Wynn Macau secures loan facility extension to 2028

Lenders have agreed to extend the maturity date of outstanding loans.

Macau.- Wynn Macau has announced that its lenders have agreed to extend the maturity date of some outstanding loans under an existing revolving facility for three years to September 16, 2028.

In September 2021, the company obtained a revolving loan facility of US$1.5bn to refinance existing debt and for general corporate purposes. The agreement included Wynn Macau and a fully owned subsidiary of the company named WM Cayman II. Bank of China, Macau Branch, was designated as the agent.

On September 12, the casino operator paid an interim dividend of HK$0.075 (US$0.01) per share. The company resumed dividend payments after announcing a 2023 final dividend of HK$0.075 per share in March. In June, the board approved amendments to policy, allowing it to meet semi-annually to consider the declaration of dividends.

The company reported a revenue of US$885.3m for the second quarter of the year. That’s a decline of 11.3 per cent sequentially but a rise of 15 per cent when compared to last year. It also recorded adjusted earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) of US$280.4m, down 17.4 per cent sequentially.

Casino revenue, including non-Asian operations, was down 6 per cent year-over-year at US$129.67m, while overall revenue was up 8.8 per cent at US$628.65m. Adjusted property EBITDAR was up 2.8 per cent to US$230.33m.

Lenders have agreed to extend the maturity date of outstanding loans. Macau.- Wynn Macau has announced that its lenders have agreed to extend the maturity date of some outstanding loans…