Wynn Resorts subsidiary WRM awarded 10-year Macau gaming concession starting Jan 1, 2023

WYNN RESORTS LTD

WRM granted 10-year concession to operate Wynn Palace and Wynn Macau casinos through Dec 31, 2032.
Annual fixed gaming premium of MOP30M (~$3.7M) plus variable per-table/machine fees; special gaming tax of 35% of GGR.
Committed investment of MOP17.73B (~$2.2B) over 10 years, with MOP16.5B for non-gaming projects.
Approved maximum of 570 gaming tables and 1,100 gaming machines.
WRM will not renew sub-concession to Melco Resorts Macau after Dec 31, 2022.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WYNN RESORTS LTD entered into Gaming Concession Contract with the government of the Macau Special Administrative Region of the People's Republic of China ("Macau") (effective 2022-12-16).

Action: entry
Counterparty: the government of the Macau Special Administrative Region of the People's Republic of China ("Macau")
Effective: 2022-12-16

Exact text from the filing

On December 16, 2022 (Hong Kong time), Wynn Resorts (Macau), S.A. ("WRM"), an indirect subsidiary of Wynn Resorts, Limited, entered into a definitive gaming concession contract (the "Gaming Concession Contract") with the government of the Macau Special Administrative Region of the People's Republic of China ("Macau"), pursuant to which WRM was granted a 10-year gaming concession commencing on January 1, 2023 and expiring on December 31, 2032, to operate games of chance at Wynn Palace and Wynn Macau, the two integrated casino resorts of WRM.

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Source: SEC EDGAR

accession 0001174922-22-000162

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