Wynn Resorts Sale to PBL 

Wynn Resorts announced today that they have completed the sale of their subconcession rights to an affiliate of Publishing and Broadcasting Limited (PBL). The right allows the PBL affiliate to receive a subconcession from the Macau Special Administration Region (SAR) of the People’s Republic of China to hold gaming operations in Macau.  

The sale was for $900 million, and Steve Wynn, Chairman and CEO of Wynn Resorts said, “With the government of the Special Administration Region, we believe that PBL will make a positive contribution to the future of Macau. We also recognize that the growth of healthy tourism in this city is the result of the wisdom of the Central Government's policy of 'One Country Two Systems.' Today's progress is a direct result of that policy." 

Wynn Resorts, a publicly traded company on Nasdaq, opened in September of this year a casino resort in Macau, that has a hotel with deluxe rooms and suites, table games, restaurants, and 380 slot machines in roughly 100,000 square feet of casino gaming space. It also has a spa, retail stores, etc., everything the discerning traveler and slot machine player might want in a vacation. 

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