Document And Entity Information
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9 Months Ended | |
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Sep. 30, 2011
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Nov. 01, 2011
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Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2011 | |
Document Fiscal Year Focus | 2011 | |
Document Fiscal Period Focus | Q3 | |
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 Common Stock, Shares Outstanding | 124,957,158 |
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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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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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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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- 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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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. 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, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
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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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- 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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- 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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- 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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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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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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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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 additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital 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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- 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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- 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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- Details
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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 are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable 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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- Definition
The current portion 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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 separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are 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, is classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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 separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are 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, are classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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 from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- Definition
Total debt and equity financial instruments including: (1) securities held-to-maturity and (2) securities available-for-sale that will be held for the long-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. 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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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). 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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- Definition
The total 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, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- Details
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- Definition
Land Concession Obligation Current No definition available.
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- Definition
Land Concession Obligation Noncurrent No definition available.
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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
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Sep. 30, 2011
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Dec. 31, 2010
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Condensed Consolidated Balance Sheets [Abstract] | ||
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 | 137,807,088 | 137,404,462 |
Common stock, shares outstanding | 124,957,158 | 124,599,508 |
Treasury stock, shares | 12,849,930 | 12,804,954 |
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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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- 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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- 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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- 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. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- 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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- Details
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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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Condensed Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2011
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Sep. 30, 2010
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Sep. 30, 2011
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Sep. 30, 2010
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Operating revenues: | ||||
Casino | $ 1,020,205 | $ 765,391 | $ 3,108,553 | $ 2,246,184 |
Rooms | 120,113 | 101,550 | 355,492 | 294,985 |
Food and beverage | 142,891 | 129,432 | 419,542 | 368,596 |
Entertainment, retail and other | 105,530 | 85,945 | 306,900 | 255,808 |
Gross revenues | 1,388,739 | 1,082,318 | 4,190,487 | 3,165,573 |
Less: promotional allowances | (90,435) | (76,369) | (264,558) | (218,063) |
Net revenues | 1,298,304 | 1,005,949 | 3,925,929 | 2,947,510 |
Operating costs and expenses: | ||||
Casino | 679,479 | 500,303 | 1,988,339 | 1,467,499 |
Rooms | 31,135 | 30,572 | 93,594 | 93,363 |
Food and beverage | 73,250 | 72,221 | 214,203 | 206,754 |
Entertainment, retail and other | 52,152 | 50,062 | 162,591 | 147,819 |
General and administrative | 107,935 | 103,030 | 287,508 | 285,699 |
Provision for doubtful accounts | 4,324 | 859 | 18,269 | 14,729 |
Pre-opening costs | 85 | 9,071 | ||
Depreciation and amortization | 100,522 | 99,341 | 303,921 | 305,259 |
Property charges and other | 9,662 | 17,527 | 124,070 | 22,374 |
Total operating costs and expenses | 1,058,459 | 874,000 | 3,192,495 | 2,552,567 |
Operating income | 239,845 | 131,949 | 733,434 | 394,943 |
Other income (expense): | ||||
Interest income | 2,663 | 953 | 4,639 | 1,812 |
Interest expense, net of capitalized interest | (57,462) | (60,341) | (173,956) | (163,200) |
Increase (decrease) in swap fair value | 4,118 | (352) | 11,483 | (5,629) |
Loss on extinguishment of debt/exchange offer | (64,215) | (67,367) | ||
Equity in income from unconsolidated affiliates | 376 | 112 | 1,242 | 618 |
Other | (85) | (1,141) | 1,616 | (446) |
Other income (expense), net | (50,390) | (124,984) | (154,976) | (234,212) |
Income before income taxes | 189,455 | 6,965 | 578,458 | 160,731 |
Provision for income taxes | (4,270) | (9,019) | (11,607) | (16,009) |
Net income (loss) | 185,185 | (2,054) | 566,851 | 144,722 |
Less: Net income attributable to noncontrolling interest | (58,122) | (31,454) | (143,953) | (98,837) |
Net income (loss) attributable to Wynn Resorts, Limited | $ 127,063 | $ (33,508) | $ 422,898 | $ 45,885 |
Net income (loss) attributable to Wynn Resorts, Limited: | ||||
Basic | $ 1.02 | $ (0.27) | $ 3.41 | $ 0.37 |
Diluted | $ 1.01 | $ (0.27) | $ 3.37 | $ 0.37 |
Weighted average common shares outstanding: | ||||
Basic | 124,176 | 122,771 | 123,969 | 122,569 |
Diluted | 125,860 | 122,771 | 125,675 | 123,564 |
Dividends declared per common share: | $ 0.50 | $ 0.25 | $ 1.00 | $ 0.50 |
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenues generated by casino operations. Also includes 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- 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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- Details
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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). 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. 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
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. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or 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 profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of net Income or 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 or 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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. 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 income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. 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. 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
This element represents the estimated retail value of accommodations, food and beverage, and other services furnished to guests without charge. 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
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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 or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units 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 complimentary 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 noncontrolling 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, expenses associated with business termination activities and other expenses. 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 are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing the increase (decrease) 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
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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 equity-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
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X | ||||||||||
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified equity-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) 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 or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The expense charged against earnings to eliminate the capitalized costs of projects that have been terminated during the reporting period, which 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
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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 from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to acquire debt securities classified as available-for-sale securities, because they are not classified as either held-to-maturity securities or trading securities. 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 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 associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period. 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. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. 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
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 aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, 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
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for 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
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
Costs incurred related to the extinguishment/exchange or modification of debt. 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.
|
Organization And Basis Of Presentation
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9 Months Ended |
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Sep. 30, 2011
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Organization And Basis Of Presentation [Abstract] | |
Organization And Basis Of Presentation |
1. Organization and Basis of Presentation 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." In October 2009, Wynn Macau, Limited, an indirect wholly-owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, had its ordinary shares of common stock listed 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 its common stock. 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 (together, "Wynn Las Vegas" or the "Las Vegas Operations"). 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 (together, "Wynn Macau" or the "Macau Operations"). Basis of Presentation The accompanying condensed 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. The accompanying condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures herein are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary for a fair presentation of the results for the interim periods have been made. The results for the three months and nine months ended September 30, 2011 are not necessarily indicative of results to be expected for the full fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2010. |
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary Of Significant Accounting Policies
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2011
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Summary Of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents are comprised of highly liquid investments with purchase maturities of three months or less and include both U.S. dollar-denominated and foreign currency-denominated securities. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents of $1.1 billion and $663.9 million at September 30, 2011 and December 31, 2010, respectively, were invested in time deposits, money market accounts, U.S. Treasuries and commercial paper. The Company utilized Level 1 inputs as described in Note 10 to determine fair value. Investment Securities Investment securities consist of short-term and long-term investments in domestic and foreign corporate debt securities and commercial paper. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Originally the Company's investments had been classified as held-to-maturity because the Company had the positive intent and ability to hold them to maturity. However, during the third quarter of 2011, due to the economic uncertainty in the global financial markets, the Company elected to change the classification of its investments from held-to-maturity to available-for-sale. In August 2011, the Company sold investments with a net carrying value of $30.1 million and realized a loss of $0.1 million. As of September 30, 2011, all remaining investments are classified as available-for-sale. These investments are reported at fair value, with unrealized gains and losses, net of tax, reported in other comprehensive income (loss). The Company utilized Level 1 inputs as described in Note 10 to determine fair value. Adjustments are made for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in interest income together with realized gains and losses and the stated interest on such securities.
