|
Document and Entity Information (USD $)
In Billions, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Feb. 15, 2011
|
Jun. 30, 2010
|
|
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 31, 2010 | ||
| Document Fiscal Year Focus | 2010 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | wynn | ||
| Entity Registrant Name | WYNN RESORTS LTD | ||
| Entity Central Index Key | 0001174922 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Voluntary Filers | No | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Current Reporting Status | Yes | ||
| Entity Common Stock, Shares Outstanding | 124,620,408 | ||
| Entity Public Float | $ 5.8 |
| X | ||||||||||
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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| X | ||||||||||
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other. No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of APIC associated with common AND preferred stock. For APIC associated with only common stock, use the element Additional Paid In Capital, Common Stock. For APIC associated with only preferred stock, use the element Additional Paid In Capital, Preferred Stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion, due within one year or the normal operating cycle, if longer, of money or property received from customers which is either to be returned upon satisfactory contract completion or applied to customer receivables in accordance with the terms of the contract or the understandings. No definition available.
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| X | ||||||||||
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- Definition
Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the current portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A current taxable temporary difference is a difference between the tax basis and the carrying amount of a current asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). No definition available.
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| X | ||||||||||
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- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable form a party that is affiliated with the reporting entity by means of direct or indirect ownership. No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Dollar value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Value of common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Treasury stock is issued but is not outstanding. This stock has no voting rights and receives no dividends. Note that treasury stock may be recorded at its total cost or separately as par (or stated) value and additional paid in capital. Note: number of treasury shares concept is in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for the acquisition of merchandise, materials, supplies and services pertaining to construction projects such as a new hotel resort or remodels to existing resorts not classified as trade payables, and liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of the amount retained from construction contract payments to ensure the contractor completes the construction before the retention is returned, within one year of the balance sheet date (or one operating cycle, if longer). No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of the amount retained from construction contract payments to ensure the contractor completes the construction before the retention is returned, more than one year from the balance sheet date (or more than one operating cycle, if longer). No definition available.
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| X | ||||||||||
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- Definition
Deposits and other assets noncurrent. No definition available.
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date for taxes payable (due within one year or within one normal operating cycle, if longer) based on gross gaming revenue in the jurisdictions in which we operate, subject to applicable jurisdictional adjustments. No definition available.
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Oct. 31, 2009
|
|---|---|---|---|
| CONSOLIDATED BALANCE SHEETS | |||
| Preferred stock, par value | $ 0.01 | $ 0.01 | |
| Preferred stock, shares authorized | 40,000,000 | 40,000,000 | |
| Preferred stock, shares issued | 0 | 0 | |
| Preferred stock, shares outstanding | 0 | 0 | |
| Common stock, par value | $ 0.01 | $ 0.01 | |
| Common stock, shares authorized | 400,000,000 | 400,000,000 | |
| Common stock, shares issued | 137,404,462 | 136,098,410 | 1,437,500,000 |
| Common stock, shares outstanding | 124,599,508 | 123,293,456 | |
| Treasury stock, shares | 12,804,954 | 12,804,954 |
| X | ||||||||||
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||
| Operating revenues: | ||||||||
| Casino | $ 3,245,104 | $ 2,206,829 | $ 2,261,932 | |||||
| Rooms | 400,291 | 377,520 | 326,655 | |||||
| Food and beverage | 488,108 | 436,361 | 358,715 | |||||
| Entertainment, retail and other | 354,332 | 288,432 | 270,065 | |||||
| Gross revenues | 4,487,835 | 3,309,142 | 3,217,367 | |||||
| Less: promotional allowances | (303,137) | (263,531) | (230,043) | |||||
| Net revenues | 4,184,698 | [1] | 3,045,611 | [1] | 2,987,324 | [1] | ||
| Operating costs and expenses: | ||||||||
| Casino | 2,100,050 | 1,460,130 | 1,490,927 | |||||
| Rooms | 122,260 | 111,596 | 78,238 | |||||
| Food and beverage | 272,747 | 252,687 | 207,281 | |||||
| Entertainment, retail and other | 204,558 | 166,636 | 161,862 | |||||
| General and administrative | 391,254 | 365,070 | 319,303 | |||||
| Provision for doubtful accounts | 28,304 | 13,707 | 49,405 | |||||
| Pre-opening costs | 9,496 | 1,817 | 72,375 | |||||
| Depreciation and amortization | 405,558 | 410,547 | 263,213 | |||||
| Property charges and other | 25,219 | 28,458 | 32,584 | |||||
| Total operating costs and expenses | 3,559,446 | 2,810,648 | 2,675,188 | |||||
| Operating income | 625,252 | 234,963 | 312,136 | |||||
| Other income (expense): | ||||||||
| Interest income | 2,498 | 1,740 | 21,517 | |||||
| Interest expense, net of amounts capitalized | (222,863) | (211,385) | (172,693) | |||||
| Decrease in swap fair value | (880) | (2,258) | (31,485) | |||||
| Gain (loss) on extinguishment of debt/exchange offer | (67,990) | 18,734 | 22,347 | |||||
| Equity in income from unconsolidated affiliates | 801 | 121 | 1,353 | |||||
| Other | 225 | 191 | (4,257) | |||||
| Other income (expense), net | (288,209) | (192,857) | (163,218) | |||||
| Income before income taxes | 337,043 | 42,106 | 148,918 | |||||
| (Provision) benefit for income taxes | (20,447) | (2,999) | 61,561 | |||||
| Net income | 316,596 | 39,107 | 210,479 | |||||
| Less: Net income attributable to noncontrolling interests | (156,469) | (18,453) | ||||||
| Net income attributable to Wynn Resorts, Limited | $ 160,127 | $ 20,654 | $ 210,479 | |||||
| Net income attributable to Wynn Resorts, Limited: | ||||||||
| Basic | $ 1.3 | $ 0.17 | $ 1.94 | |||||
| Diluted | $ 1.29 | $ 0.17 | $ 1.92 | |||||
| Weighted average common shares outstanding: | ||||||||
| Basic | 122,787,000 | 119,840,000 | 108,408,000 | |||||
| Diluted | 123,939,000 | 120,185,000 | 109,441,000 | |||||
| Dividends declared per common share: | $ 8.5 | $ 4 | ||||||
|
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| X | ||||||||||
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- Definition
This element represents the cost of generating revenues from a hotel's, including cruise lines, gaming operations; likewise, such revenues may be derived from gaming operations that also are hoteliers. No definition available.
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| X | ||||||||||
|
- Definition
This element represents revenues generated by and derived from a hotel's, including cruise lines, gaming operations; likewise, such revenues may be derived from gaming operations that also are hoteliers. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost related to generating revenue from the sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). No definition available.
|
| X | ||||||||||
|
- Definition
Revenue from sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. No definition available.
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Costs incurred and are directly related to generating occupancy revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue derived from the provision of short term lodging; it does not apply to lease or rental income. Includes hotel rooms, cruise revenue, and other revenue related to lodgings. No definition available.
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the estimated retail value of accommodations, food and beverage, and other services furnished to guests without charge. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Costs incurred during the period related to generating revenue from shows, retail outlets, convention space, spa, salon, wedding salon, and golf course operations. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue earned during the period from shows, retail outlets, convention space, spa, salon, wedding salon, and golf course. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate revenue earned from hotel, casino, food and beverage, entertainment, retail, and other operations. This amount includes the retail value of complimentaries provided on a routine basis as part of our normal day to day operations. No definition available.
|
| X | ||||||||||
|
- Definition
Income (Loss) from Continuing Operations before Income Taxes and Minority Interest No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of expenses charged against earnings to eliminate the capitalized costs of projects abandoned during the reporting period and expenses associated with business termination activities. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the amount of recognized share-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax benefit associated with any share-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash dividends declared by an entity during the period for all classes of stock (common, preferred). This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock related to Restricted Stock Awards forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value stock issued during the period as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Forfeited Cash Distribution Upon Cancellation of Restricted Stock No definition available.
|
| X | ||||||||||
|
- Definition
Sale of Subsidiaries Common Stock, Net No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period for interest owed on money borrowed, net of interest capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The expense charged against earnings to eliminate the capitalized costs of projects that have been terminated during the reporting period. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire investments (not to include restricted cash) that are pledged or subject to withdrawal restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the payment of other borrowing not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increases (decreases) in the market value of derivative instruments, including options, swaps, futures, and forward contracts, which were included in earnings in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amortization of cash outflows paid to third parties in connection with debt origination, which will occur over the remaining maturity period of the associated long-term debt. No definition available.
|
| X | ||||||||||
|
- Definition
Cash distribution declared on non-vested stock. No definition available.
|
| X | ||||||||||
|
- Definition
Cash restricted for stock repurchases No definition available.
|
| X | ||||||||||
|
- Definition
Change in Property and Equipment Included in Accounts and Construction Payables No definition available.
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying value of the debt at the time of its exchange, extinguishment, or settlement. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Also includes the net change during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods and the net change during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate swap transactions No definition available.
|
| X | ||||||||||
|
- Definition
Net cash inflow or (outflow) from other deposits and/or other assets not otherwise defined in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Stock Based Compensation Capitalized into Construction in Progress No definition available.
|
|
Organization
|
12 Months Ended |
|---|---|
|
Dec. 31, 2010
|
|
| Organization | 1. Organization Wynn Resorts, Limited, a Nevada corporation (together with its subsidiaries, "Wynn Resorts" or the "Company"), was formed in June 2002 and completed an initial public offering of its common stock on October 25, 2002. In June 2002, the Company's indirect subsidiary, Wynn Resorts (Macau), S.A. ("Wynn Macau, S.A."), entered into an agreement with the government of the Macau Special Administrative Region of the People's Republic of China ("Macau"), granting Wynn Macau, S.A. the right to construct and operate one or more casino gaming properties in Macau. Wynn Macau, S.A.'s first casino resort in Macau is hereinafter referred to as "Wynn Macau". The Company currently owns and operates casino hotel resort properties in Las Vegas, Nevada and Macau. In Las Vegas, Nevada, the Company owns Wynn Las Vegas, which opened on April 28, 2005 and was expanded with the opening of Encore at Wynn Las Vegas on December 22, 2008. In Macau, the Company owns Wynn Macau, which opened on September 6, 2006 and was expanded with the opening of Encore at Wynn Macau on April 21, 2010. In October 2009, Wynn Macau, Limited, an indirect wholly-owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 shares (27.7%) of this subsidiary's common stock. |
| X | ||||||||||
|
- Definition
Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Significant Accounting Policies
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Dec. 31, 2010
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| Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Investments in the 50%-owned joint ventures operating the Ferrari and Maserati automobile dealership and the Brioni mens' retail clothing store inside Wynn Las Vegas are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents are comprised of highly liquid investments with original maturities of three months or less. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents of $663.9 million and $1.4 billion at December 31, 2010 and 2009, respectively, were invested in money market funds, U.S. treasuries and time deposits. The Company utilized Level 1 inputs as described in Note 8 to determine fair value. Accounts Receivable and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino accounts receivable. The Company issues credit in the form of "markers" to approved casino customers following investigations of creditworthiness. At December 31, 2010 and 2009, approximately 82% and 76%, respectively, of the Company's markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in these countries could affect the collectability of such receivables. Accounts receivable, including casino and hotel receivables, are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company's receivables to their carrying amount, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as management's experience with collection trends in the casino industry and current economic and business conditions. Inventories Inventories consist of retail merchandise, food and beverage items which are stated at the lower of cost or market value and certain operating supplies. Cost is determined by the first-in, first-out, average and specific identification methods. Property and Equipment Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:
Costs related to improvements are capitalized, while costs of repairs and maintenance are charged to expense as incurred. The cost and accumulated depreciation of property and equipment retired or otherwise disposed of are eliminated from the respective accounts and any resulting gain or loss is included in operations. Capitalized Interest The interest cost associated with major development and construction projects is capitalized and included in the cost of the project. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use. When no debt is specifically identified as being incurred in connection with a construction project, the Company capitalizes interest on amounts expended on the project at the Company's weighted average cost of borrowed money. Interest of $7.2 million, $10.7 million and $87.4 million was capitalized for the years ended December 31, 2010, 2009 and 2008, respectively. Intangibles The Company's indefinite-lived intangible assets consist primarily of water rights acquired as part of the original purchase price of the property on which Wynn Las Vegas is located, and trademarks. Indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually. The Company's finite-lived intangible assets consist of a Macau gaming concession and show production rights. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.
Long-Lived Assets Long-lived assets, which are to be held and used, including intangibles and property and equipment, are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. If an indicator of impairment exists, the Company compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then impairment is measured as the difference between fair value and carrying value, with fair value typically based on a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. Deferred Financing Costs Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expense over the terms of the related debt agreements. Approximately $13.2 million, $15.4 million and $17.8 million were amortized to interest expense during the years ended December 31, 2010, 2009 and 2008, respectively. Debt discounts incurred in connection with the issuance of debt have been capitalized and are being amortized to interest expense using the effective interest method. Derivative Financial Instruments The Company seeks to manage its market risk, including interest rate risk associated with variable rate borrowings, through balancing fixed-rate and variable-rate borrowings with the use of derivative financial instruments. The fair value of derivative financial instruments are recognized as assets or liabilities at each balance sheet date, with changes in fair value affecting net income as the Company's current interest rate swaps do not qualify for hedge accounting. Accordingly, changes in the fair value of the interest rate swaps are presented as an increase (decrease) in swap fair value in the accompanying Consolidated Statements of Income. The differentials paid or received on interest rate swap agreements are recognized as adjustments to interest expense. Revenue Recognition and Promotional Allowances The Company recognizes revenues at the time persuasive evidence of an arrangement exists, the service is provided or the retail goods are sold, prices are fixed or determinable and collection is reasonably assured. Casino revenues are measured by the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers' possession. Hotel, food and beverage, entertainment and other operating revenues are recognized when services are performed. Entertainment, retail and other revenue includes rental income which is recognized on a time proportion basis over the lease terms. Contingent rental income is recognized when the right to receive such rental income is established according to the lease agreements. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer. Revenues are recognized net of certain sales incentives which are required to be recorded as a reduction of revenue; consequently, the Company's casino revenues are reduced by discounts, commissions and points earned in the player's club loyalty program. The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues. Such amounts are then deducted as promotional allowances. These amounts have increased with the opening of Encore at Wynn Las Vegas in December 2008 and the opening of Encore at Wynn Macau in April 2010. The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (amounts in thousands):
Self-Insurance Reserves The Company is self-insured up to certain limits for costs of employee health coverage, workers' compensation and general liability claims. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of estimates for claims incurred but not yet reported. In estimating these accruals, the Company considers historical loss experience and makes judgments about the expected level of costs per claim. Management believes the estimates of future liability are reasonable based upon its methodology; however, changes in health care costs, accident frequency and severity could materially affect the estimate for these liabilities. Customer Loyalty Program The Company's customer loyalty program relates to a slot club program whereby customers may earn points based on their level of play that may be redeemed for free credit that must be replayed in the slot machine. The Company accrues a liability based on the points earned times the redemption value, less an estimate for breakage, and records a related reduction in casino revenue. Slot Machine Jackpots With respect to base and progressive jackpots, the Company does not accrue a liability in jurisdictions in which it has the ability to avoid payment of the base jackpot because the machine can legally be removed from the gaming floor without payment of the base amount. Conversely, if the Company is unable to avoid payment of the jackpot (i.e. the incremental amount on a progressive machine) due to legal requirements, the jackpot is accrued as the obligation becomes unavoidable. This liability is accrued over the time period in which the incremental progressive jackpot amount is generated with a related reduction in casino revenue. No liability is accrued with respect to the base jackpot. Gaming taxes The Company is subject to taxes based on gross gaming revenue in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are an assessment on the Company's gaming revenue and are recorded as an expense within the "Casino" line item in the accompanying Consolidated Statements of Income. These taxes totaled $1,412.8 million, $892.2 million and $919.2 million for the years ended December 31, 2010, 2009 and 2008, respectively. Advertising Costs The Company expenses advertising costs the first time the advertising takes place. Advertising costs incurred in development periods are included in pre-opening costs. Once a project is completed, advertising costs are included in general and administrative expenses. Total advertising costs were $19 million, $20.4 million and $31.2 million, including $11.1 million in 2008 for pre-opening related to Encore at Wynn Las Vegas, for the years ended December 31, 2010, 2009 and 2008, respectively. Pre-Opening Costs Pre-opening costs consists primarily of direct salaries and wages, legal and consulting fees, insurance, utilities and advertising, and are expensed as incurred. During the year ended December 31, 2010, the Company incurred pre-opening costs in connection with the Encore Beach Club and Surrender Nightclub which opened in May 2010, and Encore at Wynn Macau prior to its opening in April 2010. During the year ended December 31, 2009, the Company incurred pre-opening costs in connection with Encore at Wynn Las Vegas prior to its opening in December 2008. Income Taxes The Company is subject to income taxes in the United States and other foreign jurisdictions where it operates. Accounting standards require the recognition of deferred tax assets, net of applicable reserves, and liabilities for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied. The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. The accounting standards prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition (Step I) occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement (Step II) is only addressed if the position is deemed to be more likely than not to be sustained. Under Step II, the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Use of the term "more likely than not" is consistent with how that term is used in accounting for income taxes (i.e. likelihood of occurrence is greater than 50%). Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the "more likely than not" standard. If it is subsequently determined that a previously recognized tax position no longer meets the "more likely than not" standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. During the years ended December 31, 2010, 2009 and 2008, the Company recognized no amounts for interest or penalties.
Currency Translation Gains or losses from foreign currency remeasurements are included in other income/expense in the accompanying Consolidated Statements of Income. The results of operations and the balance sheet of Wynn Macau, S.A. are translated from Macau Patacas to U.S. dollars. Balance sheet accounts are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive income. Comprehensive Income Comprehensive income includes net income and all other non-stockholder changes in equity, or other comprehensive income. Components of the Company's comprehensive income are reported in the accompanying Consolidated Statements of Stockholders' Equity. The cumulative balance of other comprehensive income consists solely of currency translation adjustments. Earnings Per Share Basic earnings per share ("EPS') is computed by dividing net income attributable to Wynn Resorts by the weighted average number of shares outstanding during the year. Diluted EPS reflects the addition of potentially dilutive securities which for the Company include: stock options and nonvested stock. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS for the years ended December 31, 2010, 2009 and 2008, consisted of the following (amounts in thousands):
A total of 1,078,000, 4,899,918 and 880,000 stock options were excluded from the calculation of diluted EPS at December 31, 2010, 2009 and 2008, respectively, because including them would have been anti-dilutive. Stock-Based Compensation Accounting standards require the Company to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognize that cost over the service period. The Company uses the Black-Scholes valuation model to determine the estimated fair value for each option grant issued. The Black-Scholes determined fair value net of estimated forfeitures is amortized as compensation cost on a straight line basis over the service period. Further information on the Company's stock-based compensation arrangements is included in Note 14 "Benefit Plans—Stock-Based Compensation".
Reclassifications Certain amounts in the consolidated financial statements for 2009 and 2008 have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on the previously reported net income. |
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- Definition
This element may be used to describe all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Receivables, net
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Dec. 31, 2010
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| Receivables, net | 3. Receivables, net Receivables, net consisted of the following (amounts in thousands):
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Includes disclosure of claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property and Equipment, net
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Dec. 31, 2010
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| Property and Equipment, net | 4. Property and Equipment, net Property and equipment, net consisted of the following (amounts in thousands):
Depreciation expense for the years ended December 31, 2010, 2009 and 2008, was $391.7 million, $395.2 million and $247.6 million, respectively. The increase during 2009 is due to the depreciation of assets placed in service for Encore at Wynn Las Vegas in December 2008. |
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Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Intangibles, net
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Dec. 31, 2010
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| Intangibles, net | 5. Intangibles, net Intangibles, net consisted of the following (amounts in thousands):
The Macau gaming concession intangible is being amortized over the 20-year life of the concession. The Company expects that amortization of the Macau gaming concession will be $2.4 million each year from 2011 through 2021, and $1 million in 2022. Show production rights represent amounts paid to purchase the rights to the "Le Rêve" production show. The Company expects that amortization of show production rights will be $2.1 million for each of the years 2011 through 2012, and $0.8 million in 2013. Water rights reflect the fair value allocation determined in the purchase of the property on which Wynn Las Vegas is located in April 2000. The value of the trademarks primarily represents the costs to acquire the "Le Rêve" name. The water rights and trademarks are indefinite-lived assets and, accordingly, not amortized. |
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This block of text may be used to disclose all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Deposits and Other Assets
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Dec. 31, 2010
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| Deposits and Other Assets | 6. Deposits and Other Assets Deposits and other assets consisted of the following (amounts in thousands):
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Long-Term Debt
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Dec. 31, 2010
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| Long-Term Debt | 7. Long-Term Debt Long-term debt consisted of the following (amounts in thousands):
6 5/8% Wynn Las Vegas First Mortgage Notes On December 14, 2004, Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (together, the "Issuers") issued $1.3 billion aggregate principal amount of 6 5/8% first mortgage notes due December 1, 2014. On November 6, 2007, the Issuers issued, in a private offering, $400 million aggregate principal amount of 6 5/8% first mortgage notes due December 1, 2014 at a price of 97.25% of the principal amount. These notes were issued under the same indenture as the original $1.3 billion first mortgage notes. Both offerings are referred to herein as the "2014 Notes". The Company paid interest on the 2014 Notes on June 1st and December 1st of each year. In August 2010, the 2014 Notes were redeemed as described below. 7 7/8% Wynn Las Vegas First Mortgage Notes In October 2009, the Issuers issued, in a private offering, $500 million aggregate principal amount of 7 7/8% first mortgage notes due November 1, 2017 (the "2017 Notes") at a price of 97.823% of the principal amount. Net proceeds to the Company were $480 million, after deducting the original issue discount and underwriting fees and other expenses. The Company pays interest on the 2017 Notes on May 1st and November 1st of each year. Commencing November 1, 2013, the 2017 Notes are redeemable at the Company's option at a price equal to 103.938% of the principal amount redeemed and the premium over the principal amount declines ratably on November 1st of each year thereafter to zero on or after November 1, 2015. The notes are senior secured obligations of the Issuers, are guaranteed by Wynn Las Vegas, LLC's subsidiaries (subject to some exceptions), and are secured on an equal and ratable basis by a first priority lien on substantially all the existing and future assets of the Issuers and guarantors. On March 26, 2010, the Issuers commenced an offer to exchange all outstanding 2014 Notes for 7 7/8% first mortgage notes due 2020 (the "2020 Notes"), upon the terms and subject to the conditions set forth in an offering memorandum and a related letter of transmittal (the "exchange offer"). The exchange offer was conditioned upon, among other things, the tender of at least $250 million aggregate principal amount of 2014 Notes. The 2020 Notes were offered only to qualified institutional buyers and outside the United States in accordance with Rule 144A and Regulation S, respectively, under the Securities Act of 1933, as amended (the "Securities Act"). The exchange offer closed on April 28, 2010 with $352 million of the 2014 Notes being validly tendered for exchange to the 2020 Notes.
