View Filing Data

Print Document View Excel Document

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2014	Feb. 13, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	WYNN
Entity Registrant Name	WYNN RESORTS LTD
Entity Central Index Key	0001174922
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		101,525,639
Entity Public Float			$ 16,800,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 2,182,164	$ 2,435,041
Investment securities	240,140	174,399
Receivables, net	237,957	241,932
Inventories	72,223	74,739
Prepaid expenses and other	49,847	42,703
Total current assets	2,782,331	2,968,814
Property and equipment, net	5,855,842	4,934,449
Restricted cash	977	199,936
Investment securities	10,173	79,989
Intangible assets, net	112,367	30,767
Deferred financing costs, net	84,413	67,926
Deposits and other assets	212,515	91,001
Investment in unconsolidated affiliates	4,243	4,148
Total assets	9,062,861	8,377,030
Current liabilities:
Accounts and construction payables	303,284	272,861
Current portion of long-term debt	0	1,050
Current portion of land concession obligation	30,814	29,341
Customer deposits	548,818	704,401
Gaming taxes payable	137,269	205,260
Accrued compensation and benefits	113,228	83,769
Accrued interest	107,318	101,442
Other accrued liabilities	67,587	53,375
Deferred income taxes, net	4,847	4,035
Total current liabilities	1,313,165	1,455,534
Long-term debt	7,345,262	6,586,518
Land concession obligation	15,987	46,819
Other long-term liabilities	152,131	141,465
Deferred income taxes, net	25,225	14,343
Total liabilities	8,851,770	8,244,679
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, par value $0.01; 400,000,000 shares authorized; 114,426,960 and 114,170,493 shares issued; 101,439,297 and 101,192,408 shares outstanding	1,144	1,142
Treasury stock, at cost; 12,987,663 and 12,978,085 shares	(1,145,481)	(1,143,419)
Additional paid-in capital	948,566	888,727
Accumulated other comprehensive income	2,505	2,913
Retained earnings	164,487	66,130
Total Wynn Resorts, Limited stockholders’ deficit	(28,779)	(184,507)
Noncontrolling interest	239,870	316,858
Total equity	211,091	132,351
Total liabilities and stockholders' equity	$ 9,062,861	$ 8,377,030

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [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	114,426,960	114,170,493
Common stock, shares outstanding	101,439,297	101,192,408
Treasury stock, shares	12,987,663	12,978,085

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating revenues:
Casino	$ 4,274,221	$ 4,490,637	$ 4,034,759
Rooms	542,762	492,230	479,983
Food and beverage	604,701	586,672	588,437
Entertainment, retail and other	401,181	418,705	417,209
Gross revenues	5,822,865	5,988,244	5,520,388
Less: promotional allowances	(389,204)	(367,308)	(366,104)
Net revenues	5,433,661	5,620,936	5,154,284
Operating costs and expenses:
Casino	2,667,013	2,846,489	2,626,822
Rooms	148,338	133,503	126,527
Food and beverage	337,206	323,573	308,394
Entertainment, retail and other	163,754	175,257	189,832
General and administrative	492,464	448,788	441,699
Provision for doubtful accounts	3,906	11,877	18,091
Pre-opening costs	30,146	3,169	466
Depreciation and amortization	314,119	371,051	373,199
Property charges and other	10,437	17,138	39,978
Total operating costs and expenses	4,167,383	4,330,845	4,125,008
Operating income	1,266,278	1,290,091	1,029,276
Other income (expense):
Interest income	20,441	15,713	12,543
Interest expense, net of amounts capitalized	(315,062)	(299,022)	(288,759)
(Decrease) increase in swap fair value	(4,393)	14,235	991
Loss on extinguishment of debt	(9,569)	(40,435)	(25,151)
Equity in income from unconsolidated affiliates	1,349	1,085	1,086
Other	(182)	4,856	3,012
Other income (expense), net	(307,416)	(303,568)	(296,278)
Income before income taxes	958,862	986,523	732,998
Benefit (provision) for income taxes	3,782	17,634	(4,299)
Net income	962,644	1,004,157	728,699
Less: net income attributable to noncontrolling interest	(231,090)	(275,505)	(226,663)
Net income attributable to Wynn Resorts, Limited	$ 731,554	$ 728,652	$ 502,036
Net income attributable to Wynn Resorts, Limited:
Basic (in usd per share)	$ 7.25	$ 7.25	$ 4.87
Diluted (in usd per share)	$ 7.18	$ 7.17	$ 4.82
Weighted average common shares outstanding:
Basic (in shares)	100,927	100,540	103,092
Diluted (in shares)	101,931	101,641	104,249

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income	$ 962,644	$ 1,004,157	$ 728,699
Other comprehensive income:
Foreign currency translation adjustments, net of tax	(282)	(2,106)	2,749
Unrealized (loss) gain on available-for-sale securities, net of tax	(195)	319	1,780
Total comprehensive income	962,167	1,002,370	733,228
Less: comprehensive income attributable to noncontrolling interest	(231,021)	(274,982)	(227,855)
Comprehensive income attributable to Wynn Resorts, Limited	$ 731,146	$ 727,388	$ 505,373

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Total Wynn Resorts, Ltd Stockholders' Equity (Deficit)	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2011			125,080,998
Beginning balance at Dec. 31, 2011	$ 2,223,454	$ 2,089,022	$ 1,379	$ (1,127,036)	$ 3,177,471	$ 840	$ 36,368	$ 134,432
Stock redemption (in shares)			(24,549,222)
Stock redemption	(1,936,443)	(1,936,443)	$ (245)		(1,936,198)
Net income	728,699	502,036					502,036	226,663
Currency translation adjustment	2,749	1,987				1,987		762
Net unrealized gain (loss) on investments	1,780	1,350				1,350		430
Exercised			332,576
Exercise of stock options	$ 15,583	15,583	$ 3		15,580
Cancellation of restricted stock (in shares)			(31,500)
Shares repurchased by the company and held as treasury shares (in shares)	(7,640)		(7,640)
Shares repurchased by the company and held as treasury shares	$ (911)	(911)		(911)
Issuance of restricted stock (in shares)			41,500
Shares of subsidiary repurchased for share award plan	0
Cash dividends declared	(956,359)	(956,359)			(462,730)		(493,629)
Excess tax benefits from stock-based compensation	5,537	5,537			5,537
Stock-based compensation	19,843	19,161			19,161			682
Ending balance (in shares) at Dec. 31, 2012			100,866,712
Ending balance at Dec. 31, 2012	103,932	(259,037)	$ 1,137	(1,127,947)	818,821	4,177	44,775	362,969
Net income	1,004,157	728,652					728,652	275,505
Currency translation adjustment	(2,106)	(1,522)				(1,522)		(584)
Net unrealized gain (loss) on investments	319	258				258		61
Exercised			383,151
Exercise of stock options	$ 20,436	20,436	$ 5		20,431
Cancellation of restricted stock (in shares)			(78,500)
Cancellation of restricted stock			$ (1)		1
Shares repurchased by the company and held as treasury shares (in shares)	(114,355)		(114,355)
Shares repurchased by the company and held as treasury shares	$ (15,472)	(15,472)		(15,472)
Issuance of restricted stock (in shares)			135,400
Issuance of restricted stock			$ 1		(1)
Shares of subsidiary repurchased for share award plan	0
Cash dividends declared	(1,029,122)	(706,817)			480		(707,297)	(322,305)
Excess tax benefits from stock-based compensation	10,474	10,474			10,474
Stock-based compensation	39,733	38,521			38,521			1,212
Ending balance (in shares) at Dec. 31, 2013			101,192,408
Ending balance at Dec. 31, 2013	$ 132,351	(184,507)	$ 1,142	(1,143,419)	888,727	2,913	66,130	316,858
Beginning balance (in shares) at Dec. 31, 2013	101,192,408
Net income	$ 962,644	731,554					731,554	231,090
Currency translation adjustment	(282)	(203)				(203)		(79)
Net unrealized gain (loss) on investments	(195)	(205)				(205)		10
Exercised			211,133
Exercise of stock options	$ 11,859	11,645	$ 2		11,643			214
Cancellation of restricted stock (in shares)			(9,166)
Cancellation of restricted stock					0
Shares repurchased by the company and held as treasury shares (in shares)	(9,578)		(9,578)
Shares repurchased by the company and held as treasury shares	$ (2,062)	(2,062)		(2,062)
Issuance of restricted stock (in shares)			54,500
Issuance of restricted stock					0
Shares of subsidiary repurchased for share award plan	(2,081)							(2,081)
Cash dividends declared	(945,425)	(633,138)			59		(633,197)	(312,287)
Excess tax benefits from stock-based compensation	9,376	9,376			9,376
Stock-based compensation	44,906	38,761			38,761			6,145
Ending balance (in shares) at Dec. 31, 2014			101,439,297
Ending balance at Dec. 31, 2014	$ 211,091	$ (28,779)	$ 1,144	$ (1,145,481)	$ 948,566	$ 2,505	$ 164,487	$ 239,870

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 962,644	$ 1,004,157	$ 728,699
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	314,119	371,051	373,199
Deferred income taxes	(8,086)	(19,826)	(3,655)
Stock-based compensation	39,196	39,537	19,648
Excess tax benefits from stock-based compensation	(9,339)	(12,332)	(5,253)
Amortization and write-offs of deferred financing costs and other	36,649	21,453	23,965
Loss on extinguishment of debt	9,569	40,435	25,151
Provision for doubtful accounts	3,906	11,877	18,091
Property charges and other	10,466	6,950	36,714
Equity in income of unconsolidated affiliates, net of distributions	(95)	122	106
Decrease (increase) in swap fair value	4,393	(14,235)	(991)
Increase (decrease) in cash from changes in:
Receivables, net	38	(14,875)	(21,019)
Inventories and prepaid expenses and other	(6,917)	(17,749)	3,644
Customer deposits	(155,399)	159,850	(31,362)
Accounts payable and accrued expenses	(102,827)	100,227	18,781
Net cash provided by operating activities	1,098,317	1,676,642	1,185,718
Cash flows used in investing activities:
Capital expenditures, net of construction payables and retention	(1,127,015)	(506,786)	(240,985)
Purchase of corporate debt securities	(200,258)	(222,856)	(183,445)
Proceeds from sale or maturity of corporate debt securities	200,090	146,112	216,051
Restricted cash	198,943	(100,709)	(99,163)
Deposits and purchase of intangibles and other assets	(218,925)	(13,961)	(38,042)
Proceeds from sale of assets	32,813	20,620	730
Net cash used in investing activities	(1,114,352)	(677,580)	(344,854)
Cash flows from financing activities:
Proceeds from exercise of stock options	11,859	20,436	15,583
Excess tax benefits from stock-based compensation	9,339	12,332	5,253
Dividends paid	(942,928)	(1,034,986)	(955,493)
Proceeds from issuance of long-term debt	958,008	1,297,870	1,648,643
Principal payments on long-term debt	(101,339)	(501,400)	(1,022,847)
Repurchase of first mortgage notes	(98,400)	0	0
Repurchase of common stock	(2,062)	(15,472)	(911)
Shares of subsidiary repurchased for share award plan	(2,081)	0	0
Interest rate swap settlement	0	0	(2,368)
Payments on long-term land concession obligation	(29,338)	(27,917)	(13,449)
Payment of financing costs	(38,683)	(42,006)	(56,890)
Net cash used in financing activities	(235,625)	(291,143)	(382,479)
Effect of exchange rate on cash	(1,217)	1,903	4,247
Cash and cash equivalents:
(Decrease) increase in cash and cash equivalents	(252,877)	709,822	462,632
Balance, beginning of year	2,435,041	1,725,219	1,262,587
Balance, end of year	2,182,164	2,435,041	1,725,219
Cash transactions:
Cash paid for interest, net of amounts capitalized	295,041	284,849	225,499
Cash paid for income taxes	3,041	2,518	4,547
Non-cash transactions:
Increase in debt related to the redemption of stock	0	0	1,936,443
Stock-based compensation capitalized into construction	5,710	195	195
Change in property and equipment included in accounts and construction payables	132,079	67,650	6,557
Increase in liability for dividends declared on nonvested stock	$ 1,668	$ 2,708	$ 866

Organization	12 Months Ended
Organization	Dec. 31, 2014
Accounting Policies [Abstract]
Organization	Organization Wynn Resorts, Limited, a Nevada corporation (together with its subsidiaries, “Wynn Resorts” or the “Company”) is a developer, owner and operator of destination casino resorts (integrated resorts). In the Macau Special Administrative Region of the People's Republic of China ("Macau"), the Company owns 72% of Wynn Macau, Limited, which operates the integrated Wynn Macau and Encore at Wynn Macau resort. In Las Vegas, Nevada, the Company owns 100% of and operates the integrated Wynn Las Vegas and Encore at Wynn Las Vegas resort. The Company's integrated Macau resort of Wynn Macau and Encore at Wynn Macau features two luxury hotel towers with a total of 1,008 spacious guest rooms and suites, approximately 284,000 square feet of casino space, casual and fine dining in eight restaurants, approximately 31,000 square feet of lounge and meeting space, approximately 57,000 square feet of retail space, recreation and leisure facilities, including two health clubs, spas and one pool. The Company refers to this integrated resort as its Macau Operations. The Company's integrated Las Vegas resort of Wynn Las Vegas and Encore at Wynn Las Vegas features two luxury hotel towers with a total of 4,748 spacious guest rooms, suites and villas, approximately 186,000 square feet of casino space, 34 food and beverage outlets, an on-site 18-hole golf course, approximately 290,000 square feet of meeting and convention space, a Ferrari and Maserati dealership, approximately 99,000 square feet of retail space, as well as two showrooms, three nightclubs and a beach club. The Company refers to this integrated resort as its Las Vegas Operations. The Company is currently constructing Wynn Palace, an integrated resort in the Cotai area of Macau, containing a 1,700-room hotel, performance lake, meeting space, casino, spa, retail offerings, and food and beverage outlets. The Company expects to open Wynn Palace in the first half of 2016. On September 17, 2014, the Massachusetts Gaming Commission ("MGC") designated Wynn MA, LLC ("Wynn MA"), an indirect wholly owned subsidiary of the Company, the award winner of the Greater Boston (Region A) gaming license. On November 4, 2014, a vote upheld the expanded gaming law in Massachusetts. On November 7, 2014, the gaming license awarded to the Company became effective. The Company will develop and operate an integrated resort in Everett, Massachusetts containing a hotel, restaurants, casino, spa, premium retail offerings, meeting and convention space and a waterfront boardwalk.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Investments in the 50%-owned joint ventures operating the Ferrari and Maserati automobile dealership and the Brioni mens’ retail clothing store inside Wynn Las Vegas are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated. Certain amounts in the consolidated financial statements for the previous years have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on the previously reported net income.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents are comprised of highly liquid investments with original maturities of three months or less 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 $1,156.3 million and $1,349.6 million at December 31, 2014 and 2013, respectively, were invested in bank time deposits, money market funds and commercial paper. In addition, the Company held bank deposits and cash on hand of approximately $1,025.9 million and $1,085.4 million as of December 31, 2014 and 2013, respectively.