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 September 30, 2011 and December 31, 2010, approximately 80% and 82%, 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 collectibility 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 allowance for doubtful accounts is maintained to reduce the Company's receivables to their estimated 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, 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. Revenue Recognition and Promotional Allowances 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 term. 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. The Company's casino revenues are reduced by discounts and 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 and then deducted as promotional allowances. The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (amounts in thousands):
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 Condensed Consolidated Statements of Operations. For the three months ended September 30, 2011 and 2010, gaming taxes totaled approximately $472.9 million and $331.9 million, respectively. For the nine months ended September 30, 2011 and 2010, gaming taxes totaled approximately $1,383.7 million and $970.3 million, 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. For the three months ended September 30, 2011 and 2010, advertising costs totaled approximately $5.5 million and $4.7 million, respectively. For the nine months ended September 30, 2011 and 2010, advertising costs totaled approximately $12.9 million and $13.7 million, respectively.
Reclassifications Certain amounts in the condensed consolidated financial statements for 2010 have been reclassified to be consistent with the current period presentation. These reclassifications had no effect on the previously reported net income (loss). Recently Issued Accounting Standards In May 2011, the Financial Accounting Standards Board (the "FASB") issued an accounting standards update that is intended to align the principles for fair value measurements and the related disclosure requirements under GAAP and IFRS. From a GAAP perspective, the updates are largely clarifications and certain additional disclosures. The effective date for this update is for years, and the interim periods within those years, beginning after December 15, 2011. This update is not expected to have a material impact on the Company's financial statements. In June 2011, the FASB issued an accounting standards update that will require items of net income, items of other comprehensive income ("OCI") and total comprehensive income to be presented in one continuous statement or two separate but consecutive statements. This will make the presentation of items within OCI more prominent. Companies will no longer be allowed to present OCI in the statement of stockholders' equity. The effective date for this update is for years, and the interim periods within those years, beginning after December 15, 2011.
In September 2011, the FASB issued an accounting standards update that requires more information be disclosed about an employer's financial obligations to a multiemployer pension plan. The Company participates in such a plan and will make the required disclosures in its annual report on Form 10-K for the year ending December 31, 2011. As the standard update requires disclosure only, the Company does not expect the implementation to have a material impact on its financial statements. |
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- Definition
The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2011
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share |
3. Earnings Per Share Basic earnings per share ("EPS") is computed by dividing net income (loss) attributable to Wynn Resorts by the weighted average number of shares outstanding during the period. 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 consisted of the following (amounts in thousands):
A total of 25,200 and 610,200 stock options were excluded from the calculation of diluted EPS for the three and nine months ended September 30, 2011, respectively, because including them would have been anti-dilutive under the treasury stock method. For the three months ended September 30, 2010, the Company recorded a net loss. Accordingly, the potential dilution from the assumed exercise of stock options and nonvested stock is anti-dilutive. As a result, basic EPS is equal to diluted EPS for that period. A total of 1,260,000 and 1,269,000 stock options were excluded from the calculation of diluted EPS for the three and nine months ended September 30, 2010, respectively, because including them would have been anti-dilutive under the treasury stock method. |
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Comprehensive Income (Loss)
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Comprehensive Income (Loss) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income |
4. Comprehensive Income (Loss) Total comprehensive income (loss) consisted of the following (amounts in thousands):
As of December 31, 2010, accumulated other comprehensive income consisted solely of currency translation adjustments. |
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The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Disclosure Of Cash Flow Information
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Supplemental Disclosure Of Cash Flow Information [Abstract] | |
Supplemental Disclosure Of Cash Flow Information |
5. Supplemental Disclosure of Cash Flow Information Interest paid for the nine months ended September 30, 2011 and 2010 totaled $177.2 million and $130.9 million, respectively. Interest capitalized for the nine months ended September 30, 2011 and 2010 totaled $0 and $7.2 million, respectively. For the nine months ended September 30, 2011 and 2010, capital expenditures include an increase of $16.8 million and a decrease of $20 million, respectively, in construction payables and retention. |
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The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Receivables, Net
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Receivables, Net [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, Net | 6. Receivables, net Receivables, net consisted of the following (amounts in thousands):
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The entire disclosure for 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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Property And Equipment, Net | 7. Property and Equipment, net Property and equipment, net consisted of the following (amounts in thousands):
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The entire disclosure for 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, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investment Securities
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Investment Securities | 8. Investment Securities Investment securities consisted of the following (amounts in thousands):
As described in Note 2, the Company transferred investments classified as held-to maturity to available-for-sale with a net carrying value of $249.5 million and a net unrealized loss of $1 million.
The amortized cost and estimated fair value of these investment securities at September 30, 2011, by contractual maturity are shown below (amounts in thousands):
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Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt
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Long-Term Debt |
9. Long-Term Debt Long-term debt consisted of the following (amounts in thousands):
Wynn Las Vegas Revolving Credit Facilities As of September 30, 2011, no amounts were outstanding under the Wynn Las Vegas Revolving Credit Facilities. The Company had $19.5 million of outstanding letters of credit that reduce its availability under the Wynn Las Vegas Revolving Credit Facilities. Accordingly, the Company has availability of $347.5 million under the Wynn Las Vegas Revolving Credit Facilities as of September 30, 2011. Wynn Macau Senior Revolving Credit Facility As of September 30, 2011, no amounts were outstanding under the Wynn Macau Senior Revolving Credit Facility. Accordingly, the Company has availability of $1 billion under the Wynn Macau Credit Facilities as of September 30, 2011.
In September 2011, the Company made the first of 12 quarterly payments under the Wynn Macau Senior Term Loan Facilities. Debt Covenant Compliance As of September 30, 2011, management believes the Company was in compliance with all debt covenants. Fair Value of Long-Term Debt The net book value of the Company's outstanding first mortgage notes was approximately $2.2 billion at both September 30, 2011 and December 31, 2010. The estimated fair value of the Company's outstanding first mortgage notes, based on quoted market prices, was approximately $2.3 billion at both September 30, 2011 and December 31, 2010. The net book value of the Company's other debt instruments was approximately $1 billion and $1.1 billion at September 30, 2011 and December 31, 2010, respectively. The estimated fair value of the Company's other debt instruments was approximately $1 billion and $1.1 billion at September 30, 2011 and December 31, 2010, respectively. |
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The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Interest Rate Swaps
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Interest Rate Swaps |
10. 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 as an increase/decrease in swap fair value in the accompanying Condensed Consolidated Statements of Operations, 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 interest rate swaps as Level 2. The following table presents the historical fair value of the interest rate swaps recorded in the accompanying Condensed Consolidated Balance Sheets as of September 30, 2011 and December 31, 2010. 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 September 30, 2011, $4 million of the interest rate swap liabilities are included in other accrued expenses and $6 million are included in other long-term liabilities. 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.
