Wynn Macau Limited completed the credit expansion on July 31st, 2025. The Hong Kong-listed company operates casino resorts in the Macau gaming market.
Bank of China Limited, Macau Branch, serves as the agent for the facility agreement. The bank has maintained this role since the original 2021 arrangement.
A group of accordion lenders selected by WM Cayman II provided the additional $1 billion. These lenders joined the existing syndicate under predetermined terms.
Dr. Allan Zeman chairs Wynn Macau’s board of directors. The company’s executive team includes Craig S. Billings and other directors listed in regulatory filings.
The company used an accordion provision built into its existing facility agreement. This mechanism allows borrowers to increase credit lines without full renegotiation of terms.
Wynn Macau’s facility agreement has undergone multiple modifications since its inception. The original agreement was signed in September 2021 with the Bank of China and syndicate lenders.
The company amended the facility in May 2022. Additional changes occurred through an amendment and restatement in June 2023.
A further extension was completed in September 2024. These repeated adjustments indicate ongoing refinement of the company’s financing structure.
The additional $1 billion increases total senior unsecured revolving credit to $2.5 billion equivalent. WM Cayman II gains access to the expanded credit line.
The facilities maintain their senior unsecured status. This means they rank ahead of subordinated debt but don’t require specific asset collateral.
Accordion fees apply to the transaction under customary terms. WM Cayman Holdings Limited II will pay these fees to participating lenders.
The revolving nature allows funds to be drawn and repaid repeatedly. This provides operational flexibility compared to term loans with fixed repayment schedules.
The increased facility provides additional liquidity for Wynn Macau’s operations. Revolving credit facilities serve as backup funding sources for working capital needs.
Macau casino operators face regulatory requirements and operational challenges. Additional credit capacity helps companies manage cash flow variations and unexpected expenses.
The accordion structure was pre-negotiated in the original facility agreement. This allowed for expansion without starting new credit negotiations from scratch.
Bank of China’s continued involvement demonstrates the banking relationship’s stability. The Chinese bank maintains its agent role despite the facility’s growth to $2.5 billion.
Wynn Macau issued standard regulatory warnings about share trading. Hong Kong listing rules require such cautions when companies announce material financial arrangements.
The credit expansion occurs as Macau’s gaming industry continues operating under updated regulatory frameworks and varying tourism levels.
In April 2025, Wynn Macau signed a Memorandum of Understanding with the Association for Talent Development (ATD), which outlined a three-year partnership focused on developing professional talent and supporting industry exchange in Macau.