Restricted Cash

The Company had restricted cash of $1.0 million and $199.9 million at December 31, 2014 and 2013, respectively. Restricted cash at December 31, 2014 consists of cash held in trust in accordance with the Company's majority owned subsidiary's share award plan. Restricted cash at December 31, 2013 consisted of certain proceeds of the Company’s financing activities that were restricted by the agreements governing the Company’s debt instruments for the payment of certain Wynn Palace related construction and development costs. During the first quarter of 2014, the Company applied the restricted cash balances to payment of certain Wynn Palace related construction and development costs.

Investment Securities

Investment securities consist of domestic and foreign short-term and long-term investments in corporate bonds and commercial paper reported at fair value, with unrealized gains and losses, net of tax, reported in other comprehensive income. Short-term investments have maturities of greater than three months but equal to or less than one year and long-term investments are those with a maturity date greater than one year. The Company’s investment policy limits the amount of exposure to any one issuer with the objective of minimizing the potential risk of principal loss. Management determines the appropriate classification (held-to-maturity/available-for-sale) of its securities at the time of purchase and reevaluates such designation as of each balance sheet date. 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 December 31, 2014 and 2013, approximately 85% and 86%, respectively, of the Company’s markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in these countries could affect the collectability of such receivables.

Accounts receivable, including casino and hotel receivables, are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company’s receivables to their carrying amount, which approximates fair value. The allowance is estimated based on historical collection patterns and current collection trends. In addition, the estimate reflects specific review of customer accounts as well as management's experience with collection trends in the casino industry and current economic and business conditions.

During 2014, 2013 and 2012 , the Company recorded adjustments to its reserve estimates for casino accounts receivable based on results of historical collection patterns and current collection trends. The adjustment benefited operating income by $8.7 million and net income attributable to Wynn Resorts, Limited by $6.8 million (or $0.07 per share on a fully diluted basis) for the year ended December 31, 2014. For the year ended December 31, 2013, this adjustment benefited operating income by $14.9 million and net income attributable to Wynn Resorts, Limited by $12.0 million (or $0.12 per share on a fully diluted basis for the year ended December 31, 2013). For the year ended December 31, 2012, this adjustment benefited operating income by $30.9 million and net income attributable to Wynn Resorts, Limited by $23.3 million (or $0.22 per share on a fully diluted basis for the year ended December 31, 2012).

Inventories

Inventories consist of retail merchandise, food and beverage items which are stated at the lower of cost or market value and certain operating supplies. Cost is determined by the first-in, first-out, average and specific identification methods.

Property and Equipment

Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:



Buildings and improvements	10 to 45 years
Land improvements	10 to 45 years
Leasehold interest in land	25 years
Airplanes	18 to 20 years
Furniture, fixtures and equipment	3 to 20 years

Costs related to improvements are capitalized, while costs of repairs and maintenance are charged to expense as incurred. The cost and accumulated depreciation of property and equipment retired or otherwise disposed of are eliminated from the respective accounts and any resulting gain or loss is included in property charges and other.

Capitalized Interest

The interest cost associated with major development and construction projects is capitalized and included in the cost of the project. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use. When no debt is specifically identified as being incurred in connection with a construction project, the Company capitalizes interest on amounts expended on the project at the Company’s weighted average cost of borrowed money. Interest of $33.5 million, $10.5 million and $2.0 million, was capitalized for the years ended December 31, 2014, 2013 and 2012, respectively.

Intangible Assets

The Company’s indefinite-lived intangible assets consist primarily of water rights acquired as part of the original purchase price of the property on which Wynn Las Vegas is located, and trademarks. Indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually. The Company’s finite-lived intangible assets consist primarily of our Massachusetts gaming license and Macau gaming concession. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.

Long-Lived Assets

Long-lived assets, which are to be held and used, including intangible assets and property and equipment, are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. If an indicator of impairment exists, the Company compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then impairment is measured as the difference between fair value and carrying value, with fair value typically based on a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs.

Deferred Financing Costs

Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expense over the terms of the related debt agreements. Approximately $12.6 million, $11.2 million and $11.0 million were amortized to interest expense during the years ended December 31, 2014, 2013 and 2012, respectively. Debt discounts incurred in connection with the issuance of debt have been capitalized and are being amortized to interest expense using the effective interest method.

Derivative Financial Instruments

The Company seeks to manage its market risk, including interest rate risk associated with variable rate borrowings, through balancing fixed-rate and variable-rate borrowings with the use of derivative financial instruments. The fair value of derivative financial instruments are recognized as assets or liabilities at each balance sheet date, with changes in fair value affecting net income as the Company’s current interest rate swaps do not qualify for hedge accounting. Accordingly, changes in the fair value of the interest rate swaps are presented as an increase (decrease) in swap fair value in the accompanying Consolidated Statements of Income. The differentials paid or received on interest rate swap agreements are recognized as adjustments to interest expense.

Redemption Price Promissory Note

The Company recorded the fair value of the Redemption Price Promissory Note (the “Redemption Note”) of approximately $1.94 billion in accordance with applicable accounting guidance. In determining this fair value, the Company estimated the Redemption Note’s present value using discounted cash flows with a probability weighted expected return for redemption assumptions and a discount rate which included time value and non-performance risk adjustments commensurate with risk of the Redemption Note.

Considerations for the redemption assumptions included the stated maturity of the Redemption Note, uncertainty of the related cash flows as well as potential effects of the following: uncertainties surrounding the potential outcome and timing of pending litigation with Aruze USA, Inc. ("Aruze"), Universal Entertainment Corporation and Mr. Kazuo Okada (collectively, the “Okada Parties”) (see Note 17 “Commitments and Contingencies”); the outcome of on-going investigations of Aruze USA, Inc. by the United States Attorney’s Office, the U.S. Department of Justice and the Nevada Gaming Control Board; and other potential legal and regulatory actions. In addition, in the furtherance of various future business objectives, the Company considered its ability, at its sole option, to prepay the Redemption Note at any time in accordance with its terms without penalty. Accordingly, the Company reasonably determined that the estimated life of the Redemption Note could be less than the contractual life of the Redemption Note.

In determination of the appropriate discount rate to be used in the estimated present value, the Redemption Note’s subordinated position relative to all other debt in the Company’s capital structure and credit ratings associated with the Company’s traded debt were considered. Observable inputs for the risk free rate based on Federal Reserve rates for U.S. Treasury securities and credit risk spread based on a yield curve index of similarly rated debt were used. As a result of this analysis, the Company concluded the Redemption Note's stated rate of 2% approximated a market rate.

Revenue Recognition and Promotional Allowances

The Company recognizes revenues at the time persuasive evidence of an arrangement exists, the service is provided or the retail goods are sold, prices are fixed or determinable and collection is reasonably assured.

Casino revenues are measured by the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers’ possession. Cash discounts, other cash incentives related to casino play and commissions rebated through junkets to customers are recorded as a reduction to casino revenue. 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; consequently, the Company’s casino revenues are reduced by discounts, commissions and points earned by customers from the Company's loyalty programs.

The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues. Such amounts are then deducted as promotional allowances. The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (in thousands):



	Years Ended December 31,
	2014		2013		2012
Rooms	$	54,981	$	52,585	$	53,487
Food and beverage	120,070		112,897		107,882
Entertainment, retail and other	14,977		14,659		17,522
	$	190,028	$	180,141	$	178,891

Customer Loyalty Programs

The Company offers loyalty programs at both its Macau Operations and its Las Vegas Operations. Under the program at its Las Vegas Operations, customers earn points based on their level of slots play which can be redeemed for free play. Under the program at its Macau Operations, customers earn points based on their level of table games and slots play which can be redeemed for free play, gifts and complimentary dining and retail shopping. The points are recognized as a liability and as a separate element of the gaming transaction with allocation of the consideration received between the points and gaming transaction. The initial recognition of the point liability is fair value based on points earned multiplied by redemption value, less an estimate for points not expected to be redeemed. The revenue from the points is recognized when redeemed.

Slot Machine Jackpots

The Company does not accrue a liability for base jackpots because it has the ability to avoid such payment as slot machines can legally be removed from the gaming floor without payment of the base amount. When the Company is unable to avoid payment of the jackpot (i.e., the incremental amount on a progressive slot machine) due to legal requirements, the jackpot is accrued as the obligation becomes unavoidable. This liability is accrued over the time period in which the incremental progressive jackpot amount is generated with a related reduction in casino revenue.

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 gross gaming revenues and are recorded as casino expenses in the accompanying Consolidated Statements of Income. These taxes totaled $1.8 billion, $2.0 billion and $1.8 billion for the years ended December 31, 2014, 2013 and 2012, 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 primarily included in general and administrative expenses. Total advertising costs were $23.3 million, $21.5 million and $23.0 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Pre-Opening Costs

Pre-opening costs consist primarily of direct salaries and wages, legal and consulting fees, insurance, utilities and advertising, and are expensed as incurred. During the years ended December 31, 2014, 2013 and 2012, the Company incurred pre-opening costs primarily in connection with the design and construction of Wynn Palace in the Cotai area of Macau.

Income Taxes

The Company is subject to income taxes in the U.S. and other foreign jurisdictions where it operates. Accounting standards require the recognition of deferred tax assets, net of applicable reserves, and liabilities for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied.

The Company’s income tax returns are subject to examination by the IRS and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. The accounting standards prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements.

Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. If a tax position, based on its technical merits, is deemed more likely than not to be sustained, then the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement.

As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes.

Foreign Currency

Gains or losses from foreign currency remeasurements are included in other income (expense) in the accompanying Consolidated Statements of Income. The results of operations and the balance sheet of Wynn Macau, Limited and its subsidiaries are translated from Macau patacas to U.S. dollars. Balance sheet accounts are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive income.

Comprehensive Income

Comprehensive income includes net income and all other non-stockholder changes in equity, or other comprehensive income. Components of the Company’s comprehensive income are reported in the accompanying Consolidated Statements of Stockholders’ Equity and Consolidated Statements of Comprehensive Income. The cumulative balance of other comprehensive income consists solely of currency translation adjustments and unrealized gain (loss) on available-for-sale securities.

Fair Value Measurements

The Company measures certain of its financial assets and liabilities, such as cash equivalents, available-for-sale securities and interest rate swaps, at fair value on a recurring basis pursuant to accounting standards for fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. These accounting 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 following table presents assets and liabilities carried at fair value (in thousands):



			Fair Value Measurements Using:
	December 31, 2014		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	1,156,285	$	828	$	1,155,457	—
Interest rate swaps	$	5,915	—		$	5,915	—
Restricted cash	$	977	$	977	—		—
Available-for-sale securities	$	250,313	—		$	250,313	—

Liabilities:
Redemption note	$	1,936,443	—		$	1,936,443	—


			Fair Value Measurements Using:
	December 31, 2013		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	1,349,647	$	220,923	$	1,128,724	—
Interest rate swaps	$	10,308	—		$	10,308	—
Restricted cash	$	199,936	—		$	199,936	—
Available-for-sale securities	$	254,388	—		$	254,388	—

Liabilities:
Redemption note	$	1,936,443	—		$	1,936,443	—

As of December 31, 2014 and 2013, approximately 19% and 91% of the Company’s cash equivalents categorized as Level 2 were deposits held in foreign currencies, respectively.

Earnings Per Share

Basic earnings per share (“EPS’) is computed by dividing net income attributable to Wynn Resorts, Limited by the weighted average number of shares outstanding during the year. Diluted EPS is computed by dividing net income attributable to Wynn Resorts, Limited by the weighted average number of common shares outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potential dilutive securities had been issued. Potentially dilutive securities include outstanding stock options and unvested restricted stock.

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS consisted of the following (in thousands, except per share amount):



	Years Ended December 31,
	2014		2013		2012
Numerator:
Net income attributable to Wynn Resorts, Ltd.	$	731,554	$	728,652	$	502,036

Denominator:
Weighted average common shares outstanding	100,927		100,540		103,092
Potential dilutive effect of stock options and restricted stock	1,004		1,101		1,157
Weighted average common and common equivalent shares outstanding	101,931		101,641		104,249

Net income attributable to Wynn Resorts, Ltd. per common share, basic	$	7.25	$	7.25	$	4.87
Net income attributable to Wynn Resorts, Ltd. per common share, diluted	$	7.18	$	7.17	$	4.82

Anti-dilutive stock options excluded from the calculation of diluted earnings per share	26		92		680

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with accounting standards which require the compensation cost relating to share-based payment transactions be recognized in the Company's Consolidated Statements of Income. The cost is measured at the grant date, based on the estimated fair value of the award using the Black-Scholes option pricing model for stock options, and based on the closing share price of the Company's stock on the grant date for nonvested share awards. The cost is recognized as an expense on a straight-line basis over the employee's requisite service period (the vesting period of the award) net of estimated forfeitures. The Company's stock-based employee compensation arrangements are more fully discussed in Note 15 “Stock-Based Compensation”.

Recently Issued Accounting Standards

In August 2014, the Financial Accounting Standards Board ("FASB") issued an accounting standards update that requires management to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. Substantial doubt about an entity's ability to continue as a going concern exists when relevant conditions and events, consolidated in the aggregate, indicate that it is probable that an entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. Currently, there is no guidance in U.S. GAAP for management's responsibility to perform an evaluation. Under the update, management's evaluation is to be performed when preparing financial statements for each annual and interim reporting period and based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. The Company will adopt this standard effective January 1, 2017. The Company is currently assessing the impact the adoption of this standard will have on its consolidated financial statements.

In June 2014, the FASB issued an accounting standards update that requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period or periods for which the requisite service has already been rendered. The effective date for this update is for the annual and interim periods beginning after December 15, 2015. Early application is permitted. The Company does not anticipate that the adoption of this standard will have a material impact on its consolidated financial statements.

In May 2014, the FASB issued an accounting standards update that amends the FASB Accounting Standards Codification and creates a new topic for Revenue from Contracts with Customers. The new guidance is expected to clarify the principles for revenue recognition and to develop a common revenue standard for U.S. GAAP applicable to revenue transactions. This guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This guidance also provides substantial revision of interim and annual disclosures. The update allows for either full retrospective adoption, meaning the guidance is applied for all periods presented, or modified retrospective adoption, meaning the guidance is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the guidance recognized at the date of initial application. The effective date for this update is for the annual and interim periods beginning after December 15, 2016. Early application is not permitted. The Company will adopt this standard effective January 1, 2017. The Company is currently assessing the impact the adoption of this standard will have on its consolidated financial statements.

In July 2013, the FASB issued an accounting standards update that amends the presentation requirements of an unrecognized tax benefit when a loss or other carryforward exists. The update would require the netting of unrecognized tax benefits against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. The effective date for this update is for the annual and interim periods beginning after December 15, 2013. The Company adopted this standard during the first quarter of 2014. The adoption of this update prospectively resulted in the presentation of unrecognized tax benefits of $29.2 million previously reflected in other long-term liabilities to be classified in long-term deferred income taxes, net, in the accompanying Consolidated Balance Sheets, at December 31, 2014.

Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Accumulated Other Comprehensive Income

The following table presents the changes by component, net of tax and noncontrolling interest, in accumulated other comprehensive income of the Company (in thousands):



	Foreign currency translation			Unrealized gain (loss) on securities			Accumulated other comprehensive income
December 31, 2013	$	2,874		$	39		$	2,913
Current period other comprehensive gain (loss)	129			(208		)	(79		)
Amounts reclassified from accumulated other comprehensive income	(333		)	4			(329		)
Net current-period other comprehensive loss	(204		)	(204		)	(408		)
December 31, 2014	$	2,670		$	(165	)	$	2,505

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Investment Securities

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Investment securities consisted of the following (in thousands):



	December 31, 2014									December 31, 2013
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)		Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
Domestic and foreign corporate bonds	$	204,045	$	28	$	(174	)	$	203,899	$	221,418	$	140	$	(124	)	$	221,434
Commercial paper	46,434		1		(21		)	46,414		32,941		16		(3		)	32,954
	$	250,479	$	29	$	(195	)	$	250,313	$	254,359	$	156	$	(127	)	$	254,388

For investments with unrealized losses as of December 31, 2014, the Company has determined that (i) it does not have the intent to sell any of these investments, and (ii) it is not likely that the Company will be required to sell these investments prior to the recovery of the amortized cost. Accordingly, the Company has determined that no other-than-temporary impairments exist at the reporting date.

The Company obtains pricing information in determining the fair value of its available-for-sale securities from independent pricing vendors. Based on management’s inquiries, the pricing vendors use various pricing models consistent with what other market participants would use. The assumptions and inputs used by the pricing vendors are derived from market observable sources including: reported trades, broker/dealer quotes, issuer spreads, benchmark curves, bids, offers and other market-related data. The Company has not made adjustments to such prices. Each quarter, the Company validates the fair value pricing methodology to determine the fair value is consistent with applicable accounting guidance and to confirm that the securities are classified properly in the fair value hierarchy. The Company compares the pricing received from its vendors to independent sources for the same or similar securities.

The fair value of these investment securities at December 31, 2014, by contractual maturity, are as follows (in thousands):



	Fair value
Available-for-sale securities
Due in one year or less	$	240,140
Due after one year through two years	10,173
	$	250,313

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Receivables, net

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Receivables, net

Receivables, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Casino	$	257,930		$	252,998
Hotel	15,474			15,386
Retail leases and other	39,231			47,539
	312,635			315,923
Less: allowance for doubtful accounts	(74,678		)	(73,991		)
	$	237,957		$	241,932

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Property and Equipment, net

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Land and improvements	$	734,625		$	733,233
Buildings and improvements	3,883,626			3,883,442
Airplanes	126,491			135,040
Furniture, fixtures and equipment	1,749,288			1,686,522
Leasehold interest in land	316,431			316,550
Construction in progress	1,666,326			558,624
	8,476,787			7,313,411
Less: accumulated depreciation	(2,620,945		)	(2,378,962		)
	$	5,855,842		$	4,934,449

Construction in progress consists primarily of costs capitalized, including interest, for the construction of Wynn Palace.

Intangible Assets, net

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

Intangible assets, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Indefinite-lived intangible assets:
Trademarks	$	1,399		$	1,399
Water rights	6,400			6,400
Total indefinite-lived intangible assets	7,799			7,799

Finite-lived intangible assets:
Macau Gaming Concession	42,300			42,300
Less: accumulated amortization	(24,432		)	(22,048		)
	17,868			20,252
Show Production rights	—			863
Less: accumulated amortization	—			(863		)
	—			—
Massachusetts Gaming License	86,700			—
Less: accumulated amortization	—			—
	86,700			—
Other	2,716			2,716
Less: write-offs	(2,716		)	—
	—			2,716
Total finite-lived intangible assets	104,568			22,968
Total intangible assets, net	$	112,367		$	30,767

Water rights and trademarks are indefinite-lived assets and, accordingly, not amortized. Water rights reflect the fair value allocation determined in the purchase of the property on which Wynn Las Vegas is located in April 2000. The value of the trademarks primarily represents the costs to acquire the “Le Rêve” name.

The Macau gaming concession is a finite-lived intangible asset and being amortized over the 20-year life of the concession. The Company expects that amortization of the Macau gaming concession will be $2.4 million each year from 2015 through 2021, and $1.2 million in 2022.

In November 2014, the Company was awarded a license to operate a casino in Massachusetts. The consideration paid to the State of Massachusetts for the license fee and certain costs incurred in connection with and contractually related to obtaining the license will be considered a finite-lived intangible asset. These amounts will be amortized beginning upon the opening of the resort.

Long-Term Debt

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consisted of the following (in thousands):



	December 31,
	2014		2013
Macau Related:
Wynn Macau Credit Facilities:
Senior Term Loan, due July 31, 2017 and July 31, 2018; interest at LIBOR or HIBOR plus 1.75%—2.50%, net of original issue discount of $3,830 at December 31, 2014 and $4,900 at December 31, 2013	$	948,823	$	948,028
Senior Revolving Credit Facility, due July 31, 2017, interest at LIBOR or HIBOR plus 1.75%—2.50%	132,524		—
5 1/4% Senior Notes, due October 15, 2021, including original issue premium of $5,141 at December 31, 2014 and none at December 31, 2013	1,355,141		600,000
U.S. and Corporate Related:
7 7/8% First Mortgage Notes, due May 1, 2020, net of original issue discount of $1,279 at December 31, 2014 and $1,463 at December 31, 2013	345,731		350,547
7 3/4% First Mortgage Notes, due August 15, 2020	1,226,600		1,320,000
5 3/8% First Mortgage Notes, due March 15, 2022	900,000		900,000
4 1/4% Senior Notes, due May 30, 2023	500,000		500,000
Redemption Price Promissory Note with former stockholder and related party, due February 18, 2022; interest at 2%	1,936,443		1,936,443
Note Payable, due April 1, 2017; interest at LIBOR plus 1.25%	—		32,550
	7,345,262		6,587,568
Current portion of long-term debt	—		(1,050		)
	$	7,345,262	$	6,586,518

Macau Related Debt

Wynn Macau Credit Facilities

On July 31, 2012, Wynn Resorts (Macau) S.A. (“Wynn Macau SA”), an indirect subsidiary of Wynn Resorts, Limited, amended and restated its credit facilities from September 2004 (as amended and restated, the “Wynn Macau Credit Facilities”). The Wynn Macau Credit Facilities and related agreements expanded availability under Wynn Macau SA’s senior secured bank facility to $2.5 billion (or equivalent in Hong Kong dollars), consisting of a $1.55 billion equivalent senior secured revolving credit facility and a $950 million equivalent fully funded senior secured term loan facility. The $950 million equivalent senior term loan facility includes an increase of $200 million equivalent from the exercise of an option by Wynn Macau SA on July 30, 2013. The exercise of Wynn Macau SA's option to increase the senior term loan facility was pursuant to the terms and provisions of the Wynn Macau Credit Facilities. Borrowings under the Wynn Macau Credit Facilities, which consist of both Hong Kong Dollar and United States Dollar tranches, were used to refinance Wynn Macau SA’s existing indebtedness, and will be used to fund the design, development, construction and pre-opening expenses of Wynn Palace and for general corporate purposes.

The revolving credit facility matures in July 2017 and the term loan facility matures in July 2018. The principal amount of the term loan is required to be repaid in two equal installments in July 2017 and July 2018. The Wynn Macau Credit Facilities bear interest for the first six months after closing at LIBOR or HIBOR plus a margin of 2.50% and thereafter will be subject to LIBOR or HIBOR plus a margin of between 1.75% to 2.50% based on Wynn Macau SA’s leverage ratio. The annual fee required to pay for unborrowed amounts, if any, is 0.61% per annum, payable quarterly in arrears, calculated based on the daily average of the unborrowed amounts under such credit facilities.

Borrowings under the Wynn Macau Credit Facilities are guaranteed by Palo Real Estate Company Limited (“Palo”), a subsidiary of Wynn Macau SA, and by certain subsidiaries of the Company that own equity interests in Wynn Macau SA, and are secured by substantially all of the assets of Wynn Macau SA, the equity interests in Wynn Macau SA and substantially all of the assets of Palo.

The Wynn Macau Credit Facilities contain a requirement that Wynn Macau SA must make mandatory repayments of indebtedness from specified percentages of excess cash flow. If Wynn Macau SA meets a Consolidated Leverage Ratio, as defined in the Wynn Macau Credit Facilities, of greater than 4.0 to 1, such repayment is defined as 50% of Excess Cash Flow, as defined in the Wynn Macau Credit Facilities. If the Consolidated Leverage Ratio is equal or less than 4.0 to 1, then no repayment is required.

The Wynn Macau Credit Facilities contain customary covenants restricting certain activities including, but not limited to: the incurrence of additional indebtedness, the incurrence or creation of liens on any of its property, sale and leaseback transactions, the ability to dispose of assets, and making loans or other investments. In addition, Wynn Macau SA was required by the financial covenants to maintain a Leverage Ratio, as defined in the Wynn Macau Credit Facilities, of not greater than 4.50 to 1 as of December 31, 2014, and an Interest Coverage Ratio, as defined in the Wynn Macau Credit Facilities, of not less than 2.00 to 1.

In connection with the initial financing of Wynn Macau SA, Wynn Macau SA entered into a Bank Guarantee Reimbursement Agreement with Banco Nacional Ultramarino, S.A. (“BNU”) for the benefit of the Macau government. This guarantee assures Wynn Macau SA’s performance under the casino concession agreement, including the payment of premiums, fines and indemnity for any material failure to perform under the terms of the concession agreement. As of December 31, 2014, the guarantee was in the amount of 300 million Macau patacas (approximately $37 million) and will remain at such amount until 180 days after the end of the term of the concession agreement (2022). BNU, as issuer of the guarantee, is currently secured by a second priority security interest in the senior lender collateral package. From and after repayment of all indebtedness under the Wynn Macau Credit Facilities, Wynn Macau SA is obligated to promptly, upon demand by BNU, repay any claim made on the guarantee by the Macau government. BNU is paid an annual fee for the guarantee of approximately 2.3 million Macau patacas (approximately $0.3 million).

In connection with amending the Wynn Macau Credit Facilities, the Company expensed $17.7 million and capitalized $33.2 million of financing costs in the year ended December 31, 2012.

As of December 31, 2014, the Company had $1.42 billion of available borrowing capacity under the senior secured revolving credit facility.

5 1/4% Senior Notes due 2021

On March 20, 2014, Wynn Macau, Limited (“WML”), an indirect subsidiary of Wynn Resorts, Limited, issued $750 million aggregate principal amount of 5 1/4% Senior Notes due 2021 (the “Additional 2021 Notes”), which were consolidated and form a single series with the $600 million aggregate principal amount of 5 1/4% Senior Notes due 2021 issued by WML on October 16, 2013 (the “Original 2021 Notes” and together with the “Additional 2021 Notes”, the “2021 Notes”). WML received net proceeds of approximately $748.8 million after adding the original issue premium and deducting commissions and expenses of the offering. WML will use the net proceeds for working capital requirements and general corporate purposes.

The Additional 2021 Notes have the same terms and conditions as those of the Original 2021 Notes. The 2021 Notes will bear interest at the rate of 5 1/4% per annum and will mature on October 15, 2021. Interest on the 2021 Notes is payable semi-annually in arrears on April 15 and October 15 of each year, beginning on April 15, 2014. At any time on or before October 14, 2016, WML may redeem the 2021 Notes, in whole or in part, at a redemption price equal to the greater of (a) 100% of the aggregate principal amount of the 2021 Notes or (b) a “make-whole” amount as determined by an independent investment banker in accordance with the terms of the indenture for the 2021 Notes, dated as of October 16, 2013 (the "WML Indenture"). In either case, the redemption price would include accrued and unpaid interest. In addition, on or after October 15, 2016, WML may redeem the 2021 Notes, in whole or in part, at a premium decreasing annually from 103.94% of the principal amount to zero, plus accrued and unpaid interest. If WML undergoes a Change of Control (as defined in the WML Indenture), it must offer to repurchase the 2021 Notes at a price equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest. In addition, the Company may redeem the 2021 Notes, in whole but not in part, at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest, in response to any change in or amendment to certain tax laws or tax positions. Further, if a holder or beneficial owner of the 2021 Notes fails to meet certain requirements imposed by any Gaming Authority (as defined in the WML Indenture), WML may require the holder or beneficial owner to dispose of or redeem its 2021 Notes.

The 2021 Notes are WML’s general unsecured obligations and rank pari passu in right of payment with all of WML’s existing and future senior unsecured indebtedness; will rank senior to all of WML’s future subordinated indebtedness, if any; will be effectively subordinated to all of WML’s future secured indebtedness to the extent of the value of the assets securing such debt; and will be structurally subordinated to all existing and future obligations of WML’s subsidiaries, including Wynn Macau SA’s existing credit facilities. The 2021 Notes are not registered under the Securities Act of 1933, as amended (the “Securities Act”), and the 2021 Notes are subject to restrictions on transferability and resale.

The WML Indenture contains covenants limiting WML’s (and certain of its subsidiaries’) ability to, among other things: merge or consolidate with another company; transfer or sell all or substantially all of its properties or assets; and lease all or substantially all of its properties or assets. The terms of the WML Indenture contain customary events of default, including, but not limited to: default for 30 days in the payment when due of interest on the 2021 Notes; default in the payment when due of the principal of, or premium, if any, on the 2021 Notes; failure to comply with any payment obligations relating to the repurchase by WML of the 2021 Notes upon a change of control; failure to comply with certain covenants in the WML Indenture; certain defaults on certain other indebtedness; failure to pay judgments against WML or certain subsidiaries that, in the aggregate, exceed $50 million; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency, all 2021 Notes then outstanding will become due and payable immediately without further action or notice.

U.S. and Corporate Related Debt

Wynn America Credit Facilities

On November 20, 2014, Wynn America, LLC ("Wynn America"), an indirect wholly owned subsidiary of Wynn Resorts, Limted, and certain subsidiaries of Wynn America, entered into a $1.25 billion senior secured credit facility. The senior secured credit facility consists of a $375 million senior secured revolving credit facility and an $875 million delay draw senior secured term loan facility (together, the "Wynn America Credit Facilities"). Borrowings under the Wynn America Credit Facilities will be used by the Company primarily to fund the design, development, construction and pre-opening expenses of the Wynn resort in Massachusetts and for other general corporate purposes.

The revolving credit facility matures in November 2019. The term loan facility matures in November 2020 and will require quarterly principal payments, scheduled to begin in June 2018. Subject to certain exceptions, the Wynn America Credit Facilities bear interest at either base rate plus 0.75% per annum or the reserve adjusted eurodollar rate plus 1.75% per annum. The annual fee required to pay for unborrowed amounts, if any, is 0.30% per annum, payable quarterly in arrears, calculated based on the daily average of the unborrowed amounts under such credit facilities.