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, 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 approximately 5.485%. This interest rate swap agreement matures in November 2012. Wynn Macau Swaps The Company currently has one interest rate swap agreement 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 U.S.$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 September 30, 2011, this interest rate swap fixes the interest rate on such borrowings at 3.4%. This interest rate swap agreement matures in June 2012. In August 2011, two interest rate swap agreements that the Company had entered into to hedge a portion of the underlying interest rate risk on borrowings under the Wynn Macau Credit Facilities expired. Under the first swap agreement, the Company paid 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 paid a fixed interest rate of 3.39% on Hong Kong dollar borrowings of HK $991.6 million (approximately U.S.$127 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. Until they expired in August 2011, these interest rate swaps fixed the interest rates on the U.S. dollar and the Hong Kong dollar borrowings under the Wynn Macau Credit Facilities at 4.88% - 5.38% and 4.64%, respectively. |
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The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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9 Months Ended |
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Sep. 30, 2011
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Related Party Transactions [Abstract] | |
Related Party Transactions | 11. 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 household employees, construction work and other personal services. Mr. Wynn and the other officers and directors have deposits with the Company to prepay any such items, which are replenished on an ongoing basis as needed. As of September 30, 2011 and December 31, 2010, Mr. Wynn and the other officers and directors had a net deposit balance with the Company of approximately $2 million and $0.3 million, respectively. Villa Suite Lease 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 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 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 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 are included in the rental.
On March 17, 2010, Elaine P. Wynn 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. Pursuant to the terms of the EW Lease, Elaine P. Wynn paid 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 were included in the rental. The EW Lease superseded the terms of a prior agreement. The term of the EW lease commenced as of March 1, 2010 and was scheduled to terminate on December 31, 2010. The lease was extended on a month-to-month basis after December 31, 2010 until terminated effective March 31, 2011. 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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The entire disclosure for related party transactions, including 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 | 12. Property Charges and Other Property charges and other consisted of the following (amounts in thousands):
Property charges generally include costs related to the retirement of assets for remodels and asset abandonments. Property charges and other for the three months ended September 30, 2011 include miscellaneous renovations and abandonments at our resorts, including modifications of the Encore at Wynn Las Vegas retail esplanade and the closure of the Blush nightclub. Property charges and other for the nine months ended September 30, 2011 include the present value of a charitable contribution made by Wynn Macau to the University of Macau Development Foundation. This contribution consists of a $25 million payment made in May 2011, and a commitment for additional donations of $10 million each year for the calendar years 2012 through 2022 inclusive, for a total of $135 million. The amount reflected in the accompanying Condensed Consolidated Statements of Operations has been discounted using the Company's current estimated borrowing rate over the time period of the remaining committed payments. In accordance with accounting standards for contributions, subsequent accretion of the discount is being recorded as additional donation expense and included in Property charges and other. Property charges and other for the nine months ended September 30, 2011 also include the write off of certain costs related to a show that ended its run in Las Vegas. Property charges and other for the three and nine months ended September 30, 2010 include a contract termination payment of $14.9 million related to a management contract for certain of the nightclubs at Wynn Las Vegas. The remaining charges were for miscellaneous renovations, abandonments and gain/loss on sale of equipment at our resorts. |
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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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Noncontrolling Interest
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Sep. 30, 2011
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Noncontrolling Interest [Abstract] | |
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, had its ordinary shares of common stock listed 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 its common stock (the "Wynn Macau Limited IPO"). 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. Net income attributable to noncontrolling interest was $58.1 million and $31.5 million for the three months ended September 30, 2011 and 2010, respectively. Net income attributable to noncontrolling interest was $144 million and $98.8 million for the nine months ended September 30, 2011 and 2010, respectively. |
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The entire disclosure for 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 or 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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Stockholders' Equity
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9 Months Ended |
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Sep. 30, 2011
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Stockholders' Equity [Abstract] | |
Stockholders Equity | 14. Stockholders' Equity The Company paid a dividend of $0.50 per common share on both May 17, 2011 and August 11, 2011. For the nine months ended September 30, 2011, $124.9 million has been recorded as a distribution against retained earnings. Of this amount approximately $0.9 million has been recorded as a liability which will be paid to holders of nonvested stock upon the vesting of that stock. |
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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (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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Stock-Based Compensation
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Stock-Based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | 15. Stock-Based Compensation The total compensation cost relating both to stock options and nonvested stock is allocated as follows (amounts in thousands):
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments And Contingencies
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9 Months Ended |
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Sep. 30, 2011
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Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | 16. Commitments and Contingencies Wynn Macau Cotai Development. In September 2011, Palo Real Estate Company Limited and Wynn Resorts (Macau) S.A., each an indirect subsidiary of Wynn Macau Limited, formally accepted the terms and conditions of a draft land concession contract from the Macau government for approximately 51 acres of land in the Cotai area of Macau. Following government approval, the Company anticipates constructing a full scale integrated resort containing a casino, approximately 1,500 rooms, convention, retail, entertainment and food and beverage offerings on this land. The Company continues to finalize the project scope, timeline and budget. The initial term of the land concession contract is 25 years, and it may be renewed with government approval for successive periods. The total land premium payable, as described in the draft land concession contract, is approximately $193.4 million. This premium will be paid with a down payment of approximately $62.5 million and eight additional semi-annual payments of approximately $16.4 million each (which includes interest at 5%). As of September 30, 2011, the Company has recorded this obligation and a related long-term asset with $75.7 million included as a current liability and $103.6 million included as a long-term liability. Wynn Macau will also be required to make annual lease payments of approximately $0.8 million during the resort construction period and annual payments of approximately $1.1 million once the development is completed. 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 in and to any future development on the Cotai land noted above. The payment will be made within 15 days after the Macau government publishes the Company's rights to the Cotai land in the government's official gazette. With the Company's acceptance of the draft land concession contract noted above, the Company has accrued this $50 million obligation as a current liability included in other accrued liabilities as of September 30, 2011. 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. In March 2011, the court denied APC's motion to compel arbitration. APC has appealed. Management believes that APC's claim against the Company is without merit and intends to defend this matter vigorously. |
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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9 Months Ended |
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Sep. 30, 2011
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Income Taxes [Abstract] | |
Income Taxes | 17. Income Taxes For the three months ended September 30, 2011 and 2010, the Company recorded tax expense of $4.3 million and $9 million, respectively. For the nine months ended September 30, 2011 and 2010, the Company recorded tax expense of $11.6 million and $16 million, respectively. The Company's provision for income taxes is primarily comprised of increases in its domestic valuation allowance for U.S. foreign tax credits not expected to provide a U.S. tax benefit in future years, foreign taxes assessable on the dividends of Wynn Macau, S.A. and foreign tax provisions related to international marketing offices. Since June 30, 2010, the Company no longer considers its portion of the tax earnings and profits of Wynn Macau, Limited to be permanently invested. No additional U.S. tax provision has been made with respect to amounts not considered permanently invested as the Company anticipates that U.S. foreign tax credits should be sufficient to eliminate any U.S. tax provision relating to such repatriation. To the extent that book earnings exceed the tax earnings and profits of Wynn Macau, Limited, such excess is considered permanently invested. For the nine months ended September 30, 2011 and 2010, the Company recognized income tax benefits related to excess tax deductions associated with stock compensation costs of $10.5 million and $5.5 million, respectively. Effective September 6, 2006, Wynn Macau, S.A. received a 5-year exemption from Macau's 12% Complementary Tax on casino gaming profits. On November 30, 2010, Wynn Macau, S.A. received an additional 5-year exemption through December 31, 2015. Accordingly, the Company was exempted from the payment of approximately $22.8 million and $57.3 million in such taxes during the three and nine months ended September 30, 2011, respectively. For the three and nine months ended September 30, 2010, the Company was exempted from $13.2 million and $41.3 million, respectively, of such taxes. The Company's non-gaming profits remain subject to the Macau Complementary Tax and casino winnings remain subject to the Macau Special Gaming tax and other levies together totaling 39% in accordance with its concession agreement.
