Wynn Resorts, Limited announced on September 22, 2026, the issuance of $900 million in aggregate principal amount of 6.875% Senior Notes due 2035. The Notes were issued by Wynn Resorts Finance, LLC and its subsidiary, Wynn Resorts Capital Corp., both of which are indirect wholly-owned subsidiaries of the company. The offering was made pursuant to an indenture dated the same day, with U.S. Bank Trust Company, National Association serving as trustee.
The Notes will mature on March 15, 2035. Interest on the debt is payable in cash semi-annually on March 15 and September 15 of each year, beginning with the payment due on March 15, 2027.
The net proceeds from this offering, combined with existing cash on hand, are designated for two specific purposes. First, the company intends to redeem in full the outstanding 5.250% Senior Notes due 2027 issued by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. Second, the funds will cover fees and expenses associated with the issuance of the new Notes and the redemption of the 2027 Notes.
The Notes are jointly and severally guaranteed by all of Wynn Resorts Finance, LLC’s domestic subsidiaries that guarantee the Issuers’ existing senior secured credit facilities, with the exception of Wynn Resorts Capital, the 5.125% senior notes due 2029, the 7.125% senior notes due 2031, and the 6.250% senior notes due 2033.
The Indenture governing the Notes includes several terms regarding redemption and default. The Issuers may redeem the Notes in whole or in part prior to September 15, 2029, at a price equal to 100% of the principal amount plus a make-whole amount and accrued interest. After that date, redemption prices are set forth in the Indenture. The Notes are also subject to gaming regulatory requirements. In the event of a change of control triggering event, the Issuers must offer to repurchase the Notes at 101% of the principal amount plus accrued interest. Standard events of default, including failure to make payments or comply with covenants, are also included in the agreement.
