A Las Vegas-based casino company has taken the lead in a race to become the first international casino operator to list in Hong Kong, taking advantage of renewed investor appetite for stocks with links to the world's biggest gambling market.
Wynn Resorts, controlled by Steve Wynn, hopes to float a minimum 25 per cent interest in its Macao operations.
The spin-off is expected to raise $1bn-2bn by the end of this year. However, people involved in the transaction cautioned that “the total amount [sought] is not clear”.
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