The noteholders who validly tendered 2014 Notes prior to the early delivery time received an early delivery payment on April 28, 2010 of 1% of the amount tendered in cash, which totaled $3.5 million. In accordance with accounting standards, this has been included as deferred financing costs and will be amortized over the life of the 2020 Notes. The direct costs of the exchange offer incurred with third parties of $4.6 million were expensed and are included in Gain / (loss) on extinguishment of debt / exchange offer in the accompanying Consolidated Statements of Income. The Company pays interest on the 2020 Notes on May 1st and November 1st of each year. Commencing May 1, 2015, the 2020 Notes are redeemable at the Company's option at a price equal to 103.938% of the principal amount redeemed and the premium over the principal amount declines ratably on May 1st of each year thereafter to zero on or after May 1, 2018. The 2020 Notes rank pari passu in right of payment with borrowings under Wynn Las Vegas, LLC's credit facilities and 2017 Notes. The 2020 Notes are senior secured obligations of the Issuers, guaranteed by certain of Wynn Las Vegas, LLC's subsidiaries and secured by a first priority lien on substantially all of the existing and future assets of the Issuers and guarantors and, subject to approval from the Nevada Gaming Commission, a first priority lien on the equity interests of Wynn Las Vegas, LLC, all of which is the same collateral that secures borrowings under Wynn Las Vegas, LLC's credit facilities and the 2017 Notes. 7 3/4% Wynn Las Vegas First Mortgage Notes On August 4, 2010, the Issuers issued $1.32 billion aggregate principal amount of 7 3/4% first mortgage notes due August 15, 2020 (the "New 2020 Notes"). The New 2020 Notes were issued at par. The New 2020 Notes were offered only to qualified institutional buyers and outside the United States in accordance with Rule 144A and Regulation S, respectively, under the Securities Act. Wynn Las Vegas, LLC used the net proceeds of the offering along with the proceeds of a $50 million capital contribution from Wynn Resorts, Limited to purchase, and, as applicable, make consent payments for, any and all of the Issuers' 2014 Notes that were validly tendered and accepted for payment pursuant to Wynn Las Vegas, LLC's concurrent offer to purchase and consent solicitation with respect to the 2014 Notes, and to redeem all of the 2014 Notes not tendered. On or prior to August 3, 2010, valid tenders had been received with respect to $951.3 million of the $1.3 billion aggregate principal amount of 2014 Notes outstanding. On August 4, 2010, tendering holders received the tender offer consideration in the amount of $1,004.38, plus a consent payment of $30 for each $1,000 principal amount of 2014 Notes, which totaled $32.7 million. The consent solicitation expired on August 3, 2010 and the tender offer expired on August 18, 2010. In accordance with accounting standards the consideration and consent fees were expensed and are included in Gain / (loss) on extinguishment of debt / exchange offer in the accompanying Consolidated Statements of Income.
On August 4, 2010, the Trustee, at the request of the Issuers, gave notice of redemption of any and all of the remaining 2014 Notes. The redemption price was equal to 103.313% of the aggregate principal amount of the 2014 Notes redeemed plus accrued and unpaid interest thereon to September 3, 2010. The total redemption fees paid were $10.9 million. In accordance with accounting standards, the redemption fees were expensed and are included in Gain / (loss) on extinguishment of debt / exchange offer in the accompanying Consolidated Statements of Income. Also in connection with this transaction, unamortized debt issue costs and original issue discount related to the 2014 Notes totaling $18.4 million were expensed and are included in Gain / (loss) on extinguishment of debt / exchange offer in the accompanying Consolidated Statements of Income. The Company pays interest on the New 2020 Notes on February 15th and August 15th of each year. Commencing August 15, 2015, the New 2020 Notes are redeemable at the Company's option at a price equal to 103.875% of the principal amount redeemed and the premium over the principal amount declines ratably on August 15th of each year thereafter to zero on or after August 15, 2018. The New 2020 Notes rank pari passu in right of payment with borrowings under Wynn Las Vegas, LLC's credit facilities, the 2017 Notes and the 2020 Notes. The New 2020 Notes are senior secured obligations of the Issuers, guaranteed by certain of Wynn Las Vegas, LLC's subsidiaries and secured on an equal and ratable basis (with certain exceptions) by a first priority lien on substantially all of the existing and future assets of the Issuers and guarantors, and, subject to prior approval from the Nevada gaming authorities, a first priority lien on the equity interests of Wynn Las Vegas, LLC, all of which is the same collateral that secures borrowings under Wynn Las Vegas, LLC's credit facilities, the 2017 Notes and the 2020 Notes. During the year ended December 31, 2009, Wynn Resorts purchased $65.8 million face amount of the 2014 Notes through open market purchases at a discount. These transactions resulted in gains on early extinguishment of debt, net of the write-off of unamortized debt discount and debt issue costs, of $13.7 million for the year ended December 31, 2009. For accounting purposes this transaction was treated as an extinguishment of debt by Wynn Resorts in 2009. As part of the March 2010 exchange offer discussed above, Wynn Resorts exchanged $30 million of its 2014 Notes for the 2020 Notes. The remaining $35.8 million were redeemed as part of the tender offer and redemption of all of the 2014 Notes in August 2010 as described above. As of December 31, 2010, Wynn Resorts holds $30 million of the 2020 Notes which have not been contributed to its wholly-owned subsidiary, Wynn Las Vegas. Wynn Las Vegas Credit Facilities Concurrently with the issuance of the New 2020 Notes, the Company entered into a seventh amendment, dated August 4, 2010, to the Wynn Las Vegas Amended and Restated Credit Agreement (the "Credit Agreement"). After giving effect to this amendment, the maturity date with respect to a portion of the revolving credit facility and the term facility was extended to July 2015 and August 2015, respectively, and the interest margin in respect of the extended portion will increase after June 30, 2013. In addition, lenders made incremental term loans of $248.5 million having a maturity date of August 2015. The amendment made certain other changes including eliminating the maximum Consolidated Leverage Ratio and reducing the minimum Consolidated Interest Coverage Ratio to 1.00 to 1 through June 2013. As of December 31, 2010, the Credit Agreement consisted of a $108.5 million revolving credit facility due July 2013, a $258.4 million revolving credit facility due July 2015 (together the "Wynn Las Vegas Revolver"), a fully drawn $44.3 million term loan facility due August 2013 and a fully drawn $330.6 million term loan facility due August 2015 (together the "Wynn Las Vegas Term Loan"). The Wynn Las Vegas Revolver and the Wynn Las Vegas Term Loan are together referred to as the "Wynn Las Vegas Credit Facilities." As of December 31, 2010, $20.1 million had been borrowed under the Wynn Las Vegas Revolver. The Company also had $19.7 million of outstanding letters of credit that reduce its availability under the Wynn Las Vegas Revolver. The Company has availability of $327.2 million under the Wynn Las Vegas Revolver as of December 31, 2010.
For purposes of calculating interest, loans under the Wynn Las Vegas Credit Facilities will be designated, at the election of Wynn Las Vegas, LLC, as Eurodollar Loans or, in certain circumstances, Base Rate Loans. As of December 31, 2010, Eurodollar Loans under the Wynn Las Vegas Revolver and Wynn Las Vegas Term Loan due August 17, 2015 bear interest initially at the Eurodollar rate plus 3.0%. Eurodollar loans under the Wynn Las Vegas Term Loan due August 15, 2013 bear interest initially at the Eurodollar rate plus 1.875%. Interest on Eurodollar Loans is payable at the end of the applicable interest period in the case of interest periods of one, two or three months, and every three months in the case of interest periods of six months. Base Rate Loans bear interest at (a) the greatest of (i) the rate most recently announced by Deutsche Bank as its "prime rate," (ii) the Federal Funds Rate plus 1/2 of 1% per annum, and (iii) in the case of a Wynn Las Vegas Revolver loan the one month Eurodollar rate; plus (b) a borrowing margin of 2.0% for Wynn Las Vegas Revolver loans and 0.875% for Wynn Las Vegas Term Loans. Interest on Base Rate Loans will be payable quarterly in arrears. Wynn Las Vegas, LLC also pays, quarterly in arrears, 1.0% per annum on the daily average of unborrowed amounts under the Wynn Las Vegas Revolver The Wynn Las Vegas Credit Facilities are obligations of Wynn Las Vegas, LLC, guaranteed by each of the subsidiaries of Wynn Las Vegas, LLC, other than Wynn Completion Guarantor, LLC. Subject to an intercreditor agreement, and certain exceptions, the obligations of Wynn Las Vegas, LLC and each of the guarantors under the Wynn Las Vegas Credit Facilities are secured by: (1) a first priority pledge of all member's interests owned by Wynn Las Vegas, LLC in its subsidiaries (other than Wynn Completion Guarantor, LLC) and Wynn Resorts Holdings, LLC's 100% member's interest in Wynn Las Vegas, LLC; (2) first mortgages on all real property constituting Wynn Las Vegas, its golf course and Encore at Wynn Las Vegas; and (3) a first priority security interest in substantially all other existing and future assets of Wynn Las Vegas, LLC and the guarantors, excluding an aircraft beneficially owned by World Travel, LLC. The obligations of Wynn Las Vegas, LLC and the guarantors under the Wynn Las Vegas Credit Facilities rank equal in right of payment with their existing and future senior indebtedness, including indebtedness with respect to the 2017 Notes the 2020 Notes and the New 2020 Notes and ranks senior in right of payment to all of their existing and future subordinated indebtedness. In addition to scheduled amortization payments, Wynn Las Vegas, LLC is required to make mandatory prepayments of indebtedness under the Wynn Las Vegas Credit Facilities from the net proceeds of all debt offerings (other than those constituting certain permitted debt). Wynn Las Vegas, LLC is also required to make mandatory repayments of indebtedness under the Wynn Las Vegas Credit Facilities from specified percentages of excess cash flow, which percentages may decrease and/or be eliminated based on Wynn Las Vegas, LLC's leverage ratio. The Company does not expect to make any mandatory repayments pursuant to this requirement during 2011. Wynn Las Vegas, LLC has the option to prepay all or any portion of the indebtedness under the Wynn Las Vegas Credit Facilities at any time without premium or penalty. The Credit Agreement contains customary negative covenants and financial covenants, including negative covenants that restrict Wynn Las Vegas, LLC's ability to: incur additional indebtedness, including guarantees; create, incur, assume or permit to exist liens on property and assets; declare or pay dividends and make distributions or restrict the ability of Wynn Las Vegas, LLC's subsidiaries to pay dividends and make distributions; engage in mergers, investments and acquisitions; enter into transactions with affiliates; enter into sale-leaseback transactions; execute modifications to material contracts; engage in sales of assets; make capital expenditures; and make optional prepayments of certain indebtedness. The financial covenants include maintaining a Consolidated Interest Coverage Ratio, as defined, not less than 1.00 to 1 as of December 31, 2010. Management believes that the Company was in compliance with all covenants at December 31, 2010. The Consolidated Interest Coverage Ratio remains at 1.00 to 1 through June 2013.
Wynn Macau Credit Facilities As of December 31, 2010 and 2009, the Company's Wynn Macau credit facilities, as amended, consisted of a $550 million equivalent fully-funded senior term loan facility (the "Wynn Macau Term Loan"), and a $1 billion senior revolving credit facility (the "Wynn Macau Revolver") in a combination of Hong Kong and U.S. dollars (together the "Wynn Macau Credit Facilities"). Wynn Macau, S.A. also has the ability to increase the total facilities by an additional $50 million pursuant to the terms and provisions of the Amended Common Terms Agreement. As of December 31, 2010, the Wynn Macau Term Loan was fully drawn and $100.2 million was outstanding under the Wynn Macau Revolver. Consequently, there was availability of approximately $900 million under the Wynn Macau Revolver as of December 31, 2010. The Wynn Macau Term Loan matures in June 2014, and the Wynn Macau Revolver matures in June 2012. The principal amount of the Wynn Macau Term Loan is required to be repaid in quarterly installments, commencing in September 2011. Borrowings under the Wynn Macau Credit Facilities bear interest at LIBOR or the Hong Kong Interbank Offer Rate ("HIBOR") plus a margin which was 1.75% through September 30, 2010. Commencing in the fourth quarter of 2010, the Wynn Macau Credit Facilities are subject to a margin of 1.25% to 2.00% depending on Wynn Macau's leverage ratio at the end of each quarter. At December 31, 2010 the margin was 1.25% to 1.75%. Collateral for the Wynn Macau Credit Facilities consists of substantially all of the assets of Wynn Macau, S.A. Certain affiliates of the Company that own interests in Wynn Macau, S.A., either directly or indirectly through other subsidiaries, have executed guarantees of the loans and pledged their interests in Wynn Macau, S.A. as additional security for repayment of the loans. In addition, the Wynn Macau Credit Facilities' governing documents contain capital spending limits and other affirmative and negative covenants. The Wynn Macau Credit Facilities contain a requirement that the Company must make mandatory repayments of indebtedness from specified percentages of excess cash flow. If the Wynn Macau subsidiary meets a Consolidated Leverage Ratio, as defined, of greater than 4.0 to 1, such repayment is defined as 50% of Excess Cash Flow, as defined. If the Consolidated Leverage Ratio is less than 4.0 to 1, then no repayment is required. Based on current estimates the Company does not believe that the Wynn Macau Consolidated Leverage Ratio during the fiscal year ending December 31, 2011 will exceed 4.0 to 1. Accordingly, the Company does not expect to make any mandatory repayments pursuant to this requirement during 2011. The Wynn Macau Credit Facilities contain customary covenants restricting certain activities including, but not limited to: the incurrence of additional indebtedness, the incurrence or creation of liens on any of its property, sales and leaseback transactions, the ability to dispose of assets, and make loans or other investments. In addition, Wynn Macau was required by the financial covenants to maintain a Leverage Ratio, as defined, of not greater than 4.00 to 1 as of December 31, 2010, and an Interest Coverage Ratio, as defined, of not less than 2.00 to 1. Management believes that the company was in compliance with all covenants at December 31, 2010. In 2011, $74.1 million of the Wynn Macau Senior Term Loan Facility is due. In accordance with accounting standards, this $74.1 million has been classified as long-term debt as of December 31, 2010, because the Company has both the intent and ability to repay such amount with borrowings available under the Wynn Macau Senior Revolving Credit Facility, which does not mature until June 2012. In connection with the initial financing of Wynn Macau, Wynn Macau, S.A. entered into a Bank Guarantee Reimbursement Agreement with Banco Nacional Ultramarino, S.A. ("BNU") for the benefit of the Macau government. This guarantee assures Wynn Macau, S.A.'s performance under the casino concession agreement, including the payment of premiums, fines and indemnity for any material failure to perform under the terms of the concession agreement. As of December 31, 2010, the guarantee was in the amount of $300 million Macau Patacas (approximately US$37 million) and will remain at such amount until 180 days after the end of the term of the concession agreement. BNU, as issuer of the guarantee, is currently secured by a second priority security interest in the senior lender collateral package. From and after repayment of all indebtedness under the Wynn Macau Credit Facilities, Wynn Macau, S.A. is obligated to promptly, upon demand by BNU, repay any claim made on the guarantee by the Macau government. BNU is paid an annual fee for the guarantee not to exceed approximately $5.2 million Macau Patacas (approximately US$0.7 million). $42 Million Note Payable for Aircraft On March 30, 2007, World Travel, LLC, a subsidiary of Wynn Las Vegas, entered into a loan agreement with a principal balance of $42 million. The loan is guaranteed by Wynn Las Vegas, LLC and secured by a first priority security interest in one of the Company's aircraft. Principal payments of $350,000 plus interest are made quarterly with a balloon payment of $28 million due at maturity, April 1, 2017. Interest is calculated at 90-day LIBOR plus 125 basis points. $32.5 Million Note Payable for Aircraft On May 10, 2007, World Travel G-IV, LLC, a subsidiary of Wynn Resorts, entered into a $32.5 million term loan credit facility to finance the purchase of an aircraft. Principal payments of $542,000 plus interest are made quarterly with a balloon payment of $21.1 million due at maturity, August 10, 2012. Interest is calculated at LIBOR plus 115 basis points. Fair Value of Long-Term Debt The net book value of the 2014 Notes, the 2017 Notes, the 2020 Notes and the New 2020 Notes, as applicable, at December 31, 2010 and 2009, was $2.2 billion and $2.1 billion, respectively. The estimated fair value based on quoted market prices of the 2014 Notes, the 2017 Notes, the 2020 Notes and the New 2020 Notes was approximately $2.3 billion and $2.1 billion as of December 31, 2010 and 2009, respectively. The net book value of the Company's other debt instruments was $1.1 billion and $1.5 billion as of December 31, 2010 and 2009, respectively. The estimated fair value of the Company's other debt instruments was approximately $1.1 billion and $1.3 billion at December 31, 2010 and 2009. Scheduled Maturities of Long-Term Debt Scheduled maturities of long-term debt, including the accretion of debt discounts of $11.6 million, are as follows (amounts in thousands):
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- Definition
This element may be used as a single block of text to encapsulate the entire disclosure for long-term borrowings including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Interest Rate Swaps
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| Interest Rate Swaps | 8. Interest Rate Swaps The Company has entered into floating-for-fixed interest rate swap arrangements in order to manage interest rate risk relating to certain of its debt facilities. These interest rate swap agreements modify the Company's exposure to interest rate risk by converting a portion of the Company's floating-rate debt to a fixed rate. These interest rate swaps essentially fix the interest rate at the percentages noted below; however, changes in the fair value of the interest rate swaps for each reporting period have been recorded in the increase/decrease in swap fair value in the accompanying Consolidated Statements of Income, as the interest rate swaps do not qualify for hedge accounting. The Company measures the fair value of its interest rate swaps on a recurring basis pursuant to accounting standards for fair value measurements. These standards establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company categorizes these swap contracts as Level 2. The following table presents the historical fair value of the interest rate swaps recorded in the accompanying Consolidated Balance Sheets as of December 31, 2010 and 2009. The fair value approximates the amount the Company would pay if these contracts were settled at the respective valuation dates. Fair value is estimated based upon current, and predictions of future, interest rate levels along a yield curve, the remaining duration of the instruments and other market conditions, and therefore, is subject to significant estimation and a high degree of variability and fluctuation between periods. The fair value is adjusted, to reflect the impact of credit ratings of the counterparties or the Company, as applicable. These adjustments resulted in a reduction in the fair values as compared to their settlement values. As of December 31, 2010, $5.9 million of the interest rate swap liabilities are included in other accrued expenses and $15.6 million are included in other long-term liabilities. As of December 31, 2009, the interest rate swap liabilities are included in other long-term liabilities.
Wynn Las Vegas Swap The Company currently has one interest rate swap agreement to hedge a portion of the underlying interest rate risk on borrowings under the Wynn Las Vegas Credit Facilities. Under this swap agreement, beginning November 27, 2009, the Company pays a fixed interest rate of 2.485% on borrowings of $250 million incurred under the Wynn Las Vegas Credit Facilities in exchange for receipts on the same amount at a variable interest rate based on the applicable LIBOR at the time of payment. This interest rate swap fixes the interest rate on $250 million of borrowings at 5.485%. This interest rate swap agreement matures in November 2012. Wynn Macau Swaps The Company has two interest rate swap agreements to hedge a portion of the underlying interest rate risk on borrowings under the Wynn Macau Credit Facilities. Under the first swap agreement, the Company pays a fixed interest rate of 3.632% on U.S. dollar borrowings of $153.8 million incurred under the Wynn Macau Credit Facilities in exchange for receipts on the same amount at a variable interest rate based on the applicable LIBOR at the time of payment. Under the second swap agreement, the Company pays a fixed interest rate of 3.39% on Hong Kong dollar borrowings of HK $991.6 million (approximately US$127.9 million) incurred under the Wynn Macau Credit Facilities in exchange for receipt on the same amount at a variable interest rate based on the applicable HIBOR at the time of payment. As of December 31, 2010, these interest rate swaps fix the interest rates on the US dollar and the Hong Kong dollar borrowings under the Wynn Macau Credit Facilities at 4.88%-5.38% and 4.64%, respectively. These interest rate swap agreements mature in August 2011. The Company entered into a third interest rate swap agreement effective November 27, 2009, to hedge a portion of the underlying interest rate risk on borrowings under the Wynn Macau Credit Facilities. Under this swap agreement, the Company pays a fixed interest rate of 2.15% on borrowings of HK$2.3 billion (approximately US$300 million) incurred under the Wynn Macau Credit Facilities in exchange for receipts on the same amount at a variable interest rate based on the applicable HIBOR at the time of payment. As of December 31, 2010, this interest rate swap fixes the interest rate on such borrowings at 3.4%. This interest rate swap agreement matures in June 2012. |
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- Definition
Interest rate swaps text block No definition available.
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Related Party Transactions
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| Related Party Transactions | 9. Related Party Transactions Amounts Due to Officers The Company periodically provides services to Stephen A. Wynn, Chairman of the Board of Directors and Chief Executive Officer ("Mr. Wynn"), and certain other officers and directors of the Company, including the personal use of employees, construction work and other personal services. Mr. Wynn and other officers and directors have deposits with the Company to prepay any such items, which are replenished on an ongoing basis as needed. At December 31, 2010 and 2009, Mr. Wynn and the other officers and directors had a net deposit balance with the Company of $286,980 and $789,095, respectively. Villa Suite Lease On March 17, 2010, Elaine P. Wynn, a director of Wynn Resorts, and Wynn Las Vegas entered into an Agreement of Lease (the "EW Lease") for the lease of a villa suite as Elaine P. Wynn's personal residence. The EW Lease was approved by the Audit Committee of the Board of Directors of the Company. The term of the lease commenced as of March 1, 2010 and terminated December 31, 2010. The lease is currently on a month-to-month basis. Pursuant to the terms of the EW Lease, Elaine P. Wynn will pay annual rent equal to $350,000 which amount was determined by the Audit Committee with the assistance of a third-party appraisal. Certain services for, and maintenance of, the villa suite are included in the rental. The EW Lease superseded the terms of a prior agreement. On March 18, 2010, Mr. Wynn and Wynn Las Vegas entered into an Amended and Restated Agreement of Lease (the "SW Lease") for a villa suite to serve as Mr. Wynn's personal residence. The SW Lease amends and restates a prior lease. The SW Lease was approved by the Audit Committee of the Board of Directors of the Company. The term of the SW Lease commenced as of March 1, 2010 and runs concurrent with Mr. Wynn's employment agreement with the Company; provided that either party may terminate on 90 days notice. Pursuant to the SW Lease, the rental value of the villa suite will be treated as imputed income to Mr. Wynn, and will be equal to the fair market value of the accommodations provided. Effective March 1, 2010, and for the first two years of the term of the SW Lease, the rental value will be $503,831 per year. The rental value for the villa suite will be re-determined every two years during the term of the lease by the Audit Committee, with the assistance of an independent third-party appraisal. Certain services for, and maintenance of, the villa suite are included in the rental.
Home Purchase In May 2010, the Company entered into a new employment agreement with Linda Chen, who is also a director of Wynn Resorts. The term of the new employment agreement is through February 24, 2020. Under the terms of the new employment agreement, the Company purchased a home in Macau for use by Ms. Chen for approximately $5.4 million, and will expend additional funds to renovate the home and will also provide Ms. Chen the use of an automobile in Macau. Upon the occurrence of certain events set forth below, Ms. Chen shall have the option to purchase the home at the then fair market value of the home (as determined by an independent appraiser) less a discount equal to ten percentage points multiplied by each anniversary of the term of the agreement that has occurred (the "Discount Percentage"). The option is exercisable for (a) no consideration at the end of the term, (b) $1.00 in the event of termination of Ms. Chen's employment without "cause" or termination of Ms. Chen's employment for "good reason" following a "change of control" and (c) at a price based on the applicable Discount Percentage in the event Ms. Chen terminates the agreement due to material breach by the Company. Upon Ms. Chen's termination for "cause," Ms. Chen will be deemed to have elected to purchase the Macau home based on the applicable Discount Percentage unless the Company determines to not require Ms. Chen to purchase the home. If Ms. Chen's employment terminates for any other reason before the expiration of the term (e.g., because of her death or disability or due to revocation of gaming license), the option will terminate. The "Wynn" Surname Rights Agreement On August 6, 2004, the Company entered into agreements with Mr. Wynn that confirm and clarify the Company's rights to use the "Wynn" name and Mr. Wynn's persona in connection with its casino resorts. Under the parties' Surname Rights Agreement, Mr. Wynn granted the Company an exclusive, fully paid-up, perpetual, worldwide license to use, and to own and register trademarks and service marks incorporating the "Wynn" name for casino resorts and related businesses, together with the right to sublicense the name and marks to its affiliates. Under the parties' Rights of Publicity License, Mr. Wynn granted the Company the exclusive, royalty-free, worldwide right to use his full name, persona and related rights of publicity for casino resorts and related businesses, together with the ability to sublicense the persona and publicity rights to its affiliates, until October 24, 2017. |
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- Definition
This element may be used for the entire related party transactions disclosure as a single block of text. Disclosure may include: the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property Charges and Other
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| Property Charges and Other | 10. Property Charges and Other Property charges and other consisted of the following (amounts in thousands):
Property charges and other generally include costs related to the retirement of assets for remodels and asset abandonments. Property charges and other for the year ended December 31, 2010 include a contract termination payment of $14.9 million related to a management contract for certain of the nightclubs at Wynn Las Vegas as well as miscellaneous renovations, abandonments and gain/loss on sale of equipment at Wynn Las Vegas and Wynn Macau. Property charges and other for the year ended December 31, 2009 include a $16.7 million charge for the abandonment of the front porte-cochere at Encore at Wynn Las Vegas to make way for an addition at that property, a $6.8 million charge for the write-off of two aircraft deposits, and a $5 million charge related to miscellaneous remodels, abandonments and loss on sale of equipment. Property charges and other for the year ended December 31, 2008 include a charge of $17.8 million for costs associated with Spamalot at Wynn Las Vegas which closed in mid-July 2008. The charge includes production rights that were included in intangible assets, show production costs that were included in other assets and certain other property and equipment. The Company also incurred a charge of $3.6 million related to the abandonment of certain existing floor space at Wynn Macau to begin construction on a new restaurant. The remaining property charges were related to miscellaneous renovations and abandonments at both Wynn Las Vegas and Wynn Macau. |
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- Definition
The aggregate amount of expenses charged against earnings to eliminate the capitalized costs of projects abandoned during the reporting period and expenses associated with business termination activities. No definition available.