In June 2009, Wynn Macau, S.A. entered into an agreement with the Macau Special Administrative Region that provided for an annual payment of MOP 7.2 million (approximately $900,000 U.S. dollars) to the Macau Special Administrative Region as a payment in lieu of complementary tax otherwise due by the Wynn Macau S.A. shareholders on dividend distributions from gaming profits. This agreement covered dividend distributions of gaming profits earned in the years 2006 through 2010. On November 3, 2010, Wynn Macau, S.A. applied for a 5-year extension of this agreement for the years ending December 31, 2011 through 2015. On July 19, 2011 Wynn Macau, S.A. received notification that the 5-year extension had been ratified and that an annual payment of MOP 15.5 million (approximately $1.9 million U.S. dollars) would be due the Macau Special Administrative Region for each of the years 2011 through 2015. As a result of the 2011 shareholder dividend tax agreement, income taxes payable includes $1 million and $1.5 million accrued for the three and nine months ended September 30, 2011, respectively. For the three and nine months ended September 30, 2010, respectively, the Company accrued income taxes payable of $0.2 million and $0.7 million for amounts due under the 2009 shareholder dividend tax agreement. During the nine months ended September 30, 2011, Wynn Macau, S.A. received the results of the Macau Finance Bureau's examination of its 2006 and 2007 Macau Complementary Tax returns. During July 2011, Wynn Macau S.A. filed an appeal related to the examination's disallowance of certain deductions claimed in its 2006 Macau Complementary Tax Return. In August 2011, the 2006 Macau tax issues under appeal were resolved. Included in income taxes payable is $1.1 million for Macau Complementary tax payable resulting from the 2006 examination and appeal resolution, substantially all of which was accrued in prior years. As the result of the resolution of these Macau tax issues and the expiration of the statute of limitations for 2006 Macau Complementary tax assessments on December 31, 2011, it is reasonably possible that the total amount of unrecognized tax benefits will decrease during the next twelve months by $0 to $10.7 million. During October 2011, the IRS began an examination of the Company's 2010 U.S. income tax return. Since the examination is in its initial stages the Company is unable to determine if it will be concluded within the next twelve months. The Company believes that its liability for uncertain tax positions related to the period covered by this examination is adequate. |
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The entire disclosure for income taxes. Disclosures may 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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Segment Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | 18. Segment Information The Company monitors its operations and evaluates earnings by reviewing the assets and operations of its Las Vegas Operations and its Macau Operations. The Company's total assets by segment are as follows (amounts in thousands):
The Company's segment information for its results of operations are as follows (amounts in thousands):
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The entire disclosure for 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 percent 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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Subsequent Events
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Sep. 30, 2011
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Subsequent Events [Abstract] | |
Subsequent Events | 19. Subsequent Events On October 19, 2011, the Board of Directors of the Company declared a cash dividend of $0.50 per share, payable on November 16, 2011 to stockholders of record as of November 2, 2011. On November 1, 2011, the Board of Directors of the Company declared a cash dividend of $5.00 per share, payable on December 21, 2011 to stockholders of record as of November 23, 2011. |
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Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary Of Significant Accounting Policies (Policy)
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Summary Of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash And Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents are comprised of highly liquid investments with purchase maturities of three months or less and include both U.S. dollar-denominated and foreign currency-denominated securities. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents of $1.1 billion and $663.9 million at September 30, 2011 and December 31, 2010, respectively, were invested in time deposits, money market accounts, U.S. Treasuries and commercial paper. The Company utilized Level 1 inputs as described in Note 10 to determine fair value. |
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Investment Securities | Investment Securities Investment securities consist of short-term and long-term investments in domestic and foreign corporate debt securities and commercial paper. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Originally the Company's investments had been classified as held-to-maturity because the Company had the positive intent and ability to hold them to maturity. However, during the third quarter of 2011, due to the economic uncertainty in the global financial markets, the Company elected to change the classification of its investments from held-to-maturity to available-for-sale. In August 2011, the Company sold investments with a net carrying value of $30.1 million and realized a loss of $0.1 million. As of September 30, 2011, all remaining investments are classified as available-for-sale. These investments are reported at fair value, with unrealized gains and losses, net of tax, reported in other comprehensive income (loss). The Company utilized Level 1 inputs as described in Note 10 to determine fair value. Adjustments are made for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in interest income together with realized gains and losses and the stated interest on such securities. |
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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 September 30, 2011 and December 31, 2010, approximately 80% and 82%, 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 collectibility 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 allowance for doubtful accounts is maintained to reduce the Company's receivables to their estimated 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, 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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Revenue Recognition And Promotional Allowances | Revenue Recognition and Promotional Allowances 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 term. 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. The Company's casino revenues are reduced by discounts and 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 and then deducted as promotional allowances. The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (amounts in thousands):
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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 Condensed Consolidated Statements of Operations. For the three months ended September 30, 2011 and 2010, gaming taxes totaled approximately $472.9 million and $331.9 million, respectively. For the nine months ended September 30, 2011 and 2010, gaming taxes totaled approximately $1,383.7 million and $970.3 million, 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. For the three months ended September 30, 2011 and 2010, advertising costs totaled approximately $5.5 million and $4.7 million, respectively. For the nine months ended September 30, 2011 and 2010, advertising costs totaled approximately $12.9 million and $13.7 million, respectively. |
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Reclassifications | Reclassifications Certain amounts in the condensed consolidated financial statements for 2010 have been reclassified to be consistent with the current period presentation. These reclassifications had no effect on the previously reported net income (loss). |
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Disclosure of 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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- Definition
Disclosure of accounting policy for cash and cash equivalents, including the 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for 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 disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Gaming Taxes Policy [Text Block] No definition available.
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Reclassifications [Policy Text Block] No definition available.
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Summary Of Significant Accounting Policies (Tables)
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Summary Of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Estimated Cost Of Promotional Allowance |
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Summary Of Estimated Cost Of Promotional Allowance [Text Block] No definition available.
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Earnings Per Share (Tables)
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Schedule Of Shares Used In Calculation Of Earnings Per Share |
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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Comprehensive Income (Loss) (Tables)
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Comprehensive Income (Loss) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) |
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Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Receivables, Net (Tables)
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Receivables, Net [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Receivables, Net |
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Tabular disclosure of 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property And Equipment, Net (Tables)
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Schedule Of Property And Equipment |
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Tabular 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, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. No definition available.
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Investment Securities (Tables)
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Investment Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investments |
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Investments By Contractual Maturity |
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Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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Long-Term Debt (Tables)
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Long-Term Debt [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Long-Term Debt |
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Tabular disclosure of 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 entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Interest Rate Swaps (Tables)
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Interest Rate Swaps [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Interest Rate Swap Liabilities |
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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property Charges And Other (Tables)
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Property Charges And Other |
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Property Charges And Other [Table Text Block] No definition available.
