Hotels, Restaurants and Leisure
Company Overview of Wynn Resorts (Macau) S.A.
Wynn Resorts (Macau) S.A. operates a casino resort and hotels in the Macau special administrative region of China. Its amenities include hotel rooms and suites, spa and salon, retail space, fitness centers, pool and cabanas, restaurants, and leisure facilities, as well as facilities for meetings and weddings. The company was founded in 2006 and is based in Macau. Wynn Resorts (Macau) S.A. operates as a subsidiary of Wynn Resorts (Macau), Ltd.
Rua Cidade de Sintra
Founded in 2006
Key Executives for Wynn Resorts (Macau) S.A.
Compensation as of Fiscal Year 2016.
Wynn Resorts (Macau) S.A. Key Developments
The Gaming Inspection and Coordination Bureau of Macau Approves Wynn Palace to Commence Operations on August 22, 2016
Aug 14 16
On 12 August 2016 Wynn Resorts (Macau) S.A. received notification from The Gaming Inspection and Coordination Bureau of Macau (DICJ) that Wynn Palace was approved to commence operations on 22 August 2016. DICJ authorized 100 new table games for operation at Wynn Palace effective 22 August 2016, 25 new table games for operation on 1 January 2017 and 25 new table games for operation on 1 January 2018 for a total of 150 new table games in the aggregate. DICJ also approved 1,145 slot machines for operation at Wynn Palace effective 22 August 2016. In addition, DICJ approved the transfer of 250 table games from Wynn Macau to Wynn Palace. The company plan to transfer approximately 250 tables from Wynn Macau to Wynn Palace, bringing total table games at Wynn Palace to approximately 350 and total table games at Wynn Macau to approximately 270.
Wynn Resorts (Macau) Announces Amendments to its Secured Bank Facilities Agreement
Sep 29 15
On September 30, 2015, Wynn Resorts (Macau) (WRM) and certain members of the Group, entered into the Amended Common Terms Agreement and other related agreements with, among others, Bank of China Limited, Macau Branch, Industrial and Commercial Bank of China (Macau) Limited and Bank of America, N.A. as the main global coordinating lead arrangers and Bank of China Limited, Macau Branch as facilities agent, intercreditor agent and security agent, and a syndicate of lenders, pursuant to which the available commitments under WRM's senior secured bank facilities were increased to $3.05 billion equivalent, representing an increase of $550 million equivalent. WRM's senior secured bank facilities consist of an approximately $2.3 billion equivalent senior secured term loan facility and an approximately $750 million equivalent senior secured revolving credit facility. WRM has the ability to upsize the total senior secured facilities by an additional $1 billion equivalent under the Amended Common Terms Agreement and related agreements upon the satisfaction of various conditions. WRM has satisfied the relevant conditions under the Amended Common Terms Agreement and related agreements, and has made a drawdown request for the entire available commitments under the Term Loan of approximately $2.3 billion equivalent to be funded on September 30, 2015. As at the time of this announcement, the intercreditor agent and the syndicate of lenders are processing the funding of the Term Loan. The Company will monitor progress of the funding and intends to make a further announcement as soon as practicable after the Term Loan is fully funded. The final maturity dates of WRM's senior secured bank facilities have also been extended under the Amended Common Terms Agreement and related agreements. The Term Loan is repayable in graduating installments of between 2.5% to 7.33% of the principal amount on a quarterly basis commencing December 2018, with a final installment of 50% of the principal amount repayable in September 2021. The final maturity of any outstanding borrowings from the Revolving Facility is September 2020, by which time any outstanding borrowings from the Revolving Facility must be repaid. The Term Loan and borrowings under the Revolving Facility, which consists of both United States dollar and Hong Kong dollar tranches, will bear interest at LIBOR or HIBOR plus a margin of 1.50% to 2.25% per annum based on WRM's leverage ratio.
Wynn Resorts (Macau) S.A. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 29 15
Wynn Resorts (Macau) S.A. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net revenues were $617.0 million, a 35.8% decrease from the $960.6 million generated in the second quarter of 2014. Adjusted property EBITDA in the second quarter of 2015 was $173.4 million, down 43.5% from $307.0 million in the second quarter of 2014, due primarily to weakness in the gaming segment. Operating income was $93,347,000 against $217,710,000 a year ago.
For the six months, the company's operating income was $224,293,000 against $502,640,000 a year ago. Adjusted Property EBITDA was $385,733,000 against $691,329,000 a year ago.
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