Wynn to Float Macau Casino Arm on The Hong Kong Stock Exchange

Posted on July 21st, 2009

Wynn resorts is planning to raise a sum approaching $1 billion on the Hong Kong stock exchange by spinning off its Macau casino arm. The move was widely expected, as Las Vegas Sands made a similar announcement not long ago.

The Hong Kong stock exchange has seen a flurry of activity recently after a lax year in 2008. Both casino groups are weighed down by huge debts and they have big construction commitments in Macau and across the world.

The 2 groups will probably use the funds to pay off debt in their Las Vegas operations – there is sure to be a good demand for these stocks in Hong Kong which lies just over the Pearl River delta. Macau is the biggest casino town on the planet and seems to be heading out of the crisis far more rapidly than Las Vegas.

Topics casino industry Macau Market News

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