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Stock-Based Compensation (Tables)
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Stock-Based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Total Compensation |
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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information (Tables)
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Sep. 30, 2011
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Segment Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Assets And Operations By Segment |
|
X | ||||||||||
- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Organization And Basis Of Presentation (Details)
|
1 Months Ended | |
---|---|---|
Oct. 31, 2009
|
Sep. 30, 2011
|
|
Organization And Basis Of Presentation [Abstract] | ||
Common shares of subsidiary sold | 1,437,500,000 | |
Percentage of subsidiary's common stock sold | 27.70% | |
Investments in owned joint ventures | 50.00% |
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
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, unless otherwise specified |
1 Months Ended | 3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|---|
Aug. 31, 2011
|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
Dec. 31, 2010
|
|
Summary Of Significant Accounting Policies [Abstract] | ||||||
Cash and cash equivalents | $ 1,100.0 | $ 1,100.0 | $ 663.9 | |||
Loss realized on sale of investments | 0.1 | |||||
Carrying value of investments sold, net | 30.1 | |||||
Percentage of credit markers due from customers residing outside of the United States | 80.00% | 80.00% | 82.00% | |||
Gaming tax expense | 472.9 | 331.9 | 1,383.7 | 970.3 | ||
Total advertising costs | $ 5.5 | $ 4.7 | $ 12.9 | $ 13.7 |
X | ||||||||||
- Details
|
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
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 are not generally reported as part of unrestricted cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For any sales of securities categorized as held-to-maturity, this item represents the net carrying amount of the sold security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gain (loss) realized on the sale of held-to-maturity securities disposed of during the period. Additionally, this item may include, if not separately presented, any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt securities which are being or have been recognized in earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gaming tax expense No definition available.
|
X | ||||||||||
- Definition
Percentage of credit markers due from customers residing outside of the United States No definition available.
|
Summary Of Significant Accounting Policies (Summary Of Estimated Cost Of Promotional Allowance) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Schedule Of Significant Accounting Policies [Line Items] | ||||
Promotional allowances primarily included in casino expenses | $ 43,624 | $ 41,197 | $ 129,229 | $ 122,211 |
Rooms [Member]
|
||||
Schedule Of Significant Accounting Policies [Line Items] | ||||
Promotional allowances primarily included in casino expenses | 13,080 | 12,525 | 39,169 | 37,987 |
Food And Beverage [Member]
|
||||
Schedule Of Significant Accounting Policies [Line Items] | ||||
Promotional allowances primarily included in casino expenses | 26,356 | 23,092 | 77,551 | 68,205 |
Entertainment, Retail And Other [Member]
|
||||
Schedule Of Significant Accounting Policies [Line Items] | ||||
Promotional allowances primarily included in casino expenses | $ 4,188 | $ 5,580 | $ 12,509 | $ 16,019 |
X | ||||||||||
- Definition
Promotional allowances primarily included in casino expense. No definition available.
|
X | ||||||||||
- Details
|
Earnings Per Share (Narrative) (Details)
|
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Earnings Per Share [Abstract] | ||||
Stock options excluded from calculation of diluted EPS | 25,200 | 1,260,000 | 610,200 | 1,269,000 |
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Earnings Per Share (Schedule Of Shares Used In Calculation Of Earnings Per Share) (Details)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Earnings Per Share [Abstract] | ||||
Weighted average common shares outstanding (used in calculation of basic earnings per share) | 124,176 | 122,771 | 123,969 | 122,569 |
Potential dilution from the assumed exercise of stock options and nonvested stock | 1,684 | 1,706 | 995 | |
Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share) | 125,860 | 122,771 | 125,675 | 123,564 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Comprehensive Income (Loss) (Comprehensive Income (Loss)) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Comprehensive Income (Loss) [Abstract] | ||||
Net income (loss) | $ 185,185 | $ (2,054) | $ 566,851 | $ 144,722 |
Currency translation adjustment | (2,433) | 4,149 | (2,389) | 628 |
Net unrealized loss on investments | (2,619) | (2,619) | ||
Total comprehensive income | 180,133 | 2,095 | 561,843 | 145,350 |
Less: Comprehensive income attributable to noncontrolling interests | (56,858) | (32,603) | (142,701) | (99,011) |
Comprehensive income (loss) attributable to Wynn Resorts | $ 123,275 | $ (30,508) | $ 419,142 | $ 46,339 |
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 reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes 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 | ||||||||||
- Details
|
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 noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, 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
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
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting 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
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Disclosure Of Cash Flow Information (Details) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | |
---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Supplemental Disclosure Of Cash Flow Information [Abstract] | ||
Interest paid | $ 177.2 | $ 130.9 |
Interest capitalized | 0 | 7.2 |
Change in construction payables and retention | $ 16.8 | $ (20.0) |
X | ||||||||||
- Definition
The amount of cash paid during the current period for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Change in Property and Equipment Included in Accounts and Construction Payables No definition available.
|
Receivables, Net (Summary Of Receivables, Net) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2011
|
Dec. 31, 2010
|
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | $ 310,719 | $ 301,555 |
Less: allowance for doubtful accounts | (120,373) | (114,091) |
Net receivables | 190,346 | 187,464 |
Casino [Member]
|
||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | 258,176 | 257,951 |
Hotel [Member]
|
||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | 15,946 | 17,851 |
Retail Leases And Other [Member]
|
||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | $ 36,597 | $ 25,753 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amounts due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- 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
|
Property And Equipment, Net (Schedule Of Property And Equipment, Net) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2011
|
Dec. 31, 2010
|
---|---|---|
Property And Equipment, Net [Abstract] | ||
Land and improvements | $ 733,022 | $ 731,810 |
Buildings and improvements | 3,762,832 | 3,735,633 |
Airplanes | 77,436 | 77,421 |
Furniture, fixtures and equipment | 1,648,492 | 1,647,424 |
Leasehold interest in land | 85,429 | 85,545 |
Construction in progress | 19,873 | 22,901 |
Property and equipment, gross | 6,327,084 | 6,300,734 |
Less: accumulated depreciation | (1,640,057) | (1,379,475) |
Property and equipment, net | $ 4,687,027 | $ 4,921,259 |
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
Gross 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
Gross amount, at the balance sheet date, of long-lived assets 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
Gross amount, at the balance sheet date, of long-lived, depreciable assets 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 as of the balance sheet date of real estate held for productive use. This excludes land held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount, at the balance sheet date, of long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. 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, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Airplanes, gross No definition available.
|
X | ||||||||||
- Definition
Leasehold interest in land, gross No definition available.
|
X | ||||||||||
- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
X | ||||||||||
- Definition
For any transfer of securities categorized as held-to-maturity, this item represents the net carrying amount of the transferred security to another category of investments in debt and equity securities (trading or available-for-sale). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the unrealized gain (loss) recognized in other comprehensive income (a separate component of shareholders' equity) as a result of securities categorized as held-to-maturity being transferred to the available-for-sale securities category. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Investment Securities (Investments By Contractual Maturity) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2011
|
---|---|
Investment Securities [Abstract] | |
Due in one year or less, Amortized Cost | $ 134,718 |
Due after one year through three years, Amortized Cost | 108,401 |
Available-for-sale debt securities, Amortized Cost | 243,119 |
Due in one year or less, Fair value | 134,419 |
Due after one year through three years, Fair value | 106,081 |
Available-for-sale debt securities, Fair value | $ 240,500 |
X | ||||||||||
- Definition
This item represents the total of all debt securities grouped by maturity dates, at cost, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments, as defined), and fair value hedge accounting adjustments, if any, which are classified neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments, as defined), and fair value hedge accounting adjustments, if any, which are expected to mature within one year of the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature within one year of the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For an unclassified balance sheet, total of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Available for sale securities debt maturities after one through three years amortized cost. No definition available.
