Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
WYNN RESORTS LTD entered into Property Transfer Agreements with Macau government valued at Annual amount based on MOP750 per square meter for first year (March 2023), MOP2,500 per square mete (effective 2022-12-30).
- Action
- entry
- Counterparty
- Macau government
- Value
- Annual amount based on MOP750 per square meter for first year (March 2023), MOP2,500 per square mete
- Effective
- 2022-12-30
Exact text from the filing
On December 30, 2022 (Hong Kong time), Wynn Resorts (Macau) S.A ("WRM") and Palo Real Estate Company Limited ("Palo"), indirect subsidiaries of Wynn Resorts, Limited entered into the property transfer agreements (the "Property Transfer Agreements") with the government of the Macau Special Administrative Region of the People’s Republic of China ("Macau"), pursuant to which: (i) WRM and Palo will revert the casino areas (the “Casino Areas”) in Wynn Macau and Wynn Palace as designated by the Gaming Inspection and Coordination Bureau of Macau and the relevant gaming equipment to the Macau government without compensation and free of encumbrance on December 31, 2022 pursuant to the Macau Law No. 16/2001 (the “Macau Gaming Law"), as amended by Law No. 7/2022 and the gaming concession contract entered into between WRM and the Macau government on 24 June 2002; and (ii) upon the above reversion of the Casino Areas and the relevant gaming equipment to the Macau government, the Macau government ha
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