Certain subsidiaries of Wynn America will guarantee the obligation of Wynn America under the credit facilities. Wynn America has agreed to use commercially reasonable efforts to cause a series of corporate restructurings and related transactions, including receipt of gaming approvals from relevant gaming authorities, pursuant to which Wynn Las Vegas, LLC and its subsidiaries will become subsidiaries of Wynn Las Vegas Holdings, LLC, a direct subsidiary of Wynn America (the "Wynn Las Vegas Reorganization"). Upon the consummation of the Wynn Las Vegas Reorganization (including receipt of all approvals required under applicable gaming laws and regulations), Wynn Las Vegas, LLC and its subsidiaries shall be restricted subsidiaries under the credit facilities but shall not guarantee the obligations of Wynn America until such time, and then only to such extent, as may be permitted by any then existing Wynn Las Vegas, LLC' senior secured notes.

The Wynn America Credit Facilities contain customary representation and warranties, events of default and negative and affirmative covenants, including, among other things, limitations on: indebtedness; investments; restricted payments; mergers and acquisitions; payments of indebtedness; negative pledges; liens; transactions with affiliates and sales of assets. In addition, Wynn America is subject to financial covenants including maintaining a Maximum Consolidated Senior Secured Net Leverage Ratio and a Minimum Consolidated EBITDA, each as defined in the Wynn America Credit Facilities. Commencing with the second full fiscal quarter ending after the fiscal quarter in which the opening of the Wynn Resort in Massachusetts occurs, the Maximum Consolidated Senior Secured Net Leverage Ratio is not to exceed 2.75 to 1. Commencing with the first full fiscal quarter ending with the fiscal quarter in which the Wynn Las Vegas Reorganization occurs, the Minimum Consolidated EBITDA is not to be less than $200.0 million.

The Company has provided a completion guaranty in favor of the lenders under the Wynn America Credit Facilities to support the development and opening of the Wynn resort in Massachusetts.

Wynn America and the guarantors have entered into a security agreement in favor of the lenders under the Wynn America Credit Facilities pursuant to which, subject to certain exceptions, Wynn America and the guarantors have pledged all equity interests in the guarantors to the extent permitted by applicable law and granted a first priority security interest in substantially all of the other existing and future assets of the guarantors.

In connection with entering into the Wynn America Credit Facilities, the Company capitalized $23.4 million of financing costs in the year ended December 31, 2014.

As of December 31, 2014, there were no amounts drawn under the Wynn America Credit Facilities, however, there were outstanding letters of credit totaling $8.9 million reducing the available borrowing capacity to $1.24 billion.

7 7/8% First Mortgage Notes due 2020

In April 2010, Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. ("Wynn Capital"), an indirect wholly owned subsidiary of Wynn Resorts, Limited (together, the "Issuers") issued, in a private offering, $352 million aggregate principal amount of 7 7/8% first mortgage notes due May 1, 2020 (the “7 7/8% 2020 Notes”). The 7 7/8% 2020 Notes were issued pursuant to an exchange offer for previously issued notes that were to mature in December 2014. Interest is due on the 7 7/8% 2020 Notes on May 1st and November 1st of each year. Commencing May 1, 2015, the 7 7/8% 2020 Notes are redeemable at the Issuers’ option at a price equal to 103.938% of the principal amount redeemed and the premium over the principal amount declines ratably on May 1st of each year thereafter to zero on or after May 1, 2018. The 7 7/8% 2020 Notes are senior obligations of the Issuers and are unsecured (except by the first priority pledge by Wynn Resorts Holdings, LLC of its equity interests in Wynn Las Vegas, LLC (the "Holdings pledge")). The Issuers’ obligations under the 7 7/8% 2020 Notes rank pari passu in right of payment with the 7 3/4% 2020 Notes (as defined below), the 2022 Notes (as defined below) and the 2023 Notes (as defined below). The 7 7/8% 2020 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 7 7/8% 2020 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 7 7/8% 2020 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC's ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

During the year ended December 31, 2014, Wynn Las Vegas, LLC repurchased and canceled $5.0 million in principal, plus interest, of its 7 7/8% first mortgage notes due May 1, 2020 through the open market. The Company incurred $0.5 million in expenses associated primarily with the premium paid for the repurchases and unamortized deferred financing costs and original issue discount, which is included in loss on extinguishment of debt in the accompanying Consolidated Statements of Income.

On February 10, 2015, the Issuers commenced a cash tender offer for any and all of the outstanding aggregate principal amount of the 7 7/8% 2020 Notes. Wynn Las Vegas, LLC accepted for purchase valid tenders with respect to approximately $305.8 million of the $377.0 million aggregate principal amount. For more information on the cash tender offer of the 7 7/8% 2020 Notes, see Note 20 "Subsequent Events".

7 3/4% First Mortgage Notes due 2020

In August 2010, the Issuers issued $1.32 billion aggregate principal amount of 7 3/4% first mortgage notes due August 15, 2020 (the “7 3/4% 2020 Notes”). The 7 3/4% 2020 Notes were issued at par. The 7 3/4% 2020 Notes refinanced a previous notes issue that was to mature in December 2014. Interest is due on the 7 3/4% 2020 Notes on February 15th and August 15th of each year. Commencing August 15, 2015, the 7 3/4% 2020 Notes are redeemable at the Issuers’ option at a price equal to 103.875% of the principal amount redeemed and the premium over the principal amount declines ratably on August 15th of each year thereafter to zero on or after August 15, 2018. The 7 3/4% 2020 Notes are senior obligations of the Issuers and are unsecured (except by the Holdings pledge). The Issuers’ obligations under the 7 3/4% 2020 Notes rank pari passu in right of payment with the 7 7/8% 2020 Notes, the 2022 Notes (as defined below) and the 2023 Notes (as defined below). The 7 3/4% 2020 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 7 3/4% 2020 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 7 3/4% 2020 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC’s ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

During the year ended December 31, 2014, Wynn Las Vegas, LLC repurchased and canceled $93.4 million in principal, plus interest, of its 7 3/4% first mortgage notes due August 15, 2020 through the open market. The Company incurred $9.1 million in expenses associated primarily with the premium paid for the repurchases and unamortized deferred financing costs included in loss on extinguishment of debt in the accompanying Consolidated Statements of Income.

On February 10, 2015, the Issuers commenced a cash tender offer for any and all of the outstanding aggregate principal amount of the 7 3/4% 2020 Notes. Wynn Las Vegas, LLC accepted for purchase valid tenders with respect to approximately $1,146.5 million of the $1,226.6 million aggregate principal amount. For more information on the cash tender offer of the 7 3/4% 2020 Notes, see Note 20 "Subsequent Events".

5 3/8% First Mortgage Notes due 2022

In March 2012, the Issuers issued, in a private offering, $900 million aggregate principal amount of 5 3/8% First Mortgage Notes due 2022 (the “2022 Notes”). A portion of the proceeds were used to repay all amounts outstanding under the Wynn Las Vegas, LLC term loan facilities. In October 2012, the Issuers commenced an offer to exchange all of the 2022 Notes for notes registered under the Securities Act of 1933, as amended. The exchange offer closed on November 6, 2012. Interest is due on the 2022 Notes on March 15th and September 15th of each year. Commencing March 15, 2017, the 2022 Notes are redeemable at the Issuers’ option at a price equal to 102.688% of the principal amount redeemed and the premium over the principal amount declines ratably on March 15th of each year thereafter to zero on or after March 15, 2020. The 2022 Notes are senior obligations of the Issuers and are unsecured (except by the Holdings pledge). The Issuers’ obligations under the 2022 Notes rank pari passu in right of payment with the 7 7/8% 2020 Notes, the 7 3/4% 2020 Notes and the 2023 Notes (as defined below). The 2022 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 2022 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 2022 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC’s ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

4 1/4% Senior Notes due 2023

In May 2013, the Issuers completed the issuance of $500 million aggregate principal amount of 4 1/4% Senior Notes due 2023 (the “2023 Notes”) pursuant to an indenture, dated as of May 22, 2013 (the “2023 Indenture”), among the Issuers, the Guarantors (as defined below) and U.S. Bank National Association, as trustee. The 2023 Notes were issued at par. The Issuers used the net proceeds from the 2023 Notes to cover the cost of purchasing the 2017 Notes tendered in the tender offer. In addition, the Issuers satisfied and discharged the 2017 Indenture and, in November 2013, used the remaining net proceeds to redeem all of the 2017 Notes not previously tendered. In connection with the issuance of the 2023 Notes, the Company capitalized approximately $4.1 million of financing costs.

The 2023 Notes will mature on May 30, 2023 and bear interest at the rate of 4 1/4% per annum. The Issuers may, at their option, redeem the 2023 Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for 2023 Notes that are redeemed before February 28, 2023 will be equal to the greater of (a) 100% of the principal amount of the 2023 Notes to be redeemed or (b) a “make-whole” amount described in the 2023 Indenture, plus in either case accrued and unpaid interest to, but not including, the redemption date. The redemption price for the 2023 Notes that are redeemed on or after February 28, 2023 will be equal to 100% of the principal amount of the 2023 Notes to be redeemed, plus accrued and unpaid interest to, but not including, the redemption date. In the event of a change of control triggering event, the Issuers will be required to offer to repurchase the 2023 Notes at 101% of the principal amount, plus accrued and unpaid interest to but not including the repurchase date. The 2023 Notes are also subject to mandatory redemption requirements imposed by gaming laws and regulations of gaming authorities in Nevada.

The 2023 Notes are the Issuers’ senior unsecured obligations and rank pari passu in right of payment with the Issuers’ outstanding 7 7/8% 2020 Notes, 7 3/4% 2020 Notes and the 2022 Notes. The 2023 Notes are secured by a first priority pledge of the Company’s equity interests. The equity interests of the Company also secure the Issuers' outstanding 7 7/8% 2020 Notes, 7 3/4% 2020 Notes and the 2022 Notes. If Wynn Resorts, Limited receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2023 Notes will be released.

The 2023 Notes are jointly and severally guaranteed by all of the Issuers’ subsidiaries, other than Wynn Las Vegas Capital Corp., which was a co-issuer (the “Guarantors”). The guarantees are senior unsecured obligations of the Guarantors and rank senior in right of payment to all of their existing and future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the Guarantors that are not so subordinated and will be effectively subordinated in right of payment to all of such Guarantors’ existing and future secured debt (to the extent of the collateral securing such debt).

The 2023 Indenture contains covenants limiting the Issuers’ and the Guarantors' ability to create liens on assets to secure debt; enter into sale-leaseback transactions; and merge or consolidate with another company. These covenants are subject to a number of important and significant limitations, qualifications and exceptions.

Events of default under the 2023 Indenture include, among others, the following: default for 30 days in the payment when due of interest on the 2023 Notes; default in payment when due of the principal of, or premium, if any, on the 2023 Notes; failure to comply with certain covenants in the 2023 Indenture; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Issuers or any Guarantor, all 2023 Notes then outstanding will become due and payable immediately without further action or notice.

The 2023 Notes were offered pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities Act”). The 2023 Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to certain persons in reliance on Regulation S under the Securities Act. The 2023 Notes have not been and will not be registered under the Securities Act of 1933 or under any state securities laws. Therefore, the 2023 Notes may not be offered or sold within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws.

Redemption Price Promissory Note

Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, the Company redeemed and canceled Aruze’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Wynn Resorts’ articles of incorporation authorize redemption of the shares held by unsuitable persons at a “fair value” redemption price. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares held by Aruze under the terms of the Stockholders Agreement (as defined below). Pursuant to its articles of incorporation, the Company issued the Redemption Note to Aruze, a former stockholder and related party, in redemption of the shares. The Redemption Note has a principal amount of $1.94 billion, matures on February 18, 2022 and bears interest at the rate of 2% per annum payable annually in arrears on each anniversary of the date of the Redemption Note. The Company may, in its sole and absolute discretion, at any time and from time to time, and without penalty or premium, prepay the whole or any portion of the principal or interest due under the Redemption Note. In no instance shall any payment obligation under the Redemption Note be accelerated except in the sole and absolute discretion of the Company or as specifically mandated by law. The indebtedness evidenced by the Redemption Note is and shall be subordinated in right of payment, to the extent and in the manner provided in the Redemption Note, to the prior payment in full of all existing and future obligations of Wynn Resorts and any of its affiliates in respect of indebtedness for borrowed money of any kind or nature.

The Company recorded the fair value of the Redemption Note of approximately $1.94 billion in accordance with applicable accounting guidance. The Company utilized an independent third party valuation to assist in the determination of this fair value. In determining this fair value, the Company estimated the Redemption Note’s present value using discounted cash flows with a probability weighted expected return for redemption assumptions and a discount rate which included time value and non-performance risk adjustments commensurate with risk of the Redemption Note.

Considerations for the redemption assumptions included the stated maturity of the Redemption Note, uncertainty of the related cash flows as well as potential effects of the following: uncertainties surrounding the potential outcome and timing of pending litigation with the Okada Parties (see Note 17 “Commitments and Contingencies”); the outcome of on-going investigations of Aruze by the United States Attorney’s Office, the U.S. Department of Justice and the Nevada Gaming Control Board; and other potential legal and regulatory actions. In addition, in the furtherance of various future business objectives, the Company considered its ability, at its sole option, to prepay the Redemption Note at any time in accordance with its terms without penalty. Accordingly, the Company reasonably determined that the estimated life of the Redemption Note could be less than the contractual life of the Redemption Note.

In determination of the appropriate discount rate to be used in the estimated present value, the Redemption Note’s subordinated position relative to all other debt in the Company’s capital structure and credit ratings associated with the Company’s traded debt were considered. Observable inputs for the risk free rate based on Federal Reserve rates for U.S. Treasury securities and credit risk spread based on a yield curve index of similarly rated debt was used. As a result of this analysis, the Company concluded the Redemption Notes’s stated rate of 2% approximated a market rate.

The Okada Parties have challenged the redemption of Aruze’s shares and the Company is currently involved in litigation with those parties as well as related shareholder derivative litigation. See further discussion in Note 17 “Commitments and Contingencies”.

On each of February 14, 2013 and February 13, 2014, the Company issued checks to Aruze in the amount of $38.7 million, representing the interest payments due on the Redemption Note at those times. However, those checks were not cashed. In February 2014, the Okada Parties advised of their intent to deposit any checks for interest and principal, past and future, due under the terms of the Redemption Note to the clerk of the court for deposit into the clerk’s trust account. On March 17, 2014, the parties stipulated that the checks be returned to the Company for reissue in the same amounts, payable to the clerk of the court for deposit into the clerk's trust account. Pursuant to the stipulation, on March 20, 2014, the Company delivered to the clerk of the court the reissued checks that were deposited into the clerk's trust account and filed a notice with the court with respect to the same. On February 13, 2015, the Company issued a check for interest payment due at that time to the clerk of the court for deposit into the clerk’s trust account.

