Hong Kong-listed Wynn Macau (01128) disclosed that its wholly owned subsidiary, Wynn Resorts (Macau) S.A. (the “Subscriber”), has signed a Subscription Agreement on 23 October 2026 to commit up to MOP1.37 billion (approximately HK$1.33 billion) to the newly established Macao SAR Government Guidance Fund No. 2, Limited Partnership Fund (“the Fund”).
The Fund, formed in Macau with Macau Project Management (No. 2) Limited acting as General Partner and Macau Investment and Management Company Limited as Management Entity, will pursue commercially sustainable projects that support Macau’s economic diversification, national development strategies, technological innovation and the integration of Macau with the Guangdong-Hong Kong-Macau Greater Bay Area. The Fund has an initial 15-year term, extendable by up to two additional years.
Key subscription terms include: • Commitment: MOP1.37 billion by the Subscriber, drawn down on at least 30 days’ notice (reducible to seven business days in urgent situations). • Transfer restrictions: Any transfer of interests requires prior written consent from the General Partner/Management Entity, with continuing joint and several liability for outstanding amounts. • Distributions: Proceeds from portfolio exits will be allocated to limited partners pro rata to their commitments. • Regulatory alignment: Capital contributions will be credited toward the Subscriber’s non-gaming investment obligations under its 10-year Gaming Concession Contract awarded in December 2022.
Under Hong Kong’s Listing Rules, the transaction meets one or more applicable percentage ratios of 5% or above but below 25%, classifying it as a discloseable transaction subject to announcement and reporting requirements.
Wynn Macau’s board, including all independent non-executive directors, considers the subscription terms fair and reasonable and in the interests of shareholders. The company operates two integrated casino resorts in Macau—Wynn Macau and Wynn Palace—and views the investment as reinforcing its commitment to Macau’s policy objectives of economic diversification.
Investors are advised to exercise caution when dealing in Wynn Macau’s securities.
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