Wynn Resorts has received approval for a USD1 billion share offering on the Hong Kong stock market of its Macau gambling business, a source familiar with the matter told Agence France-Presse on Monday.
The road show for the sale of a 20 percent stake in Wynn’s Macau casino operations will start on 21st September and the listing is planned for 9th October, the source told AFP.
US casino billionaire Steve Wynn has been looking for funds to expand his business in Macau but was previously deterred by weak stock market conditions.
A pick-up of investor confidence has revived appetite for initial public offerings in Hong Kong recently, with the benchmark Hang Seng Index closing at its highest level in more than a year last Friday.
Wynn’s listing follows a share sale in July of rival firm Sociedade de Jogos de Macau Holdings (SJM), the casino operating company of Dr Stanley Ho.
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