As further discussed in Note 17 “Commitments and Contingencies”, on June 19, 2012, Elaine Wynn asserted a cross claim against Stephen A. Wynn and Aruze seeking a declaration that (1) any and all of Elaine Wynn’s duties under the Stockholders Agreement shall be discharged; (2) the Stockholders Agreement is subject to rescission and is rescinded; (3) the Stockholders Agreement is an unreasonable restraint on alienation in violation of public policy; and/or (4) the restrictions on sale of shares shall be construed as inapplicable to Elaine Wynn. The indenture for Wynn Las Vegas, LLC's 4 1/4% Senior Notes due 2023 (the "2023 Indenture") provides that if Stephen A. Wynn, together with certain related parties, in the aggregate beneficially owns a lesser percentage of the outstanding common stock of the Company than are beneficially owned by any other person, a change of control will have occurred. The indenture for Wynn Las Vegas, LLC's 5 1/2% Senior Notes due 2025 (the "2025 Indenture") provides that if any event constitutes a "change of control" under the 2023 Indenture, it will constitute a change of control under the 2025 Indenture. If Elaine Wynn prevails in her cross claim, Stephen A. Wynn would not beneficially own or control Elaine Wynn’s shares, which could increase the likelihood that a change in control may occur under the Wynn Las Vegas debt documents. Under the 2023 Indenture and the 2025 Indenture, if a change of control occurs and within 60 days after that occurrence, the 4 1/4% Senior Notes due 2023 or the 5 1/2% Senior Notes due 2025, as applicable, are rated below investment grade by both rating agencies that rate such notes, the Company is required to make an offer to each applicable holder to repurchase all or any part of such holder’s notes at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest on the notes purchased, if any, to the date of repurchase (unless the notes have been previously called for redemption). Mr. Wynn is opposing Ms. Wynn’s cross claim.

The Company will continue to vigorously pursue its claims against the Okada Parties, and the Company, each of the members of the Company’s Board of Directors (other than Mr. Okada) and Wynn Resorts’ General Counsel (collectively, the “Wynn Parties”) will continue to vigorously defend against the counterclaims asserted against them. The Company’s claims and the Okada Parties’ counterclaims remain in an early stage and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this matter or the range of reasonably possible loss, if any. An adverse judgment or settlement involving payment of a material amount could cause a material adverse effect on our financial condition.

Note Payable for Aircraft

In March 2007, World Travel, LLC, a subsidiary of Wynn Las Vegas, LLC, entered into a loan agreement with a principal balance of $42 million. The loan was guaranteed by Wynn Las Vegas, LLC and secured by a first priority security interest in one of the Company’s aircraft. Principal payments of $350,000 plus interest were made quarterly with a balloon payment of $28 million due at maturity, April 1, 2017. Interest was calculated at 90-day LIBOR plus 125 basis points.

In November 2014, the Company sold the aircraft and fully repaid the remaining principal amount of $31.5 million and all accrued interest on the note payable.

Debt Covenant Compliance

As of December 31, 2014, management believes the Company was in compliance with all debt covenants.

Fair Value of Long-Term Debt

The estimated fair value of the Company’s long-term debt, excluding the Redemption Note, as of December 31, 2014 and 2013, was approximately $5.4 billion and $4.8 billion, respectively compared to its carrying value of $5.4 billion and $4.7 billion, respectively. The estimated fair value of the Company’s long-term debt, excluding the Redemption Note, is based on recent trades, if available, and indicative pricing from market information (Level 2 inputs). See Note 2 “Summary of Significant Accounting Policies” for discussion on the estimated fair value of the Redemption Note.

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt, including the accretion of debt discounts of $5.1 million and amortization of debt premiums of $5.1 million, are as follows (in thousands):



Years Ending December 31,
2017	$	508,922
2018	576,256
2019	—
Thereafter	6,260,052
	$	7,345,230

Interest Rate Swaps	12 Months Ended
Interest Rate Swaps	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swaps	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 Consolidated Statements of Income, as the interest rate swaps do not qualify for hedge accounting. The Company utilized Level 2 inputs as described in Note 2 "Summary of Significant Accounting Policies” to determine fair value. The fair value approximates the amount the Company would pay if these contracts were settled at the respective valuation dates. Fair value is estimated based upon current, and predictions of future, interest rate levels along a yield curve, the remaining duration of the instruments and other market conditions, and therefore, is subject to significant estimation and a high degree of variability and fluctuation between periods. The fair value is adjusted, to reflect the impact of credit ratings of the counterparties or the Company, as applicable. These adjustments resulted in a reduction in the fair values as compared to their settlement values. As of December 31, 2014 and 2013, the interest rate swaps were recorded as an asset of $5.9 million and $10.3 million, respectively, and included in deposits and other assets. The Company currently has three interest rate swap agreements intended to hedge a portion of the underlying interest rate risk on borrowings under the Amended Wynn Macau Credit Facilities. Under two of the swap agreements, the Company pays a fixed interest rate (excluding the applicable interest margin) of 0.73% on notional amounts corresponding to borrowings of HK$3.95 billion (approximately $509.4 million) incurred under the Amended 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. These interest rate swaps fix the all-in interest rate on such amounts at 2.48% to 3.23%. These interest rate swap agreements mature in July 2017. Under the third swap agreement, the Company pays a fixed interest rate (excluding the applicable interest margin) of 0.68% on notional amounts corresponding to borrowings of $243.8 million incurred under the Amended Wynn Macau Credit Facilities in exchange for receipts on the same amount at a variable rate based on the applicable LIBOR at the time of payment. This interest rate swap fixes the all-in interest rate on such amounts at 2.43% to 3.18%. This interest rate swap agreement matures in July 2017.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5708775-113959

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5580258-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Related Party Share Redemption Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, the Company redeemed and canceled Aruze’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Wynn Resorts’ articles of incorporation authorize redemption of the shares held by unsuitable persons at a “fair value” redemption price. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares which were subject to the terms of an existing stockholder agreement. Pursuant to its articles of incorporation, the Company issued the Redemption Note to Aruze, a former stockholder and related party, in redemption of the shares. Aruze, Universal Entertainment Corporation and Kazuo Okada have challenged the redemption of Aruze’s shares and we are currently involved in litigation with those parties as well as related shareholder derivative litigation. The outcome of these various proceedings cannot be predicted. The Company’s claims and the Okada Parties’ counterclaims are in a preliminary stage and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this matter or the range of reasonably possible loss, if any. An adverse judgment or settlement involving payment of a material amount could cause a material adverse effect on our financial condition. Amounts Due to Officers The Company periodically provides services to Stephen A. Wynn, Chairman of the Board of Directors and Chief Executive Officer (“Mr. Wynn”), and certain other officers and directors of the Company, including the personal use of employees, construction work and other personal services. Mr. Wynn and other officers and directors have deposits with the Company to prepay any such items, which are replenished on an ongoing basis as needed. As of December 31, 2014 and 2013, Mr. Wynn and the other officers and directors had a net deposit balance with the Company of $0.6 million and $0.8 million, respectively. Villa Lease On March 18, 2010, Mr. Wynn and Wynn Las Vegas, LLC entered into an Amended and Restated Agreement of Lease (the “Prior SW Lease”) for a villa to serve as Mr. Wynn’s personal residence. The Prior SW Lease amended and restated a previous lease. The Prior SW Lease was approved by the Audit Committee of the Board of Directors of the Company. The term of the Prior SW Lease commenced as of March 1, 2010 and ran concurrent with Mr. Wynn’s employment agreement with the Company; provided that either party could terminate on 90 days notice. Pursuant to the Prior SW Lease, the rental value of the villa was treated as imputed income to Mr. Wynn, and was 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 Prior SW Lease, the rental value was $503,831 per year. Effective March 1, 2012, the rental value was $440,000 per year. On May 7, 2013, Wynn Las Vegas, LLC entered into a 2013 Amended and Restated Agreement of Lease (the “Existing SW Lease”), effective December 29, 2012, to include an expansion of the villa and to adjust the rental value accordingly to $525,000 per year based on the current fair market value as established by the Audit Committee of the Company with the assistance of an independent third-party expert opinion of value. On November 7, 2013, Mr. Wynn and Wynn Las Vegas, LLC entered into a 2013 Second Amended and Restated Agreement of Lease (the “New SW Lease”) amending and restating the Existing SW Lease, effective as of November 5, 2013. The New SW Lease was approved by the Audit Committee of the Board of Directors of Wynn Resorts. Pursuant to the New SW Lease, effective as of November 5, 2013, Mr. Wynn will pay Wynn Las Vegas, LLC annual rent for the villa of $525,000, which amount was determined to be the fair market value of the accommodations based on a third-party expert opinion of value and which is consistent with the rental value under the Existing SW Lease. In addition, pursuant to the New SW Lease, the Company pays for all capital improvements to the villa and will reimburse Mr. Wynn for all amounts he previously paid the Company for capital improvements to the villa in 2012 and 2013. The rental value for the villa will be re-determined every two years during the term of the New SW Lease by the Audit Committee. Certain services for, and maintenance of, the villa are included in the rental. On February 25, 2015, Mr. Wynn and Wynn Las Vegas, LLC entered into the First Amendment to 2013 Second Amended and Restated Agreement of Lease, which increased the annual rent to $559,295 per year, effective as of March 1, 2015 through February 28, 2017. Home Purchase In May 2010, the Company entered into an employment agreement with Linda Chen, who is the Chief Operating Officer of Wynn Macau. The term of the employment agreement is through February 24, 2020. Under the terms of the employment agreement, the Company purchased a home in Macau for use by Ms. Chen and has made renovations to the home with total costs of $9.4 million through December 31, 2014. Upon the occurrence of certain events set forth below, Ms. Chen has the option to purchase the home at the then fair market value of the home (as determined by an independent appraiser) less a discount equal to ten percentage points multiplied by each anniversary of the term of the agreement that has occurred (the “Discount Percentage”). The option is exercisable for (a) no consideration at the end of the term, (b) $1.00 in the event of termination of Ms. Chen’s employment without “cause” or termination of Ms. Chen’s employment for “good reason” following a “change of control” and (c) at a price based on the applicable Discount Percentage in the event Ms. Chen terminates the agreement due to material breach by the Company. Upon Ms. Chen’s termination for “cause,” Ms. Chen will be deemed to have elected to purchase the Macau home based on the applicable Discount Percentage unless the Company determines to not require Ms. Chen to purchase the home. If Ms. Chen’s employment terminates for any other reason before the expiration of the term (e.g., because of her death or disability or due to revocation of gaming license), the option will terminate. Plane Option Agreement On January 3, 2013, the Company and Mr. Wynn entered into an agreement pursuant to which Mr. Wynn agreed to terminate a previously granted option to purchase an approximately two acre tract of land located on the Wynn Las Vegas golf course and, in return, the Company granted Mr. Wynn the right to purchase any or all of the aircraft owned by the Company or its direct wholly owned subsidiaries. The aircraft purchase option is exercisable upon 30 days written notice and at a price equal to the book value of such aircraft, and will terminate on the date of termination of the employment agreement between the Company and Mr. Wynn, which expires in October 2022. 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” surname 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” surname 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.

- Definition

The entire disclosure for related party transactions. 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.

+ References + Details

Property Charges and Other

12 Months Ended

Dec. 31, 2014

Text Block [Abstract]

Property Charges and Other

Property charges and other consisted of the following (in thousands):



	Years Ended December 31,
	2014		2013		2012
Net loss on assets abandoned/retired for remodel or sold	$	6,975	$	7,358	$	29,524
Donation to University of Macau Foundation	3,462		3,780		4,083
Loss on contract termination	—		6,000		315
Loss on show cancellation	—		—		6,056
	$	10,437	$	17,138	$	39,978

Property charges and other generally include costs related to the retirement of assets for remodels and asset abandonments. Property charges and other for the year ended December 31, 2014 include costs associated with the renovation of approximately 27,000 square feet of casino space at Wynn Macau for new VIP gaming rooms, partially offset for gain on sale of an aircraft. These new VIP gaming rooms opened in February 2015.

Property charges and other for the year ended December 31, 2013 include fees paid in connection with the termination of a contract, miscellaneous renovations and abandonments at our resorts and entertainment development costs.

