The company informed that wholly-owned subsidiaries Resorts World Las Vegas (RWLV) and RWLV Capital had priced on Tuesday the US$1-billion worth of 4.625-percent senior notes due 2029.
The Genting statement said the issuers will use the net proceeds to cover the remaining costs of designing, developing, building, equipping, financing and opening the Resorts World Las Vegas casino resort, which is now under construction; to cover borrowing costs; for working capital and for other general corporate purposes.
In January, the Genting group and U.S.-based casino operator Wynn Resorts announced that they had settled a dispute about the appearance of the Resorts World Las Vegas casino resort, which had threatened to bring work on the project to a halt.
In an announcement last October, Genting Malaysia Bhd subsidiary Genting Americas said it would open the Las Vegas casino resort in 2020.
Resorts World Las Vegas has been described as a “multibillion-dollar integrated resort” but a budget has not been disclosed. Investment analysts have previously mentioned a US$4-billion price tag.
Source: GMB / GGR Asia
