investors-bet-on-wynn-macau-ipo-as-a-winner

Investors bet on Wynn Macau IPO as a winner

The Macau casino and resorts operator seeks to raise up to $1.63 billion from a Hong Kong listing, but won't get to keep any of that money.

Wynn Macau, the Macau division of the casino business owned by Las Vegas gaming magnate Stephen Wynn, has set the ball spinning for an initial public offering that aims to raise between HK$10.65 billion and HK$12.6 billion $1.34 billion to $1.63 billion.

Perhaps sensing that this may be an opportunity where the house doesn't have the upper hand, investors flocked to the deal as soon as the books opened yesterday morning and sources say the deal was covered in half an hour. Lucky then perhaps that the offering was launched at a slightly larger size than the $1 billion talked about in recent weeks. Part of the reason for the increase is...

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