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Wynn to Draw Down Part of $850 Million Line Amid Virus Pain

Pedestrians wearing protective masks walk in front of the Wynn Macau casino resort in Macau, China, on March 3. 

Pedestrians wearing protective masks walk in front of the Wynn Macau casino resort in Macau, China, on March 3. 

Photographer: Billy H.C. Kwok/Bloomberg
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Wynn Resorts Ltd. is planning to draw down a portion of its $850 million revolving credit line as the casino operator grapples with the coronavirus pandemic’s impact on its revenues, according to people with knowledge of the matter.

The company is seeking to shore up its balance sheet as broader market uncertainty grows, said the people, who asked not to be identified because the matter is private. A Wynn spokesman declined to comment. Affiliates of Deutsche Bank AG and Goldman Sachs Group Inc. are among Wynn’s revolving credit facility lenders.