Wynn Resorts Raising Funds Via Secondary Listing on Hong Kong Exchange
This is just breaking over the wires. Via Reuters.
U.S. casino giant Wynn Resorts Ltd (WYNN.O: Quote, Profile, Research) is considering a Hong Kong share sale to raise as much as $3 billion to help fund the firm's planned mega resort in the former Portuguese enclave of Macau, a newspaper reported on Thursday.
The secondary listing's profits will be used to pay for Wynn Cotai, would that mean that the property would be under a separate corporate entity?
It's a pretty slick move, if it works.