The Hong Kong initial public offering of Wynn Resorts’ Macao operations will help the Las Vegas-based group realise its aspirations of becoming “more of a Chinese company”, according to Steve Wynn, its chairman.

Wynn Resorts will raise up to $1.6bn by selling a 25 per cent stake in its Macao operations, as it becomes the first American-based company to establish a presence on the Hong Kong stock exchange.