|
X | ||||||||||
- Definition
Available for sale securities debt maturities after one through three years fair value No definition available.
|
Long-Term Debt (Summary Of Long-Term Debt) (Details) (USD $)
|
9 Months Ended | |
---|---|---|
Sep. 30, 2011
|
Dec. 31, 2010
|
|
Debt Instrument [Line Items] | ||
Long-term debt total | $ 3,103,931,000 | $ 3,267,529,000 |
Current portion of long-term debt | (170,565,000) | (2,675,000) |
Non current portion of long-term debt | 2,933,366,000 | 3,264,854,000 |
7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017 [Member]
|
||
Debt Instrument [Line Items] | ||
Debt instrument, interest rate | 7.875% | |
Long term debt due date | Nov. 01, 2017 | |
Original issue discount | 8,862,000 | 9,679,000 |
Long-term debt total | 491,138,000 | 490,321,000 |
7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020 [Member]
|
||
Debt Instrument [Line Items] | ||
Debt instrument, interest rate | 7.875% | |
Long term debt due date | May 01, 2020 | |
Original issue discount | 1,827,000 | 1,933,000 |
Long-term debt total | 350,183,000 | 350,077,000 |
7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020 [Member]
|
||
Debt Instrument [Line Items] | ||
Debt instrument, interest rate | 7.75% | |
Long term debt due date | Aug. 15, 2020 | |
Long-term debt total | 1,320,000,000 | 1,320,000,000 |
Wynn Las Vegas Revolving Credit Facility, Due July 15, 2013 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR | 3.00% | |
Long term debt due date | Jul. 15, 2013 | |
Long-term debt total | 3,868,000 | |
Wynn Las Vegas Revolving Credit Facility, Due July 17, 2015 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR | 3.00% | |
Long term debt due date | Jul. 17, 2015 | |
Long-term debt total | 16,187,000 | |
Wynn Las Vegas Term Loan Facility, Due August 15, 2013 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR | 1.875% | |
Long term debt due date | Aug. 15, 2013 | |
Long-term debt total | 40,263,000 | 44,281,000 |
Wynn Las Vegas Term Loan Facility, Due August 17, 2015 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR | 3.00% | |
Long term debt due date | Aug. 17, 2015 | |
Long-term debt total | 330,605,000 | 330,605,000 |
Wynn Macau Senior Term Loan Facilities, Due June 27, 2014 [Member]
|
||
Debt Instrument [Line Items] | ||
Long term debt due date | Jun. 27, 2014 | |
Long-term debt total | 513,292,000 | 550,900,000 |
Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR or HIBOR | 1.25% | |
Long term debt due date | Jun. 27, 2012 | |
Long-term debt total | 100,165,000 | |
$42 Million Note Payable, Due April 1, 2017 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR | 1.25% | |
Long term debt due date | Apr. 01, 2017 | |
Long-term debt total | 35,700,000 | 36,750,000 |
Debt instrument, stated amount | 42,000,000 | |
$32.5 Million Note Payable, Due August 10, 2012 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR | 1.15% | |
Long term debt due date | Aug. 10, 2012 | |
Long-term debt total | 22,750,000 | 24,375,000 |
Debt instrument, stated amount | $ 32,500,000 | |
Maximum [Member] | Wynn Macau Senior Term Loan Facilities, Due June 27, 2014 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR or HIBOR | 1.75% | |
Minimum [Member] | Wynn Macau Senior Term Loan Facilities, Due June 27, 2014 [Member]
|
||
Debt Instrument [Line Items] | ||
Interest in addition to LIBOR or HIBOR | 1.25% |
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
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.
|
X | ||||||||||
- Definition
Debt Instrument, Stated Amount No definition available.
|
Long-Term Debt (Wynn Las Vegas Credit Facilities) (Details) (Wynn Las Vegas Revolver [Member], USD $)
|
Sep. 30, 2011
|
---|---|
Wynn Las Vegas Revolver [Member]
|
|
Debt Instrument [Line Items] | |
Revolving credit facility outstanding | $ 0 |
Letters of credit outstanding | 19,500,000 |
Available credit facility | $ 347,500,000 |
X | ||||||||||
- Details
|
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
Letters of credit outstanding against credit facility. No definition available.
|
Long-Term Debt (Wynn Macau Credit Facilities) (Details) (Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012 [Member], USD $)
|
Sep. 30, 2011
|
---|---|
Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012 [Member]
|
|
Debt Instrument [Line Items] | |
Revolving credit facility outstanding | $ 0 |
Available credit facility | $ 1,000,000,000 |
X | ||||||||||
- Details
|
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
|
Long-Term Debt (Fair Value Of Long-Term Debt) (Details) (USD $)
In Billions, unless otherwise specified |
9 Months Ended | 12 Months Ended |
---|---|---|
Sep. 30, 2011
|
Dec. 31, 2010
|
|
Long-Term Debt [Abstract] | ||
Debt instrument net book value | $ 2.2 | $ 2.2 |
Fair value of debt instrument | 2.3 | 2.3 |
Other debt instruments, net book value | 1.0 | 1.1 |
Other debt instruments, fair value | $ 1.0 | $ 1.1 |
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Net book value of 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.
|
Interest Rate Swaps (Narrative) (Details)
|
9 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011
USD ($)
|
Dec. 31, 2010
USD ($)
|
Sep. 30, 2011
Interest Rate Swaps [Member]
USD ($)
|
Dec. 31, 2010
Interest Rate Swaps [Member]
USD ($)
|
Sep. 30, 2011
Wynn Las Vegas Swap [Member]
USD ($)
|
Sep. 30, 2011
Wynn Macau Swap [Member]
USD ($)
|
Sep. 30, 2011
Wynn Macau Revolver [Member]
USD ($)
|
Sep. 30, 2011
Wynn Macau Revolver [Member]
HKD
|
Sep. 30, 2011
HK [Member]
Wynn Macau Swap [Member]
USD ($)
|
Sep. 30, 2011
HK [Member]
Wynn Macau Swap [Member]
HKD
|
|
Derivatives, Fair Value [Line Items] | ||||||||||
Other accrued expenses | $ 106,506,000 | $ 32,476,000 | $ 4,000,000 | $ 5,900,000 | ||||||
Other long-term liabilities | 128,471,000 | 64,248,000 | 6,000,000 | 15,600,000 | ||||||
Number of interest rate swap agreements | 2 | 1 | 1 | |||||||
Interest rate swap fixed interest rate | 2.485% | 3.632% | 2.15% | 2.15% | 3.39% | 3.39% | ||||
Interest rate swap notional amount | $ 250,000,000 | $ 153,800,000 | $ 300,000,000 | 2,300,000,000 | $ 127,000,000 | 991,600,000 | ||||
Interest rate swap interest rate | 5.485% | 3.40% | 3.40% | 4.64% | 4.64% | |||||
Interest rate swap interest rate, minimum | 4.88% | |||||||||
Interest rate swap interest rate, maximum | 5.38% | |||||||||
Interest rate swap maturity date | November 2012 | June 2012 | June 2012 |
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 | ||||||||||
- Details
|
X | ||||||||||
- Definition
Fixed interest rate that will be received or paid upon exercise of the interest rate swaption contract. No definition available.