Property charges and other for the year ended December 31, 2012 include the remodel of a Las Vegas restaurant, charges associated with the termination of a Las Vegas show that ended its run in November 2012, and miscellaneous renovations and abandonments at our resorts.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2014
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock The Company is authorized to issue up to 400,000,000 shares of its common stock, $0.01 par value per share (the “Common Stock”). As of December 31, 2014 and 2013, 101,439,297 shares and 101,192,408 shares, respectively, of the Company’s Common Stock were outstanding. Except as otherwise provided by the Company’s articles of incorporation or Nevada law, each holder of the Common Stock is entitled to one vote for each share held of record on each matter submitted to a vote of stockholders. Holders of the Common Stock have no cumulative voting, conversion, redemption or preemptive rights or other rights to subscribe for additional shares. Subject to any preferences that may be granted to the holders of the Company’s preferred stock, each holder of Common Stock is entitled to receive ratably such dividends as may be declared by the Board of Directors out of funds legally available therefore, as well as any distributions to the stockholders and, in the event of liquidation, dissolution or winding up of the Company, is entitled to share ratably in all assets of the Company remaining after payment of liabilities. The Board of Directors of Wynn Resorts has authorized an equity repurchase program of up to $1.7 billion. The repurchase program may include repurchases from time to time through open market purchases or negotiated transactions, depending upon market conditions. As of December 31, 2014, the Company had repurchased a cumulative total of 12,804,954 shares of the Company’s Common Stock for a net cost of $1.1 billion under the program. Under the repurchase program, there were no repurchases made during the years ended December 31, 2014, 2013 and 2012. During 2014, 2013 and 2012, the Company repurchased a total of 9,578 shares, 114,355 shares and 7,640 shares, respectively, in satisfaction of tax withholding obligations on vested restricted stock. In February 2014, May 2014 and August 2014, the Company paid a dividend of $1.25 per common share as part of a cash dividend program. In November 2014, the Company paid a dividend of $1.50 per common share as part of a cash dividend program and an additional cash dividend of $1.00 per share. Preferred Stock The Company is authorized to issue up to 40,000,000 shares of undesignated preferred stock, $0.01 par value per share (the “Preferred Stock”). As of December 31, 2014, the Company had not issued any Preferred Stock. The Board of Directors, without further action by the holders of Common Stock, may designate and issue shares of Preferred Stock in one or more series and may fix or alter the rights, preferences, privileges and restrictions, including the voting rights, redemption provisions (including sinking fund provisions), dividend rights, dividend rates, liquidation rates, liquidation preferences, conversion rights and the description and number of shares constituting any wholly unissued series of Preferred Stock. The issuance of such shares of Preferred Stock could adversely affect the rights of the holders of Common Stock. The issuance of shares of Preferred Stock under certain circumstances could also have the effect of delaying or preventing a change of control of the Company or other corporate action. Redemption of Securities Wynn Resorts’ articles of incorporation provide that, to the extent a gaming authority makes a determination of unsuitability or to the extent the Board of Directors determines, in its sole discretion, that a person is likely to jeopardize the Company or any affiliates application for, receipt of, approval for, right to the use of, or entitlement to, any gaming license, Wynn Resorts may redeem shares of its capital stock that are owned or controlled by an unsuitable person or its affiliates. The redemption price will be the amount, if any, required by the gaming authority or, if the gaming authority does not determine the price, the sum deemed by the Board of Directors to be the fair value of the securities to be redeemed. If Wynn Resorts determines the redemption price, the redemption price will be capped at the closing price of the shares on the principal national securities exchange on which the shares are listed on the trading day before the redemption notice is given. If the shares are not listed on a national securities exchange, the redemption price will be capped at the closing sale price of the shares as quoted on The NASDAQ Global Select Market or if the closing price is not reported, the mean between the bid and ask prices, as quoted by any other generally recognized reporting system. Wynn Resorts’ right of redemption is not exclusive of any other rights that it may have or later acquire under any agreement, its bylaws or otherwise. The redemption price may be paid in cash, by promissory note, or both, as required, and pursuant to the terms established by, the applicable Gaming Authority and, if not, as the Board of Directors of Wynn Resorts elects. Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, Wynn Resorts redeemed and canceled Aruze’s 24,549,222 shares of Wynn Resorts’ common stock. For more information, refer to Note 17 “Commitments and Contingencies”.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Noncontrolling Interest	12 Months Ended
Noncontrolling Interest	Dec. 31, 2014
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 shares, 27.7% of this subsidiary’s common stock (the “Wynn Macau Limited IPO”). The shares of Wynn Macau, Limited were not and will not be registered under the Securities Act and may not be offered or sold in the United States absent a registration under the Securities Act, or an applicable exception from such registration requirements. Net income attributable to noncontrolling interest was $231.1 million, $275.5 million and $226.7 million for the years ended December 31, 2014, 2013 and 2012, respectively. On September 23, 2014, Wynn Macau, Limited paid a dividend of HK$0.70 per share for a total of $469.2 million. The Company’s share of this dividend was $338.7 million with a reduction of $130.6 million to noncontrolling interest in the accompanying Consolidated Balance Sheets. On June 6, 2014, Wynn Macau, Limited paid a dividend of HK$0.98 per share for a total of $655.8 million. The Company’s share of this dividend was $474.0 million with a reduction of $181.8 million to noncontrolling interest in the accompanying Consolidated Balance Sheets. On September 23, 2013, Wynn Macau, Limited paid a dividend of HK$0.50 per share for a total of $334.5 million. The Company’s share of this dividend was $241.8 million with a reduction of $92.7 million to noncontrolling interest in the accompanying Consolidated Balance Sheets. On June 6, 2013, Wynn Macau, Limited paid a dividend of HK$1.24 per share for a total of $828.6 million. The Company's share of this dividend was $599.1 million with a reduction of $229.6 million to noncontrolling interest in the accompanying Consolidated Balance Sheets.

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	Benefit Plans Defined contribution plans The Company established a retirement savings plan under Section 401(k) of the Internal Revenue Code covering its U.S. non-union employees in July 2000. The plan allows employees to defer, within prescribed limits, a percentage of their income on a pre-tax basis through contributions to this plan. For the 2014 plan year, the Company matched 50% of employee contributions, up to 6% of employees’ eligible compensation, with a one-time annual matching cap of $750 per employee. The company expensed $2.0 million related to this match for the year ended December 31, 2014. For the 2013 plan year, the Company matched 50% of employee contributions, up to 6% of employees’ eligible compensation, with a one-time annual matching cap of $500 per employee. The company expensed $1.2 million related to this match for the year ended December 31, 2013. The Company suspended matching contributions to this plan effective March 2009 and did not record any expense for matching contributions for the year ended December 31, 2012. Wynn Macau also operates a defined contribution retirement benefits plan (the “Wynn Macau Plan”). Eligible employees are allowed to contribute 5% of their salary to the Wynn Macau Plan and the Company matches any contributions. The assets of the Wynn Macau Plan are held separately from those of the Company in an independently administered fund. The Company’s matching contributions vest to the employee at 10% per year with full vesting in ten years. Forfeitures of unvested contributions are used to reduce the Company’s liability for its contributions payable. During the years ended December 31, 2014, 2013 and 2012, the Company recorded an expense for matching contributions of $8.7 million, $7.5 million and $7.1 million, respectively. Multi-employer pension plan Wynn Las Vegas contributes to a multi-employer defined benefit pension plan for certain of its union employees under the terms of the Southern Nevada Culinary and Bartenders Union collective-bargaining agreement. The collective-bargaining agreement that covers these union-represented employees expires in 2016. The legal name of the multi-employer pension plan is the Southern Nevada Culinary and Bartenders Pension Plan (the “Plan”) (EIN: 88-6016617 Plan Number: 1). The Company recorded an expense of $9.2 million, $9.0 million and $8.6 million for contributions to the Plan for the years ended December 31, 2014, 2013 and 2012, respectively. For the 2013 plan year, the most recent for which plan data is available, the Company’s contributions were identified by the Plan to exceed 5% of total contributions for that year. Based on information the Company received from the Plan, it was certified to be in neither endangered nor critical status for the 2013 plan year. Risks of participating in a multi-employer plan differs from single-employer plans for the following reasons: (1) assets contributed to a multi-employer plan by one employer may be used to provide benefits to employees of other participating employers; (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (3) if a participating employer stops participating, it may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Wynn Resorts, Limited

The Company's 2002 Stock Incentive Plan, as amended and restated (the "WRL 2002 Plan"), allowed it to grant stock options and nonvested shares of Wynn Resorts, Limited's common stock to eligible directors, officers, employees, and consultants of the Company. Under the WRL 2002 Plan, a maximum of 12,750,000 shares of the Company's common stock was reserved for issuance.

On May 16, 2014, the Company adopted the Wynn Resorts, Limited 2014 Omnibus Incentive Plan (the "Omnibus Plan") after approval from its stockholders. The Omnibus Plan allows for the grant of stock options, restricted stock, restricted stock units, stock appreciation rights, performance awards and other share-based awards to the same eligible participants as the WRL 2002 Plan. Under the approval of the Omnibus Plan, no new awards may be made under the WRL 2002 Plan. The outstanding awards under the WRL 2002 Plan were transferred to the Omnibus Plan and will remain pursuant to their existing terms and related award agreements. The Company reserved 4,409,390 shares of its common stock for issuance under the Omnibus Plan. These shares were transferred from the remaining available amount under the WRL 2002 Plan.

The Omnibus Plan is administered by the Compensation Committee (the "Committee") of the Wynn Resorts, Limited Board of Directors. The Committee has discretion under the Omnibus Plan regarding which type of awards to grant, the vesting and service requirements, exercise price and other conditions, in all cases subject to certain limits. For stock options, the exercise price of stock options must be at least equal to the fair market value of the stock on the date of grant and the maximum term of such an award is 10 years.

As of December 31, 2014, the Company had an aggregate of 4,407,390 shares of its common stock available for grant as share-based awards under the Omnibus Plan.

Stock Options

The summary of stock option activity under the plans for the year ended December 31, 2014 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2014	1,606,309		$	75.89
Granted	25,800		$	201.22
Exercised	(211,133	)	$	52.51
Forfeited or expired	(40,000	)	$	140.36
Outstanding at December 31, 2014	1,380,976		$	79.93	4.34	$	96,400,313
Fully vested and expected to vest at December 31, 2014	1,260,693		$	78.98	4.39	$	89,241,158
Exercisable at December 31, 2014	355,610		$	65.10	4.78	$	29,751,409

The following is provided for stock option exercises from the plans (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2014		2013		2012
Weighted average grant date fair value	$	29.29	$	39.93	$	33.03
Intrinsic value	$	30,485	$	33,830	$	22,416
Cash received	$	11,086	$	20,436	$	15,583
Tax benefits realized	$	8,506	$	6,362	$	4,903

As of December 31, 2014, there was a total of $24.4 million of unamortized compensation related to stock options, which is expected to be recognized over a weighted-average period of 3.1 years.

Nonvested shares

The summary of nonvested share activity under the plans for the year ended December 31, 2014 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2014	397,500		$	113.13
Granted	54,500		209.92
Vested	(52,834	)	178.48
Forfeited	(9,166	)	104.79
Nonvested at December 31, 2014	390,000		$	118.00

The following is provided for the share award vesting from the plans (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2014		2013		2012
Weighted average grant date fair value	$	178.48	$	125.56	$	110.04
Fair value of shares vested	$	9,430	$	36,328	$	15,653
Tax benefits realized	$	870	$	4,112	$	634

As of December 31, 2014, there was a total of $22.7 million of unamortized compensation related to nonvested shares, which is expected to be recognized over a weighted-average period of 3.0 years.

Wynn Macau, Limited

The Company’s majority owned subsidiary Wynn Macau, Limited has two stock-based compensation plans which provide awards based on shares of Wynn Macau, Limited's common stock. The shares available for issuance under these plans are separate and distinct from the common stock of Wynn Resorts, Limited's share plan and are not available for issuance for any awards under the Wynn Resorts, Limited share plan.

Share Option Plan

Wynn Macau, Limited adopted a stock incentive plan effective September 16, 2009 for the grant of stock options to purchase shares of Wynn Macau, Limited to eligible directors and employees of its subsidiaries (the "Share Option Plan"). The Share Option Plan is administered by Wynn Macau, Limited's Board of Directors, which have the discretion on the vesting and service requirements, exercise price, performance targets to exercise if applicable and other conditions, subject to certain limits. A maximum of 518,750,000 shares have been reserved for issuance under the Share Option Plan.

The summary of stock option activity under the plan for the year ended December 31, 2014 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2014	2,910,000		$	2.44
Granted	644,000		$	4.00
Exercised	(464,000	)	$	1.66
Outstanding at December 31, 2014	3,090,000		$	2.88	7.5	$	—
Fully vested and expected to vest at December 31, 2014	3,090,000		$	2.88	7.5	$	—
Exercisable at December 31, 2014	990,000		$	2.37	6.5	$	505,273

The following is provided for stock option exercises from the Share Option Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2014		2013		2012
Weighted average grant date fair value	$	1.66	$	0.78	$	0.78
Intrinsic value	$	1,134	$	—	$	—
Cash received	$	773	$	—	$	—

As of December 31, 2014, there was a total of $1.3 million of unamortized compensation related to stock options, which is expected to be recognized over a weighted-average period of 3.4 years.

Share Award Plan

On June 30, 2014, the Company's majority-owned subsidiary Wynn Macau, Limited approved and adopted the Wynn Macau, Limited Employee Ownership Scheme (the "Share Award Plan"). The Share Award Plan allows for the grant of nonvested shares of Wynn Macau, Limited's common stock to eligible employees. The Share Award Plan is administered by Wynn Macau, Limited's Board of Directors and has been mandated under the plan to allot, issue and procedure the transfer of a maximum of 50,000,000 shares. The Board of Directors have discretion on the vesting and service requirements, exercise price and other conditions, subject to certain limits.

The summary of nonvested share activity under the Share Award Plan for the year ended December 31, 2014 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2014	—		—
Granted	8,019,000		$	3.81
Vested	—		—
Forfeited	(276,000	)	$	3.81
Nonvested at December 31, 2014	7,743,000		$	3.81

As of December 31, 2014, no shares have vested under the Share Award Plan.

Compensation Cost

The total compensation cost for stock-based compensation plans are allocated as follows (in thousands):



	Years Ended December 31,
	2014		2013		2012
Casino	$	8,360	$	4,791	$	4,794
Rooms	216		853		313
Food and beverage	753		1,202		178
Entertainment, retail and other	55		477		43
General and administrative	29,770		32,214		14,320
Pre-opening costs	42		—		—
Total stock-based compensation expense	39,196		39,537		19,648
Total stock-based compensation capitalized	5,710		195		195
Total stock-based compensation costs	$	44,906	$	39,732	$	19,843

During 2014, the Company recognized an incremental $17.9 million of stock-based compensation expense associated with the equity portion of 2014 annual performance awards for our executive management. These equity awards consist of immediately vested restricted stock granted in January 2015.

During the first quarter of 2014, the Company capitalized $5.5 million of stock-based compensation into construction for a restricted stock award granted which immediately vested. The restricted stock award was granted to an employee of the Company's design, development and construction subsidiary and will be amortized over the useful life of the related asset.

During the second quarter of 2013, the Company recognized $23.0 million of stock-based compensation expense due to the retirement of the Company's former chief operating officer and the related accelerated vesting of shares previously granted to him.

The Company uses the Black-Scholes valuation model to determine the estimated fair value for stock options with highly subjective assumptions, changes in which could materially affect the estimated fair value. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. Expected volatility is based on implied and historical factors related to the Company’s common stock. The risk-free interest rate used for each period presented is based on the U.S. Treasury yield curve for stock options issued under the Wynn Resorts, Limited's plans and the Hong Kong Exchange Fund rates for stock options issued under the Share Option Plan, both at the time of grant for the period equal to the expected term. Expected term represents the weighted average time between the option’s grant date and its exercise date. The Company used historical award exercise activity and termination activity in estimating the expected term for the Wynn Resorts, Limited plans. The Company uses the simplified method for estimating the expected term for Wynn Macau, Limited's Share Option Plan.

The fair value of stock options granted under Wynn Resorts, Limited's stock-based compensation plans were estimated on the date of grant using the following weighted-average assumptions:



	Years Ended December 31,
	2014		2013		2012
Expected dividend yield	4.0	%	3.0	%	4.0	%
Expected volatility	43.3	%	39.4	%	48.8	%
Risk-free interest rate	1.6	%	1.1	%	1.2	%
Expected term (years)	6.5		6.7		7.0

The fair value of stock options granted under Wynn Macau, Limited's Share Option Plan was estimated on the date of grant using the following weighted-average assumptions:



	Years Ended December 31,
	2014		2013		2012
Expected dividend yield	5.0	%	5.0	%	4.0	%
Expected stock price volatility	40.9	%	43.3	%	49.0	%
Risk-free interest rate	1.1	%	0.6	%	0.7	%
Expected term (years)	6.5		6.5		6.5

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Consolidated income (loss) before taxes for domestic and foreign operations consisted of the following (in thousands):



	Years Ended December 31,
	2014		2013			2012
Domestic	$	122,974	$	(9,935	)	$	(87,122	)
Foreign	835,888		996,458			820,120
Total	$	958,862	$	986,523		$	732,998

The income tax (benefit) provision attributable to income before income taxes is as follows (in thousands):



	Years Ended December 31,
	2014			2013			2012
Current
Federal	$	2,260		$	135		$	5,912
Foreign	2,043			2,057			2,042
	$	4,303		$	2,192		$	7,954
Deferred
Federal	$	(13,286	)	$	(19,826	)	$	(3,655	)
State	4,094			—			—
Foreign	1,107			—			—
	(8,085		)	(19,826		)	(3,655		)
Total	$	(3,782	)	$	(17,634	)	$	4,299

The income tax (benefit) provision differs from that computed at the federal statutory corporate tax rate as follows:



	Years Ended December 31,
	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign tax rate differential	(19.1	)%	(23.1	)%	(25.6	)%
Non-taxable foreign income	(13.1	)%	(13.4	)%	(15.4	)%
Foreign tax credits, net of valuation allowance	(95.2	)%	(89.3	)%	1.7	%
Repatriation of foreign earnings	88.0	%	87.2	%	0.0	%
Other, net	2.9	%	1.9	%	3.6	%
Valuation allowance, other	1.1	%	(0.1	)%	1.3	%
Effective tax rate	(0.4	)%	(1.8	)%	0.6	%

On November 30, 2010, Wynn Macau SA received an exemption from Macau’s 12% Complementary Tax on casino gaming profits, thereby exempting the casino gaming profits of Wynn Macau SA through December 31, 2015. Accordingly for the years ended December 31, 2014, 2013, and 2012, the Company was exempted from the payment of $99.4 million, $107.3 million and $87.1 million in such taxes or $0.98, $1.06 and $0.84 per share, respectively. The Company’s non-gaming profits remain subject to the Macau Complementary Tax and its casino winnings remain subject to the Macau Special Gaming tax and other levies in accordance with its concession agreement.

