Capital Group Companies Inc increases stake in Wynn Macau

Capital Group Companies Inc has announced it has spent HKD33.4m (US$4.29m) to acquire 4,578,800 shares.

Macau.- Wynn Resorts Macau has reported that Capital Group Companies Inc, one of its shareholders, has acquired 4,578,800 additional shares for nearly HKD33.4m (US$4.29m). As a result, Capital Group’s stock in Wynn Macau has increased from 5.96 per cent to 6.05 per cent.

Last September, the company sold 17,294,000 shares for nearly HKD102.5m (US$13.2m) after Wynn Macau stock lost almost 29 per cent of its worth in a day. The fall had come after the government suggested changes to the current city’s gaming laws amid a public consultation.

Shares of Wynn Macau Ltd rose 11.91 per cent in Hong Kong trading on Monday, part of a broader rally in Macau gaming stocks after the government announced a bill proposing a new gaming regulatory system. Wynn Macau Ltd controls the Wynn Macau gaming resort on the Macau peninsula and Wynn Palace in the city’s Cotai district. The company’s parent company is US-based Wynn Resorts Ltd.

Capital Group Companies Inc had more than US$2.4tn in assets under management at the end of 2020, according to its website.