|
X | ||||||||||
- Definition
Aggregate notional amount of interest rate derivatives, which relates to the currency amount specified in the interest rate derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of interest rate derivative instruments held by the entity at the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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. 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
Interest rate swap maturity date. No definition available.
|
Interest Rate Swaps (Schedule Of Interest Rate Swap Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2011
|
Dec. 31, 2010
|
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Interest rate swap liabilities, fair value | $ 9,966 | $ 21,449 |
Wynn Las Vegas Swap [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Interest rate swap liabilities, fair value | 5,962 | 8,457 |
Wynn Macau Swap [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Interest rate swap liabilities, fair value | $ 4,004 | $ 12,992 |
X | ||||||||||
- Details
|
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 (Details) (USD $)
|
9 Months Ended | |
---|---|---|
Sep. 30, 2011
|
Dec. 31, 2010
|
|
Related Party Transaction [Line Items] | ||
Amount due to officers and directors | $ 2,000,000 | $ 300,000 |
Notice required for lease termination at Villa Suite, days | 90 | |
Lease termination date | December 31, 2010 | |
Extended lease termination date | March 31, 2011 | |
Surname rights agreement expiration date | October 24, 2017 | |
EW Lease [Member]
|
||
Related Party Transaction [Line Items] | ||
Rental value | 350,000 | |
SW Lease [Member]
|
||
Related Party Transaction [Line Items] | ||
Rental value | $ 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
The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Extended Lease Termination Date No definition available.
|
X | ||||||||||
- Definition
Lease Termination Date No definition available.
|
X | ||||||||||
- Definition
Notice required for lease termination at Villa Suite, days No definition available.
|
X | ||||||||||
- Definition
Surname Rights Agreement, Expiration Date No definition available.
|
Property Charges And Other (Narrative) (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 9 Months Ended | |
---|---|---|---|---|
May 11, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Property Charges And Other [Abstract] | ||||
Contribution made to University of Macau Development Foundation | $ 25,000,000 | |||
Donation commitments, yearly payable contributions for 2012 through 2022 | 10,000,000 | |||
Total donations | 135,000,000 | |||
Contract termination | $ 14,949,000 | $ 14,949,000 |
X | ||||||||||
- Definition
Donation Commitments, Yearly Payable Contributions After Two Thousand Twelve Through Two Thousand Twenty Two No definition available.
|
X | ||||||||||
- Definition
Donation Payments Made During Period No definition available.
|
X | ||||||||||
- Definition
Payment On Contract Termination No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total Donations Commitments No definition available.
|
Property Charges And Other (Property Charges And Other) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Property Charges And Other [Abstract] | ||||
Donation to University of Macau | $ 1,033 | $ 108,516 | ||
Contract termination | 14,949 | 14,949 | ||
Loss on show cancellation | 1,378 | |||
Net loss on assets abandoned, retired for remodel or sold | 8,629 | 2,578 | 14,176 | 7,425 |
Total property charges and other | $ 9,662 | $ 17,527 | $ 124,070 | $ 22,374 |
X | ||||||||||
- Definition
Donation payments made or accrued during the period. No definition available.
|
X | ||||||||||
- Definition
Loss On Show Cancellation No definition available.
|
X | ||||||||||
- Definition
Net Loss On Assets Abandoned, Retired For Remodel Or Sales No definition available.
|
X | ||||||||||
- Definition
Payment On Contract Termination 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, expenses associated with business termination activities and other expenses. No definition available.
|
X | ||||||||||
- Details
|
Noncontrolling Interest (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
1 Months Ended | 3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|---|
Oct. 31, 2009
|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|
Noncontrolling Interest [Abstract] | |||||
Subsidiary common stock, shares issued | 1,437,500,000 | ||||
Percentage of issuance of common stock | 27.70% | ||||
Net income, noncontrolling interest | $ 58,122 | $ 31,454 | $ 143,953 | $ 98,837 |
X | ||||||||||
- Definition
The portion of net Income or 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 | ||||||||||
- Details
|
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 issuance of common stock No definition available.
|
Stockholders' Equity (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
0 Months Ended | 7 Months Ended | 9 Months Ended |
---|---|---|---|
May 17, 2011
|
Aug. 11, 2011
|
Sep. 30, 2011
|
|
Stockholders' Equity [Abstract] | |||
Dividends paid per common share | $ 0.50 | $ 0.5 | |
Distribution against retained earnings | $ 124.9 | ||
Distribution recorded as liability for nonvested stock upon the vesting of that stock | $ 0.9 |
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
Equity impact of cash dividends declared by an entity during the period for all classes of stock (common, preferred, etc.). This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Equity impact of paid-in-kind dividends declared by an entity during the period and applicable to holders of share-based compensation, such as non-vested shares, stock options, or restricted stock units. This element includes paid and unpaid dividends declared during the period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Costs and payments related to employee benefits and equity-based compensation, such as pension expense and contributions, other postretirement benefits expense and payments, stock or unit options expense, and amortization of restricted stock or unit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, 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 | ||||||||||
- Details
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, 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
|
Commitments And Contingencies (Details) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | 7 Months Ended | ||||
---|---|---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2011
Cotai Development [Member]
|
Aug. 01, 2008
Cotai Land Agreement [Member]
|
May 03, 2010
Pending or Threatened Litigation [Member]
|
Sep. 30, 2011
Pre Construction Completion Payments [Member]
|
Sep. 30, 2011
Post Construction Completion Payments [Member]
|
|
Commitments And Contingencies [Line Items] | ||||||
Number of room included in full scale integrated resort | 1,500 | |||||
Quantity of land acquired, acres | 51 | |||||
Total land premium payable | $ 193.4 | |||||
Land concession contract period | 25 | |||||
Payment under land concession contract | 50 | |||||
Down payment of premium | 62.5 | |||||
Individual semi-annual payments of premium (8 total) | 16.4 | |||||
Rate of interest on premium | 5.00% | |||||
Land premium payment obligation, current | 75.7 | |||||
Land premium payment obligation, noncurrent | 103.6 | |||||
Annual lease payments | 0.8 | 1.1 | ||||
Contract payment accrued | 50 | |||||
Loss contingency, estimate of possible loss | $ 32 |
X | ||||||||||
- Definition
The capitalized costs incurred during the period (excluded from amortization) to purchase, lease or otherwise acquire an unproved 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
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 total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Contract Payment Accrued No definition available.
|
X | ||||||||||
- Definition
Down payment of premium No definition available.
|
X | ||||||||||
- Definition
Land concession contract period No definition available.
|
X | ||||||||||
- Definition
Land Premium Payment Obligation Current No definition available.
|
X | ||||||||||
- Definition
Land Premium Payment Obligation Non Current No definition available.
|
X | ||||||||||
- Definition
Number of room included in full scale integrated resort No definition available.