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Stockholders' Equity
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12 Months Ended |
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Dec. 31, 2010
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| Stockholders' Equity | 11. Stockholders' Equity Common Stock The Company is authorized to issue up to 400,000,000 shares of its common stock, $0.01 par value per share (the "Common Stock"). As of December 31, 2010 and 2009, 124,599,508 shares and 123,293,456 shares, respectively, of the Company's Common Stock were outstanding. Except as otherwise provided by the Company's articles of incorporation or Nevada law, each holder of the Common Stock is entitled to one vote for each share held of record on each matter submitted to a vote of stockholders. Holders of the Common Stock have no cumulative voting, conversion, redemption or preemptive rights or other rights to subscribe for additional shares. Subject to any preferences that may be granted to the holders of the Company's preferred stock, each holder of Common Stock is entitled to receive ratably such dividends as may be declared by the Board of Directors out of funds legally available therefore, as well as any distributions to the stockholders and, in the event of liquidation, dissolution or winding up of the Company, is entitled to share ratably in all assets of the Company remaining after payment of liabilities. On June 6, 2007, the Board of Directors of Wynn Resorts authorized an equity repurchase program of up to $1.2 billion. On July 10, 2008, the Board of Directors of the Company authorized an increase of $500 million to its previously announced equity repurchase program bringing the total authorized to $1.7 billion. The repurchase program may include repurchases from time to time through open market purchases or negotiated transactions, depending upon market conditions. No repurchases were made during the years ended December 31, 2010 or 2009. During the year ended December 31, 2008, the Company repurchased 10,915,633 shares for a net cost of $940.1 million. As of December 31, 2010, the Company had repurchased a cumulative total of 12,804,954 shares of the Company's Common Stock for a net cost of $1.1 billion under the program. In March 2009, the Company completed a secondary common stock offering of 11,040,000 shares with net proceeds of $202.1 million. In November 2008, the Company completed a secondary common stock offering of 8 million shares with net proceeds of $344.3 million. Preferred Stock The Company is authorized to issue up to 40,000,000 shares of undesignated preferred stock, $0.01 par value per share (the "Preferred Stock"). As of December 31, 2010, the Company had not issued any Preferred Stock. The Board of Directors, without further action by the holders of Common Stock, may designate and issue shares of Preferred Stock in one or more series and may fix or alter the rights, preferences, privileges and restrictions, including the voting rights, redemption provisions (including sinking fund provisions), dividend rights, dividend rates, liquidation rates, liquidation preferences, conversion rights and the description and number of shares constituting any wholly unissued series of Preferred Stock. The issuance of such shares of Preferred Stock could adversely affect the rights of the holders of Common Stock. The issuance of shares of Preferred Stock under certain circumstances could also have the effect of delaying or preventing a change of control of the Company or other corporate action. |
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- Definition
Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Cash Distributions
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12 Months Ended |
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Dec. 31, 2010
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| Cash Distributions | 12. Cash Distributions On November 2, 2010, the Company's Board of Directors declared a cash dividend of $8 per share on its outstanding Common Stock. This dividend was paid on December 7, 2010 to stockholders of record on November 23, 2010. For the year ended December 31, 2010, $996.5 million was recorded as a distribution in the accompanying Consolidated Statements of Stockholders' Equity. Of this amount $6.7 million was recorded as a liability which will be paid to the holders of nonvested stock upon the vesting of that stock. On May 26, 2010, the Company paid a dividend of $0.25 per share to holders of record on May 12, 2010. On August 26, 2010, the Company paid a dividend of $0.25 per share to holders of record on August 12, 2010. For the year ended December 31, 2010, $61.8 million was recorded as a distribution against retained earnings. Of this amount $0.4 million was recorded as a liability which will be paid to holders of nonvested stock upon the vesting of that stock.
On November 6, 2009, the Company's Board of Directors declared a cash dividend of $4 per share on its outstanding Common Stock. This dividend was paid on December 3, 2009, to stockholders of record on November 19, 2009. For the year ended December 31, 2009, $493.1 million was recorded as a distribution in the accompanying Consolidated Statements of Stockholders' Equity. Of this amount $3.7 million was recorded as a liability which will be paid to the holders of nonvested stock upon the vesting of that stock |
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- Definition
Schedule of payments of cash or stock or units made to members or limited partners of the LLC or LP during an accounting period. No definition available.
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Noncontrolling Interest
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12 Months Ended |
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Dec. 31, 2010
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| Noncontrolling Interest | 13. Noncontrolling Interest In October 2009, Wynn Macau, Limited, an indirect wholly-owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 shares (27.7%) of this subsidiary's common stock (the "Wynn Macau Limited IPO"). Proceeds to the Company as a result of this transaction were approximately $1.8 billion, net of transaction costs of approximately $84 million. The shares of Wynn Macau, Limited were not and will not be registered under the Securities Act, and may not be offered or sold in the United States absent a registration under the Securities Act, or an applicable exception from such registration requirements. In connection with this transaction, in October 2009, the Company recorded $107.4 million of noncontrolling interest as a separate component of equity in the accompanying Consolidated Balance Sheets and has followed accounting standards for noncontrolling interest in the consolidated financial statements beginning in October 2009. Net income attributable to noncontrolling interest was $156.5 million and $18.5 million for the years ended December 31, 2010 and 2009, respectively. On November 2, 2010, the Wynn Macau, Limited Board of Directors approved a HK$0.76 per share dividend. The total dividend amount was approximately $508 million and the Company's share of this dividend was $367 million. A reduction of $140.7 million was made to noncontrolling interest in the accompanying Consolidated Balance Sheets to reflect the payment of this dividend. |
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- Definition
Description of noncontrolling interest in consolidated subsidiaries which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net income (loss) of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Benefit Plans
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Dec. 31, 2010
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| Benefit Plans | 14. Benefit Plans Employee Savings Plan The Company established a retirement savings plan under Section 401(k) of the Internal Revenue Code covering its U.S. non-union employees in July 2000. The plan allows employees to defer, within prescribed limits, a percentage of their income on a pre-tax basis through contributions to this plan. Prior to March 16, 2009, the Company matched the contributions, within prescribed limits, with an amount equal to 100% of the participant's initial 2% tax deferred contribution and 50% of the tax deferred contribution between 2% and 4% of the participant's compensation. The Company recorded an expense for matching contributions of $0, $1.4 million and $5.3 million for the years ended December 31, 2010, 2009 and 2008, respectively. Effective March 16, 2009, the Company suspended matching contributions to this plan. Wynn Macau also operates a defined contribution retirement benefits scheme (the "Scheme"). The Scheme allows eligible employees to contribute 5% of their salary to the Scheme and the Company matches any contributions. The assets of the Scheme are held separately from those of the Company in an independently administered fund. The Company's matching contributions vest to the employee at 10% per year with full vesting in ten years. Forfeitures of unvested contributions are used to reduce the Company's liability for its contributions payable under the Scheme. For the period from March 1, 2009 through April 30, 2010, the Company suspended its matching contributions. The contributions were reinstated effective May 1, 2010. During the years ended December 31, 2010, 2009 and 2008, the Company recorded an expense for matching contributions of $3.3 million, $0.5 million and $6.1 million, respectively. Union employees in the Las Vegas operations are covered by various multi-employer pension plans. The Company recorded an expense of $6.8 million, $6.2 million and $4.6 million under such plans for the years ended December 31, 2010, 2009 and 2008, respectively. Information from the plans' sponsors is not available to permit the Company to determine its share of unfunded vested benefits, if any. Stock-Based Compensation The Company established the 2002 Stock Incentive Plan (the "WRL Stock Plan") to provide for the grant of (i) incentive stock options, (ii) compensatory (i.e. nonqualified) stock options, and (iii) nonvested shares of Common Stock of Wynn Resorts, Limited. Employees, directors (whether employee or nonemployee) and independent contractors or consultants of the Company are eligible to participate in the WRL Stock Plan. However, only employees of the Company are eligible to receive incentive stock options. A maximum of 12,750,000 shares of Common Stock are reserved for issuance under the WRL Stock Plan. As of December 31, 2010, 4,107,378 shares remain available for the grant of stock options or nonvested shares of Common Stock. Wynn Macau, Limited Stock Incentive Plan The Company's majority-owned subsidiary Wynn Macau, Limited adopted a stock incentive plan effective September 16, 2009 (the "WML Stock Plan"). The purpose of the WML Stock Plan is to reward participants, which may include directors and employees of Wynn Macau, Limited who have contributed towards enhancing the value of Wynn Macau and its shares. A maximum of 518.75 million shares have been reserved for issuance under the WML Stock Plan. As of December 31, 2010, 1 million options were outstanding.
Stock Options Options are granted at the current market price at the date of grant. The WRL Stock Plan provides for a variety of vesting schedules all determined at the time of grant. All options expire ten years from the date of grant. A summary of option activity under the WRL Stock Plan as of December 31, 2010, and the changes during the year then ended is presented below:
The following information is provided for stock options of the WRL Stock Plan (amounts in thousand, except weighted average grant date fair value):
As of December 31, 2010, there was a total of $70.9 million of unamortized compensation related to stock options, which is expected to be recognized over the vesting period of the related grants through May 2019. Nonvested Shares A summary of the status of the WRL Stock Plan's nonvested shares as of December 31, 2010 and changes during the year then ended is presented below:
The following information is provided for nonvested stock of the WRL Stock Plan (amounts in thousands, except weighted average grant date fair value):
Approximately $36.7 million of unamortized compensation cost relating to nonvested shares of Common Stock at December 31, 2010 will be recognized as compensation over the vesting period of the related grants through December 2016. Compensation Cost The Company uses the Black-Scholes valuation model to determine the estimated fair value for each option grant issued, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Expected volatility is based on implied and historical factors related to the Company's Common Stock. Expected term represents the weighted average time between the option's grant date and its exercise date. The Company uses the simplified method for companies with a limited trading history to estimate the expected term. The risk-free interest rate used for each period presented is based on the U.S. Treasury yield curve at the time of grant for the period equal to the expected term. The fair values of stock options granted under the WRL Stock Plan were estimated on the date of grant using the following weighted-average assumptions:
The fair value of the 1 million stock options granted under the WML Stock Plan on the date of grant was also estimated using the Black-Scholes valuation model using the following assumptions:
The total compensation cost for both the WRL Stock Plan and the WML Stock Plan is allocated as follows (amounts in thousands):
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- Definition
This element may be used to capture the entire disclosure for an employer that sponsors one or more defined benefit pension plans or one or more other defined benefit postretirement plans, of certain information, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Dec. 31, 2010
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| Income Taxes | 15. Income Taxes Consolidated income before taxes for domestic and foreign operations consisted of the following (amounts in thousands):
The Company's (provision) benefit for income taxes consisted of the following (amounts in thousands):
The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (amounts in thousands):
The income tax provision (benefit) differs from that computed at the federal statutory corporate tax rate as follows:
The Company has no U.S. tax loss carryforwards. The Company incurred foreign tax losses of $89.2 million, $64.6 million, and $124 million during the tax years ended December 31, 2010, 2009, and 2008, respectively. These foreign tax loss carryforwards expire in 2013, 2012, and 2011. During 2010, the Company increased its valuation allowance for these tax loss carryforwards such that these foreign tax loss carryforwards are fully reserved. The Company recorded tax benefits resulting from the exercise of nonqualified stock options and the value of vested restricted stock of $10.5 million, $49 million, and $0 as of December 31, 2010, 2009, and 2008, respectively, in excess of the amounts reported for such items as compensation costs under accounting standards related to stock-based compensation. The Company uses a with-and-without approach to determine if the excess tax deductions associated with compensation costs have reduced income taxes payable. Accounting standards require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied. During 2010 and 2009, the aggregate valuation allowance for deferred tax assets increased by $574.2 million and $69.1 million, respectively. The 2010 and 2009 increases are primarily related to foreign tax credit carryforwards that are not considered more likely than not realizable. As discussed in the succeeding paragraph, the Company does not consider forecasted future operating results when scheduling the realization of deferred tax assets and the required valuation allowance but instead relies solely on the reversal of net taxable temporary differences. The ultimate realization of the Company's recorded foreign tax credit deferred tax asset is dependent upon the incurrence of sufficient US income tax liabilities attributable to foreign source income during the 10-year foreign tax credit carryover period. The Macau special gaming tax is 35% of gross gaming revenue. The U.S. taxing regime only allows a credit for 35% of "net" foreign source income. In determining the valuation allowance in accordance with accounting standards, due to the significant U.S. operating losses, the Company currently could not rely on forecasted future U.S. taxable income. Instead, the valuation allowance was determined by scheduling the existing U.S. "net" taxable temporary differences that were expected to reverse during the 10-year foreign tax credit carryover period and then applying U.S. income tax rules applicable to foreign tax credit utilization to the results in order to determine the amount of foreign tax credit expected to be utilized in the future.
During the year ended December 31, 2008, the Company completed a study of the taxes, levies and obligations assessed on operations of Wynn Macau under Macau law and the Macau Gaming Concession. The study concluded the Macau Special Gaming Tax more likely than not qualified as a tax paid in lieu of an income tax under the Internal Revenue Code. In February 2010, the Company and the IRS entered into a Pre-Filing Agreement ("PFA") providing that the Macau Special Gaming Tax qualifies as a tax paid in lieu of an income tax and could be claimed as a U.S. foreign tax credit. During the years ended December 31, 2010, 2009 and 2008, the Company recognized tax benefits of $955.2 million, $125.3 million and $722 million (net of valuation allowance increases) for foreign tax credits applicable to the earnings of Wynn Macau S.A. A significant portion of these credits result from the treatment of the Macau Special Gaming Tax as a U.S. foreign tax credit. Of the $955.2 million, $125.3 million and $722 million, $949.5 million, $121.5 million and $650.6 million were used to offset 2010, 2009 and 2008 U.S. income tax expense incurred as a result of the repatriation of Wynn Macau S.A. earnings and (in 2010 and 2009) the Wynn Macau Limited IPO proceeds. The remaining $5.8 million, $3.8 million and $71.4 million (net of valuation allowance) were recorded as a deferred tax asset. Of the Company's foreign tax credit carryforwards as of December 31, 2010 of $1.307 billion before valuation allowance, $665.7 million will expire in 2018, $110.9 million will expire in 2019 and $530.4 million in 2020. Of the December 31, 2010, 2009 and 2008 U.S. valuation allowances of $1.254 billion, $694.5 million and $632 million, $1.246 billion, $689.4 million and $626.9 million relate to U.S. foreign tax credits expected to expire unutilized, $1.3 million, $0 and $0 represent stock-based compensation for foreign based services that may be nondeductible, $2.7 million, $1.3 million and $1.3 million represent stock-based compensation that may be nondeductible under IRC §162(m), and $3.8 million is attributable to syndication costs. Subsequent recognition of income tax benefits associated with syndication costs will be allocated to additional paid-in capital. As of December 31, 2010 and 2009, the Company has not provided deferred U.S. income taxes or foreign withholding taxes on temporary differences of approximately $325.1 million and $358.2 million resulting from earnings of certain non-U.S. subsidiaries which exceed U.S. tax earnings and profits. These amounts in excess thereof are permanently reinvested outside of the U.S. The amount of the unrecognized deferred tax liability without regard to potential foreign tax credits associated with these temporary differences is approximately $113.8 million and $125.4 million for the year ended December 31, 2010 and 2009. At December 31, 2008, the Company had no earnings in foreign subsidiaries that were considered permanently reinvested. Deferred income taxes are provided for foreign earnings planned for repatriation. In connection with the Wynn Macau Limited IPO in 2009 (Note 13), the Company recorded a deferred tax liability net of expected foreign tax credits of $56.1 million to the extent that the book basis of the investment exceeded the tax basis and where that difference was expected to reverse in the foreseeable future. The deferred tax liability was recorded as a reduction in additional paid-in capital. In 2009, the Company repatriated $400 million from the Wynn Macau Limited IPO proceeds leaving a deferred tax liability net of expected foreign tax credits of $41.5 million as of December 31, 2009. During 2010 the Company repatriated an additional $1.143 billion of Wynn Macau, Limited IPO proceeds resulting in the reversal of the $41.5 million deferred tax liability. The amounts repatriated during 2010 and 2009 were used to fund domestic operations, to provide additional U.S. liquidity, and to fund dividends to the Company's shareholders. During 2008, the Company repatriated $1.071 billion in earnings from Wynn Macau. The 2008 earnings were repatriated to fund the repurchase of $625 million in principal of the Term Loan Facility, to provide available funding for possible future debt repurchases, to provide funding for the completion of Encore at Wynn Las Vegas, and to provide liquidity. Effective September 6, 2006, Wynn Macau, S.A. received a 5-year exemption from Macau's 12% Complementary Tax on casino gaming profits. Accordingly, the Company was exempted from the payment of $64.4 million, $31.7 million, and $27.7 million in such taxes for the years ended December 31, 2010, 2009 and 2008, respectively. The Company's non-gaming profits remain subject to the Macau Complementary Tax and its casino winnings remain subject to the Macau Special Gaming tax and other levies in accordance with its concession agreement. On October 21, 2010, Wynn Resorts (Macau), S.A. applied for an additional 5-year exemption from Macau's 12% Complementary Tax on casino gaming profits. On November 30, 2010 the request for an additional 5-year Complementary Tax exemption was approved, thereby exempting the casino gaming profits of Wynn Macau S.A. through December 31, 2015. In June 2009, Wynn Macau, S.A. entered into an agreement with the Macau Special Administrative Region that provides for an annual payment of MOP $7.2 million (approximately $900,000 US dollars) to the Macau Special Administrative Region as complementary tax otherwise due by shareholders of Wynn Macau S.A. on dividend distributions. This agreement is effective as of 2006. Therefore, included in the tax provision for the year ended December 31, 2009, are the amounts related to the years 2006 through 2009 totaling $3.6 million. This agreement on dividends is effective through 2010. On November 3, 2010, Wynn Macau, S.A. applied for an extension of this agreement for an additional five years through December 31, 2015. As of December 31, 2010 the request was still being processed by the Macau government. Effective January 1, 2007, the Company adopted the accounting standards related to accounting for uncertain tax positions. This standard requires that tax positions be assessed using a two-step process. A tax position is recognized if it meets a "more likely than not" threshold, and is measured at the largest amount of benefit that is greater than 50 percent likely of being realized. Uncertain tax positions must be reviewed at each balance sheet date. Liabilities recorded as a result of this analysis must generally be recorded separately from any current or deferred income tax accounts. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in thousands):
As of December 31, 2010 and 2009, the Company has recorded a liability related to uncertain tax positions of $35.9 million and $90.3 million, respectively. These amounts are included in Other Long Term Liabilities in the accompanying Consolidated Balance Sheets. As of December 31, 2010 and 2009, $48 million and $58 million, respectively, of liabilities related to U.S. and foreign uncertain tax positions that increase the NOL and foreign tax credit carryforward deferred tax assets are classified as reductions of the NOL and foreign tax credit carryforward deferred tax assets in the net deferred tax asset and liability table above. Other uncertain tax positions not increasing the NOL and foreign tax credit carryforward deferred tax assets have been recorded as increases in the liability for uncertain tax positions.
As of December 31, 2010 and 2009, $17.9 million and $16.6 million, respectively, of unrecognized tax benefit would, if recognized, impact the effective tax rate. If incurred, the Company would recognize penalties and interest related to unrecognized tax benefits in the provision for income taxes. During the years ended December 31, 2010 and 2009, the Company recognized no interest or penalties. The Company's unrecognized tax benefits include certain income tax accounting methods. These accounting methods govern the timing and deductibility of income tax deductions. As a result, the Company's unrecognized tax benefits could increase by a range of $0 to $8 million over the next 12 months. The Company files income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. The Company's income tax returns are subject to examination by the IRS and other tax authorities in the locations where it operates. As of December 31, 2010, the Company has filed domestic income tax returns for the years 2002 to 2009 and foreign income tax returns for 2002 to 2009. The Company's 2002 to 2009 domestic income tax returns remain subject to examination by the IRS and the Company's 2006 to 2009 Macau income tax returns remain subject to examination by the Macau Finance Bureau. During 2010, the Company reached an agreement with the Appellate division of the IRS regarding issues raised during the examination of its 2004 and 2005 income tax returns. The issues for consideration by the Appellate division were temporary differences and related to the deduction of certain costs incurred during the development and construction of Wynn Las Vegas and the appropriate tax depreciation recovery periods applicable to certain assets. As a result of this settlement with the Appellate division, the Company reduced its unrecognized tax benefits by $78.4 million. This reduction in unrecognized tax benefits resulted in a decrease in the Company's liability for uncertain tax positions of $55 million. The settlement of the 2004 and 2005 examination issues did not result in a cash tax payment but rather utilized $88.5 million and $2.5 million in foreign tax credit and general business credit carryforwards. The statute of limitations for the 2004 and 2005 U.S. income tax returns have been extended to September 30, 2011. During 2010, the Company received the results of an IRS examination of its 2006 through and 2008 U.S. income tax returns and filed its appeal of the examination's findings with the Appellate division of the IRS. In connection with that appeal, the Company agreed to extend the statute of limitations for its 2006 and 2007 tax returns to December 31, 2011. The Company believes that it will likely reach an agreement with the IRS with respect to the examination of its 2006, 2007 and 2008 U.S. income tax returns within the next 12 months. The issues under examination in these years are temporary differences and relate to the treatment of discounts extended to Las Vegas casino customers gambling on credit, the deduction of certain costs incurred during the development and construction of Encore at Wynn Las Vegas and the appropriate tax depreciation recovery periods applicable to certain assets. Upon the settlement of these issues, unrecognized tax benefits could decrease by $0 to $54 million. The resolution of the 2006, 2007 and 2008 examination is not expected to result in any significant cash payment but rather the utilization of a portion of the foreign tax credit carryforward. During 2010, the Macau Finance Bureau commenced an examination of the 2006 and 2007 Macau income tax returns filed by Wynn Macau S.A. The Company believes that the examination of the 2006 Macau tax return will likely conclude within the next 12 months; however, the Company is unable to provide a summary of the likely examination issues or the impact on unrecognized tax benefits. As of December 31, 2010, no significant issues have been brought to the Company's attention and it believes that its liability for uncertain tax positions recorded by Wynn Macau S.A. is adequate with respect to these years. During the fourth quarter of 2010, the IRS commenced an examination of the Company's 2009 U.S. income tax return. Since the examination is in its initial stages the Company is unable to determine if it will conclude within the next twelve months. The Company believes that its liability for uncertain tax positions related to the period covered by the examination is adequate. The resolution of the 2009 IRS examination is not expected to result in any significant cash payment, but rather the utilization of a portion of the 2009 foreign tax credit carryforward. In January 2011, the Company received notification that it had been accepted into the IRS Compliance Assurance Program ("CAP") for the 2011 tax year. Under the CAP program the IRS agents and the taxpayer work together in a pre-filing environment to examine transactions and issues and thus complete the tax examination before the tax return is filed. Entrance into this program should enable the Company to reduce time spent on tax administration and enhance tax reserve and financial statement reporting integrity. |
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- Definition
Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Dec. 31, 2010
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| Commitments and Contingencies | 16. Commitments and Contingencies Wynn Macau Land Concession Contract. Wynn Macau, S.A. has entered into a land concession contract for the land on which Wynn Macau is located. Under the land concession contract, Wynn Macau, S.A. leases a parcel of approximately 16 acres from the government for an initial term of 25 years, with a right to renew for additional periods with government approval. Wynn Macau, S.A. has made payments to the Macau government under the land concession contract totaling $42.7 million. Wynn Macau, S.A. also paid approximately $18.4 million to an unrelated third party for its relinquishment of rights to a portion of the land. In 2009, the Company and the Macau government agreed to modify this land concession as a result of the construction of Encore at Wynn Macau and the additional square footage that was added as a result of such construction. In November 2009, the Company made an additional one-time land premium payment of $14.2 million. During the term of the land concession contract, Wynn Macau, S.A. is required to make annual lease payments of up to $525,000. Cotai Land Agreement. On August 1, 2008, subsidiaries of Wynn Resorts, Limited entered into an agreement with an unrelated third party to make a one-time payment in the amount of $50 million in consideration of the unrelated third party's relinquishment of certain rights with respect to any future development on the 52 acres of land in the Cotai area of Macau. The payment will be made within 15 days after the Government of the Special Administrative Region of the People's Republic of China publishes the Company's rights to the land in the government's official gazette. The Company has filed an application for the land with the government of Macau and is awaiting final approval. Aircraft Deposits The Company made deposits on three aircraft purchases totaling $19.4 million. The Company was scheduled to take delivery of those aircraft in 2009, 2012 and 2017 with additional payments to be made totaling $142.2 million. On February 19, 2009, the Company cancelled the agreements to purchase two of these aircraft. In connection with the cancellation the Company wrote-off $6.8 million of the deposits, net of amounts refunded. The delivery date for the third aircraft is scheduled for June 2012, and as of December 31, 2010, the Company has made deposits of $8 million toward the purchase of this aircraft, with additional payments to be made totaling $49.3 million. Leases and other arrangements The Company is the lessor under several retail leases and has entered into license and distribution agreements for several additional retail outlets. The Company also is a party to joint venture agreements for the operation of one retail outlet and the Ferrari and Maserati automobile dealership at Wynn Las Vegas.
