Summary by Moomoo AI
Wynn Macau announced on December 9, 2024, that it has set an annual cap for the intellectual property licensing agreement for the year ending December 31, 2025. According to the agreement, the annual cap for the amounts payable by the group is 1.1675 billion HKD (approximately 0.15 billion USD). This cap is determined based on formulas, past payment amounts, and expected business performance.The intellectual property licensing agreement was signed on September 19, 2009, allowing Wynn Macau and its subsidiaries to use Wynn Resorts' intellectual property. According to the agreement, the group is required to pay 3% of the gross revenue from intellectual property monthly or 1.5 million USD (whichever is higher) as a royalty fee. Since Wynn Resorts is the controlling shareholder of Wynn Macau, this trade constitutes a...Show More