In July of 2011, Wynn Macau SA received an extension of its agreement with the Macau Special Administrative Region that provides for an annual payment of MOP $15.5 million (approximately $1.9 million U.S. dollars) as complementary tax otherwise due by shareholders of Wynn Macau SA on dividend distributions through 2015. As a result of the shareholder dividend tax agreements, income tax expense includes $1.9 million for each of the years ended December 31, 2014, 2013 and 2012, respectively.

The Macau special gaming tax is 35% of gross gaming revenue. U.S. tax laws only allow a foreign tax credit up to 35% of “net” foreign source income. In February 2010, the Company and the IRS entered into a Pre-Filing Agreement (“PFA”) providing that the Macau Special Gaming Tax qualifies as a tax paid in lieu of an income tax and could be claimed as a U.S. foreign tax credit.

During 2014 and 2013, the Company recognized tax benefits of $895.0 million and $879.7 million, respectively (net of valuation allowance and uncertain tax positions), for foreign tax credits generated applicable to the earnings of Wynn Macau SA. During 2012, the Company did not repatriate any earnings of Wynn Macau SA and consequently did not generate foreign tax credits in that year.

Accounting standards require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied. During 2014 and 2013, the aggregate valuation allowance for deferred tax assets increased by $709.8 million and $755.5 million, respectively. The 2014 and 2013 increases are primarily related to foreign tax credit carryforwards and other foreign deferred tax assets that are not considered more likely than not realizable.

The Company recorded tax benefits resulting from the exercise of nonqualified stock options and the value of vested restricted stock and accrued dividends of $9.4 million, $10.5 million and $5.5 million as of December 31, 2014, 2013 and 2012, respectively, in excess of the amounts reported for such items as compensation costs under accounting standards related to stock-based compensation. The Company uses a with-and-without approach to determine if the excess tax deductions associated with compensation costs have reduced income taxes payable.

The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (in thousands):



	As of December 31,
	2014			2013
Deferred tax assets—U.S.:
Current:
Receivables, inventories, accrued liabilities and other	$	48,093		$	36,556
Less: valuation allowance	(45,992		)	(34,347		)
	2,101			2,209
Long-term:
Foreign tax credit carryforwards	3,283,669			2,614,665
Intangibles and related other	27,201			26,324
Stock based compensation	16,972			10,736
Pre-opening costs	10,876			12,884
Other	10,540			11,341
	3,349,258			2,675,950
Less: valuation allowance	(3,202,971		)	(2,514,258		)
	146,287			161,692
Deferred tax liabilities—U.S.:
Current:
Prepaid insurance, maintenance and taxes	(6,948		)	(6,243		)
Long-term:
Property and equipment	(170,405		)	(176,036		)
Deferred tax assets—Foreign:
Current:
Accrued liabilities	173			164
Less: valuation allowance	(173		)	(164		)
	—			—
Long-term:
Net operating loss carryforwards	16,797			13,701
Property and equipment	22,740			17,441
Pre-opening costs	7,396			3,040
Other	1,930			4,074
Less: valuation allowance	(47,653		)	(38,256		)
	1,210			—
Deferred tax liabilities—Foreign:
Long-term:
Property and equipment	(2,317		)	—
Net deferred tax liability	$	(30,072	)	$	(18,378	)

As of December 31, 2014, the Company had foreign tax credit carryforwards (net of uncertain tax positions) of $3,283.7 million. Of this amount, $619.6 million will expire in 2018, $110.9 million will expire in 2019, $530.4 million in 2020, $540.3 million in 2021, $757.0 million in 2023 and $725.5 million in 2024. The Company has no U.S. tax loss carryforwards. The Company incurred foreign tax losses of $59.6 million, $75.0 million and $79.1 million during the tax years ended December 31, 2014, 2013 and 2012, respectively. These foreign tax loss carryforwards expire in 2017, 2016 and 2015, respectively. The Company incurred a U.S. capital loss of $3.6 million during the year ended December 31, 2011. The U.S. capital loss carryforward will expire in 2016.

In assessing the need for a valuation allowance, the Company does not currently consider forecasted future operating results when scheduling the realization of deferred tax assets and the required valuation allowance but instead relies on the reversal of net taxable temporary differences. The valuation allowance for foreign tax credits was determined by scheduling the existing U.S. taxable temporary differences that are expected to reverse and result in “net” foreign source income during the 10-year foreign tax credit carryover period.

As of December 31, 2014 and 2013, the Company had valuation allowances of $3,242.1 million and $2,542.8 million, respectively, provided on foreign tax credits expected to expire unutilized and valuation allowances of $6.9 million and $5.8 million provided on other U.S. deferred tax assets. As of December 31, 2014 and 2013, the Company had a valuation allowance of $47.8 million and $38.4 million, respectively, provided on its foreign deferred tax assets.

Except for $198.6 million of accumulated earnings which the Company plans on repatriating, the Company has not provided deferred U.S. income taxes or foreign withholding taxes on temporary differences of $412.1 million and $388.1 million as of December 31, 2014 and 2013, respectively, which are indefinitely reinvested and will be used to fund future operations or expansion. The amount of the unrecognized deferred tax liability associated with these temporary differences is approximately $144.2 million and $135.8 million for the years ended December 31, 2014 and 2013. Deferred income taxes, net of foreign tax credits, are provided for foreign earnings planned for repatriation. For the years ended December 31, 2014 and 2013, the Company repatriated $1,125.3 million and $840.9 million from Wynn Macau, Limited. The amounts repatriated were used to fund domestic operations, to provide additional U.S. liquidity, and to fund dividends to the Company’s shareholders.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):



	As of December 31,
	2014			2013			2012
Balance—beginning of year	$	89,544		$	84,289		$	85,498
Increases based on tax positions of the current year	3,297			8,360			8,140
Increases based on tax positions of prior years	322			—			—
Decreases for tax positions of prior years	(867		)	—			—
Settlements with taxing authorities	(997		)	—			—
Lapses in statutes of limitations	(2,415		)	(3,105		)	(9,349		)
Balance—end of year	$	88,884		$	89,544		$	84,289

As of December 31, 2014, 2013, and 2012, unrecognized tax benefits of $88.9 million, $60.3 million and $55.2 million, respectively, were recorded as reductions in deferred income taxes, net. As of December 31, 2013 and 2012, unrecognized tax benefits of $29.2 million and $29.1 million, respectively, were recorded in other long-term liabilities. The Company had no unrecognized tax benefits recorded in other long-term liabilities as of December 31, 2014. As a result of the adoption of accounting guidance in 2014, the Company reclassified unrecognized tax benefits in other long-term liabilities to deferred income taxes, net. See Note 2 "Summary of Significant Accounting Policies" for further discussion on adoption of accounting guidance.

As of December 31, 2014, 2013 and 2012, $20.7 million, $20.7 million and $18.8 million, respectively, of unrecognized tax benefits would, if recognized, impact the effective tax rate.

The Company recognizes penalties and interest related to unrecognized tax benefits in the provision for income taxes. During the years ended December 31, 2014, 2013 and 2012, the Company recognized interest and penalties of $0.0 million, $0.0 million and $0.3 million, respectively.

The Company anticipates that the 2010 statute of limitations will expire in the next 12 months for certain foreign tax jurisdictions. Also, the Company’s unrecognized tax benefits include certain income tax accounting methods. These accounting methods govern the timing and deductibility of income tax deductions. As a result, the Company’s unrecognized tax benefits could decrease by a range of $0.0 million to $0.6 million over the next 12 months.

The Company files income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. The Company’s income tax returns are subject to examination by the IRS and other tax authorities in the locations where it operates. The Company’s 2002 to 2010 domestic income tax returns remain subject to examination by the IRS to the extent of tax attributes carryforwards to future years. The Company’s 2011 to 2013 domestic income tax returns also remain subject to examination by the IRS. The Company’s 2010 to 2013 Macau income tax returns remain subject to examination by the Macau Financial Services Bureau.

In April 2012, the Company reached an agreement with the Appellate division of the IRS regarding issues raised during the examination of the 2006 through 2009 U.S. income tax returns. The settlement with the Appellate division did not impact the Company’s unrecognized tax benefits. The settlement of the 2006 through 2009 examination issues resulted in a cash tax payment of $1.3 million and the utilization of $3.1 million and $0.9 million in foreign tax credit and general business credit carryforwards, respectively.

During December 2012, the IRS completed an examination of the Company’s 2010 U.S. income tax return and had no changes. In May 2013, the Company received notification that the IRS completed its examination of the Company’s 2011 U.S. income tax return and had no changes.

For tax year 2012, the Company participated in the IRS Compliance Assurance Program (“CAP”) which accelerates IRS examination of key transactions with the goal of resolving any issues before the taxpayer files its return. In February 2014, the Company received notification that the IRS completed its examination of the Company's 2012 U.S. income tax return and had no changes.

In March 2013 and in December 2013, the Company received notification that it had been selected for the Compliance Maintenance phase of CAP for the 2013 and 2014 tax years, respectively. In the Compliance Maintenance phase, the IRS, at its discretion, may reduce the level of review of the taxpayer’s tax positions based on the complexity and number of issues, and the taxpayer’s history of compliance, cooperation and transparency in the CAP. The Company does not expect a change in its unrecognized tax benefits as a result of the completion of these examinations.

In December 2014, the Company received notification that it was accepted into the Compliance Maintenance phase of CAP for the 2015 tax year.

In July 2012, the Macau Financial Services Bureau commenced an examination of the 2008 Macau income tax return of Wynn Macau SA. In November 2012, the Company received the results of the examination. While no additional tax was due, adjustments were made to the Company’s foreign net operating loss carryforwards.

In January 2013, the Macau Financial Services Bureau examined the 2009 and 2010 Macau income tax returns of Palo, which is a co-holder of the land concession for Wynn Palace. The exam resulted in no change to the tax returns.

In March 2013, the Macau Financial Services Bureau commenced an examination of the 2009, 2010, and 2011 Macau income tax returns of Wynn Macau SA. In December 2014, Wynn Macau SA reached an agreement with the Macau Financial Services Bureau regarding issues raised during its examination. While no additional tax was due as a result of the examination, adjustments were made to the Company's foreign net operating loss carryforwards.

On December 31, 2014, the statute of limitations for the 2009 Macau Complementary tax return expired. As a result of the exam settlement and the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $3.4 million.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Cotai Development and Land Concession Contract

The Company is currently constructing Wynn Palace, an integrated resort containing a 1,700-room hotel, performance lake, meeting space, casino, spa, retail offerings, and food and beverage outlets in the Cotai area of Macau.

In September 2011, Wynn Macau SA and Palo, formally accepted the terms and conditions of a land concession contract from the Macau government for approximately 51 acres of land in the Cotai area of Macau. On May 2, 2012, the land concession contract was gazetted by the government of Macau evidencing the final step in the granting of the land concession. The initial term of the land concession contract is 25 years from May 2, 2012, and it may be renewed with government approval for successive periods. The total land premium payable, including interest as required by the land concession contract, is $193.4 million. An initial payment of $62.5 million was paid in December 2011, with eight additional semi-annual payments of approximately $16.4 million each (which includes interest at 5%) due beginning November 2012. As of December 31, 2014 and 2013, the Company has recorded this obligation with $30.8 million and $29.3 million included as a current liability, respectively, and $16.0 million and $46.8 million, respectively, included as a long-term liability. The Company is also required to make annual lease payments of $0.8 million during the resort construction period and annual payments of approximately $1.1 million once the development is completed.

On July 29, 2013, Wynn Macau SA and Palo finalized and executed a guaranteed maximum price construction (“GMP”) contract with Leighton Contractors (Asia) Limited, acting as the general contractor. Under the GMP contract, the general contractor is responsible for both the construction and design of the Wynn Palace project. The general contractor is obligated to substantially complete the project in the first half of 2016 for a guaranteed maximum price of HK $20.0 billion (approximately $2.6 billion). An early completion bonus for achievement of substantial completion on or before January 25, 2016 will be paid to the general contractor if certain conditions are satisfied under the GMP contract. While the Company's general contractor has notified it that certain conditions will not be satisfied under the GMP contract by the early completion target, the contractor stated it was still on target to complete the project on time and the Company continues to expect to open the property in the first half of 2016. Both the contract time and guaranteed maximum price are subject to further adjustment under certain specified conditions. The performance of the general contractor is backed by a full completion guarantee given by Leighton Holdings Limited, the parent company of the general contractor, as well as a performance bond for 5% of the guaranteed maximum price.

As of December 31, 2014, the Company incurred approximately $1.8 billion of the approximately $4.1 billion in total project budget costs. The total project budget includes all construction costs, capitalized interest, pre-opening expenses, land costs and financing fees. The Company expects to open Wynn Palace in the first half of 2016.

Leases and other arrangements

The Company is the lessor under several retail leases and has entered into license and distribution agreements for several additional retail outlets. The Company also is a party to joint venture agreements for the operation of one retail outlet and the Ferrari and Maserati automobile dealership at Wynn Las Vegas. The lease agreements include minimum base rents with contingent rental clauses.

The following table presents the future minimum rentals to be received under the operating leases (in thousands):



Years Ending December 31,
2015	$	46,837
2016	63,065
2017	55,603
2018	34,546
2019	30,122
Thereafter	44,542
	$	274,715

The total future minimum rentals do not include contingent rental. Contingent rentals were $87.8 million, $101.0 million and $94.0 million for the years ended December 31, 2014, 2013, and 2012, respectively.

In addition, the Company is the lessee under leases for office space in Las Vegas, Macau and certain other locations, warehouse facilities, the land underlying the Company’s aircraft hangar and certain office equipment.

