Publishing and Broadcasting and Melco International Development will buy Wynn Resorts Macau casino license for 900 million dollars.
The Australian gaming firm Publishing and Broadcasting along with Melco International Development will purchase Wynn Resorts Macau casino license for 900 million dollars.
According to the deal, PBL will pay 240 million dollars for 60 percent of the license and Melco will pay 160 million dollars and own 40 percent of the license. 500 million dollars will be provided by bank debt.
PBL chairman James Packer will take over the revenue at Crown Macau and City of Dreams casinos. The casinos are a joint venture of his company and Melco, chaired by Lawrence Ho. Wynns resort license is valuable until 2022. It does not include any limitations regarding the number of casinos, slot machines or table games they are allowed to build in Macau.
