UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
____________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): February 3, 2009
WYNN
RESORTS, LIMITED
(Exact
name of registrant as specified in its charter)
|
Nevada
|
000-50028
|
46-0484987
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
|
WYNN
LAS VEGAS, LLC
(Exact
name of registrant as specified in its charter)
|
Nevada
|
333-100768
|
88-0494875
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
|
|
3131
Las Vegas Boulevard South
|
|
|
Las
Vegas, Nevada
|
89109
|
|
(Address
of principal executive offices of each registrant)
|
(Zip
Code)
|
(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:
|
£
|
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
£
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
£
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
|
£
|
Pre-commencements
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
8.01 Other
Events.
On February 3, 2009, Wynn Resorts,
Limited issued a press release announcing that a number of efficiency
initiatives would be implemented at Wynn Las Vegas and Wynn Resorts, Limited
focused on keeping full time staff employed in these uncertain
times. A copy of the press release is attached hereto as Exhibit 99.1
and is hereby incorporated by reference.
Item
9.01 Financial
Statements and Exhibits.
|
(d)
|
Exhibits:
|
|
Exhibit
Number
|
Description
|
|
99.1
|
Press
release, dated February 3, 2009, of Wynn Resorts,
Limited.
|
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: February
5, 2009
|
WYNN
RESORTS, LIMITED
|
||
|
By:
|
/s/
Matt Maddox
|
|
|
Matt
Maddox
|
||
|
Chief
Financial Officer and
|
||
|
Treasurer
|
||
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:
February 5, 2009
|
WYNN
LAS VEGAS, LLC
|
||
|
By:
|
Wynn
Resorts Holdings, LLC, its sole member
|
|
|
By:
|
Wynn
Resorts, Limited, its sole member
|
|
|
By:
|
/s/
Matt Maddox
|
|
|
Matt
Maddox
|
||
|
Chief
Financial Officer and
|
||
|
Treasurer
|
||
Exhibit
99.1
WYNN
RESORTS ANNOUNCES EFFICIENCY INITIATIVES TO BE IMPLEMENTED IMMEDIATELY IN LAS
VEGAS
LAS
VEGAS, February 3, 2009 (BUSINESS WIRE) -- Wynn Resorts, Limited (Nasdaq: WYNN)
announced today that a number of efficiency initiatives would be
implemented at Wynn Las Vegas focused on keeping full time staff employed in
these uncertain times. These initiatives include reductions in pay
for all salaried employees in Las Vegas, reduced work weeks for full-time hourly
employees, the elimination of 2009 bonus accruals and a suspension of the
employer match to the 401K contributions. The Company believes these
initiatives plus other operational efficiencies will save approximately $75-100
million annually.
Steven
A Wynn, Chairman and CEO of Wynn Resorts commented, “The management team at Wynn
Resorts recognizes their responsibility to the employees, customers and
shareholders to maintain the strength and health of the business and the
integrity of the guest’s experience. We will make decisions that
protect and preserve the stability of the employees and allow the company to
optimize its performance.”
In
addition, Wynn Resorts has a strong balance sheet with over $1 billion of cash
on hand and only $375 million of debt maturities over the next two
years.
The
Company will host a call today, February 3rd at 2:45
pm pacific time to discuss these initiatives. The call will be accessible by
calling (800) 794-8478. The conference call ID is 84407937.
About Wynn
Resorts
Wynn
Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker
symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes. Wynn Resorts
owns and operates Wynn Las Vegas (www.wynnlasvegas.com), Encore
(www.encorelasvegas.com) and Wynn Macau (www.wynnmacau.com). Wynn Las Vegas, a
luxury hotel and destination casino resort located on the Las Vegas Strip
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 74,000 square feet of retail
space.
Encore,
the new signature resort in the Wynn collection, opened December 22, 2008.
Encore is located immediately adjacent to Wynn Las Vegas and features 2,034
suites, approximately 72,000 square foot casino, 12 food and beverage outlets, a
nightclub, a spa and salon, approximately 60,000 square feet of meeting space
and approximately 27,000 square feet of upscale retail outlets.
Wynn
Macau is a destination casino resort in the Macau Special Administrative Region
of the People's Republic of China and currently features 600 deluxe hotel rooms
and suites, approximately 205,000 square foot casino, casual and fine dining in
five restaurants, approximately 46,000 square feet of retail space, a health
club, pool and spa, along with lounges and meeting facilities.
MEDIA
CONTACT:
Jennifer
Dunne
Vice
President of Public Relations & Advertising
702.770.2120
Jennifer.dunne@wynnlasvegas.com