BUSINESS BRIEFING / GAMING
Times Wire Reports
Casino companies Wynn Resorts Ltd. and Las Vegas Sands Corp. each say they have amended their debt agreements to get more breathing room as they repay billions of dollars.
Wynn Resorts said its new agreement waived certain covenants until June 2011 and extended to July 2013 the maturity on $610 million of its remaining $697 million in revolving credit. The Las Vegas company said that in exchange it had agreed to a higher overall rate on the debt.
Las Vegas Sands said in a regulatory filing that the new agreement it reached with lenders would let it buy back up to $800 million in debt.
