Casino investor Steve Wynn is considering a secondary listing for his casino and hotel group in Hong Kong, a move that would probably rank as the largest listing on the Hong Kong bourse this year.
According to a report in the South China Morning Post, Wynn has hired UBS, Deutsche Bank and Morgan Stanley to advise on the transaction, which could raise as much as US$3bn.
Wynn Resorts has secured a 21-hectare (52-acre) site on the Cotai strip for a luxury resort project, which will feature 1,500 to 1,800 rooms and is also planning to build a 400-room hotel-casino tower on a site adjacent to its existing Macau casino. Funds from a Hong Kong listing could also help finance these expansion plans.
