Casino operator and developer Wynn Resorts Ltd has announced the pricing for a private offering of US$1.8-billion worth of senior notes. The notes bear interest of 5.5 percent and become due in 2025.
Net proceeds from the offering – by Wynn Resorts units Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp – will be used by Wynn Las Vegas LLC to purchase any of the issuers’ outstanding 7.75 percent notes in the principal amount of approximately US$1.23 billion that are due in 2020; and any outstanding 7.875 percent notes in the principal amount of US$377.01 million due in 2020.
Any remaining net proceeds from the offering will be used to redeem any 7.75 percent notes and 7.875 percent notes not tendered. Any residual proceeds after that will be used for general corporate purposes, the parent company said in a filing on Wednesday to Nasdaq.
Jul 15, 2019Pansy Ho Chiu King, co-chairperson and executive director of Macau casino operator MGM China Holdings Ltd, says the city’s six gaming concessionaires should remain in the market amid the process of...
Jul 15, 2019
”For any products that are legally allowed to operate in other countries and regions, the company will not adopt them if the laws of Macau do not allow it and will strictly adhere to the law of Macau”
Chief executive of Macau junket brand Suncity Group