LAS VEGAS--(BUSINESS WIRE)--Mar. 17, 2009--
Wynn Resorts, Limited (Nasdaq:WYNN) announced today that it has priced a
public offering of 9,600,000 newly issued shares of its common stock at
a price to the public of $19 per share. The net proceeds to Wynn
Resorts, after deducting discounts and commissions and estimated
expenses, will be approximately $175 million. The offering is expected
to close on March 20, 2009, subject to the satisfaction of customary
In connection with the offering, Wynn Resorts granted an option to
purchase up to an additional 1,440,000 shares of common stock to
Deutsche Bank Securities Inc. and Merrill Lynch & Co., who acted as
joint book running managers and underwriters for the offering, and J.P.
Morgan Securities Inc., Moelis & Company and Wachovia Capital Markets,
LLC, who acted as co-managers and underwriters for the offering.
Additionally, Moelis & Company served as financial adviser to the
Company in connection with this transaction. Wynn Resorts intends to use
the proceeds for general corporate purposes, including repayment of debt.
The shares were issued pursuant to an effective shelf registration on
file with the Securities and Exchange Commission. The offering of these
shares is being made only by means of a prospectus supplement and
related prospectus. A copy of the prospectus relating to the shares may
be obtained by contacting Merrill Lynch & Co., Attn: Prospectus
Department, 4 World Financial Center, FL 5, New York, NY 10080,
telephone: (212) 449-1000, or Deutsche Bank Securities Inc., Attn:
Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311,
telephone: (800) 503-4611, or by e-mail at email@example.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
This press release contains forward-looking statements about Wynn
Resorts, including those relating to the offering and whether or not
Wynn Resorts will consummate the offering. All forward-looking
statements in this press release are based on estimates and assumptions
and represent Wynn Resorts' judgment only as of the date of this press
release. Actual results may differ from current expectations based on a
number of factors including but not limited to changing market
conditions and Wynn Resorts' ability to complete the offering.
Therefore, the reader is cautioned not to rely on these forward-looking
statements. Additional information concerning potential factors that
could affect Wynn Resorts is included in Wynn Resorts' Annual Report on
Form 10-K for the year ended December 31, 2008 and Wynn Resorts' other
periodic reports filed with the Securities and Exchange Commission. Wynn
Resorts is under no obligation to (and expressly disclaims any such
obligation to) update its forward-looking statements.
Source: Wynn Resorts, Limited
Wynn Resorts, Limited, Las Vegas
Samanta Stewart, 702-770-7555