KUALA LUMPUR (Dow Jones)--Genting Malaysia Bhd. (4715.KU) said Wednesday it has subscribed for $15 million nominal value of Wynn Resorts Ltd.'s (WYNN) new 7.875% First Mortgage Notes due 2017.
The Malaysian casino operator said in a stock exchange filing that the notes issued by Wynn's wholly owned units Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. represent "a good opportunity for Genting Malaysia to expand its investment portfolio and enhance returns on its existing cash balances."
The notes are secured against Wynn's gaming and entertainment assets in Las Vegas, the company said.
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