MGM Resorts has expressed an interest in buying Wynn Resorts through back-channel approaches, the New York Post reported, citing unnamed sources.
Wynn Resorts is not on the block, but the newspaper cited one source close to the situation as saying the company’s new CEO would sell if he got the right price. “I think if the Wynn CEO [Matt Maddox] gets his deal, he’ll sell,” a source close to a large gaming company said, adding that he believes there is a 50 percent chance MGM reaches a deal within the next several months.
The article also cited a source close to former CEO Steve Wynn and a gaming banker as saying they believe MGM may be interested in acquiring the company.
The article doesn’t mention the fact that Steve Wynn recently sold his stake in the operator, with Macau-based Galaxy Entertainment Group buying an almost 5 percent stake.
In public statements, MGM CEO Jim Murren said in February that his company is unlikely to make a serious bid for Wynn.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.