The following table presents the future minimum rentals to be received under the operating leases (amounts in thousands):
In addition, the Company is the lessee under leases for office space in Las Vegas, Macau and certain other locations, warehouse facilities, the land underlying the Company's aircraft hangar and certain office equipment.
At December 31, 2010, the Company was obligated under non-cancelable operating leases to make future minimum lease payments as follows (amounts in thousands):
Rent expense for the years ended December 31, 2010, 2009 and 2008, was $24.4 million, $17.2 million and $17.8 million, respectively. Self-insurance The Company's domestic subsidiaries are covered under a self-insured medical plan up to a maximum of $300,000 per year for each insured person. Amounts in excess of these thresholds are covered by the Company's insurance programs, subject to customary policy limits. The Company's foreign subsidiaries are fully-insured. Employment Agreements The Company has entered into employment agreements with several executive officers, other members of management and certain key employees. These agreements generally have three- to five-year terms and typically indicate a base salary and often contain provisions for discretionary bonuses. Certain of the executives are also entitled to a separation payment if terminated without "cause" or upon voluntary termination of employment for "good reason" following a "change of control" (as these terms are defined in the employment contracts).
Litigation On May 3, 2010, Atlantic-Pacific Capital, Inc. ("APC") filed an arbitration demand with Judicial Arbitration and Mediation Services regarding an agreement with the Company. The action concerns a claim for compensation of approximately $32 million pursuant to an agreement entered into between APC and the Company on or about March 30, 2008 whereby APC was engaged to raise equity capital for an investment vehicle sponsored by the Company. APC is seeking compensation unrelated to the investment vehicle. The Company has denied APC's claims for compensation. The Company filed a Complaint for Damages and Declaratory Relief against APC in the District Court, Clark County, Nevada, on May 10, 2010. APC removed the action to the United States District Court, District of Nevada. Management believes that APC's claim against the Company is without merit and intends to defend this matter vigorously. Sales and Use Tax on Complimentary Meals In March 2008, the Nevada Supreme Court ruled, in the matter captioned Sparks Nugget, Inc. vs. The State of Nevada Ex Rel. Department of Taxation, that food and non-alcoholic beverages purchased for use in providing complimentary meals to customers and to employees was exempt from sales and use tax. In July 2008, the Court denied the State's motion for rehearing. Through April 2008, Wynn Las Vegas has paid use tax on these items and has filed for refunds for the periods from April 2005 to April 2008. The amount subject to these refunds is $5.4 million. Due to the uncertainty surrounding this matter, a receivable has not been recorded as of December 31, 2010. |
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- Definition
Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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Dec. 31, 2010
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| Segment Information | 17. Segment Information The Company monitors its operations and evaluates earnings by reviewing the assets and operations of Wynn Las Vegas (including Encore at Wynn Las Vegas) and Wynn Macau (including Encore at Wynn Macau). The Company's total assets and capital expenditures by segment consisted of the following (amounts in thousands):
The Company's results of operations by segment for the years ended December 31, 2010, 2009 and 2008 consisted of the following (amounts in thousands):
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- Definition
This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Information (Unaudited)
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Dec. 31, 2010
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| Quarterly Financial Information (Unaudited) | 18. Quarterly Financial Information (Unaudited) The following tables (amounts in thousands, except per share data) present selected quarterly financial information for 2010 and 2009, as previously reported. Because income (loss) per share amounts are calculated using the weighted average number of common and dilutive common equivalent shares outstanding during each quarter, the sum of the per share amounts for the four quarters may not equal the total income per share amounts for the year.
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- Definition
This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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WYNN RESORTS, LIMITED (Parent Company Only)
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Dec. 31, 2010
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| WYNN RESORTS, LIMITED (Parent Company Only) | Schedule I—Condensed financial information of the registrant. WYNN RESORTS, LIMITED (Parent Company Only) CONDENSED BALANCE SHEETS (amounts in thousands, except share data)
The accompanying notes are an integral part of these condensed financial statements.
WYNN RESORTS, LIMITED (Parent Company Only) CONDENSED STATEMENTS OF INCOME (amounts in thousands, except per share data)
The accompanying notes are an integral part of these condensed financial statements.
WYNN RESORTS, LIMITED (Parent Company Only) CONDENSED STATEMENTS OF CASH FLOWS (amounts in thousands)
The accompanying notes are an integral part of these condensed financial statements.
WYNN RESORTS, LIMITED (Parent Company Only) NOTES TO CONDENSED FINANCIAL STATEMENTS 1. Basis of Presentation The accompanying condensed financial statements include only the accounts of Wynn Resorts, Limited (the "Company"). Investments in the Company's subsidiaries are accounted for under the equity method. In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Wynn Macau, Limited sold through an initial public offering, including the over allotment, 1,437,500,000 (27.7%) shares of this subsidiary's common stock. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted since this information is included in the Company's consolidated financial statements included elsewhere in this Form 10-K. 2. Commitments and Contingencies The Company is a holding company and, as a result, its ability to pay dividends is dependent on its subsidiaries' ability to provide funds to it. Restrictions imposed by Wynn Las Vegas, LLC's (a wholly-owned indirect subsidiary of the Company) debt instruments significantly restrict certain of the Company's key subsidiaries holding a majority of the consolidated group's total assets, including Wynn Las Vegas, LLC, from making dividends or distributions to the Company, subject to certain exceptions for affiliated overhead expenses as defined in the agreements governing Wynn Las Vegas, LLC's debt instruments, unless certain financial and non-financial criteria have been satisfied. In addition, the terms of the loan agreement of Wynn Resorts (Macau), S.A. noted below contains similar restrictions. The Company received a cash dividend of $1.51 billion from Wynn Group Asia in 2010. The Company received a cash dividend of $530 million from Wynn Group Asia in November 2009. 3. Long-Term Debt $1 Billion Term Loan On June 21, 2007, the Company entered into a $1 billion term loan (the "Wynn Resorts Term Loan"). Borrowings under the Wynn Resorts Term Loan were available in the form of a delayed-draw term loan facility available through December 31, 2007. As of December 31, 2007, the Company had borrowed $1 billion under the Wynn Resorts Term Loan. The Wynn Resorts Term Loan was available to fund (a) the Company's equity repurchase program announced on June 7, 2007 and (b) up to $350 million for general corporate purposes. On August 1, 2008, the Company amended the Wynn Resorts Term Loan to allow Stephen A. Wynn, the Company's Chairman and Chief Executive Officer, to purchase an interest in the debt. On August 1, 2008, Mr. Wynn advised the Company that he purchased $198,250,000 of the face amount of the outstanding debt under the Wynn Resorts Term Loan from a third party. On November 13, 2008, the Company further amended the Wynn Resorts Term Loan to purchase loans outstanding up to $650 million prior to March 31, 2009. On November 26, 2008, the Company purchased $625 million of loans under the Wynn Resorts Term Loan for $596.1 million, reflecting a discounted price of 95.375%. The loans purchased included the interests held by Mr. Wynn. In connection with this transaction, the Company recognized a $22.3 million gain on early retirement of debt, net of the write-off of unamortized debt issue costs and fees during 2008.
In June 2009, the Company purchased and retired the remaining outstanding loans of $375 million under the Wynn Resorts Term Loan for $364.7 million, reflecting a discounted price of 97.25%. In connection with this transaction, the Company recognized an $8.8 million gain on early retirement of debt, net of the write-off of unamortized debt issue cost during 2009. 4. Equity Repurchase Program On June 6, 2007, the Board of Directors of Wynn Resorts authorized an equity repurchase program of up to $1.2 billion. On July 10, 2008, the Board of Directors authorized an increase of $500 million to the previously announced equity repurchase program bringing the total authorized to $1.7 billion. The repurchase program may include repurchases from time to time through open market purchases or negotiated transactions, depending upon market conditions. No repurchases were made during the years ended December 31, 2010 or 2009. During the year ended December 31, 2008, the Company repurchased 10,915,633 shares for a net cost of $940.1 million. As of December 31, 2010, the Company had repurchased 12,804,954 shares of the Company's common stock through open market purchases for a net cost of $1.1 billion, at an average cost of $87.42 per share. 5. Common Stock Secondary Offerings On March 20, 2009, the Company completed a secondary common stock offering of 11,040,000 shares with net proceeds of $202.3 million. On November 18, 2008, the Company completed a secondary common stock offering of 8,000,000 shares with net proceeds of $344.3 million. 6. Noncontrolling Interest In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 (27.7%) shares of this subsidiary's common stock. Net proceeds to the Company as a result of this transaction were approximately $1.8 billion. The shares of Wynn Macau, Limited were not and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent a registration under the Securities Act, or an applicable exception from such registration requirements. In connection with this transaction, the Company recorded $107.4 million of noncontrolling interest as a separate component of equity in the accompanying Condensed Balance Sheets as of December 31, 2009. Net income attributable to noncontrolling interest was $156.5 million and $18.5 million for the years ended December 31, 2010 and 2009, respectively. On November 2, 2010, the Wynn Macau, Limited Board of Directors approved a HK$0.76 per share dividend. The total dividend amount was US $508 million and the Company's share of this dividend was $367 million. A reduction of $140.7 million was made to noncontrolling interest in the accompanying Condensed Balance Sheets to reflect this dividend. |
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- Definition
This element can be used to encapsulate the entire condensed financial information disclosure, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
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Dec. 31, 2010
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| SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (In Thousands)
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- Definition
An element designated to encapsulate the entire schedule of any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Policy)
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Dec. 31, 2010
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| Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Investments in the 50%-owned joint ventures operating the Ferrari and Maserati automobile dealership and the Brioni mens' retail clothing store inside Wynn Las Vegas are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated. |
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
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| Cash and Cash Equivalents | Cash and cash equivalents are comprised of highly liquid investments with original maturities of three months or less. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents of $663.9 million and $1.4 billion at December 31, 2010 and 2009, respectively, were invested in money market funds, U.S. treasuries and time deposits. The Company utilized Level 1 inputs as described in Note 8 to determine fair value. |
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| Accounts Receivable and Credit Risk | Accounts Receivable and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino accounts receivable. The Company issues credit in the form of "markers" to approved casino customers following investigations of creditworthiness. At December 31, 2010 and 2009, approximately 82% and 76%, respectively, of the Company's markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in these countries could affect the collectability of such receivables. Accounts receivable, including casino and hotel receivables, are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company's receivables to their carrying amount, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as management's experience with collection trends in the casino industry and current economic and business conditions. |
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| Inventories | Inventories Inventories consist of retail merchandise, food and beverage items which are stated at the lower of cost or market value and certain operating supplies. Cost is determined by the first-in, first-out, average and specific identification methods. |
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| Property and Equipment | Property and Equipment Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:
Costs related to improvements are capitalized, while costs of repairs and maintenance are charged to expense as incurred. The cost and accumulated depreciation of property and equipment retired or otherwise disposed of are eliminated from the respective accounts and any resulting gain or loss is included in operations. |
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| Capitalized Interest | Capitalized Interest The interest cost associated with major development and construction projects is capitalized and included in the cost of the project. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use. When no debt is specifically identified as being incurred in connection with a construction project, the Company capitalizes interest on amounts expended on the project at the Company's weighted average cost of borrowed money. Interest of $7.2 million, $10.7 million and $87.4 million was capitalized for the years ended December 31, 2010, 2009 and 2008, respectively. |
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| Intangibles | Intangibles The Company's indefinite-lived intangible assets consist primarily of water rights acquired as part of the original purchase price of the property on which Wynn Las Vegas is located, and trademarks. Indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually. The Company's finite-lived intangible assets consist of a Macau gaming concession and show production rights. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives. |
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| Long-Lived Assets | Long-Lived Assets Long-lived assets, which are to be held and used, including intangibles and property and equipment, are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. If an indicator of impairment exists, the Company compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then impairment is measured as the difference between fair value and carrying value, with fair value typically based on a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. |
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| Deferred Financing Costs | Deferred Financing Costs Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expense over the terms of the related debt agreements. Approximately $13.2 million, $15.4 million and $17.8 million were amortized to interest expense during the years ended December 31, 2010, 2009 and 2008, respectively. Debt discounts incurred in connection with the issuance of debt have been capitalized and are being amortized to interest expense using the effective interest method. |
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| Derivative Financial Instruments | Derivative Financial Instruments The Company seeks to manage its market risk, including interest rate risk associated with variable rate borrowings, through balancing fixed-rate and variable-rate borrowings with the use of derivative financial instruments. The fair value of derivative financial instruments are recognized as assets or liabilities at each balance sheet date, with changes in fair value affecting net income as the Company's current interest rate swaps do not qualify for hedge accounting. Accordingly, changes in the fair value of the interest rate swaps are presented as an increase (decrease) in swap fair value in the accompanying Consolidated Statements of Income. The differentials paid or received on interest rate swap agreements are recognized as adjustments to interest expense. |
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| Revenue Recognition and Promotional Allowances | Revenue Recognition and Promotional Allowances The Company recognizes revenues at the time persuasive evidence of an arrangement exists, the service is provided or the retail goods are sold, prices are fixed or determinable and collection is reasonably assured. Casino revenues are measured by the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers' possession. Hotel, food and beverage, entertainment and other operating revenues are recognized when services are performed. Entertainment, retail and other revenue includes rental income which is recognized on a time proportion basis over the lease terms. Contingent rental income is recognized when the right to receive such rental income is established according to the lease agreements. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer. Revenues are recognized net of certain sales incentives which are required to be recorded as a reduction of revenue; consequently, the Company's casino revenues are reduced by discounts, commissions and points earned in the player's club loyalty program.
The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues. Such amounts are then deducted as promotional allowances. These amounts have increased with the opening of Encore at Wynn Las Vegas in December 2008 and the opening of Encore at Wynn Macau in April 2010. The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (amounts in thousands):
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| Self-Insurance Reserves | Self-Insurance Reserves The Company is self-insured up to certain limits for costs of employee health coverage, workers' compensation and general liability claims. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of estimates for claims incurred but not yet reported. In estimating these accruals, the Company considers historical loss experience and makes judgments about the expected level of costs per claim. Management believes the estimates of future liability are reasonable based upon its methodology; however, changes in health care costs, accident frequency and severity could materially affect the estimate for these liabilities. |
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| Customer Loyalty Program | Customer Loyalty Program The Company's customer loyalty program relates to a slot club program whereby customers may earn points based on their level of play that may be redeemed for free credit that must be replayed in the slot machine. The Company accrues a liability based on the points earned times the redemption value, less an estimate for breakage, and records a related reduction in casino revenue. |
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| Slot Machine Jackpots | Slot Machine Jackpots With respect to base and progressive jackpots, the Company does not accrue a liability in jurisdictions in which it has the ability to avoid payment of the base jackpot because the machine can legally be removed from the gaming floor without payment of the base amount. Conversely, if the Company is unable to avoid payment of the jackpot (i.e. the incremental amount on a progressive machine) due to legal requirements, the jackpot is accrued as the obligation becomes unavoidable. This liability is accrued over the time period in which the incremental progressive jackpot amount is generated with a related reduction in casino revenue. No liability is accrued with respect to the base jackpot. |
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| Gaming taxes | Gaming taxes The Company is subject to taxes based on gross gaming revenue in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are an assessment on the Company's gaming revenue and are recorded as an expense within the "Casino" line item in the accompanying Consolidated Statements of Income. These taxes totaled $1,412.8 million, $892.2 million and $919.2 million for the years ended December 31, 2010, 2009 and 2008, respectively. |
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| Advertising Costs | Advertising Costs The Company expenses advertising costs the first time the advertising takes place. Advertising costs incurred in development periods are included in pre-opening costs. Once a project is completed, advertising costs are included in general and administrative expenses. Total advertising costs were $19 million, $20.4 million and $31.2 million, including $11.1 million in 2008 for pre-opening related to Encore at Wynn Las Vegas, for the years ended December 31, 2010, 2009 and 2008, respectively. |
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| Pre-Opening Costs | Pre-Opening Costs Pre-opening costs consists primarily of direct salaries and wages, legal and consulting fees, insurance, utilities and advertising, and are expensed as incurred. During the year ended December 31, 2010, the Company incurred pre-opening costs in connection with the Encore Beach Club and Surrender Nightclub which opened in May 2010, and Encore at Wynn Macau prior to its opening in April 2010. During the year ended December 31, 2009, the Company incurred pre-opening costs in connection with Encore at Wynn Las Vegas prior to its opening in December 2008. |
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| Income Taxes | Income Taxes The Company is subject to income taxes in the United States and other foreign jurisdictions where it operates. Accounting standards require the recognition of deferred tax assets, net of applicable reserves, and liabilities for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied. The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. The accounting standards prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition (Step I) occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement (Step II) is only addressed if the position is deemed to be more likely than not to be sustained. Under Step II, the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Use of the term "more likely than not" is consistent with how that term is used in accounting for income taxes (i.e. likelihood of occurrence is greater than 50%). Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the "more likely than not" standard. If it is subsequently determined that a previously recognized tax position no longer meets the "more likely than not" standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. During the years ended December 31, 2010, 2009 and 2008, the Company recognized no amounts for interest or penalties. |
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| Currency Translation | Currency Translation Gains or losses from foreign currency remeasurements are included in other income/expense in the accompanying Consolidated Statements of Income. The results of operations and the balance sheet of Wynn Macau, S.A. are translated from Macau Patacas to U.S. dollars. Balance sheet accounts are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive income. |
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| Comprehensive Income | Comprehensive Income Comprehensive income includes net income and all other non-stockholder changes in equity, or other comprehensive income. Components of the Company's comprehensive income are reported in the accompanying Consolidated Statements of Stockholders' Equity. The cumulative balance of other comprehensive income consists solely of currency translation adjustments. |
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| Earnings Per Share | Earnings Per Share Basic earnings per share ("EPS') is computed by dividing net income attributable to Wynn Resorts by the weighted average number of shares outstanding during the year. Diluted EPS reflects the addition of potentially dilutive securities which for the Company include: stock options and nonvested stock. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS for the years ended December 31, 2010, 2009 and 2008, consisted of the following (amounts in thousands):
A total of 1,078,000, 4,899,918 and 880,000 stock options were excluded from the calculation of diluted EPS at December 31, 2010, 2009 and 2008, respectively, because including them would have been anti-dilutive. |
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| Stock-Based Compensation | Stock-Based Compensation Accounting standards require the Company to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognize that cost over the service period. The Company uses the Black-Scholes valuation model to determine the estimated fair value for each option grant issued. The Black-Scholes determined fair value net of estimated forfeitures is amortized as compensation cost on a straight line basis over the service period. Further information on the Company's stock-based compensation arrangements is included in Note 14 "Benefit Plans—Stock-Based Compensation". |
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| Reclassifications | Reclassifications Certain amounts in the consolidated financial statements for 2009 and 2008 have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on the previously reported net income. |
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Describes an entity's accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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A description of a company's cash and cash equivalents accounting policy. An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. For a bank, may include explanation and amount of requirement to maintain reserves against deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes the entity's accounting policies for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to its employees, including share-based arrangements; describes its methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discloses the methodology and assumptions used to compute basic and diluted earnings (loss) per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lower of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this description includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accounts Receivable And Credit Risk Policy [Text Block] No definition available.
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Gaming Taxes Policy [Text Block] No definition available.
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Revenue Recognition And Promotional Allowances Policy [Text Block] No definition available.
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Self Insurance Reserves Policy [Text Block] No definition available.
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Slot Machine Jackpots Policy [Text Block] No definition available.
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Use Of Estimates Policy [Text Block] No definition available.
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Summary of Significant Accounting Policies (Tables)
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Dec. 31, 2010
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Disclosure itemizing the various types of trade accounts and notes receivable, and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Dec. 31, 2010
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Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Schedule of deposits and other assets |
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- Definition
Schedule of deposits and other assets text block No definition available.
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Long-Term Debt (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Summary of long-term debt |
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| Scheduled maturities of long-term debt |
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| X | ||||||||||
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- Definition
This element may be used to capture the complete disclosure pertaining to long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Scheduled maturities of long-term debt No definition available.
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Interest Rate Swaps (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Interest rate swap liabilities included in other long-term liabilities |
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| X | ||||||||||
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- Definition
Schedule Of Interest Rate Swap Liabilities Included In Other Long Term Liabilities [Text Block] No definition available.
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Property Charges and Other (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Components of property charges and other |
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- Definition
Schedule Of Components Of Property Charges And Other [Text Block] No definition available.
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Benefit Plans (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Summary of option activity under the WRL stock plan |
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| Summary of stock options of WRL stock plan |
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| Summary of WRL Stock Plan nonvested share |
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| Summary of nonvested stock of WRL stock plan |
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| Summary of total compensation cost for WRL and WML stock plan |
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WRL Stock Plan [Member]
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| Summary of fair value per option estimated on date of grant |
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WML Stock Plan [Member]
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| Summary of fair value per option estimated on date of grant |
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| X | ||||||||||
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- Definition
All required disclosures by grouped ranges of option exercise prices, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Summary Of Fair Value Per Option Estimated On Date Of Grant [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Summary Of Nonvested Stock Of WRL Stock Plan Text Block No definition available.
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| X | ||||||||||
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- Definition
Summary of stock options of WRL stock plan text block No definition available.
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| X | ||||||||||
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- Definition
Summary Of Total Compensation Cost For WRL And WML Stock Plan Text Block No definition available.
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- Definition
Summary Of WRL Stock Plan Nonvested Share Text Block No definition available.
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Income Taxes (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Summary of consolidated income loss before taxes for domestic and foreign |
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| Summary of benefit (Provision) for income taxes |
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| Summary of net deferred tax assets and liabilities |
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| Federal statutory corporate tax rate |
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| Reconciliation of unrecognized tax benefits |
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| X | ||||||||||
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- Definition
A summary of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Summary Of Benefit (Provision) For Income Taxes [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Summary Of Consolidated Income Loss Before Taxes For Domestic And Foreign No definition available.
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| X | ||||||||||
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- Definition
Summary Of Net Deferred Tax Assets And Liabilities [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Summery Of Federal Statutory Corporate Tax Rate Text Block No definition available.
