{"id":8325,"date":"2022-11-30T00:00:00","date_gmt":"2022-11-30T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/wynn-macau-ltd-to-inject-us596mln-into-macau-unit\/"},"modified":"2022-11-30T00:00:00","modified_gmt":"2022-11-30T00:00:00","slug":"wynn-macau-ltd-to-inject-us596mln-into-macau-unit","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/wynn-macau-ltd-to-inject-us596mln-into-macau-unit\/","title":{"rendered":"Wynn Macau Ltd to inject US$596mln into Macau unit"},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span lang=\"EN-US\" style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Hong Kong-listed Wynn Macau Ltd says&nbsp;it will inject nearly MOP4.80 billion (US$596.4 million) into Wynn Resorts (Macau) SA. That is in order to comply with Macau&rsquo;s revised gaming law and the threshold set for the new generation of Macau gaming concessions, said the firm in a Sunday filing. The local unit has also been awarded&nbsp;a new, 10-year concession, as part of the city&rsquo;s public tender to award new casino rights.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span lang=\"EN-US\" style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">In Sunday&rsquo;s filing, Wynn Macau Ltd said &ldquo;in order to enter into a new gaming concession contract&rdquo; with the Macau government, Wynn Resorts (Macau) &ldquo;will conduct a capital restructuring&rdquo; so that the latter&rsquo;s registered capital is increased from MOP200.1 million to MOP5.0 billion.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span lang=\"EN-US\" style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">As part of the restructuring of the local unit, Linda Chen&rsquo;s voting rights through her Class A nominative shares will be increased to 15 percent, from the current 10 percent. &nbsp;Macau&rsquo;s amended gaming law requires that at least &ldquo;15 percent&rdquo; of the gaming concession entity&rsquo;s share capital has to be held by a &ldquo;managing director&rdquo; who is a Macau permanent resident.<\/span><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>That is in order to comply with Macau\u2019s revised gaming law and the threshold set for the new generation of Macau gaming concessions<\/p>\n","protected":false},"author":1,"featured_media":5727,"menu_order":302,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4214],"class_list":{"0":"post-8325","1":"asia","2":"type-asia","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-wynn-macao-concession-casino-winner-bid-concession-macao-linda-chen","8":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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