Casino operator Wynn Resorts says its Macau properties earned no more than $19m in the first two months of its second quarter, forcing it to raise more cash, pronto.

On Thursday, Wynn filed papers with the US Securities and Exchange Commission announcing its intention to conduct a senior notes offering to professional investors, although it couldn’t yet say how much these notes would cost nor how much the company hoped to raise via this offering.

However much change this offering puts in Wynn’s pocket, the company plans to use it to pay bills while it recovers from the impact of the COVID-19 pandemic, as well as repay a portion of the outstanding amounts of Wynn Macau’s credit facilities.

Wynn also offered a hint of the performance of its Wynn Macau subsidiary – which is 72% owned by the parent company – in the months of April and May. The company expects the combined revenue of Wynn’s two Macau properties to come in between $17.9m and $19m, down from $759.7m in the same two-month period last year. Ouch.