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Commitments and Contingencies (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Future minimum rental receivable under operating lease |
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| Future minimum rental payable under non-cancelable operating lease |
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| X | ||||||||||
|
- Definition
General description of lessee's leasing arrangements including: (1) The basis on which contingent rental payments are determined, (2) The existence and terms of renewal or purchase options and escalation clauses, (3) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) Rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Provide a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2010
|
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| Summary of assets and capital expenditures by segment |
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| Summary of operations by segment |
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- Definition
Summary Of Assets And Capital Expenditures By Segment [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Summary Of Operations by Segment [Text Block] No definition available.
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Quarterly Financial Information (Unaudited) (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Schedule of quarterly financial data |
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| X | ||||||||||
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- Definition
Schedule of quarterly financial data text block No definition available.
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WYNN RESORTS, LIMITED (Parent Company Only) (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Condensed balance sheets |
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| Condensed statements of income |
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| Condensed statements of cash flows |
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| X | ||||||||||
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- Definition
Schedule Of Condensed Balance Sheets [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Schedule Of Condensed Statements Of Cash Flows [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Schedule Of Condensed Statements Of Income [Text Block] No definition available.
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|
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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| Schedule of valuation allowances and reserves |
|
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| X | ||||||||||
|
- Definition
Schedule of valuation allowances and reserves No definition available.
|
|
Organization (Narrative) (Details)
|
1 Months Ended | |
|---|---|---|
|
Oct. 31, 2009
|
Oct. 31, 2009
|
|
| Common stock of subsidiary sold | 1,437,500,000 | |
| Percentage of subsidiary's common stock sold | 27.70% | |
|
Parent Company [Member]
|
||
| Common stock of subsidiary sold | 1,437,500,000 | 1,437,500,000 |
| X | ||||||||||
|
- Definition
The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage Of Subsidiary's Common Stock Sold No definition available.
|
|
Summary of Significant Accounting Policies (Narrative) (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Percentage of ownership in joint ventures | 50.00% | ||
| Cash and cash equivalents | $ 663.9 | $ 1,400.0 | |
| Percentage of credit markers due from customers residing outside of the United States | 82.00% | 76.00% | |
| Capitalized interest | 7.2 | 10.7 | 87.4 |
| Interest expense | 13.2 | 15.4 | 17.8 |
| Gaming taxes | 1,412.8 | 892.2 | 919.2 |
| Total advertising costs | 19.0 | 20.4 | 31.2 |
| Advertising expenses included in pre-opening costs | 11.1 | ||
| Interest and penalties recognized | $ 0 | $ 0 | $ 0 |
| Stock options excluded from calculation of diluted EPS | 1,078,000 | 4,899,918 | 880,000 |
| X | ||||||||||
|
- Definition
Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash equivalents may be reported as cash equivalents, while legally restricted equivalents held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular equivalents should not be reported as part of unrestricted cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of interest that was capitalized during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the total of interest expense recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties in the period in which the entity claims or expects to claim a tax position, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gaming Taxes No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of credit markers due from customers residing outside of the United States No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of ownership in joint ventures No definition available.
|
| X | ||||||||||
|
- Definition
Pre-opening costs included in advertising expense No definition available.
|
|
Summary of Significant Accounting Policies (Schedule of estimated useful lives of assets) (Details)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2010
|
|
|
Land Improvements [Member]
|
|
| Property and equipment estimated useful life, minimum, years | 10 |
| Property and equipment estimated useful life, maximum, years | 45 |
|
Leasehold Interest in Land [Member]
|
|
| Property and equipment estimated useful life, average, years | 25 |
|
Airplanes [Member]
|
|
| Property and equipment estimated useful life, minimum, years | 7 |
| Property and equipment estimated useful life, maximum, years | 20 |
|
Furniture, Fixtures and Equipment [Member]
|
|
| Property and equipment estimated useful life, minimum, years | 3 |
| Property and equipment estimated useful life, maximum, years | 20 |
|
Buildings and Improvements [Member]
|
|
| Property and equipment estimated useful life, minimum, years | 10 |
| Property and equipment estimated useful life, maximum, years | 45 |
| X | ||||||||||
|
- Definition
The average useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment. No definition available.
|
|
Summary of Significant Accounting Policies (Summary of estimated cost of promotional allowance) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Promotional allowances primarily included in casino expenses | $ 167,328 | $ 152,910 | $ 126,469 |
|
Rooms [Member]
|
|||
| Promotional allowances primarily included in casino expenses | 52,017 | 53,325 | 36,155 |
|
Food and beverage [Member]
|
|||
| Promotional allowances primarily included in casino expenses | 94,220 | 86,798 | 79,828 |
|
Entertainment, retail and other [Member]
|
|||
| Promotional allowances primarily included in casino expenses | $ 21,091 | $ 12,787 | $ 10,486 |
| X | ||||||||||
|
- Definition
Promotional allowances included in casino expense No definition available.
|
|
Summary of Significant Accounting Policies (Schedule of shares used in calculation of earnings per share) (Details)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Notes to Financial Statements | |||
| Weighted average common shares outstanding (used in calculation of basic earnings per share) | 122,787,000 | 119,840,000 | 108,408,000 |
| Potential dilution from the assumed exercise of stock options and nonvested stock | 1,152,000 | 345,000 | 1,033,000 |
| Weighted Average Number of Shares Outstanding, Diluted, Total | 123,939,000 | 120,185,000 | 109,441,000 |
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares used in the calculation of the diluted per-share computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Receivables, net (Summary of receivables, net) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
|---|---|---|
| Gross receivables | $ 301,555 | $ 254,960 |
| Less: allowance for doubtful accounts | 114,091 | 102,081 |
| Net receivables | 187,464 | 152,879 |
|
Casino [Member]
|
||
| Gross receivables | 257,951 | 205,330 |
|
Hotel [Member]
|
||
| Gross receivables | 17,851 | 18,177 |
|
Other [Member]
|
||
| Gross receivables | $ 25,753 | $ 31,453 |
| X | ||||||||||
|
- Definition
For unclassified balance sheet, amounts due from customers or clients for goods or services that have been delivered or sold in the normal course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Property and Equipment, net (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Depreciation expense | $ 391.7 | $ 395.2 | $ 247.6 |
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Property and Equipment, net (Schedule of property and equipment, net) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
|---|---|---|
| Land and improvements | $ 731,810 | $ 704,733 |
| Buildings and improvements | 3,735,633 | 3,215,400 |
| Airplanes | 77,421 | 77,326 |
| Furniture. fixtures and equipment | 1,647,424 | 1,585,495 |
| Leasehold interest in land | 85,545 | 81,521 |
| Construction in progress | 22,901 | 457,594 |
| Property and equipment, gross | 6,300,734 | 6,122,069 |
| Less: accumulated depreciation | 1,379,475 | 1,060,010 |
| Property and equipment, net | $ 4,921,259 | $ 5,062,059 |
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of long-lived, depreciable assets that include building structures held for productive use including any addition, improvement, or renovation to the structure, such as interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date of long-lived asset under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date for long-lived, depreciable asset commonly used in offices and stores. Examples include desks, chairs, and store fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date for long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, physical structures, machinery, vehicles, furniture, computer equipment, construction in progress, and similar items. Amount does not include depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Airplanes, gross No definition available.
|
| X | ||||||||||
|
- Definition
Land and improvements, gross No definition available.
|
| X | ||||||||||
|
- Definition
Leasehold interest in land, gross No definition available.
|
|
Intangibles, net (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2010
|
|
| Intangible assets, useful life, years | 20 |
|
Macau Gaming Concession [Member]
|
|
| Future amortization expense, year one | $ 2.4 |
| Future amortization expense, year two | 2.4 |
| Future amortization expense, year three | 2.4 |
| Future amortization expense, year four | 2.4 |
| Future amortization expense, year five | 2.4 |
| Future amortization expense, year six | 2.4 |
| Future amortization expense, year seven | 2.4 |
| Future amortization expense, year eight | 2.4 |
| Future amortization expense, year nine | 2.4 |
| Future amortization expense, year ten | 2.4 |
| Future amortization expense, year eleven | 2.4 |
| Future amortization expense, year twelve | 1.0 |
|
Show Production Rights [Member]
|
|
| Future amortization expense, year one | 2.1 |
| Future amortization expense, year two | 2.1 |
| Future amortization expense, year three | $ 0.8 |
| X | ||||||||||
|
- Definition
The useful life of all finite-lived intangible assets. This may be stated as a fixed number (for example, 10 years) if all assets have the same useful life, or it can be stated in a range (for example, six to eight years) if there is a range of useful lives in the asset group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during the fifth twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during the fourth twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during the twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during the third twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during the second twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future amortization expense, year eight No definition available.
|
| X | ||||||||||
|
- Definition
Future amortization expense, year eleven No definition available.
|
| X | ||||||||||
|
- Definition
Future amortization expense, year nine No definition available.
|
| X | ||||||||||
|
- Definition
Future amortization expense, year seven No definition available.
|
| X | ||||||||||
|
- Definition
Future amortization expense, year six No definition available.
|
| X | ||||||||||
|
- Definition
Future amortization expense, year ten No definition available.
|
| X | ||||||||||
|
- Definition
Future amortization expense, year twelve No definition available.
|
|
Intangibles, net (Schedule of intangible assets, net) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2009
|
Dec. 31, 2010
|
Dec. 31, 2010
Macau Gaming Concession [Member]
|
Dec. 31, 2009
Macau Gaming Concession [Member]
|
Dec. 31, 2008
Macau Gaming Concession [Member]
|
Dec. 31, 2010
Show Production [Member]
|
Dec. 31, 2009
Show Production [Member]
|
Dec. 31, 2008
Show Production [Member]
|
Dec. 31, 2010
Water Rights [Member]
|
Dec. 31, 2009
Water Rights [Member]
|
Dec. 31, 2008
Water Rights [Member]
|
Dec. 31, 2009
Trademarks [Member]
|
Dec. 31, 2010
Trademarks [Member]
|
|
| Finite-lived intangible assets, net, beginning balance | $ 27,401 | $ 29,784 | $ 32,168 | $ 5,005 | $ 7,076 | $ 9,147 | |||||||
| Finite-lived intangible assets, amortization | 4,455 | 4,454 | 2,383 | 2,384 | 2,071 | 2,071 | |||||||
| Finite-lived intangible assets, net, ending balance | 27,401 | 29,784 | 32,168 | 5,005 | 7,076 | 9,147 | |||||||
| Indefinite-lived intangible assets, beginning balance | 6,400 | 6,400 | 6,400 | 1,334 | 1,399 | ||||||||
| Indefinite-lived intangible assets acquired during period | 65 | 65 | |||||||||||
| Indefinite-lived intangible assets, ending balance | 6,400 | 6,400 | 6,400 | 1,399 | 1,399 | ||||||||
| Intangibles, net, beginning balance | 49,049 | 40,205 | |||||||||||
| Intangibles, net, ending balance | $ 44,659 | $ 40,205 | |||||||||||
| X | ||||||||||
|
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of intangible assets, excluding goodwill, which have a projected indefinite period of benefit (hence are not amortized), allocated to the reportable segment. These assets, acquired either individually or as part of a group of assets, in either an asset acquisition or business combination, are assessed at least annually for impairment. Examples may include trade secrets, contractual rights, trade names, and licensing agreements. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of indefinite-lived intangible assets acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Deposits and Other Assets (Schedule of deposits and other assets) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
|---|---|---|
| Entertainment production costs | $ 6,849 | $ 11,826 |
| Base stock | 26,289 | 25,549 |
| Deposits and other | 52,664 | 62,005 |
| Deposits and other assets | $ 85,802 | $ 99,380 |
| X | ||||||||||
|
- Definition
Deposits and other assets base stock No definition available.
|
| X | ||||||||||
|
- Definition
Deposits and other assets entertainment production costs No definition available.
|
| X | ||||||||||
|
- Definition
Deposits and other assets noncurrent. No definition available.
|
| X | ||||||||||
|
- Definition
Deposits and other assets other No definition available.
|
|
Long-Term Debt (Summary of long-term debt) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Aug. 04, 2010
|
Dec. 31, 2009
|
|
| Long-term debt total | $ 3,267,529 | $ 3,569,103 | |
| Current portion of long-term debt | (2,675) | (2,675) | |
| Non current portion of long-term debt | 3,264,854 | 3,566,428 | |
|
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
|||
| Debt instrument, interest rate | 6.625% | ||
| Long term debt due date | Dec. 01, 2014 | ||
| Original issue discount | 18,400 | 6,852 | |
| Long-term debt total | 1,627,378 | ||
|
7 7/8% Wynn Las Vegas First Mortgage Notes, due November 1, 2017 [Member]
|
|||
| Debt instrument, interest rate | 7.875% | ||
| Long term debt due date | Nov. 01, 2017 | ||
| Original issue discount | 9,679 | 10,529 | |
| Long-term debt total | 490,321 | 489,471 | |
|
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020 [Member]
|
|||
| Debt instrument, interest rate | 7.875% | ||
| Long term debt due date | May 01, 2020 | ||
| Original issue discount | 1,933 | ||
| Long-term debt total | 350,077 | ||
|
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
|||
| Debt instrument, interest rate | 7.75% | ||
| Long term debt due date | Aug. 15, 2020 | ||
| Long-term debt total | 1,320,000 | ||
|
Wynn Las Vegas Revolving Credit Facility, due July 15, 2013 [Member]
|
|||
| Interest in addition to LIBOR | 3.00% | ||
| Long term debt due date | Jul. 15, 2013 | ||
| Long-term debt total | 3,868 | 252,717 | |
|
Wynn Las Vegas Revolving Credit Facility, due July 17, 2015 [Member]
|
|||
| Interest in addition to LIBOR | 3.00% | ||
| Long term debt due date | Jul. 17, 2015 | ||
| Long-term debt total | 16,187 | ||
|
Wynn Las Vegas Term Loan Facility, due August 15, 2013 [Member]
|
|||
| Interest in addition to LIBOR | 1.875% | ||
| Long term debt due date | Aug. 15, 2013 | ||
| Long-term debt total | 44,281 | 80,446 | |
|
Wynn Las Vegas Term Loan Facility, due August 17, 2015 [Member]
|
|||
| Interest in addition to LIBOR | 3.00% | ||
| Long term debt due date | Aug. 17, 2015 | ||
| Long-term debt total | 330,605 | ||
|
Wynn Macau Senior Term Loan Facilities (as amended June 2007), due June 27, 2014 [Member]
|
|||
| Interest in addition to LIBOR or HIBOR | 1.25% | 1.75% | |
| Long term debt due date | Jun. 27, 2014 | ||
| Long-term debt total | 550,900 | 552,292 | |
|
Wynn Macau Senior Revolving Credit Facility, due June 2012 [Member]
|
|||
| Interest in addition to LIBOR or HIBOR | 1.25% | 1.75% | |
| Long term debt due date | Jun. 30, 2012 | ||
| Long-term debt total | 100,165 | 502,108 | |
|
$42 million Note Payable, due April 1, 2017 [Member]
|
|||
| Interest in addition to LIBOR | 1.25% | ||
| Long term debt due date | Apr. 01, 2017 | ||
| Long-term debt total | 36,750 | 38,150 | |
|
$32.5 million Note Payable, due August 10, 2012 [Member]
|
|||
| Interest in addition to LIBOR | 1.15% | ||
| Long term debt due date | Aug. 10, 2012 | ||
| Long-term debt total | $ 24,375 | $ 26,541 |
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (year, month and year, day, month and year, quarter, etc.). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt instrument interest in addition to LIBOR No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument interest in addition to LIBOR or HIBOR No definition available.
|
|
Long-Term Debt (6 5/8% Wynn Las Vegas first mortgage notes) (Details) (USD $)
In Millions, unless otherwise specified |
10 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Nov. 06, 2007
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Dec. 31, 2010
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Aug. 04, 2010
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Dec. 31, 2010
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
Aug. 04, 2010
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
Dec. 31, 2010
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020 [Member]
|
Mar. 26, 2010
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020 [Member]
|
|
| Debt instrument principal amount | $ 1,300.0 | $ 1,320.0 | |||||
| Aggregate principal amount of debt instrument issued under private offering | $ 400 | ||||||
| Debt issued at discount, price as percentage of principal | 97.25% | ||||||
| Debt instrument redeemable price as percentage of principal amount | 103.313% | ||||||
| Debt redemption price as percentage of principal | 103.875% | 103.938% | |||||
| Debt instrument, interest rate | 6.625% | 7.75% | 7.875% |
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt Instrument Face Amount From Private Offering No definition available.
|
| X | ||||||||||
|
- Definition
Debt issued at discount, price as percentage of principal No definition available.
|
| X | ||||||||||
|
- Definition
Debt redemption price as percentage of principal No definition available.
|
| X | ||||||||||
|
- Definition
Redeemable Debt Instrument As Percentage Of Principal Amount No definition available.
|
|
Long-Term Debt (7 7/8% and 7 3/4% Wynn Las Vegas first mortgage notes) (Details) (USD $)
|
12 Months Ended | 12 Months Ended | 0 Months Ended | 7 Months Ended | 10 Months Ended | 1 Months Ended | 0 Months Ended | 4 Months Ended | 3 Months Ended | 7 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Apr. 28, 2010
|
Dec. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
Aug. 04, 2010
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Aug. 04, 2010
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Aug. 04, 2010
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Nov. 06, 2007
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Dec. 31, 2010
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Dec. 31, 2009
6 5/8% Wynn Las Vegas First Mortgage Notes, due December 1, 2014 [Member]
|
Oct. 31, 2009
7 7/8% Wynn Las Vegas First Mortgage Notes, due November 1, 2017 [Member]
|
Dec. 31, 2010
7 7/8% Wynn Las Vegas First Mortgage Notes, due November 1, 2017 [Member]
|
Dec. 31, 2009
7 7/8% Wynn Las Vegas First Mortgage Notes, due November 1, 2017 [Member]
|
Mar. 26, 2010
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020 [Member]
|
Apr. 28, 2010
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020 [Member]
|
Dec. 31, 2010
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020 [Member]
|
Mar. 31, 2010
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
Aug. 04, 2010
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
Dec. 31, 2010
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
Dec. 31, 2009
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020 [Member]
|
|
| Aggregate principal amount of debt instrument issued under private offering | $ 400,000,000 | $ 500,000,000 | ||||||||||||||||||||
| Debt issued at discount, price as percentage of principal | 97.25% | 97.823% | ||||||||||||||||||||
| Debt redemption price as percentage of principal | 103.938% | 103.938% | 103.875% | |||||||||||||||||||
| Proceeds from issuance of debt instrument | 951,300,000 | 480,000,000 | 32,700,000 | |||||||||||||||||||
| Aggregate principal amount of conditional offer | 250,000,000 | |||||||||||||||||||||
| Debt instrument principal amount | 1,300,000,000 | 1,300,000,000 | 1,300,000,000 | 1,320,000,000 | ||||||||||||||||||
| Debt instrument, interest rate | 6.625% | 7.875% | 7.875% | 7.75% | ||||||||||||||||||
| Carrying value of debt instrument tendered for exchange | 352,000,000 | 35,800,000 | ||||||||||||||||||||
| Debt instrument amount exchanged | 30,000,000 | |||||||||||||||||||||
| Tendered cash percentage | 1.00% | |||||||||||||||||||||
| Tender in cash | 3,500,000 | |||||||||||||||||||||
| Direct cost of exchange offer incurred | 4,600,000 | |||||||||||||||||||||
| Parent company capital contribution | 50,000,000 | |||||||||||||||||||||
| Proceeds from issuance of long-term debt per $1000 of principal amount | 1,004.38 | |||||||||||||||||||||
| Principal rate for consent payment | 1,000 | |||||||||||||||||||||
| Consent payment per $1000 of principal amount | 30 | |||||||||||||||||||||
| Redemption fees | (67,990,000) | 18,734,000 | 22,347,000 | 22,512,000 | 22,347,000 | 10,900,000 | ||||||||||||||||
| Debt instrument unamortized discount | 18,400,000 | 18,400,000 | 18,400,000 | 6,852,000 | 9,679,000 | 10,529,000 | 1,933,000 | |||||||||||||||
| Repayment of original debt at discount | 65,800,000 | |||||||||||||||||||||
| Write-off of unamortized debt discount and debt issue costs | 13,700,000 | |||||||||||||||||||||
| Uncontributed amount of debt instrument | $ 30,000,000 | |||||||||||||||||||||
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with security instrument that either represents a creditor or an ownership relationship with the holder of the investment security with a maturity of beyond one year or normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Consent payment per thousand dollars of principal amount No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument amount exchanged No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Face Amount From Private Offering No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Face Amount Tendered For Exchange No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate principal amount of conditional offer No definition available.
|
| X | ||||||||||
|
- Definition
Debt issued at discount, price as percentage of principal No definition available.
|
| X | ||||||||||
|
- Definition
Debt redemption price as percentage of principal No definition available.
|
| X | ||||||||||
|
- Definition
Direct Cost Of Exchange Offer Incurred No definition available.
|
| X | ||||||||||
|
- Definition
Parent company capital contribution No definition available.
|
| X | ||||||||||
|
- Definition
Principle rate for consent payment No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from issuance of long-term debt per thousand dollars of principal amount No definition available.
|
| X | ||||||||||
|
- Definition
Repayment Of Original Debt At Discount No definition available.
|
| X | ||||||||||
|
- Definition
Tendered Cash Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Tender in cash No definition available.
|
| X | ||||||||||
|
- Definition
Uncontributed amount of debt instrument No definition available.
|
|
Long-Term Debt (Wynn Las Vegas credit facilities) (Details) (USD $)
In Millions, unless otherwise specified |
48 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2010
|
Aug. 04, 2010
|
Dec. 31, 2010
Wynn Las Vegas Revolving Credit Facility, due July 15, 2013 [Member]
|
Dec. 31, 2010
Wynn Las Vegas Revolving Credit Facility, due July 17, 2015 [Member]
|
Dec. 31, 2010
Wynn Las Vegas Term Loan Facility, due August 15, 2013 [Member]
|
Dec. 31, 2010
Wynn Las Vegas Term Loan Facility, due August 17, 2015 [Member]
|
Sep. 30, 2010
Wynn Las Vegas Revolver [Member]
|
Dec. 31, 2010
Wynn Las Vegas Revolver [Member]
|
Dec. 31, 2010
Wynn Las Vegas Term Loan [Member]
|
Dec. 31, 2010
Wynn Resorts Holdings LLC [Member]
|
|
| Line of credit term loan | $ 248.5 | ||||||||||
| Consolidated interest coverage ratio minimum numerator | 1.00 | ||||||||||
| Consolidated interest coverage ratio minimum denominator | 1 | ||||||||||
| Outstanding credit facility amount | 108.5 | 258.4 | 44.3 | 330.6 | 19.7 | ||||||
| Available credit facility | 327.2 | ||||||||||
| Interest rate in addition to Eurodollar rate | 3.00% | 1.875% | |||||||||
| Base rate loan interest in addition to federal funds rate (basis points) | 50.00% | ||||||||||
| Borrowed amount of line of credit | $ 20.1 | ||||||||||
| Borrowing margin under line of credit facility | 2.00% | 0.875% | |||||||||
| Quarterly arrears on average unborrowed amount | 1.00% | ||||||||||
| Ownership interest | 100.00% | ||||||||||
| Consolidated interest coverage ratio numerator | 1.00 | ||||||||||
| Consolidated interest coverage ratio denominator | 1 | ||||||||||
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the VIE's voting interest owned by the registrant. In general, a VIE is a corporation, partnership, trust, or any other legal structure used for business purposes that either (a) does not have equity investors with voting rights or (b) has equity investors that do not provide sufficient financial resources for the entity to support its activities. A VIE often holds financial assets, including loans or receivables, real estate or other property. A VIE may be essentially passive or it may engage in research and development or other activities on behalf of another company. No definition available.
|
| X | ||||||||||
|
- Definition
Base rate loan interest in addition to federal funds rate No definition available.
|
| X | ||||||||||
|
- Definition
Borrowed Amount Of Line Of Credit No definition available.
|
| X | ||||||||||
|
- Definition
Borrowing Margin under Line Of Credit Facility No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated interest coverage ratio denominator No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated interest coverage ratio minimum denominator No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated interest coverage ratio minimum numerator No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated interest coverage ratio numerator No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument interest rate in addition to Eurodollar rate No definition available.
|
| X | ||||||||||
|
- Definition
Interest On Average Unused Credit Capacity No definition available.
