Article: Three Banks Win Le Reve Deal: Deutsche, Bear, BofA put up $1 billion and get to run IPO books.(banks finance the Le Reve resort development by Wynn Resorts Ltd.)(Brief Article)

Gaming bankers rolling the dice to win the mandate for Wynn Resorts Ltd.'s initial public offering hedged their bets and opened their checkbooks to a tune of $1 billion by agreeing to provide financing for the $2.4 billion development of the Le Reve Resort.

In its June 17 filing with the Securities and Exchange Commission, Deutsche Bank Securities, Bear, Stearns & Co. and Banc of America Securities were listed as joint book-running managers of the IPO that is expected to raise $408 million, and which includes the underwriters' option to purchase up to an additional $53.25 million of common stock.

The three investment banks are also on the hook to provide ...

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