UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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FORM 8-K
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CURRENT
REPORT
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PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): November 19,
2007
WYNN
RESORTS, LIMITED
(Exact
name of registrant as specified in its charter)
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Nevada
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000-50028
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46-0484987
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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3131
Las Vegas Boulevard South
Las
Vegas, Nevada
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89109
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(Address
of principal executive offices of each registrant)
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(Zip
Code)
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(702)
770-7555
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o
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Written
communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencements
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item
8.01. Other
Events.
On
November 19, 2007, the Board of Directors of Wynn Resorts, Limited (the
“Registrant”) declared a special cash distribution of $6.00 per share of its
outstanding common stock. This special distribution will be payable on December
10, 2007 to stockholders of record on November 30, 2007.
The
Registrant’s press release, dated November 20, 2007, announcing the special
distribution is filed as Exhibit 99.1 to this report and is incorporated herein
by reference.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits.
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Exhibit
No.
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Description
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99.1
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Press
Release of Wynn Resorts, Limited, dated November 20,
2007.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: November
20, 2007
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WYNN
RESORTS, LIMITED
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By:
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/s/
John Strzemp
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John
Strzemp
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Chief
Financial Officer
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WYNN
RESORTS DECLARES CASH DISTRIBUTION
LAS
VEGAS--(BUSINESS WIRE)—November 20, 2007--Wynn Resorts, Limited (Nasdaq:WYNN),
announced today that its Board of Directors declared a cash distribution
of
$6.00 per share on its outstanding common stock. This distribution
will be payable on December 10, 2007, to stockholders of record on November
30,
2007. The stock will begin to trade ex-dividend on November 28,
2007.
For
U.S. federal income tax purposes, the payment of the cash distribution will
be
subject to tax as ordinary dividend income to the extent that the distribution
is paid out of our "earnings and profits" as determined after the close of
our
2007 fiscal year on December 31, 2007. Such dividend income will
generally be eligible for the maximum 15% U.S. federal income tax rate available
to non-corporate U.S. stockholders. The distribution of cash in
excess of our earnings and profits for our 2007 fiscal year will be treated
as a
tax-free return of capital to the extent of the stockholder's adjusted tax
basis
in our shares, and thereafter as gain from the sale or exchange of a capital
asset. Following the close of our 2007 fiscal year and upon
completion of an earnings and profits evaluation, we will make appropriate
disclosure as to the portion of the cash distribution that was paid out of
our
earnings and profits for the 2007 fiscal year. Stockholders are urged
to consult with their financial and tax advisors regarding the receipt of
the
cash distribution.
Wynn
Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker
symbol WYNN and is part of the NASDAQ-100 Index. Wynn Resorts owns and operates
Wynn Las Vegas (www.wynnlasvegas.com), a luxury hotel and destination casino
resort located on the Las Vegas Strip. Wynn Las Vegas features 2,716 luxurious
guest rooms and suites; an approximately 111,000 square foot casino; 22 food
and
beverage outlets; an on-site 18-hole golf course; approximately 223,000 square
feet of meeting space; an on-site Ferrari and Maserati dealership; and
approximately 76,000 square feet of retail space. On September 6, 2006, Wynn
Macau, a destination casino resort in the Macau Special Administrative Region
of
the People's Republic of China, opened. Wynn Macau (www.wynnmacau.com) currently
features 600 deluxe hotel rooms and suites; approximately 130,000 square
foot
casino; casual and fine dining in five restaurants; approximately 26,000
square
feet of retail space; a health club, pool and spa, along with lounges and
meeting facilities.
CONTACT:
Wynn Resorts
Samanta
Stewart, 702-770-7555
SOURCE:
Wynn Resorts, Limited