR to be 17pct up on rest of Oct: MS

Sep 21, 2023  

Philippine Senate committee supports ban on POGOs

Philippine Senate committee supports ban on POGOs

Sep 21, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Genting Malaysia’s revenue rebound has been slower than our expectations, and the impact on leverage has been compounded by Empire’s weak metrics”

Akash Gupta, Shiv Kapoor and Hasira De Silva

Analysts at Fitch Ratings



Most Popular

  • No swift resumption of dividends for most Macau ops: GSNo swift resumption of dividends for most Macau ops: GS September 19, 2023
  • Macau logs 3.2mln visitors in Aug, only 4pct from overseasMacau logs 3.2mln visitors in Aug, only 4pct from… September 20, 2023
  • Sept daily Macau GGR rebounds after storms: brokerageSept daily Macau GGR rebounds after storms: brokerage September 18, 2023
  • Hengqin-Macau tour reboot for mainland consumers: MGTOHengqin-Macau tour reboot for mainland consumers: MGTO September 19, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us