Wynn Resorts receives commitment for $800 million 364-day term loan

New York, March 9 – Wynn Resorts, Ltd. said it has entered into a commitment letter with Deutsche Bank for an $800 million 364-day term loan.

If the company borrows on the facility it will use the proceeds together with cash on hand to repay a promissory note previously issued to Aruze USA, Inc., according to a news release.

Wynn on Thursday said it had reached an agreement with Aruze and Universal Entertainment to settle litigation over the redemption of Aruze’s equity stake in Wynn.

Under the settlement, Wynn Resorts will pay on March 31 the $1,936,442,631.36 principal amount of the redemption note previously issued to Aruze and an additional amount of $463,557,368.64 to settle allegations surrounding the interest rate on the redemption note.

Wynn Resorts is a Las Vegas-based casino company.

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