|
|
Long-Term Debt (Wynn Macau credit facilities) (Details)
In Millions, unless otherwise specified |
12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2010
MOP
|
Sep. 30, 2011
Wynn Macau Senior Term Loan Facilities (as amended June 2007), due June 27, 2014 [Member]
|
Dec. 31, 2010
Wynn Macau Senior Term Loan Facilities (as amended June 2007), due June 27, 2014 [Member]
USD ($)
|
Dec. 31, 2009
Wynn Macau Senior Term Loan Facilities (as amended June 2007), due June 27, 2014 [Member]
USD ($)
|
Dec. 31, 2010
Wynn Macau Senior Revolving Credit Facility, due June 2012 [Member]
USD ($)
|
Dec. 31, 2010
Wynn Macau Senior Revolving Credit Facility, due June 2012 [Member]
MOP
|
Dec. 31, 2010
Wynn Macau Senior Revolving Credit Facility, due June 2012 [Member]
USD ($)
|
Dec. 31, 2009
Wynn Macau Senior Revolving Credit Facility, due June 2012 [Member]
USD ($)
|
|
| Outstanding credit facility amount | $ 550.0 | $ 100.2 | $ 100.2 | $ 1,000.0 | |||||
| Credit facility, maximum borrowing capacity | 550 | 550 | 1,000 | 1,000 | 1,000 | ||||
| Additional borrowing capacity | 50 | ||||||||
| Interest in addition to LIBOR or HIBOR | 1.25% | 1.75% | 1.25% | 1.25% | 1.25% | 1.75% | |||
| Available credit facility | 900.0 | 900.0 | |||||||
| Credit facility margin minimum | 1.25% | 1.25% | 1.25% | ||||||
| Credit facility margin maximum | 2.00% | 2.00% | 1.75% | ||||||
| Consolidated leverage ratio minimum numerator | 4.0 | ||||||||
| Consolidated leverage ratio minimum denominator | 1 | ||||||||
| Consolidated leverage ratio excess cash flow percentage | 50.00% | 50.00% | |||||||
| Leverage ratio maximum numerator | 4.00 | 4.00 | |||||||
| Leverage ratio maximum denominator | 1 | 1 | |||||||
| Interest coverage ratio minimum numerator | 2.00 | 2.00 | |||||||
| Interest coverage ratio minimum denominator | 1 | 1 | |||||||
| Payment due | 74.1 | ||||||||
| Bank guarantee carrying amount | 37 | 300 | 37 | ||||||
| Amount of time guarantee will be at fixed amount (days) | 180 | 180 | |||||||
| Maximum guarantee by Macau government | $ 0.7 | 5.2 | |||||||
| X | ||||||||||
|
- Definition
The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Increase for additional borrowings on the credit facility during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of conditions, facts and circumstances that would trigger a payment of principal or interest which was not otherwise immediately due and payable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of time guarantee will be at fixed amount No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated leverage ratio excess cash flow percentage No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated leverage ratio minimum denominator No definition available.
|
| X | ||||||||||
|
- Definition
Consolidated leverage ratio minimum numerator No definition available.
|
| X | ||||||||||
|
- Definition
Credit Facility Margin Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Credit Facility Margin Minimum No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument interest in addition to LIBOR or HIBOR No definition available.
|
| X | ||||||||||
|
- Definition
Interest coverage ratio minimum denominator No definition available.
|
| X | ||||||||||
|
- Definition
Interest coverage ratio minimum numerator No definition available.
|
| X | ||||||||||
|
- Definition
Leverage ratio maximum denominator No definition available.
|
| X | ||||||||||
|
- Definition
Leverage ratio maximum numerator No definition available.
|
| X | ||||||||||
|
- Definition
Maximum guarantee by Macau government No definition available.
|
|
Long-Term Debt ($42 million note payable for aircraft) (Details) (USD $)
|
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
Apr. 01, 2017
$42 million Note Payable, due April 1, 2017 [Member]
|
Dec. 31, 2010
$42 million Note Payable, due April 1, 2017 [Member]
|
Mar. 30, 2007
$42 million Note Payable, due April 1, 2017 [Member]
|
|
| Debt instrument principal amount | $ 42,000,000 | |||||||
| Quarterly principal payment | 2,551,561,000 | 1,799,040,000 | 600,260,000 | 364,688,000 | 596,094,000 | 350,000 | ||
| Balloon payment due at maturity | $ 28,000,000 | |||||||
| Period interest is calculated over (days) | 90 | |||||||
| Number of basis points of interest paid in addition to LIBOR | 125 | |||||||
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt instruments amount of balloon payment due at maturity No definition available.
|
| X | ||||||||||
|
- Definition
Number of basis points of interest paid in addition to LIBOR No definition available.
|
| X | ||||||||||
|
- Definition
Period interest is calculated over No definition available.
|
|
Long-Term Debt ($32.5 million note payable for aircraft) (Details) (USD $)
|
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
Aug. 10, 2012
$32.5 million Note Payable, due August 10, 2012 [Member]
|
Dec. 31, 2010
$32.5 million Note Payable, due August 10, 2012 [Member]
|
May 10, 2007
$32.5 million Note Payable, due August 10, 2012 [Member]
|
|
| Debt instrument principal amount | $ 32,500,000 | |||||||
| Quarterly principal payment | 2,551,561,000 | 1,799,040,000 | 600,260,000 | 364,688,000 | 596,094,000 | 542,000 | ||
| Balloon payment due at maturity | $ 21,100,000 | |||||||
| Number of basis points of interest paid in addition to LIBOR | 115 | |||||||
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt instruments amount of balloon payment due at maturity No definition available.
|
| X | ||||||||||
|
- Definition
Number of basis points of interest paid in addition to LIBOR No definition available.
|
|
Long-Term Debt (Fair value of long-term debt) (Details) (USD $)
In Billions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Debt instrument net book value | $ 2.2 | $ 2.1 |
| Fair value of debt instrument | 2.3 | 2.1 |
| Other debt instruments net book value | 1.1 | 1.5 |
| Other debt instruments fair value | $ 1.1 | $ 1.3 |
| X | ||||||||||
|
- Definition
Estimated fair value of the debt instrument at the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net book value of 2014 notes, 2017 notes, 2020 notes and the new 2020 notes No definition available.
|
| X | ||||||||||
|
- Definition
Other debt instruments fair value No definition available.
|
| X | ||||||||||
|
- Definition
Other debt instruments net book value No definition available.
|
|
Long-Term Debt (Scheduled maturities of long-term debt) (Details) (USD $)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2010
|
|
| Accretion of debt discount | $ 11,600,000 |
| 2011 | 2,675,000 |
| 2012 | 344,140,000 |
| 2013 | 192,766,000 |
| 2014 | 189,258,000 |
| 2015 | 348,192,000 |
| Thereafter | 2,202,110,000 |
| Total | $ 3,279,141,000 |
| X | ||||||||||
|
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accretion Of Debt Discount No definition available.
|
| X | ||||||||||
|
- Definition
Total long term debt including accretion of debt discounts No definition available.
|
|
Interest Rate Swaps (Narrative) (Details)
|
12 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2009
USD ($)
|
Dec. 31, 2010
Parent Company [Member]
USD ($)
|
Dec. 31, 2009
Parent Company [Member]
USD ($)
|
Dec. 31, 2010
Interest Rate Swaps [Member]
USD ($)
|
Dec. 31, 2010
Wynn Las Vegas Swap [Member]
|
Nov. 27, 2009
Wynn Las Vegas Swap [Member]
USD ($)
|
Dec. 31, 2010
Wynn Macau Swap [Member]
USD ($)
|
Dec. 31, 2010
Wynn Macau Swap [Member]
HKD
|
Dec. 31, 2010
Wynn Macau Revolver [Member]
USD ($)
|
Dec. 31, 2010
Wynn Macau Revolver [Member]
HKD
|
Nov. 27, 2009
Wynn Macau Revolver [Member]
|
Dec. 31, 2010
HK [Member]
Wynn Macau Swap [Member]
USD ($)
|
|
| Other accrued expenses | $ 33,374,000 | $ 26,751,000 | $ 1,279,000 | $ 1,515,000 | $ 5,900,000 | ||||||||
| Other Liabilities, Noncurrent, Total | 64,248,000 | 120,726,000 | 9,742,000 | 7,345,000 | 15,600,000 | ||||||||
| Interest rate swap fixed interest rate | 2.485% | 3.632% | 3.632% | 2.15% | 3.39% | ||||||||
| Borrowings under interest rate swap agreement | 250,000,000 | ||||||||||||
| Interest rate swap carrying amount | $ 153,800,000 | 991,600,000 | $ 300,000,000 | 2,300,000,000 | $ 127,900,000 | ||||||||
| Interest rate swap interest rate | 5.485% | 3.40% | 3.40% | 4.64% | |||||||||
| Interest rate swap interest rate, minimum | 4.88% | 4.88% | |||||||||||
| Interest rate swap interest rate, maximum | 5.38% | 5.38% | |||||||||||
| Interest rate swap maturity date | Nov. 01, 2012 | Jun. 01, 2012 | Jun. 01, 2012 | Aug. 01, 2011 | |||||||||
| X | ||||||||||
|
- Definition
Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
|
- Definition
High end of the range of fixed interest rates when a range is presented for a group of interest rate derivatives. No definition available.
|
| X | ||||||||||
|
- Definition
Low end of the range of fixed interest rates when a range is presented for a group of interest rate derivatives. No definition available.
|
| X | ||||||||||
|
- Definition
The date the derivative matures. No definition available.
|
| X | ||||||||||
|
- Definition
Fixed interest rate that will be received or paid upon exercise of the interest rate swaption contract. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Borrowings under interest rate swap agreement No definition available.
|
| X | ||||||||||
|
- Definition
Interest Rate Swap Agreement No definition available.
|
|
Interest Rate Swaps (Interest rate swap liabilities included in other long-term liabilities) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
|---|---|---|
| Interest rate swap liabilities included in other long-term liabilities, fair value | $ 21,449 | $ 20,569 |
|
Wynn Las Vegas Swap [Member]
|
||
| Interest rate swap liabilities included in other long-term liabilities, fair value | 8,457 | 4,224 |
|
Wynn Macau Swap [Member]
|
||
| Interest rate swap liabilities included in other long-term liabilities, fair value | $ 12,992 | $ 16,345 |
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Related Party Transactions (Narrative) (Details) (USD $)
|
1 Months Ended | 12 Months Ended | |
|---|---|---|---|
|
May 31, 2010
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Notice required for lease termination at Villa Suite, days | 90 | ||
| Number of percentage points used to determine discount on home purchase | 10 | ||
| Purchase of home for director | $ 5,400,000 | ||
| Consideration in event of employee agreement termination | 1.00 | ||
| Amount due to officers and directors | 286,980 | 789,095 | |
|
EW Lease [Member]
|
|||
| Annual rent payment on related party lease transaction | 350,000 | ||
|
SW Lease [Member]
|
|||
| Rental payment made on property with related party | $ 503,831 |
| X | ||||||||||
|
- Definition
Amounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenues, net of returns and allowances, realized from sales and other transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Consideration In Event Of Employee Agreement Termination No definition available.
|
| X | ||||||||||
|
- Definition
Notice required for lease termination at Villa Suite, days No definition available.
|
| X | ||||||||||
|
- Definition
Number of percentage points used to determine discount on home purchase No definition available.
|
| X | ||||||||||
|
- Definition
Purchase Of Home For Director No definition available.
|
| X | ||||||||||
|
- Definition
Rental payment made on property with related party No definition available.
|
|
Property Charges and Other (Narrative) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Total property charges and other | $ 25,219 | $ 28,458 | $ 32,584 |
|
Contract Termination [Member]
|
|||
| Total property charges and other | 14,900 | ||
|
Front Porte-Cochere Abandonment [Member]
|
|||
| Total property charges and other | 16,700 | ||
|
Aircraft Deposits Write-Off [Member]
|
|||
| Total property charges and other | 6,800 | ||
|
Miscellaneous Remodeling Charge [Member]
|
|||
| Total property charges and other | 5,000 | ||
|
Spamalot Closing Costs [Member]
|
|||
| Total property charges and other | 17,800 | ||
|
Floor Space Abandonment [Member]
|
|||
| Total property charges and other | $ 3,600 | ||
| X | ||||||||||
|
- Definition
Total Property Charges And Other No definition available.
|
|
Property Charges and Other (Components of property charges and other) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Loss on assets abandoned/retired for remodels | $ 10,270 | $ 21,696 | $ 32,584 |
| Loss on contract termination | 14,949 | 6,762 | |
| Total property charges and other | $ 25,219 | $ 28,458 | $ 32,584 |
| X | ||||||||||
|
- Definition
This element represents the income received from or payment made to a third party in connection with the termination of a contract between the parties. The termination may be due to many causes including early termination of a lease by a lessee, a breach of contract by one or the other party, a failure to perform. No definition available.
|
| X | ||||||||||
|
- Definition
Loss On Assets Abandoned Retired For Remodels No definition available.
|
| X | ||||||||||
|
- Definition
Total Property Charges And Other No definition available.
|
|
Stockholders' Equity (Narrative) (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 5 Months Ended | 11 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 11 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 06, 2007
|
Mar. 20, 2009
|
Jun. 06, 2007
|
Nov. 18, 2008
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Mar. 20, 2009
Parent Company [Member]
|
Jun. 06, 2007
Parent Company [Member]
|
Oct. 31, 2007
Parent Company [Member]
|
Nov. 18, 2008
Parent Company [Member]
|
Dec. 31, 2010
Parent Company [Member]
|
Dec. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
|
| Common stock, shares authorized | 400,000,000 | 400,000,000 | 400,000,000 | 400,000,000 | ||||||||||
| Common stock, par value | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||
| Common stock, shares outstanding | 124,599,508 | 123,293,456 | 124,599,508 | 123,293,456 | ||||||||||
| Number of votes per share of common stock | 1 | |||||||||||||
| Stock Repurchased During Period, Shares | 12,804,954 | 12,804,954 | 10,915,633 | 12,804,954 | 10,915,633 | |||||||||
| Repurchase of equity amount authorized | $ 1,200,000,000 | $ 1,200,000,000 | ||||||||||||
| Repurchase of equity additional amount authorized | 500,000,000 | 500,000,000 | ||||||||||||
| Aggregate of repurchase of equity amount authorized | 1,700,000,000 | 1,700,000,000 | ||||||||||||
| Stock repurchases, shares | 12,804,954 | 12,804,954 | 10,915,633 | 12,804,954 | 10,915,633 | |||||||||
| Stock repurchases, value | (940,130,000) | 1,100,000,000 | ||||||||||||
| Stock issued during period, shares | 8,000,000 | 11,040,000 | 8,000,000 | 11,040,000 | ||||||||||
| Proceeds from issuance of common stock | 202,100,000 | 344,300,000 | 202,145,000 | 344,250,000 | 202,300,000 | 1,800,000,000 | 344,300,000 | 209,760,000 | 344,250,000 | |||||
| Net proceeds of common stock | 1,374,000 | 1,361,000 | 1,374,000 | 1,361,000 | ||||||||||
| Preferred stock, shares authorized | 40,000,000 | 40,000,000 | 40,000,000 | 40,000,000 | ||||||||||
| Preferred stock, par value | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||
| Net cost for common stock purchased | $ 1,100,000,000 | $ 940,100,000 | ||||||||||||
| X | ||||||||||
|
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate of repurchase of equity amount authorized No definition available.
|
| X | ||||||||||
|
- Definition
Number of votes per share of common stock No definition available.
|
| X | ||||||||||
|
- Definition
Repurchase of equity additional amount authorized No definition available.
|
| X | ||||||||||
|
- Definition
Repurchase of equity amount authorized No definition available.
|
|
Cash Distributions (Narrative) (Details) (USD $)
|
5 Months Ended | 8 Months Ended | 10 Months Ended | 12 Months Ended | 0 Months Ended | ||
|---|---|---|---|---|---|---|---|
|
May 26, 2010
|
Aug. 26, 2010
|
Nov. 02, 2010
|
Nov. 06, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Nov. 02, 2010
Parent Company [Member]
|
|
| Cash dividend paid per share | $ 0.25 | $ 0.25 | |||||
| Cash dividend per share declared | $ 8 | $ 4 | |||||
| Total distribution recorded | 508,000,000 | 996,500,000 | 493,100,000 | 508,000,000 | |||
| Dividend payable to holders of nonvested stock upon vesting | 400,000 | 6,700,000 | 3,700,000 | ||||
| Distribution of cash against retained earning | $ 61,800,000 | ||||||
| X | ||||||||||
|
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of dividends declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Common stock dividend per share cash declared No definition available.
|
| X | ||||||||||
|
- Definition
Distribution Of Cash Against Retained Earning No definition available.
|
|
Noncontrolling Interest (Narrative) (Details)
|
1 Months Ended | 10 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Oct. 31, 2009
USD ($)
|
Nov. 02, 2010
USD ($)
|
Oct. 31, 2009
USD ($)
|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2009
USD ($)
|
Nov. 02, 2010
HKD
|
Oct. 31, 2009
Noncontrolling interest [Member]
USD ($)
|
|
| Common stock, shares issued | 1,437,500,000 | 1,437,500,000 | 137,404,462 | 136,098,410 | |||
| Percentage of issuance of common stock | 27.70% | 27.70% | |||||
| Proceeds from Wynn Macau, Ltd IPO | $ 1,800,000,000 | $ 1,869,653,000 | |||||
| Transaction cost | 84,000,000 | ||||||
| Noncontrolling interest | 142,637,000 | 126,025,000 | 107,400,000 | ||||
| Less: Net income attributable to non-controlling interests | 156,469,000 | 18,453,000 | |||||
| Dividend per share | $ 0.76 | 0.76 | |||||
| Total dividend | 508,000,000 | 996,500,000 | 493,100,000 | ||||
| Company share of dividend | 367,000,000 | ||||||
| Reduction in noncontrolling interest | $ 140,700,000 | ||||||
| X | ||||||||||
|
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The per share amount of a dividend declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions to noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Company Share Of Dividend No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of issuance of common stock No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance-sheet date, the aggregate unrecognized cost of share-based awards made to employees under share-based compensation plans that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of contributions made to multiemployer plans for each period for which a statement of income is presented. An employer may disclose total contributions to multiemployer plans without disaggregating the amounts attributable to pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of shares originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the share-based compensation plan. As stock options and equity instruments other than options are awarded to participants, the shares remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares already issued upon exercise of options or other share-based awards under the plan, and 2) shares reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. No definition available.
|
| X | ||||||||||
|
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance-sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Company's matching contribution percentage. No definition available.
|
| X | ||||||||||
|
- Definition
Employee Contribution Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Employee Service Share Based Compensation To Be Recognized Over Vesting Period No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of company match for initial 2% contribution by participant No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of company match for participant contributions between 2 and 4% No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of participant contribution that company will match at 100% No definition available.
|
| X | ||||||||||
|
- Definition
Range at which company will match 50% of participant contribution, maximum No definition available.
|
| X | ||||||||||
|
- Definition
Range at which company will match 50% of participant contribution, minimum. No definition available.
