WYNN resorts has been dubbed as the world’s second-most admired company in the hotel, casino and resort industry, according to new Fortune magazine rankings. It beat its 2011 number 4 spot. It’s thought that the ranking was put together long before the public spat between Wynn and Okada.
The hotel, casino and resort industry’s most admired company was Wyndham Worldwide. Fortune magazine uses surveys of business people to compile its rankings. Overall, Apple was considered the world’s most admired company for the fifth consecutive year, followed by Google and Amazon.com.
In other Wynn Resorts Ltd. News, according to a company statement and press release, it said recently it will issue $900 million in first mortgage notes due in 2022. The notes will be offered to only qualified institutional buyers and outside the U.S. in accordance with securities law, the Las Vegas-based company said in a statement.
The notes will be co-issued by subsidiaries Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp. The company said it plans to use net proceeds to repay all outstanding loans and for general corporate purposes.
Standard & Poor’s rating service Monday assigned a “BBB-” to the notes.
Shares of Wynn Resorts lost $4.52, or 3.55 percent, to close Monday at $122.75 on the Nasdaq Global Select Market.
