Wynn Resorts Ltd. revealed the IPO pricing for its wholly owned subsidiary in an SEC filing Wednesday. Bloomberg, citing "two people familiar with the matter." reported Wednesday afternoon that the offering had sold out and that the pricing represents 14.5 times next year's EBITDA as estimated by the banks involved in the sale. The offering officially closes Oct. 9, 2009. The proceeds will be used in part to continue developing its properties in Macau.

Wynn Resorts Ltd. owns Wynn Macau, a 600-room destination casino resort in the Special Administrative Region of China that features a 205,000-square-foot casino, five restaurants, 46,000 square feet of retail space, a health club, a pool and spa, and meeting facilities. The company is also constructing the adjacent Encore at Wynn Macau, which is scheduled to open in April, and is in the planning stage for a 52-acre development in the Cotai area of Macau, aka the Cotai Strip.

Early last week, Wynn Resorts said the shares in Wynn Macau would be priced somewhere between US$1.10 and US$1.30. The same day, Reuters reported that the Chinese government quietly eased restrictions on travel to Macau from neighboring Guangdong province that began last year in response to concerns that residents there were gambling too much. Subsequent to that, the government announced a cap on junket commissions, increasing further the apparent appeal of the offering.