|
| X | ||||||||||
|
- Definition
The decrease in the number of reserved shares that could potentially be issued attributable to the exercise or conversion during the reporting period of previously issued stock options under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price at which option holders acquired shares when converting their stock options into shares under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The decrease in the number of shares that could be issued attributable to the lapse of rights to exercise previously issued stock options under the terms of the option agreements under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that lapsed during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options outstanding under the plan as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance-sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance-sheet date and expiration for all awards outstanding under the plan, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest options that are exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the number of shares for which fully vested and expected to vest stock options can be exercised under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the weighted-average exercise price (at which grantees can acquire the shares reserved for issuance) for exercisable stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average period between the balance-sheet date and expiration date for fully vested and expected to vest options that are exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average period between the balance-sheet date and expiration date for fully vested and expected to vest options outstanding, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Benefit Plan (Summary of stock options of WRL Stock Plan) (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Weighted average grant date fair value | $ 40.32 | $ 28.25 | $ 61.50 |
| Intrinsic value of stock options exercised | $ 63,095,000 | $ 8,249,000 | $ 6,100,000 |
| Net cash proceeds from the exercise of stock options | 66,186,000 | 6,347,000 | 2,782,000 |
| Tax benefits realized from the exercise of stock options and vesting of restricted stock | $ 10,480,000 | $ 49,013,000 | |
| X | ||||||||||
|
- Definition
Aggregate proceeds received by the entity during the annual period from exercises of stock options and conversion of similar instruments granted under share-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Disclosure of the aggregate tax benefit realized from the exercise of stock options and the conversion of similar instruments during the annual period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Benefit Plans (Summary of WRL Stock Plan's nonvested share) (Details) (USD $)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2010
|
|
| Nonvested shares, beginning balance | 889,000 |
| Shares granted | 50,000 |
| Shares vested | (26,000) |
| Shares canceled | (52,000) |
| Nonvested shares, ending balance | 861,000 |
| Nonvested shares, weighted average grant date fair value, beginning balance | $ 88.06 |
| Granted shares, weighted average grant date fair value | $ 107.03 |
| Vested shares, weighted average grant date fair value | $ 64.01 |
| Canceled shares weighted average grant date fair value | $ 106.96 |
| Nonvested shares, weighted average grant date fair value, ending balance | $ 88.75 |
| X | ||||||||||
|
- Definition
The number of shares under a share-based award plan other than a stock option plan that were settled during the reporting period due to a failure to satisfy vesting conditions pertaining to all option plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of the grant date of share-based award plans other than stock option plans that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of outstanding awards on nonstock option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The decrease in the number of shares potentially issuable under a share-based award plan pertaining to awards for which the grantee has gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant dates pertaining to a share-based award plan other than a stock option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Benefit Plans (Summary of nonvested stock of WRL Stock Plan) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Weighted average grant date fair value | $ 88.75 | $ 88.06 | |
|
WRL Stock Plan [Member]
|
|||
| Weighted average grant date fair value | $ 107.03 | $ 97.88 | |
| Fair value of shares vested | $ 2,833 | $ 1,685 | $ 2,487 |
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total fair value of share-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Benefit Plans (Summary of fair value per option estimated on date of grant) (Details)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
|
WRL Stock Plan [Member]
|
|||
| Expected dividend yield | 1.23% | 0.12% | |
| Expected stock price volatility | 60.90% | 54.60% | 44.10% |
| Risk-free interest rate | 3.06% | 2.70% | 3.60% |
| Expected average life of options (years) | 6.9 | 7.6 | 9.2 |
|
WML Stock Plan [Member]
|
|||
| Expected dividend yield | 0.00% | ||
| Expected stock price volatility | 40.80% | ||
| Risk-free interest rate | 2.40% | ||
| Expected average life of options (years) | 6.5 | ||
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time a share-based award is expected to be outstanding. A share-based award's expected term shall be determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. An entity is required to aggregate individual awards into relatively homogeneous groups. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage amount by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Benefit Plans (Summary of total compensation cost for WRL and WML stock plan) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Total stock-based compensation expense | $ 27,168 | $ 24,336 | $ 20,328 |
| Total stock-based compensation capitalized | 617 | 585 | 580 |
| Total stock-based compensation costs | 27,785 | 24,921 | 20,908 |
|
Parent Company [Member]
|
|||
| Total stock-based compensation expense | 10,792 | 10,937 | 6,687 |
|
Casino [Member]
|
|||
| Total stock-based compensation expense | 10,497 | 8,740 | 6,799 |
|
Rooms [Member]
|
|||
| Total stock-based compensation expense | 455 | 460 | 586 |
|
Food and beverage [Member]
|
|||
| Total stock-based compensation expense | 301 | 305 | 845 |
|
Entertainment, retail and other [Member]
|
|||
| Total stock-based compensation expense | 87 | 19 | 210 |
|
General and administrative [Member]
|
|||
| Total stock-based compensation expense | 15,828 | 14,812 | 11,634 |
|
Pre-opening [Member]
|
|||
| Total stock-based compensation expense | $ 254 | ||
| X | ||||||||||
|
- Definition
Costs and payments related to employee benefits and share-based compensation, such as pension expense and contributions, other postretirement benefits expense and payments, stock options expense, and amortization of restricted stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the compensation cost capitalized during the period arising from share-based compensation arrangements (for example, shares of stock, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes (Narrative)
|
0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Oct. 21, 2010
USD ($)
|
Sep. 06, 2006
|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2009
USD ($)
|
Dec. 31, 2008
USD ($)
|
Dec. 31, 2009
MOP
|
Dec. 31, 2010
Parent Company [Member]
USD ($)
|
Dec. 31, 2009
Parent Company [Member]
USD ($)
|
Dec. 31, 2010
U.S. [Member]
USD ($)
|
Dec. 31, 2009
U.S. [Member]
USD ($)
|
Dec. 31, 2010
Foreign [Member]
USD ($)
|
Dec. 31, 2009
Foreign [Member]
USD ($)
|
Dec. 31, 2008
Foreign [Member]
USD ($)
|
Dec. 31, 2010
Offset Prior Income Tax Expense [Member]
USD ($)
|
Dec. 31, 2009
Offset Prior Income Tax Expense [Member]
USD ($)
|
Dec. 31, 2008
Offset Prior Income Tax Expense [Member]
USD ($)
|
Dec. 31, 2010
Deferred Tax Asset [Member]
USD ($)
|
Dec. 31, 2009
Deferred Tax Asset [Member]
USD ($)
|
Dec. 31, 2008
Deferred Tax Asset [Member]
USD ($)
|
Dec. 31, 2010
Tax Credit Carryforward Expiry in 2018 [Member]
USD ($)
|
Dec. 31, 2010
Tax Credit Carryforward Expiry in 2019 [Member]
USD ($)
|
Dec. 31, 2010
Tax Credit Carryforward Expiry in 2020 [Member]
USD ($)
|
Dec. 31, 2010
Syndication Costs [Member]
USD ($)
|
Dec. 31, 2010
Wynn Macau Limited IPO [Member]
USD ($)
|
Dec. 31, 2009
Wynn Macau Limited IPO [Member]
USD ($)
|
Dec. 31, 2008
Wynn Macau [Member]
USD ($)
|
Dec. 31, 2010
Repatriated Initial Public Offering [Member]
USD ($)
|
Dec. 31, 2009
Repatriated Initial Public Offering [Member]
USD ($)
|
Dec. 31, 2010
U.S. Foreign Tax Credits [Member]
USD ($)
|
Dec. 31, 2009
U.S. Foreign Tax Credits [Member]
USD ($)
|
Dec. 31, 2008
U.S. Foreign Tax Credits [Member]
USD ($)
|
Dec. 31, 2010
Tax Settlement in 2004 [Member]
USD ($)
|
Dec. 31, 2010
Tax Settlement in 2005 [Member]
USD ($)
|
Dec. 31, 2010
Minimum [Member]
USD ($)
|
Dec. 31, 2010
Maximum [Member]
USD ($)
|
|
| Tax loss carryforward | $ 89,200,000 | $ 64,600,000 | $ 124,000,000 | ||||||||||||||||||||||||||||||||
| Tax loss carryforwards expiration | 2,013 | 2,012 | 2,011 | ||||||||||||||||||||||||||||||||
| Tax benefits resulting from the exercise of nonqualified stock options | 10,500,000 | 49,000,000 | 0 | ||||||||||||||||||||||||||||||||
| Increase in valuation allowance for deferred tax asset | 574,200,000 | 69,100,000 | |||||||||||||||||||||||||||||||||
| Valuation allowance | 1,254,000,000 | 694,500,000 | 632,000,000 | 665,700,000 | 110,900,000 | 530,400,000 | 3,800,000 | 1,246,000,000 | 689,400,000 | 626,900,000 | |||||||||||||||||||||||||
| Foreign tax credit carryforwards | 1,306,965,000 | 835,370,000 | |||||||||||||||||||||||||||||||||
| Foreign tax credit carryforward time period, years | 10 | ||||||||||||||||||||||||||||||||||
| Gaming tax | 35.00% | ||||||||||||||||||||||||||||||||||
| Tax credit of "net" foreign source income | 35.00% | ||||||||||||||||||||||||||||||||||
| Recognized Foreign Tax Credit tax benefit net of valuation allowance | 955,200,000 | 125,300,000 | 722,000,000 | 949,500,000 | 121,500,000 | 650,600,000 | 5,800,000 | 3,800,000 | 71,400,000 | ||||||||||||||||||||||||||
| Stock-based compensation that may be nondeductible | 2,700,000 | 1,300,000 | 1,300,000 | 1,300,000 | 0 | 0 | |||||||||||||||||||||||||||||
| Temporary differences resulting from earnings of certain non-U.S. subsidiaries | 325,100,000 | 358,200,000 | |||||||||||||||||||||||||||||||||
| Deferred tax liability associated with temporary differences | 113,800,000 | 125,400,000 | |||||||||||||||||||||||||||||||||
| Deferred tax liability, net of foreign tax credit | 56,100,000 | 41,500,000 | |||||||||||||||||||||||||||||||||
| Reversal of deferred tax liability | 41,500,000 | ||||||||||||||||||||||||||||||||||
| Repatriation of foreign earnings | 1,143,000,000 | 400,000,000 | 1,071,000,000 | ||||||||||||||||||||||||||||||||
| Extinguishment of debt, amount | 625,000,000 | ||||||||||||||||||||||||||||||||||
| Length of complementary tax exemption, years | 5 | ||||||||||||||||||||||||||||||||||
| Length of additional complementary tax exemption requested, years | 5 | ||||||||||||||||||||||||||||||||||
| Complementary tax rate | 12.00% | ||||||||||||||||||||||||||||||||||
| Amount of complementary tax exemption | 64,400,000 | 31,700,000 | 27,700,000 | ||||||||||||||||||||||||||||||||
| Annual complementary tax to be paid | 900,000 | 7,200,000 | |||||||||||||||||||||||||||||||||
| Complementary tax provision from the year 2006 through 2009 | 3,600,000 | ||||||||||||||||||||||||||||||||||
| Minimum percentage of chance of recognition for tax position to be recognized | 50.00% | ||||||||||||||||||||||||||||||||||
| Uncertain tax positions, noncurrent | 35,900,000 | 90,300,000 | 25,112,000 | 80,086,000 | |||||||||||||||||||||||||||||||
| US and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets | 48,000,000 | 58,000,000 | |||||||||||||||||||||||||||||||||
| Unrecognized tax benefits | 17,900,000 | 16,600,000 | |||||||||||||||||||||||||||||||||
| Unrecognized tax benefit decrease resulting in tax settlements | 78,400,000 | ||||||||||||||||||||||||||||||||||
| Decrease in liability for uncertain tax position | 55,000,000 | ||||||||||||||||||||||||||||||||||
| Utilization of foreign tax credit and general business credit carryforwards | 88,500,000 | 2,500,000 | |||||||||||||||||||||||||||||||||
| Unrecognized tax benefit decrease resulting in tax settlements, minimum | 0 | ||||||||||||||||||||||||||||||||||
| Unrecognized tax benefit decrease resulting in tax settlements, maximum | 54,000,000 | ||||||||||||||||||||||||||||||||||
| Estimated change in unrecognized tax benefits, minimum | 0 | ||||||||||||||||||||||||||||||||||
| Estimated change in unrecognized tax benefits, maximum | $ 8,000,000 | ||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of future tax effects arising from unused foreign tax credit carryforwards which will decrease future taxable income if applied in future years; a tax credit carryforward is the amount by which tax credits available for utilization exceeded statutory limits on inclusion in historical filings, and which can only be utilized if sufficient tax-basis income is generated in future periods and providing tax laws continue to allow such utilization. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the deferred tax liability which was not recognized because of the exceptions to comprehensive recognition of deferred taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the temporary difference for which a deferred tax liability has not been provided because of the exceptions to comprehensive recognition of deferred taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount of debt extinguished. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to differences in the deductibility of incentive stock options and other share-based compensation costs in accordance with generally accepted accounting principles and enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to the repatriation of foreign earnings in the period. No definition available.
|
| X | ||||||||||
|
- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified stock options) recognized on the entity's tax return exceeds compensation cost from non-qualified stock options recognized on the income statement. This element increases net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the deferred tax asset arising from a tax credit carryforward for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of complementary tax exemption No definition available.
|
| X | ||||||||||
|
- Definition
Annual Complementary Tax Obligation No definition available.
|
| X | ||||||||||
|
- Definition
Complementary Tax Provision Total No definition available.
|
| X | ||||||||||
|
- Definition
Complementary Tax Rate No definition available.
|
| X | ||||||||||
|
- Definition
Decrease in Liability for Uncertain Tax Position No definition available.
|
| X | ||||||||||
|
- Definition
Deferred tax liability net of foreign tax credit No definition available.
|
| X | ||||||||||
|
- Definition
Foreign tax credit carryforward time period, years No definition available.
|
| X | ||||||||||
|
- Definition
Length of additional complementary tax exemption requested, years No definition available.
|
| X | ||||||||||
|
- Definition
Length of complementary tax exemption, years No definition available.
|
| X | ||||||||||
|
- Definition
Minimum percentage of chance of recognition for tax position to be recognized No definition available.
|
| X | ||||||||||
|
- Definition
Operating Loss Carryforwards Expiration No definition available.
|
| X | ||||||||||
|
- Definition
Percent Tax Credit On Foreign Income No definition available.
|
| X | ||||||||||
|
- Definition
Recognized Foreign Tax Credit tax benefit net of valuation allowance No definition available.
|
| X | ||||||||||
|
- Definition
Reversal of Deferred Tax Liability No definition available.
|
| X | ||||||||||
|
- Definition
Significant change in unrecognized tax benefits is reasonably possible estimated range of change, maximum No definition available.
|
| X | ||||||||||
|
- Definition
Significant change in unrecognized tax benefits is reasonably possible estimated range of change, minimum No definition available.
|
| X | ||||||||||
|
- Definition
Special Gaming Tax On Gross Revenue No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities Minimum No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized tax benefits impact on effective tax rate No definition available.
|
| X | ||||||||||
|
- Definition
US and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets No definition available.
|
| X | ||||||||||
|
- Definition
Utilization of Foreign Tax Credit and General Business Credit Carryforwards No definition available.
|
|
Income Taxes (Summary of consolidated income (loss) before taxes for domestic and foreign operations) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Notes to Financial Statements | |||
| Domestic | $ (239,125) | $ (229,861) | $ (105,096) |
| Foreign | 576,168 | 271,967 | 254,014 |
| Income before income taxes | $ 337,043 | $ 42,106 | $ 148,918 |
| X | ||||||||||
|
- Definition
The portion of earnings (loss) from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of earnings (loss) from continuing operations before income taxes that is attributable to foreign operations, which is defined as income (loss) generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income (Loss) from Continuing Operations before Income Taxes and Minority Interest No definition available.
|
| X | ||||||||||
|
- Details
|
|
Income Taxes (Summary of benefit (provision) for income taxes) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Notes to Financial Statements | |||
| Foreign, current | $ (1,560) | $ (3,679) | $ (1,899) |
| Current, total | (1,560) | (3,679) | (1,899) |
| Federal, deferred | (9,640) | (2,090) | 58,606 |
| Foreign, deferred | (9,247) | 2,770 | 4,854 |
| Deferred, Total | (18,887) | 680 | 63,460 |
| Income tax benefit (provision), total | $ (20,447) | $ (2,999) | $ 61,561 |
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of foreign enacted tax law to the foreign taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the net change during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the net change in the entity's net foreign deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of applicable enacted tax laws of countries other than the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to pretax income (loss) from continuing operations; income tax expense (benefit) may include interest and penalties on tax uncertainties based on the entity's accounting policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total deferred income tax expense benefit federal and foreign No definition available.
|
| X | ||||||||||
|
- Definition
The noncurrent portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws, before the valuation allowance, if any, to reduce such amount to net realizable value. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from other temporary differences not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from tax carryforwards not otherwise specified in the taxonomy and which can only be utilized if sufficient tax-basis income is generated in future periods and providing tax laws continue to allow utilization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of future tax effects arising from unused foreign tax credit carryforwards which will decrease future taxable income if applied in future years; a tax credit carryforward is the amount by which tax credits available for utilization exceeded statutory limits on inclusion in historical filings, and which can only be utilized if sufficient tax-basis income is generated in future periods and providing tax laws continue to allow such utilization. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from share-based compensation costs, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The allocated portion as of the balance sheet date of a valuation allowance pertaining to a deferred tax asset classified as current for which, based on the weight of available evidence, it is more likely than not, such asset will not be fully realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The allocated portion as of the balance sheet date of a valuation allowance pertaining to a deferred tax asset classified as noncurrent for which, based on the weight of available evidence, it is more likely than not, such asset will not be fully realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the current portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A current taxable temporary difference is a difference between the tax basis and the carrying amount of a current asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of capital assets and the basis of capital assets computed in accordance with generally accepted accounting principles. The difference in basis, attributable to different capitalization of costs, depreciation, or amortization methodologies, will increase future taxable income when such basis difference is realized. Capital assets include but are not limited to assets such as land, real estate, leasehold improvements, machinery and equipment and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to undistributed earnings of subsidiaries and other recognized entities in countries outside the country of domicile which will increase future taxable income when such earnings are distributed into the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Deferred tax asset intangibles and related other No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Asset Pre Opening Costs And Other Current No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Asset Pre Opening Costs And Other Non Current No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Asset Pre Opening Costs Non Current No definition available.
|
| X | ||||||||||
|
- Definition
Deferred tax asset receivable inventories accrued liabilities and other No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets Interest Rate Swap Valuation Adjustment No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets Property Plant And Equipment No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets Syndication Costs No definition available.
|
| X | ||||||||||
|
- Definition
Prepaid insurance maintenance and taxes current No definition available.
|
|
Income Taxes (Federal statutory corporate tax rate) ( Details)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Federal statutory rate | 35.00% | 35.00% | 35.00% |
| Foreign tax rate differential | (38.80%) | (133.30%) | (38.60%) |
| Foreign tax credits, net of valuation allowance | (104.90%) | 77.00% | (484.90%) |
| Repatriation of Foreign earnings | 134.90% | 113.80% | 472.70% |
| Excess executive compensation | 0.70% | 5.40% | |
| Non-taxable Foreign income | (24.80%) | (108.60%) | (29.60%) |
| Non-deductible foreign property charges | 2.40% | ||
| Increase (decrease) in liability for uncertain tax positions | (3.70%) | ||
| General Business Credits | (0.40%) | (2.80%) | |
| Other, net | 1.40% | 2.60% | 2.80% |
| Valuation allowance, other | 3.00% | 15.60% | 5.00% |
| Effective tax rate | 6.10% | 7.10% | (41.30%) |
| X | ||||||||||
|
- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate shall be the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to changes in the valuation allowance for deferred tax assets. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the difference between statutory income tax rates in foreign jurisdictions and the domestic federal statutory income tax rate recorded during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to all other items not otherwise listed in the existing taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to the repatriation of foreign earnings under enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate attributable to changes in all income tax contingencies, whether recorded or adjusted, during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by foreign tax credits generated or utilized under enacted tax laws during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to income that is exempt from income taxes under enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Definition
Effective income tax rate reconciliation excess executive compensation No definition available.
|
| X | ||||||||||
|
- Definition
Effective Income Tax Rate Reconciliation General Business Credits No definition available.
|
| X | ||||||||||
|
- Definition
Effective Income Tax Rate Reconciliation Nondeductible Foreign Property Charges No definition available.
|
|
Income Taxes (Reconciliation of unrecognized tax benefits) ( Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Balance - beginning of year | $ 148,365 | $ 120,779 |
| Additions based on tax positions of the current year | 13,164 | 27,496 |
| Additions based on tax positions of prior years | 694 | 185 |
| Reductions for tax positions of prior years | (95) | |
| Settlements | (78,389) | |
| Balance - end of year | $ 83,834 | $ 148,365 |
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns. No definition available.
|
|
Commitments and Contingencies (Narrative) (USD $)
|
11 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Nov. 30, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2010
Land Concession [Member]
|
Dec. 31, 2010
Relinquishment of Rights to Land [Member]
|
Aug. 01, 2008
Cotai Land Agreement [Member]
|
Dec. 31, 2010
Maximum Payment to Each Person Per Year [Member]
|
May 03, 2010
Pending or Threatened Litigation [Member]
|
Dec. 31, 2010
Aircraft [Member]
|
Dec. 31, 2010
Third Aircraft [Member]
|
|
| Land concession contract period (years) | 25 | ||||||||||
| Acquisition costs | $ 42,700,000 | $ 18,400,000 | $ 50,000,000 | ||||||||
| Additional one-time land premium payment | 14,200,000 | ||||||||||
| Annual lease payment | 525,000 | ||||||||||
| Deposits assets, noncurrent | 19,400,000 | ||||||||||
| Significant Commitment, Remaining Minimum Amount Committed | 142,200,000 | ||||||||||
| Other asset impairment charges | 6,800,000 | ||||||||||
| Deposits for purchase of third aircraft | 8,000,000 | ||||||||||
| Additional payment to be made for acquisition of third aircraft | 49,300,000 | ||||||||||
| Rent expenses | 24,400,000 | 17,200,000 | 17,800,000 | ||||||||
| Loss contingency, estimate of possible loss | 300,000 | 32,000,000 | |||||||||
| Value of goods contingently subject to use taxes | $ 5,400,000 | ||||||||||
| X | ||||||||||
|
- Definition
The capitalized costs incurred to purchase, lease or otherwise acquire a property, including costs of lease bonuses and options to purchase or lease properties, the portion of costs applicable to minerals when land including mineral rights is purchased in fee, brokers' fees, recording fees, legal costs, and other costs incurred in acquiring properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total contractually required rental payments on capitalized leases net of deductions for: (i) executory costs, including any profit thereon, included in the minimum lease payments and (ii) the amount of imputed interest necessary to reduce the net minimum lease payments to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The floor amount as of the balance sheet date that the entity must expend to satisfy the terms of the disclosed arrangements (excluding long-term commitments) in which the entity has agreed to expend funds to procure goods or services from a supplier, or to commit resources to supply goods or services to a customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Additional One Time Land Premium Payment No definition available.
|
| X | ||||||||||
|
- Definition
Additional payment to be made for acquisition of subsequent aircraft No definition available.
|
| X | ||||||||||
|
- Definition
Deposit For Purchase Of Subsequent Aircrafts No definition available.
|
| X | ||||||||||
|
- Definition
Land concession contract period No definition available.
|
| X | ||||||||||
|
- Definition
Value of goods contingently subject to use taxes No definition available.
|
|
Commitments and Contingencies (Future minimum rental receivable under operating leases) ( Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2010
|
|---|---|
| 2011 | $ 15,085 |
| 2012 | 11,680 |
| 2013 | 3,468 |
| 2014 | 2,577 |
| 2015 | 824 |
| Thereafter | 1,223 |
| Total | $ 34,857 |
| X | ||||||||||
|
- Definition
Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies (Future minimum rental payable under non-cancelable operating leases) ( Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2010
|
|---|---|
| 2011 | $ 5,137 |
| 2012 | 2,514 |
| 2013 | 517 |
| 2014 | 228 |
| 2015 | 97 |
| Thereafter | 2,802 |
| Total | $ 11,295 |
| X | ||||||||||
|
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within one year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fifth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fourth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the third year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the second year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due after the fifth year from the balance sheet date on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information (Summary of assets and capital expenditures by segment) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Assets | $ 6,674,497 | $ 7,581,769 |
| Capital expenditures | 283,828 | 540,929 |
|
Wynn Macau [Member]
|
||
| Capital expenditures | 120,580 | 295,889 |
|
Wynn Las Vegas [Member]
|
||
| Capital expenditures | 157,080 | 245,040 |
|
Corporate and other [Member]
|
||
| Capital expenditures | $ 6,168 | |
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total expenditures for additions to long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets of the reportable segment. Must be disclosed if the amount (a) is included in the determination of segment assets reviewed by the chief operating decision maker or (b) is otherwise regularly provided to the chief operating decision maker, even if not included in the determination of segment assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information (Summary of operations by segment) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2009
|
Sep. 30, 2009
|
Jun. 30, 2009
|
Mar. 31, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||||
| Net revenues | $ 1,237,188 | $ 1,005,949 | $ 1,032,643 | $ 908,918 | $ 809,329 | $ 773,071 | $ 723,256 | $ 739,955 | $ 4,184,698 | [1] | $ 3,045,611 | [1] | $ 2,987,324 | [1] | ||||
| Adjusted property EBITDA | 1,162,985 | [1],[2] | 746,152 | [1],[2] | 738,732 | [1],[2] | ||||||||||||
| Pre-opening costs | 9,496 | 1,817 | 72,375 | |||||||||||||||
| Depreciation and amortization | 405,558 | 410,547 | 263,213 | |||||||||||||||
| Property charges and other | 25,219 | 28,458 | 32,584 | |||||||||||||||
| Corporate expenses and other | 96,659 | 70,246 | 57,071 | |||||||||||||||
| Equity in income from unconsolidated affiliates | 801 | 121 | 1,353 | |||||||||||||||
| Total other operating costs and expenses | 537,733 | 511,189 | 426,596 | |||||||||||||||
| Operating income | 230,309 | 131,949 | 148,146 | 114,848 | 45,517 | 79,499 | 82,798 | 27,149 | 625,252 | 234,963 | 312,136 | |||||||
| Interest income | 2,498 | 1,740 | 21,517 | |||||||||||||||
| Interest expense, net of amounts capitalized | (222,863) | (211,385) | (172,693) | |||||||||||||||
| Decrease in swap fair value | (880) | (2,258) | (31,485) | |||||||||||||||
| Gain (loss) on extinguishment of debt/exchange offer | (67,990) | 18,734 | 22,347 | |||||||||||||||
| Other | 225 | 191 | (4,257) | |||||||||||||||
| Total other non-operating costs and expenses | (288,209) | (192,857) | (163,218) | |||||||||||||||
| Income before provision for income taxes | 337,043 | 42,106 | 148,918 | |||||||||||||||
| (Provision) benefit for income taxes | (20,447) | (2,999) | 61,561 | |||||||||||||||
| Net income, total stockholder's equity | 171,874 | (2,054) | 88,917 | 57,859 | 13,232 | 34,210 | 25,479 | (33,814) | 316,596 | 39,107 | 210,479 | |||||||
|
Wynn Macau [Member]
|
||||||||||||||||||
| Net revenues | 2,888,634 | [1] | 1,816,038 | [1] | 1,888,435 | [1] | ||||||||||||
| Adjusted property EBITDA | 892,686 | [1],[2] | 502,087 | [1],[2] | 485,857 | [1],[2] | ||||||||||||
|
Wynn Las Vegas [Member]
|
||||||||||||||||||
| Net revenues | 1,296,064 | [1] | 1,229,573 | [1] | 1,098,889 | [1] | ||||||||||||
| Adjusted property EBITDA | $ 270,299 | [1],[2] | $ 244,065 | [1],[2] | $ 252,875 | [1],[2] | ||||||||||||
|
||||||||||||||||||
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. No definition available.
