CASINOS EYE RECORD REVENUE AS BEIJING EASES MACAU VISA RULES scmp.com
The mainland has relaxed restrictions for its citizens from Guangdong travelling to Macau, which has resulted in a strong showing so far for September and big hopes for October, according to two unnamed “top executives at two of the market’s six casino licensees” cited by the SCMP. The sources also stated that the authorities began to ease restrictions as early as two months ago. Currently, citizens of Guangdong can travel to Macau once a month. One of the sources claimed that October could see monthly casino revenues soar to a record high, partly due to the relaxation of visa restrictions.
WYNN EXPANDS MACAU SHARE OFFERING BY 25% scmp.com
The size of Wynn’s upcoming IPO in Hong Kong for its Macau unit has been increased by about 25%, seeking to raise up to US$1.6billion. The move comes after positive feedback from investors; the company is now willing to sell 25% of the division, up from the 20% originally intended for sale. The price range of the offer is expected to be HK$8.52-HK$10.08 per share, with at least 1.25 billion shares being sold.
In the prospectus for the IPO, Wynn stated that Encore at Wynn Macau is scheduled to open in the first half of next year.
WYNN SECURES PLEDGES OF $250M FOR HONG KONG IPO ft.com
Wynn Resorts has secured commitments of $250m for its upcoming IPO from cornerstone investors including Hong Kong tycoons Walter Kwok and Thomas Lau. Quek Leng Chan, the Malaysian billionaire, is also on the list, according to people close to the transaction.
Las Vegas Sands is planning its own Hong Kong listing of its Macau casinos later this year.