Wynn Resorts Announces Early Results and Upsizing of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025
23 Agosto 2023 - 5:08PM
Business Wire
Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts”) today
announced the early results and upsizing of the previously
announced tender offer (the “Tender Offer”) by its indirect
wholly-owned subsidiary, Wynn Las Vegas, LLC, to purchase a portion
of Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp.’s
outstanding 5.500% Senior Notes due 2025 (the “Notes”). Wynn Las
Vegas, LLC has amended the terms of the Tender Offer to increase
the aggregate principal amount of Notes subject to the Tender Offer
(the “Tender Cap”) from $300,000,000 to $400,000,000. The Tender
Offer is subject to the terms and conditions set forth in the Offer
to Purchase dated August 10, 2023 (as amended by this press release
and as it may be further amended or supplemented from time to time,
the “Offer to Purchase”).
The following table sets forth, among other things, the
principal amount of Notes validly tendered and accepted for
purchase as of 5:00 p.m., New York City time, on August 23, 2023
(such date, the “Early Tender Date”):
Title of Notes
CUSIP Numbers
Aggregate Principal Amount
Outstanding
Tender Cap (as amended)
Principal Amount Tendered at Early
Tender Date
Principal Amount Accepted for
Purchase
5.500% Senior Notes due 2025
983130 AV7
U98347 AK0
$1,780,000,000
$400,000,000
$684,014,000
$400,000,000
Since the aggregate principal amount of the Notes validly
tendered and not validly withdrawn at or prior to the Early Tender
Date exceeds the Tender Cap (as amended), Notes tendered after the
Early Tender Date will not be accepted for purchase and the
principal amount of the Notes accepted for purchase were prorated,
on the terms and subject to the conditions of the Tender Offer, to
the Tender Cap (as amended). Withdrawal and revocation rights
expired at 5:00 p.m., New York City time, on August 23, 2023. Notes
that have been tendered may no longer be withdrawn.
All Notes validly tendered (and not validly withdrawn) at or
prior to the Early Tender Date and accepted for purchase will be
purchased by Wynn Las Vegas, LLC on the “Early Settlement Date,”
which is currently expected to occur on August 24, 2023. Payment
for the Notes that are purchased will include accrued and unpaid
interest from the last interest payment date to, but excluding, the
Early Settlement Date.
This press release does not constitute an offer to purchase or
the solicitation of an offer to sell the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Deutsche Bank Securities Inc. and Scotia Capital (USA) Inc. are
the dealer managers for the Tender Offer. Persons with questions
regarding the Tender Offer should contact Deutsche Bank Securities
Inc. by telephone at (855) 287-1922 (U.S. toll-free) and (212)
250-7527 (collect) or Scotia Capital (USA) Inc. by telephone at
(833) 498-1660. Requests for copies of the Offer to Purchase should
be directed to D.F. King & Co., Inc., the tender and
information agent for the Tender Offer, at wynn@dfking.com, by
telephone at (800) 628-8538 (U.S. toll free) and (212) 269-5550
(banks and brokers) or in writing at D.F. King & Co., Inc., 48
Wall Street, 22nd Floor, New York, NY 10005, Attention: Michael
Horthman.
Forward-Looking Statements
This release contains forward-looking statements, including
those related to the tender for Notes and whether or not Wynn Las
Vegas, LLC will consummate the Tender Offer. Such forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those we
express in these forward-looking statements, including, but not
limited to, adverse macroeconomic conditions and their impact on
levels of income and consumer discretionary spending, changes in
interest rates, inflation, a decline in general economic activity
or recession in the U.S. and/or global economies, uncertainty
surrounding the pace of recovery of tourism and travel in Asia
following the COVID-19 pandemic, extensive regulation of our
business, pending or future legal proceedings, ability to maintain
gaming licenses and concessions, dependence on key employees,
general global political conditions, adverse tourism trends,
dependence on a limited number of resorts, competition in the
casino/hotel and resort industries, uncertainties over the
development and success of new gaming and resort properties,
construction risks, cybersecurity risk and our leverage and debt
service. Additional information concerning potential factors that
could affect Wynn Resorts’ financial results is included in Wynn
Resorts’ Annual Report on Form 10-K for the year ended December 31,
2022, as supplemented by Wynn Resorts’ other periodic reports filed
with the Securities and Exchange Commission from time to time.
Neither Wynn Resorts nor Wynn Las Vegas, LLC are under any
obligation to (and expressly disclaim any such obligation to)
update or revise their forward-looking statements as a result of
new information, future events or otherwise, except as required by
law.
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Price Karr 702-770-7555 investorrelations@wynnresorts.com
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