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Adjusted Property EBITDA No definition available.
|
| X | ||||||||||
|
- Definition
Corporate Expenses And Other No definition available.
|
| X | ||||||||||
|
- Definition
Income (Loss) from Continuing Operations before Income Taxes and Minority Interest No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of expenses charged against earnings to eliminate the capitalized costs of projects abandoned during the reporting period and expenses associated with business termination activities. No definition available.
|
| X | ||||||||||
|
- Definition
Total other non-operating costs and expenses No definition available.
|
|
Quarterly Financial Information (Unaudited) (Schedule of quarterly financial data) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2009
|
Sep. 30, 2009
|
Jun. 30, 2009
|
Mar. 31, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||
| Notes to Financial Statements | ||||||||||||||||
| Net revenues | $ 1,237,188 | $ 1,005,949 | $ 1,032,643 | $ 908,918 | $ 809,329 | $ 773,071 | $ 723,256 | $ 739,955 | $ 4,184,698 | [1] | $ 3,045,611 | [1] | $ 2,987,324 | [1] | ||
| Operating income | 230,309 | 131,949 | 148,146 | 114,848 | 45,517 | 79,499 | 82,798 | 27,149 | 625,252 | 234,963 | 312,136 | |||||
| Net income | 171,874 | (2,054) | 88,917 | 57,859 | 13,232 | 34,210 | 25,479 | (33,814) | 316,596 | 39,107 | 210,479 | |||||
| Net income (loss) attributable to Wynn Resorts | $ 114,242 | $ (33,508) | $ 52,405 | $ 26,988 | $ (5,221) | $ 34,210 | $ 25,479 | $ (33,814) | $ 160,127 | $ 20,654 | $ 210,479 | |||||
| Basic income (loss) per share | $ 0.93 | $ (0.27) | $ 0.43 | $ 0.22 | $ (0.04) | $ 0.28 | $ 0.21 | $ (0.30) | $ 1.3 | $ 0.17 | $ 1.94 | |||||
| Diluted income (loss) per share | $ 0.91 | $ (0.27) | $ 0.42 | $ 0.22 | $ (0.04) | $ 0.28 | $ 0.21 | $ (0.30) | $ 1.29 | $ 0.17 | $ 1.92 | |||||
|
||||||||||||||||
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (CONDENSED BALANCE SHEETS) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2007
|
Dec. 31, 2010
Parent Company [Member]
|
Dec. 31, 2009
Parent Company [Member]
|
Oct. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
Dec. 31, 2007
Parent Company [Member]
|
|
| Cash and cash equivalents | $ 1,258,499 | $ 1,991,830 | $ 1,133,904 | $ 1,275,120 | $ 662,561 | $ 85,648 | $ 662,285 | $ 402,268 | |
| Other receivables | 541 | 363 | |||||||
| Prepaid expenses | 28,326 | 31,242 | 995 | 999 | |||||
| Total current assets | 1,561,136 | 2,282,956 | 664,097 | 87,010 | |||||
| Property and equipment, net | 4,921,259 | 5,062,059 | 12,746 | 13,374 | |||||
| Due from subsidiaries | 95,681 | 50,940 | |||||||
| Deferred income taxes | 26,386 | 17,136 | |||||||
| Investment in subsidiaries | 4,232 | 4,102 | 1,729,393 | 3,091,550 | |||||
| Total assets | 6,674,497 | 7,581,769 | 2,501,917 | 3,260,010 | |||||
| Accounts payable | 88 | ||||||||
| Accrued compensation and benefits | 70,834 | 69,825 | 5,256 | 9,358 | |||||
| Other accrued expenses | 33,374 | 26,751 | 1,279 | 1,515 | |||||
| Deferred income taxes | 2,974 | 42,856 | 2,974 | 1,343 | |||||
| Total current liabilities | 887,929 | 725,585 | 9,597 | 12,216 | |||||
| Other long term liabilities | 64,248 | 120,726 | 9,742 | 7,345 | |||||
| Uncertain tax position liability | 35,900 | 90,300 | 25,112 | 80,086 | |||||
| Deferred income taxes | 76,881 | 76,881 | |||||||
| Total liabilities | 4,293,912 | 4,421,406 | 121,332 | 99,647 | |||||
| Commitments and contingencies | |||||||||
| Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding | |||||||||
| Common stock, par value $0.01; 400,000,000 shares authorized; 137,404,462 and 136,098,410 shares issued; and, 124,599,508 and 123,293,456 shares outstanding | 1,374 | 1,361 | 1,374 | 1,361 | |||||
| Treasury stock, at cost; 12,804,954 shares | (1,119,407) | (1,119,407) | (1,119,407) | (1,119,407) | |||||
| Additional paid-in capital | 3,346,050 | 4,239,497 | 3,346,050 | 4,239,497 | |||||
| Accumulated other comprehensive income | 889 | 2,446 | 889 | 2,446 | |||||
| Accumulated deficit | 9,042 | (89,559) | 9,042 | (89,559) | |||||
| Total Wynn Resorts, Limited stockholders' equity | 2,237,948 | 3,034,338 | 2,237,948 | 3,034,338 | |||||
| Noncontrolling interest | 142,637 | 126,025 | 142,637 | 126,025 | 107,400 | ||||
| Total equity | 2,380,585 | 3,160,363 | 1,601,595 | 1,956,959 | 2,380,585 | 3,160,363 | |||
| Total liabilities and stockholders' equity | $ 6,674,497 | $ 7,581,769 | $ 2,501,917 | $ 3,260,010 | |||||
| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of APIC associated with common AND preferred stock. For APIC associated with only common stock, use the element Additional Paid In Capital, Common Stock. For APIC associated with only preferred stock, use the element Additional Paid In Capital, Preferred Stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the current portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A current taxable temporary difference is a difference between the tax basis and the carrying amount of a current asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due after one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable form a party that is affiliated with the reporting entity by means of direct or indirect ownership. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Carrying amounts due as of the balance sheet date from parties or arising from transactions not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Dollar value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Value of common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Treasury stock is issued but is not outstanding. This stock has no voting rights and receives no dividends. Note that treasury stock may be recorded at its total cost or separately as par (or stated) value and additional paid in capital. Note: number of treasury shares concept is in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (CONDENSED STATEMENTS OF INCOME) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2009
|
Sep. 30, 2009
|
Jun. 30, 2009
|
Mar. 31, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||
| Net revenues | $ 1,237,188 | $ 1,005,949 | $ 1,032,643 | $ 908,918 | $ 809,329 | $ 773,071 | $ 723,256 | $ 739,955 | $ 4,184,698 | [1] | $ 3,045,611 | [1] | $ 2,987,324 | [1] | ||
| General and administrative | 391,254 | 365,070 | 319,303 | |||||||||||||
| Provision for doubtful accounts | 28,304 | 13,707 | 49,405 | |||||||||||||
| Depreciation and amortization | 405,558 | 410,547 | 263,213 | |||||||||||||
| Property charges and other | 25,219 | 28,458 | 32,584 | |||||||||||||
| Total operating costs and expenses | 3,559,446 | 2,810,648 | 2,675,188 | |||||||||||||
| Operating income | 230,309 | 131,949 | 148,146 | 114,848 | 45,517 | 79,499 | 82,798 | 27,149 | 625,252 | 234,963 | 312,136 | |||||
| Interest expense | 222,863 | 211,385 | 172,693 | |||||||||||||
| Increase (decrease) in swap fair value | (880) | (2,258) | (31,485) | |||||||||||||
| Gain (loss) on early extinguishment of debt | (67,990) | 18,734 | 22,347 | |||||||||||||
| Equity in income of subsidiaries | 801 | 121 | 1,353 | |||||||||||||
| Other | 225 | 191 | (4,257) | |||||||||||||
| Other income (expense), net | (288,209) | (192,857) | (163,218) | |||||||||||||
| Income before income taxes | 337,043 | 42,106 | 148,918 | |||||||||||||
| (Provision) benefit for income taxes | 20,447 | 2,999 | (61,561) | |||||||||||||
| Net income | 171,874 | (2,054) | 88,917 | 57,859 | 13,232 | 34,210 | 25,479 | (33,814) | 316,596 | 39,107 | 210,479 | |||||
| Less: Net income attributable to noncontrolling interests | (156,469) | (18,453) | ||||||||||||||
| Net income attributable to Wynn Resorts, Limited | 114,242 | (33,508) | 52,405 | 26,988 | (5,221) | 34,210 | 25,479 | (33,814) | 160,127 | 20,654 | 210,479 | |||||
| Basic | $ 0.93 | $ (0.27) | $ 0.43 | $ 0.22 | $ (0.04) | $ 0.28 | $ 0.21 | $ (0.30) | $ 1.3 | $ 0.17 | $ 1.94 | |||||
| Diluted | $ 0.91 | $ (0.27) | $ 0.42 | $ 0.22 | $ (0.04) | $ 0.28 | $ 0.21 | $ (0.30) | $ 1.29 | $ 0.17 | $ 1.92 | |||||
| Basic | 122,787,000 | 119,840,000 | 108,408,000 | |||||||||||||
| Diluted | 123,939,000 | 120,185,000 | 109,441,000 | |||||||||||||
|
Parent Company [Member]
|
||||||||||||||||
| Wynn Las Vegas management fees | 19,459 | 18,434 | 16,504 | |||||||||||||
| Wynn Macau royalty fees | 114,904 | 71,537 | 73,423 | |||||||||||||
| Net revenues | 134,363 | 89,971 | 89,927 | |||||||||||||
| General and administrative | 31,468 | 21,099 | 14,126 | |||||||||||||
| Provision for doubtful accounts | 68 | 234 | 250 | |||||||||||||
| Depreciation and amortization | 483 | 558 | 524 | |||||||||||||
| Property charges and other | 163 | |||||||||||||||
| Total operating costs and expenses | 32,046 | 21,423 | 14,400 | |||||||||||||
| Operating income | 102,317 | 68,548 | 75,527 | |||||||||||||
| Interest and other income | 1,750 | 623 | 9,437 | |||||||||||||
| Interest expense | (12,746) | (59,320) | ||||||||||||||
| Increase (decrease) in swap fair value | 5,773 | (19,434) | ||||||||||||||
| Gain (loss) on early extinguishment of debt | 22,512 | 22,347 | ||||||||||||||
| Equity in income of subsidiaries | 263,684 | (28,951) | 123,779 | |||||||||||||
| Other | (463) | |||||||||||||||
| Other income (expense), net | 265,434 | (12,789) | 76,346 | |||||||||||||
| Income before income taxes | 367,751 | 55,759 | 151,873 | |||||||||||||
| (Provision) benefit for income taxes | (51,155) | (16,652) | 58,606 | |||||||||||||
| Net income | 316,596 | 39,107 | 210,479 | |||||||||||||
| Less: Net income attributable to noncontrolling interests | (156,469) | (18,453) | ||||||||||||||
| Net income attributable to Wynn Resorts, Limited | $ 160,127 | $ 20,654 | $ 210,479 | |||||||||||||
| Basic | $ 1.30 | $ 0.17 | $ 1.94 | |||||||||||||
| Diluted | $ 1.29 | $ 0.17 | $ 1.92 | |||||||||||||
| Basic | 122,787,000 | 119,840,000 | 108,408,000 | |||||||||||||
| Diluted | 123,939,000 | 120,185,000 | 109,441,000 | |||||||||||||
|
||||||||||||||||
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. No definition available.
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. No definition available.
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt and equity securities and on cash and cash equivalents. Interest income represents earnings which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Dividend income represents a distribution of earnings to shareholders by investee companies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Revenue, comprised of base and incentive revenue derived from the management of joint ventures, managing third-party properties, or another entity's operations. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income (Loss) from Continuing Operations before Income Taxes and Minority Interest No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of expenses charged against earnings to eliminate the capitalized costs of projects abandoned during the reporting period and expenses associated with business termination activities. No definition available.
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (CONDENSED STATEMENTS OF CASH FLOWS) (Details) (USD $)
|
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2010
Parent Company [Member]
|
Dec. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
|
| Net income | $ 316,596,000 | $ 39,107,000 | $ 210,479,000 | $ 316,596,000 | $ 39,107,000 | $ 210,479,000 |
| Depreciation and amortization | 405,558,000 | 410,547,000 | 263,213,000 | 483,000 | 558,000 | 524,000 |
| Deferred income taxes | 18,875,000 | (656,000) | (63,460,000) | 51,155,000 | 16,652,000 | (58,606,000) |
| Stock-based compensation | 27,168,000 | 24,336,000 | 20,328,000 | 10,792,000 | 10,937,000 | 6,687,000 |
| Gain Losses On Exchange Extinguishment Settlement Of Debt | 62,608,000 | (18,734,000) | (22,347,000) | (22,512,000) | (22,347,000) | |
| Provision for doubtful accounts | (28,304,000) | (13,707,000) | (49,405,000) | (68,000) | (234,000) | (250,000) |
| Amortization of deferred financing costs and other | 24,342,000 | 26,160,000 | 21,951,000 | 718,000 | 3,836,000 | |
| Increase (decrease) in swap fair value | 880,000 | 2,258,000 | 31,485,000 | (5,773,000) | 19,434,000 | |
| Property charges and other | 10,270,000 | 28,458,000 | 32,584,000 | 163,000 | ||
| Dividends received from subsidiary | 1,509,584,000 | 529,846,000 | 1,071,148,000 | |||
| Equity in income of subsidiaries | (801,000) | (121,000) | (1,353,000) | (263,684,000) | 28,951,000 | (123,779,000) |
| Receivables | 63,073,000 | 41,416,000 | (4,621,000) | (178,000) | (597,000) | 37,000 |
| Prepaid expenses and other | 4,000 | 1,161,000 | (28,000) | |||
| Accounts payable and accrued expenses | 213,578,000 | 151,239,000 | 23,537,000 | (8,305,000) | (938,000) | (9,083,000) |
| Due to (from) affiliates | (9,040,000) | (18,434,000) | (52,912,000) | |||
| Net cash provided by operating activities | 1,057,312,000 | 593,956,000 | 523,183,000 | 1,607,570,000 | 579,910,000 | 1,045,390,000 |
| Capital expenditures | 283,828,000 | 540,929,000 | 1,333,182,000 | |||
| Restricted cash | (31,052,000) | |||||
| Due to (from) subsidiaries | (25,300,000) | (37,918,000) | (9,017,000) | |||
| Net cash used in investing activities | (296,123,000) | (551,080,000) | (1,338,999,000) | 4,700,000 | (37,918,000) | (9,017,000) |
| Proceeds from issuance of long-term debt | 2,246,361,000 | 1,151,781,000 | 1,379,968,000 | |||
| Principal payments on long-term debt | (2,551,561,000) | (1,799,040,000) | (600,260,000) | (364,688,000) | (596,094,000) | |
| Repurchase of Wynn Las Vegas First Mortgage Notes | (50,048,000) | (30,000,000) | (50,048,000) | |||
| Note payable to Wynn Las Vegas, LLC | (80,000,000) | |||||
| Borrowings from Wynn Resorts International | 150,000,000 | |||||
| Repayments to Wynn Resorts International | (150,000,000) | |||||
| Capital contribution to Wynn Las Vegas LLC | (50,000,000) | (412,951,000) | ||||
| Proceeds from issuance of common stock | 202,145,000 | 344,250,000 | 209,760,000 | 344,250,000 | ||
| Dividends Paid | (1,192,138,000) | (489,876,000) | (1,051,543,000) | (489,876,000) | ||
| Exercise of stock options | 66,186,000 | 6,347,000 | 2,782,000 | 66,186,000 | 6,347,000 | 2,782,000 |
| Cash restricted for stock repurchases | 500,068,000 | 500,068,000 | ||||
| Purchase of treasury stock | (940,130,000) | (940,130,000) | ||||
| Interest rate swap transactions | (9,561,000) | (6,300,000) | (9,561,000) | (4,100,000) | ||
| Payments for deferred financing costs and other | (7,612,000) | (3,132,000) | ||||
| Net cash provided by (used in) financing activities | (1,492,636,000) | 815,515,000 | 667,572,000 | (1,035,357,000) | (1,118,629,000) | (776,356,000) |
| Increase (decrease) in cash and cash equivalents | (733,331,000) | 857,926,000 | (141,216,000) | 576,913,000 | (576,637,000) | 260,017,000 |
| Balance, beginning of period | 1,991,830,000 | 1,133,904,000 | 1,275,120,000 | 85,648,000 | 662,285,000 | 402,268,000 |
| Balance, end of period | $ 1,258,499,000 | $ 1,991,830,000 | $ 1,133,904,000 | $ 662,561,000 | $ 85,648,000 | $ 662,285,000 |
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in receivables to be collected from other entities that could exert significant influence over the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the value of this group of assets within the working capital section. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The expense charged against earnings to eliminate the capitalized costs of projects that have been terminated during the reporting period. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) associated with the sale or (acquisition) of a business segment during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire investments (not to include restricted cash) that are pledged or subject to withdrawal restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Dividends received on equity and other investments during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the payment of other borrowing not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the payment of borrowing made from related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amortization of cash outflows paid to third parties in connection with debt origination, which will occur over the remaining maturity period of the associated long-term debt. No definition available.
|
| X | ||||||||||
|
- Definition
Cash restricted for stock repurchases No definition available.
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying value of the debt at the time of its exchange, extinguishment, or settlement. No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate swap transactions No definition available.
|
| X | ||||||||||
|
- Definition
Payment For Deferred Financing Costs And Other No definition available.
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (Basis of presentation) (Narrative) (Details)
|
1 Months Ended | |
|---|---|---|
|
Oct. 31, 2009
|
Oct. 31, 2009
|
|
| Common stock of subsidiary sold | 1,437,500,000 | |
| Percentage of subsidiary's common stock sold | 27.70% | |
|
Parent Company [Member]
|
||
| Common stock of subsidiary sold | 1,437,500,000 | 1,437,500,000 |
| X | ||||||||||
|
- Definition
The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage Of Subsidiary's Common Stock Sold No definition available.
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (Commitments and contingencies) (Narrative) (Details) (Parent Company [Member], USD $)
In Millions, unless otherwise specified |
1 Months Ended | 12 Months Ended |
|---|---|---|
|
Nov. 30, 2009
|
Dec. 31, 2010
|
|
|
Parent Company [Member]
|
||
| Cash dividends paid to parent company | $ 530 | $ 1,510 |
| X | ||||||||||
|
- Definition
This element represents disclosure of the aggregate cash dividends paid to the entity by consolidated subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (Long-term debt) (Narrative) (Details) (USD $)
|
0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|---|---|
|
Aug. 01, 2008
|
Dec. 31, 2008
|
Nov. 26, 2008
Parent Company [Member]
|
Nov. 26, 2008
Wynn Resorts Term Loan [Member]
Parent Company [Member]
|
Jun. 30, 2009
Wynn Resorts Term Loan [Member]
Parent Company [Member]
|
Dec. 31, 2009
Wynn Resorts Term Loan [Member]
Parent Company [Member]
|
Nov. 13, 2008
Wynn Resorts Term Loan [Member]
Parent Company [Member]
|
Dec. 31, 2007
Wynn Resorts Term Loan [Member]
Parent Company [Member]
|
Jun. 21, 2007
Wynn Resorts Term Loan [Member]
Parent Company [Member]
|
|
| Debt instrument principal amount | $ 1,000,000,000 | ||||||||
| Debt instrument principal outstanding | 1,000,000,000 | ||||||||
| Debt instrument, unused borrowing capacity | 350,000,000 | ||||||||
| Value of debt purchased by chairman and chief executive officer | 198,250,000 | ||||||||
| Extinguishment of debt, amount authorized | 650,000,000 | ||||||||
| Extinguishment of debt, amount | 625,000,000 | 625,000,000 | 375,000,000 | ||||||
| Extinguishment of debt, discount price paid | 596,100,000 | 364,700,000 | |||||||
| Debt issued at discount, price as percentage of principal | 95.375% | 97.25% | |||||||
| Gain on extinguishment of debt, net | $ 22,300,000 | $ 8,800,000 | |||||||
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of outstanding principal due under the debt instrument at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unused borrowing capacity under the long-term financing arrangement that is available to the entity as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount of debt extinguished. No definition available.
|
| X | ||||||||||
|
- Definition
The difference between the reacquisition price and the net carrying amount of the extinguished debt recognized currently as a component of income in the period of extinguishment, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt issued at discount, price as percentage of principal No definition available.
|
| X | ||||||||||
|
- Definition
Extinguishment of debt amount authorized No definition available.
|
| X | ||||||||||
|
- Definition
Extinguishment of debt, discount price paid No definition available.
|
| X | ||||||||||
|
- Definition
Value of debt purchased by chairman and chief executive officer No definition available.
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (Equity repurchase program) (Narrative) (Details) (USD $)
|
0 Months Ended | 5 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|---|
|
Jun. 06, 2007
|
Jun. 06, 2007
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Repurchase of equity amount authorized | $ 1,200,000,000 | ||||
| Repurchase of equity additional amount authorized | 500,000,000 | ||||
| Aggregate of repurchase of equity amount authorized | 1,700,000,000 | ||||
| Stock repurchases, shares | 12,804,954 | 12,804,954 | 10,915,633 | ||
| Stock repurchases, value | (940,130,000) | ||||
|
Parent Company [Member]
|
|||||
| Repurchase of equity amount authorized | 1,200,000,000 | ||||
| Repurchase of equity additional amount authorized | 500,000,000 | ||||
| Aggregate of repurchase of equity amount authorized | 1,700,000,000 | ||||
| Stock repurchases, shares | 12,804,954 | 10,915,633 | |||
| Stock repurchases, value | $ 1,100,000,000 | ||||
| Stock repurchased during period, average price per share | $ 87.42 | ||||
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate of repurchase of equity amount authorized No definition available.
|
| X | ||||||||||
|
- Definition
Repurchase of equity additional amount authorized No definition available.
|
| X | ||||||||||
|
- Definition
Repurchase of equity amount authorized No definition available.
|
| X | ||||||||||
|
- Definition
Stock repurchased during period, average price per share No definition available.
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (Common stock secondary offering) (Narrative) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 11 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 11 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 20, 2009
|
Nov. 18, 2008
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Mar. 20, 2009
Parent Company [Member]
|
Oct. 31, 2007
Parent Company [Member]
|
Nov. 18, 2008
Parent Company [Member]
|
Dec. 31, 2009
Parent Company [Member]
|
Dec. 31, 2008
Parent Company [Member]
|
|
| Stock issued during period, shares | 8,000,000 | 11,040,000 | 8,000,000 | 11,040,000 | ||||||
| Proceeds from issuance of common stock | $ 202,100 | $ 344,300 | $ 202,145 | $ 344,250 | $ 202,300 | $ 1,800,000 | $ 344,300 | $ 209,760 | $ 344,250 | |
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
WYNN RESORTS, LIMITED (Parent Company Only) (Non-controlling interest) (Narrative) (Details)
|
1 Months Ended | 3 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Oct. 31, 2009
|
Mar. 20, 2009
USD ($)
|
Nov. 02, 2010
USD ($)
|
Nov. 18, 2008
USD ($)
|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2009
USD ($)
|
Dec. 31, 2008
USD ($)
|
Nov. 02, 2010
HKD
|
Nov. 02, 2010
Parent Company [Member]
USD ($)
|
Mar. 20, 2009
Parent Company [Member]
USD ($)
|
Oct. 31, 2009
Parent Company [Member]
USD ($)
|
Oct. 31, 2009
Parent Company [Member]
USD ($)
|
Oct. 31, 2007
Parent Company [Member]
USD ($)
|
Nov. 18, 2008
Parent Company [Member]
USD ($)
|
Dec. 31, 2010
Parent Company [Member]
USD ($)
|
Dec. 31, 2009
Parent Company [Member]
USD ($)
|
Dec. 31, 2008
Parent Company [Member]
USD ($)
|
|
| Common stock of subsidiary sold | 1,437,500,000 | 1,437,500,000 | 1,437,500,000 | ||||||||||||||
| Percentage of subsidiary's common stock sold | 27.70% | ||||||||||||||||
| Proceeds from issuance of common stock | $ 202,100,000 | $ 344,300,000 | $ 202,145,000 | $ 344,250,000 | $ 202,300,000 | $ 1,800,000,000 | $ 344,300,000 | $ 209,760,000 | $ 344,250,000 | ||||||||
| Net income attributable to noncontrolling interest | 156,500,000 | 18,500,000 | |||||||||||||||
| Dividend per share | $ 0.76 | 0.76 | |||||||||||||||
| Noncontrolling interest | 142,637,000 | 126,025,000 | 107,400,000 | 107,400,000 | 142,637,000 | 126,025,000 | |||||||||||
| Total dividend | 508,000,000 | 996,500,000 | 493,100,000 | 508,000,000 | |||||||||||||
| Company share of dividend | 367,000,000 | 367,000,000 | |||||||||||||||
| Reduction in noncontrolling interest | $ 140,700,000 | $ 140,700,000 | |||||||||||||||
| X | ||||||||||
|
- Definition
Aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The per share amount of a dividend declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to noncontrolling interests, if any, which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items and cumulative effects of changes in accounting principles which are apportioned to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions to noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Company Share Of Dividend No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Subsidiary's Common Stock Sold No definition available.
|
|
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Schedule of valuation allowance and reserves) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
| Valuation allowances and reserves, beginning balance | $ 102,081 | $ 102,819 | $ 66,146 |
| Provision for doubtful accounts | 28,304 | 13,707 | 49,405 |
| Write-offs, net of recoveries | (16,294) | (14,445) | (12,732) |
| Valuation allowances and reserves, ending balance | $ 114,091 | $ 102,081 | $ 102,819 |
| X | ||||||||||
|
- Definition
Total of the adjustments in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, charged to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|