Key Developments For Wynn Resorts, Limited
Wynn Resorts, Limited (WYNN.O) (Nasdaq)
Wynn Resorts, Limited Declares Special Cash Dividend and Announces Board Approval Of Regular Cash Dividend Commencing In 2010
Wynn Resorts, Limited announced that its Board of Directors declared a special cash dividend of $4.00 per share on its outstanding common stock. This dividend will be payable on December 3, 2009, to stockholders of record on November 19, 2009. The stock will begin to trade ex-dividend on November 17, 2009. The Company's Board of Directors also approved the commencement of a regular cash dividend program, beginning in 2010. It is currently anticipated this regular cash dividend will be $0.20 per share of common stock for the first quarter of 2010, payable in the second quarter of 2010.
Wynn Resorts, Limited Announces Pricing Of Private Offering Of $500,000,000 Aggregate Principal Amount Of Wynn Las Vegas First Mortgage Notes Due 2017
Wynn Resorts, Limited announced the pricing by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (the issuers), each a direct or indirect wholly owned subsidiary of Wynn Resorts, Limited, of $500,000,000 aggregate principal amount of new 7.875% First Mortgage Notes due 2017. The notes will be issued at a discount of 97.823% of par. The notes will be offered only to qualified institutional buyers and outside the U.S. in accordance with Rule 144A and Regulation S, respectively, under the Securities Act of 1933. Wynn Las Vegas, LLC plans to use the net proceeds of the offering to repay amounts outstanding under its revolving credit facilities and term loan facility. The notes will be senior secured obligations of the issuers, will be guaranteed by certain of Wynn Las Vegas, LLC`s subsidiaries and will be secured by a first priority lien on substantially all of the existing and future assets of the issuers and guarantors and, subject to approval from the Nevada Gaming Commission, a first priority lien on the equity interests of Wynn Las Vegas, LLC, all of which is the same collateral that secures borrowings under Wynn Las Vegas, LLC`s credit facilities and the existing notes.
Wynn Resorts, Limited Prices Hong Kong IPO
Wynn Resorts, Limited announced that Wynn Macau, Limited, a newly formed and indirect wholly owned subsidiary of Wynn Resorts, Limited and a developer, owner and operator of destination casino gaming and entertainment resort facilities focused exclusively on Macau, has determined the price for its proposed offering of 1,250,000,000 ordinary shares of Wynn Macau, Limited. The offering price is HKD10.08 (equivalent to approximately USD1.30) per share, representing proceeds of approximately USD1.6 billion and 25% of the post-issuance capital base of Wynn Macau, Limited. The offering is expected to close on or about October 9, 2009, subject to the satisfaction of customary closing conditions.
Wynn Resorts, Limited To Seek $1.6 Billion Hong Kong Listing Of Its Macau Assets-WSJ
The Wall Street Journal reported that Wynn Resorts, Limited will seek as much as HKD12.6 billion (USD1.6 billion) for a Hong Kong listing of the Company's Macau assets next month. Listing is scheduled for October 9, 2009. The Company has set a price range of between HKD8.52 and HKD10.08 per share for the IPO. The Company is offering 1.25 billion shares, equivalent to 25% of the equity of Wynn's Macau operations. The Company had earlier been expected to raise about USD1 billion in its offering.
Wynn Resorts, Limited To List Macau Assets In Hong Kong-DJ
Dow Jones reported that Wynn Resorts, Limited will list its Macau casino operations in Hong Kong on October 9, 2009. Wynn Resorts, Limited plans to sell a 20% stake in Wynn Macau by selling 3.75 billion new shares. Wynn Resorts, Limited has an option to sell additional 563 million shares depending on demand.
