Macau casino operator Wynn Macau has announced the issuance of US$750 million 5.5 percent senior notes due 2026.
Net proceeds from the notes offering is expected to be approximately US$743.1 million, which will be used for “general corporate purposes until business recovers from the effects of the COVID-19 pandemic” and then to facilitate the repayment of a portion of the amounts outstanding under the Wynn Macau Credit Facilities.
The Wynn Macau board said they believe that the move would extend the maturity profile of the group’s indebtedness and reduce the group’s secured indebtedness.
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.