Wynn Macau gets US$1.5bn credit facility

Wynn Macau has announced it has obtained a revolving loan facility of US$1.5bn to refinance existing debt and for general corporate purposes.

Macau.- Wynn Resorts Macau has reported it has obtained a US$1.5bn revolving credit facility in order to renegotiate existing obligations and for general corporate purposes. The company announced the facility loan will comprise one tranche of US$312.5m and one of HKD9.26bn. 

The loans will be made accessible to Wynn’s WM Cayman II unit, which likewise can level up the credit by a further US$1bn. The last development of all remarkable credits under the Revolving Facility is 16 September 2025.

Wynn Macau posts net loss of US$116.6m for Q2

Wynn Resorts Macau reported US$116.6m in net losses for the second quarter of the year. Property earnings before interest, taxation, depreciation and amortisation (EBITDA) grew 54 per cent to US$67.6m.

The latter figure represented an improvement from the negative EBITDA of US$193.6m in Q2 2020 and marks the third consecutive quarter of positive property EBITDA.

Operating revenues from the two Wynn casinos in Macau reached US$354.5m, up 9.1 sequentially. Aggregate mass-market table was US$1.38m, up 14.8 per cent sequentially.

Wynn’s VIP turnover was down 17.5 per cent when compared to the previous quarter. The company gained nearly US$111m from its VIP table games, down 28.5 per cent sequentially.