|
X | ||||||||||
- Definition
Quantity of land acquired No definition available.
|
X | ||||||||||
- Definition
Rate Of Interest On Premium No definition available.
|
X | ||||||||||
- Definition
Semi Annual Payment Of Premium No definition available.
|
X | ||||||||||
- Definition
Total land premium payable No definition available.
|
Income Taxes (Details)
|
1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2009
USD ($)
|
Jun. 30, 2009
MOP
|
Sep. 30, 2011
USD ($)
|
Sep. 30, 2010
USD ($)
|
Sep. 30, 2011
USD ($)
years
|
Sep. 30, 2010
USD ($)
|
Sep. 30, 2011
MOP
|
Sep. 30, 2011
Maximum [Member]
USD ($)
|
Sep. 30, 2011
Minimum [Member]
USD ($)
|
|
Income Taxes [Line Items] | |||||||||
Income tax expense (provision) | $ 4,300,000 | $ 9,000,000 | $ 11,600,000 | $ 16,000,000 | |||||
Excess tax deductions associated with stock compensation costs | 10,500,000 | 5,500,000 | |||||||
Complementary tax rate | 12.00% | ||||||||
Amount of complementary tax exemption | 22,800,000 | 13,200,000 | 57,300,000 | 41,300,000 | |||||
Gaming tax | 39.00% | ||||||||
Annual Macau payment in lieu of complementary tax | 900,000 | 7,200,000 | |||||||
Annual Macau complementary tax to be paid | 1,900,000 | 1,900,000 | 15,500,000 | ||||||
Length of additional complementary tax exemption requested, years | 5 | ||||||||
Income taxes payable | 1,000,000 | 200,000 | 1,500,000 | 700,000 | |||||
Macau Complementary tax payable | 1,100,000 | 1,100,000 | |||||||
Decrease in unrecognized tax benefits | $ 10,700,000 | $ 0 |
X | ||||||||||
- Definition
The amount of the additional liability or refund received or expected based on a final settlement with a taxing authority. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or 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
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X | ||||||||||
- Definition
The portion of the difference between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or 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 equity-based compensation costs in accordance with generally accepted accounting principles and enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period of all taxes owed but not paid, including income, property and other taxes. No definition available.
|
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
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X | ||||||||||
- Definition
Amount of complementary tax exemption No definition available.
|
X | ||||||||||
- Definition
Annual Complementary Tax Obligation No definition available.
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X | ||||||||||
- Definition
Annual payment in lieu of complementary tax No definition available.
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X | ||||||||||
- Definition
Complementary Tax Rate No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Length Of Additional Complementary Tax Exemption Requested Years No definition available.
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X | ||||||||||
- Definition
Special Gaming Tax On Gross Revenue No definition available.
|
Segment Information (Summary Of Assets By Segment) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2011
|
Dec. 31, 2010
|
---|---|---|
Segment Reporting Information [Line Items] | ||
Assets | $ 7,428,974 | $ 6,674,497 |
Wynn Las Vegas [Member]
|
||
Segment Reporting Information [Line Items] | ||
Assets | 4,020,168 | 4,108,516 |
Wynn Macau [Member]
|
||
Segment Reporting Information [Line Items] | ||
Assets | 2,624,187 | 1,777,119 |
Corporate and Other [Member]
|
||
Segment Reporting Information [Line Items] | ||
Assets | $ 784,619 | $ 788,862 |
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
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X | ||||||||||
- Details
|
Segment Information (Summary Of Operations By Segment) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
|||||||
Segment Reporting Information [Line Items] | ||||||||||
Net revenues | $ 1,298,304 | $ 1,005,949 | $ 3,925,929 | $ 2,947,510 | ||||||
Adjusted Property EBITDA | 381,094 | [1] | 274,529 | [1] | 1,233,093 | [1] | 797,798 | [1] | ||
Pre-opening costs | 85 | 9,071 | ||||||||
Depreciation and amortization | 100,522 | 99,341 | 303,921 | 305,259 | ||||||
Property charges and other | 9,662 | 17,527 | 124,070 | 22,374 | ||||||
Corporate expenses and other | 30,689 | 25,515 | 70,426 | 65,533 | ||||||
Equity in income from unconsolidated affiliates | 376 | 112 | 1,242 | 618 | ||||||
Total other operating costs and expenses | 141,249 | 142,580 | 499,659 | 402,855 | ||||||
Operating income | 239,845 | 131,949 | 733,434 | 394,943 | ||||||
Interest income | 2,663 | 953 | 4,639 | 1,812 | ||||||
Interest expense, net of capitalized interest | (57,462) | (60,341) | (173,956) | (163,200) | ||||||
Increase (decrease) in swap fair value | 4,118 | (352) | 11,483 | (5,629) | ||||||
Loss on extinguishment of debt/exchange offer | (64,215) | (67,367) | ||||||||
Equity in income from unconsolidated affiliates | 376 | 112 | 1,242 | 618 | ||||||
Other | (85) | (1,141) | 1,616 | (446) | ||||||
Other income (expense), net | (50,390) | (124,984) | (154,976) | (234,212) | ||||||
Income before income taxes | 189,455 | 6,965 | 578,458 | 160,731 | ||||||
Provision for income taxes | (4,270) | (9,019) | (11,607) | (16,009) | ||||||
Net income (loss) | 185,185 | (2,054) | 566,851 | 144,722 | ||||||
Wynn Las Vegas [Member]
|
||||||||||
Segment Reporting Information [Line Items] | ||||||||||
Net revenues | 346,936 | 334,524 | 1,132,374 | 971,026 | ||||||
Adjusted Property EBITDA | 85,134 | [1] | 76,521 | [1] | 349,954 | [1] | 201,952 | [1] | ||
Wynn Macau [Member]
|
||||||||||
Segment Reporting Information [Line Items] | ||||||||||
Net revenues | 951,368 | 671,425 | 2,793,555 | 1,976,484 | ||||||
Adjusted Property EBITDA | $ 295,960 | [1] | $ 198,008 | [1] | $ 883,139 | [1] | $ 595,846 | [1] | ||
|
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. 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
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. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or 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 aggregate amount of income or 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 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 income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. 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. 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
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
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 noncontrolling 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, expenses associated with business termination activities and other expenses. No definition available.
|
Subsequent Events (Details) (USD $)
|
0 Months Ended | |
---|---|---|
Nov. 01, 2011
|
Oct. 19, 2011
|
|
Subsequent Event [Line Items] | ||
Dividends payable, date to be paid | Dec. 21, 2011 | Nov. 16, 2011 |
Dividend payable, date declared | Nov. 01, 2011 | Oct. 19, 2011 |
Dividend payable, record date | Nov. 23, 2011 | Nov. 02, 2011 |
Dividend Declared [Member]
|
||
Subsequent Event [Line Items] | ||
Declared cash dividend | $ 5.00 | $ 0.50 |
X | ||||||||||
- Definition
The day, month, and year (YYYY-MM-DD) that the dividend declared as of or prior to the financial reporting date will be paid in the subsequent 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
The day, month and year (YYYY-MM-DD) that the dividend to be paid was declared. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The date as of when a holder must own the stock to be entitled to the dividend. The ex-dividend date is generally 3 days before the record date. No definition available.
|
X | ||||||||||
- Details
|