Macau: Wynn to pay debt after results last month

The Company announced a plan to solve the indebtedness and showed good results

Macau.- Wynn board is ready to pay down the indebtedness of the group by conducting an offering of notes. Casino operator Wynn Macau announced the decision this week in order to reduce the 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 debt of the group. 

Wynn Macau also took the opportunity to give a business update for the last weeks. 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 Company is reshaping the West Casino at Wynn Macau: it 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 also expects to open the new restaurants and retail space in the first quarter of 2020.