Wynn Resorts' Cuts Macau Casino Loan

16 Sep 2005

MACAU – As reported by Bloomberg: "Wynn Resorts Ltd., the Las Vegas casino company, this week cut the borrowing cost for its Macau gaming project amid bank demand for investment opportunities in the only place in China where casinos are legal.

"Wynn Resorts' lenders agreed to cut the interest on $764 million of loans to fund its $1.1 billion venture in Macau as banks offered to lend more than it sought. Gaming companies including MGM Mirage and Las Vegas Sands Corp. are spending more than $12 billion on new casinos in the former Portuguese colony near Hong Kong that ended a casino monopoly in 2001.

"…The Wynn Macau loan `sets the benchmark for financing that will follow in the gaming, leisure and property sector in Macau,' said Ashley Wilkins, head of project finance at Societe Generale's Corporate & Investment Banking in Hong Kong.

"Las Vegas-based Wynn will get $744 million from a dual- currency loan arranged by Bank of America Corp., Deutsche Bank AG and Societe Generale. It's also borrowing HK$156 million ($20 million) from Banco Nacional Ultramarino SA, a unit of Caixa Geral de Depositos SA, Portugal's biggest bank, the arrangers said in a news release Sept. 14…"

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	Wynn Resorts' Cuts Macau Casino Loan 16 Sep 2005 MACAU – As reported by Bloomberg: "Wynn Resorts Ltd., the Las Vegas casino company, this week cut the borrowing cost for its Macau gaming project amid bank demand for investment opportunities in the only place in China where casinos are legal. "Wynn Resorts' lenders agreed to cut the interest on $764 million of loans to fund its $1.1 billion venture in Macau as banks offered to lend more than it sought. Gaming companies including MGM Mirage and Las Vegas Sands Corp. are spending more than $12 billion on new casinos in the former Portuguese colony near Hong Kong that ended a casino monopoly in 2001. "…The Wynn Macau loan `sets the benchmark for financing that will follow in the gaming, leisure and property sector in Macau,' said Ashley Wilkins, head of project finance at Societe Generale's Corporate & Investment Banking in Hong Kong. "Las Vegas-based Wynn will get $744 million from a dual- currency loan arranged by Bank of America Corp., Deutsche Bank AG and Societe Generale. It's also borrowing HK$156 million ($20 million) from Banco Nacional Ultramarino SA, a unit of Caixa Geral de Depositos SA, Portugal's biggest bank, the arrangers said in a news release Sept. 14…"