Wynn Macau sees stronger October results, issues notes

Casino operator Wynn Macau has announced it is preparing to conduct an offering of notes, which will be used to pay down amounts outstanding under the Wynn Macau Credit Facilities. 

At the moment, the aggregate principal amount, terms and conditions of the notes have not been determined, but the Wynn board said it believes it would lead to a reduction in the secured indebtedness of the group. 

As part of the notes issue, Wynn Macau also took the opportunity to give a business update for the month ending October 31, 2019. 

For the month of October, the group expects operating revenues of Wynn Resorts’ Macau operators to be in the range of US$421.6 million to US$430.1 million, up from US$403.4 million in the prior-year period. 

It also expects adjusted property EBITDA to be up between 19.8 and 22.2 percent, from US$113.4 million in October 2018. 

The group said it is currently reconfiguring the West Casino at Wynn Macau, which will consist of 44 mass-market table games, a refurbished high-limit slot area, two new restaurants and approximately 7,000 square feet of retail space. 

It expects to open the new restaurants and retail space at varying times in December 2019 and the first quarter of 2020.