THE M3: SO GGR FORECAST; WYNN COTAI

The Macau Metro Monitor, March 5, 2013

CASINO REVENUE GROWTH BELOW 15% IN 2013: AMBROSE SO Macau Business

The CEO of SJM Holdings, Ambrose So, forecasts Macau’s overall casino revenue growth will be 'in the low teens.'

 

WYNN MACAU'S COTAI PROJECT MAY NEED MORE FINANCING Macau Business

Wynn Resorts said it might need to borrow more money to fund its Cotai project, forecast to cost up to US$4 billion (MOP32 billion).  “As our project budget is an estimate only as of the date of this report, we may require additional financing to complete construction of our Cotai project,” Wynn Resorts said in the filing of its annual results.  Wynn Resorts also admitted that the company’s profit might drop if former director Kazuo Okada wins a lawsuit challenging the company’s purchase of his shares.

Okada is still challenging the forcible buyout. He has meanwhile made a request to a Nevada court, that an escrow account be set up to hold the money payable to him by Wynn Resorts from the forcible buyout, totalling US$1.9 billion.