At December 31, 2014, the Company was obligated under non-cancelable operating leases to make future minimum lease payments as follows (in thousands):



Years Ending December 31,
2015	$	12,618
2016	12,684
2017	8,482
2018	8,359
2019	8,436
Thereafter	31,088
	$	81,667

Rent expense for the years ended December 31, 2014, 2013 and 2012, was $26.1 million, $21.9 million and $21.5 million, respectively.

Employment Agreements

The Company has entered into employment agreements with several executive officers, other members of management and certain key employees. These agreements generally have three- to five-year terms and typically indicate a base salary and often contain provisions for discretionary bonuses. Certain of the executives are also entitled to a separation payment if terminated without “cause” or upon voluntary termination of employment for “good reason” following a “change of control” (as these terms are defined in the employment contracts).

Letters of Credit

As of December 31, 2014, the Company had outstanding letters of credit of $8.9 million.

Litigation

In addition to the actions noted below, the Company’s affiliates are involved in litigation arising in the normal course of business. In the opinion of management, such litigation is not expected to have a material effect on the Company’s financial condition, results of operations or cash flows.

Determination of Unsuitability and Redemption of Aruze and Affiliates

On February 18, 2012, Wynn Resorts’ Gaming Compliance Committee received an independent report by Freeh, Sporkin & Sullivan, LLP (the “Freeh Report”) detailing a pattern of misconduct by the Okada Parties. The factual record presented in the Freeh Report included evidence that the Okada Parties had provided valuable items to certain foreign gaming officials who were responsible for regulating gaming in a jurisdiction in which entities controlled by Mr. Okada were developing a gaming resort. Mr. Okada denied the impropriety of such conduct to members of the Board of Directors of Wynn Resorts and, while serving as one of the Company’s directors, Mr. Okada refused to acknowledge or abide by Wynn Resorts’ anti-bribery policies and refused to participate in the training all other directors received concerning these policies.

Based on the Freeh Report, the Board of Directors of Wynn Resorts determined that the Okada Parties are “unsuitable persons” under Article VII of the Company’s articles of incorporation. The Board of Directors was unanimous (other than Mr. Okada) in its determination. After authorizing the redemption of the Aruze shares, as discussed below, the Board of Directors took certain actions to protect the Company and its operations from any influence of an unsuitable person, including placing limitations on the provision of certain operating information to unsuitable persons and formation of an Executive Committee of the Board to manage the business and affairs of the Company during the period between each annual meeting. The Charter of the Executive Committee provides that “Unsuitable Persons” are not permitted to serve on the Committee. All members of the Board, other than Mr. Okada, were appointed to the Executive Committee on February 18, 2012. The Board of Directors also requested that Mr. Okada resign as a director of Wynn Resorts (under Nevada corporation law, a board of directors does not have the power to remove a director) and recommended that Mr. Okada be removed as a member of the Board of Directors of Wynn Macau, Limited. On February 18, 2012, Mr. Okada was removed from the Board of Directors of Wynn Las Vegas Capital Corp., an indirect wholly owned subsidiary of Wynn Resorts. On February 24, 2012, Mr. Okada was removed from the Board of Directors of Wynn Macau, Limited and on February 22, 2013, he was removed from the Board of Directors of Wynn Resorts by a stockholder vote in which 99.6% of the over 86 million shares voted were cast in favor of removal. Mr. Okada resigned from the Board of Directors of Wynn Resorts on February 21, 2013. Although the Company has retained the structure of the Executive Committee, the Board has resumed its past role in managing the business and affairs of the Company.

Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, Wynn Resorts redeemed and canceled Aruze’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Article VII of Wynn Resorts’ articles of incorporation authorizes redemption at “fair value” of the shares held by unsuitable persons. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares held by Aruze under the terms of the Stockholders Agreement (as defined below). Pursuant to its articles of incorporation, Wynn Resorts issued the Redemption Note to Aruze in redemption of the shares. The Redemption Note has a principal amount of $1.94 billion, matures on February 18, 2022, and bears interest at the rate of 2% per annum, payable annually in arrears on each anniversary of the date of the Redemption Note. The Company may, in its sole and absolute discretion, at any time and from time to time, and without penalty or premium, prepay the whole or any portion of the principal or interest due under the Redemption Note. In no instance shall any payment obligation under the Redemption Note be accelerated except in the sole and absolute discretion of Wynn Resorts or as specifically mandated by law. The indebtedness evidenced by the Redemption Note is and shall be subordinated in right of payment, to the extent and in the manner provided in the Redemption Note, to the prior payment in full of all existing and future obligations of Wynn Resorts or any of its affiliates in respect of indebtedness for borrowed money of any kind or nature.

The Company provided the Freeh Report to appropriate regulators and law enforcement agencies and has been cooperating with related investigations that such regulators and agencies have undertaken. The conduct of the Okada Parties and any resulting regulatory investigations could have adverse consequences to the Company and its subsidiaries. A finding by regulatory authorities that Mr. Okada violated anti-corruption statutes and/or other laws or regulations applicable to persons affiliated with a gaming licensee on Company property and/or otherwise involved the Company in criminal or civil violations could result in actions by regulatory authorities against the Company and its subsidiaries.

Redemption Action and Counterclaim

On February 19, 2012, Wynn Resorts filed a complaint in the Eighth Judicial District Court, Clark County, Nevada against the Okada Parties (as amended, the “Complaint”), alleging breaches of fiduciary duty and related claims (the “Redemption Action”) arising from the activities addressed in the Freeh Report. The Company is seeking compensatory and special damages as well as a declaration that it acted lawfully and in full compliance with its articles of incorporation, bylaws and other governing documents in redeeming and canceling the shares of Aruze.

On March 12, 2012, the Okada Parties removed the action to the United States District Court for the District of Nevada (the action was subsequently remanded to Nevada state court). On that same date, the Okada Parties filed an answer denying the claims and a counterclaim (as amended, the “Counterclaim”) that purports to assert claims against the Company, each of the members of the Company’s Board of Directors (other than Mr. Okada) and Wynn Resorts’ General Counsel (the “Wynn Parties”). The Counterclaim alleges, among other things: (1) that the shares of Wynn Resorts common stock owned by Aruze were exempt from the redemption-for-unsuitability provisions in the Wynn Resorts articles of incorporation (the “Articles”) pursuant to certain agreements executed in 2002; (2) that the Wynn Resorts directors who authorized the redemption of Aruze’s shares acted at the direction of Stephen A. Wynn and did not independently and objectively evaluate the Okada Parties’ suitability, and by so doing, breached their fiduciary duties; (3) that the Wynn Resorts directors violated the terms of the Wynn Resorts Articles by failing to pay Aruze fair value for the redeemed shares; and (4) that the terms of the Redemption Note that Aruze received in exchange for the redeemed shares, including the Redemption Note’s principal amount, duration, interest rate, and subordinated status, were unconscionable. Among other relief, the Counterclaim seeks a declaration that the redemption of Aruze’s shares was void, an injunction restoring Aruze’s share ownership, damages in an unspecified amount and rescission of the Amended and Restated Stockholders Agreement, dated as of January 6, 2010, by and among Aruze, Stephen A. Wynn, and Elaine Wynn (the “Stockholders Agreement”).

On June 19, 2012, Elaine Wynn asserted a cross claim against Stephen A. Wynn and Aruze seeking a declaration that (1) any and all of Elaine Wynn’s duties under the Stockholders Agreement shall be discharged; (2) the Stockholders Agreement is subject to rescission and is rescinded; (3) the Stockholders Agreement is an unreasonable restraint on alienation in violation of public policy; and/or (4) the restrictions on sale of shares shall be construed as inapplicable to Elaine Wynn. The indenture for Wynn Las Vegas, LLC's 4 1/4% Senior Notes due 2023 (the "2023 Indenture") provides that if Stephen A. Wynn, together with certain related parties, in the aggregate beneficially owns a lesser percentage of the outstanding common stock of the Company than are beneficially owned by any other person, a change of control will have occurred. The indenture for Wynn Las Vegas, LLC's 5 1/2% Senior Notes due 2025 (the "2025 Indenture") provides that if any event constitutes a "change of control" under the 2023 Indenture, it will constitute a change of control under the 2025 Indenture. If Elaine Wynn prevails in her cross claim, Stephen A. Wynn would not beneficially own or control Elaine Wynn’s shares, which could increase the likelihood that a change in control may occur under the Wynn Las Vegas debt documents. Under the 2023 Indenture and the 2025 Indenture, if a change of control occurs and within 60 days after that occurrence, the 4 1/4% Senior Notes due 2023 or the 5 1/2% Senior Notes due 2025, as applicable, are rated below investment grade by both rating agencies that rate such notes, the Company is required to make an offer to each applicable holder to repurchase all or any part of such holder’s notes at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest on the notes purchased, if any, to the date of repurchase (unless the notes have been previously called for redemption). Mr. Wynn is opposing Ms. Wynn’s cross claim.

The Company’s Complaint and the Okada Parties’ Counterclaim have been, and continue to be, challenged through motion practice. At a hearing held on November 13, 2012, the Nevada state court granted the Wynn Parties’ motion to dismiss the Counterclaim with respect to the Okada Parties’ claim under the Nevada Racketeer Influenced and Corrupt Organizations Act with respect to certain Company executives but otherwise denied the motion. At a hearing held on January 15, 2013, the court denied the Okada Parties’ motion to dismiss the Company’s Complaint. On April 22, 2013, the Company filed a second amended complaint. On August 30, 2013, the Okada Parties filed their third amended Counterclaim. On September 18, 2013, the Company filed a Partial Motion to Dismiss related to a claim in the third amended Counterclaim alleging civil extortion by Mr. Wynn and the Company’s General Counsel. On October 29, 2013, the court granted the motion and dismissed the claim. On November 26, 2013, the Okada Parties filed their fourth amended Counterclaim, and the Company filed an answer to that pleading on December 16, 2013.

On each of February 14, 2013 and February 13, 2014, the Company issued a check to Aruze in the amount of $38.7 million, representing the interest payments due on the Redemption Note at those times. However, those checks were not cashed. In February 2014, the Okada Parties advised of their intent to deposit any checks for interest and principal, past and future, due under the terms of the Redemption Note to the clerk of the court for deposit into the clerk’s trust account. On March 17, 2014, the parties stipulated that the checks be returned to the Company for reissue in the same amounts, payable to the clerk of the court for deposit into the clerk's trust account. Pursuant to the stipulation, on March 20, 2014, the Company delivered to the clerk of the court the reissued checks that were deposited into the clerk's trust account and filed a notice with the court with respect to the same. On February 13, 2015, the Company issued a check for the interest payment due at that time to the clerk of the court for deposit into the clerk’s trust account.

On April 8, 2013, the United States Attorney’s Office and the U.S. Department of Justice filed a Motion to Intervene and for Temporary and Partial Stay of Discovery in the Redemption Action. The parties had been engaged in discovery at the time of the filing. The motion stated that the federal government has been conducting a criminal investigation of the Okada Parties involving the “same underlying allegations of misconduct-that is, potential violations of the Foreign Corrupt Practice Act and related fraudulent conduct-that form the basis of” the Company’s complaint, as amended, in the Redemption Action. The motion sought to stay all discovery in the Redemption Action related to the Okada Parties’ allegedly unlawful activities in connection with their casino project in the Philippines until the conclusion of the criminal investigation and any resulting criminal prosecution, with an interim status update to the court in six months. At a hearing on May 2, 2013, the court granted the motion and ordered that all discovery in the Redemption Action be stayed for a period of six months (the “Stay”). On May 30, 2013, Elaine Wynn filed a motion for partial relief from the Stay, to allow her to conduct limited discovery related to her cross and counterclaims. The Wynn Parties opposed the motion so as to not interfere with the United States government’s investigation. At a hearing on August 1, 2013, the court denied the motion. On October 29, 2013, the United States Attorney’s Office and the U.S. Department of Justice filed a Motion to Extend the Stay for a further period of six months. At a hearing on October 31, 2013, the court granted the requested extension based upon an affidavit provided under seal that outlined, among other things, concerns for witness safety. The court did, however, order the parties to exchange written discovery propounded prior to May 2, 2013, including discovery related to the Elaine Wynn cross and counterclaims referred to above. The extended Stay expired on May 5, 2014. On April 29, 2014, the United States Attorney's Office and the U.S. Department of Justice filed a Motion for a Second Extension of Temporary Stay of Discovery for a further six months. At a hearing on May 1, 2014, the court denied the motion. On September 22, 2014, the court entered a new stipulation between the parties for discovery schedule with closing on August 1, 2016.

On September 16, 2014, Aruze filed a motion for partial summary judgment related to its counterclaim alleging the Company's directors violated the terms of the Articles by failing to pay Aruze fair value for the redeemed shares. At a hearing held on October 21, 2014, the court denied Aruze's motion.

On October 10, 2014, the Okada Parties filed a motion for partial judgment on the pleadings principally to seek dismissal of certain breach of fiduciary claims against Mr. Okada included in the Company's Complaint. On November 13, 2014, the court denied the motion and issued an order setting the trial and trial-related dates. The trial is scheduled to begin on February 6, 2017.

The Company will continue to vigorously pursue its claims against the Okada Parties, and the Company and the Wynn Parties will continue to vigorously defend against the counterclaims asserted against them. The Company’s claims and the Okada Parties’ counterclaims remain in an early stage and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this matter or the range of reasonably possible loss, if any. An adverse judgment or settlement involving payment of a material amount could cause a material adverse effect on our financial condition.

Litigation Commenced by Kazuo Okada

Japan Action:

On August 28, 2012, Mr. Okada, Universal Entertainment Corporation and Okada Holdings (“Okada Japan Parties”) filed a complaint in Tokyo District Court against the Wynn Parties, alleging that the press release issued by the Company with respect to the redemption has damaged plaintiffs’ social evaluation and credibility. The Okada Japan Parties seek damages and legal fees from the Wynn Parties. After asking the Okada Japan Parties to clarify the allegations in their complaint, the Wynn Parties objected to the jurisdiction of the Japanese court. On April 30, 2013, the Wynn Parties filed a memorandum in support of their jurisdictional position. On October 21, 2013, the court dismissed the action on jurisdictional grounds. On November 1, 2013, the Okada Japan Parties filed an appeal moving the matter to the Tokyo High Court. On June 11, 2014, the Tokyo High Court ruled in favor of the Wynn Parties and upheld the motion for dismissal. On June 25, 2014, the Okada Japan Parties filed a notice of appeal to the Supreme Court of Japan. On October 28, 2014, the Wynn Parties received a copy of the brief that the Okada Japan Parties had filed to explain why they believe the Supreme Court of Japan should hear the case. The Wynn Parties filed a reply brief on February 16, 2015.

Indemnification Action:

On March 20, 2013, Mr. Okada filed a complaint against the Company in Nevada state court for indemnification under the Company’s Articles, bylaws and agreements with its directors. The complaint sought advancement of Mr. Okada’s costs and expenses (including attorney’s fees) incurred pursuant to the various legal proceedings and related regulatory investigations described above. The Company’s answer and counterclaim was filed on April 15, 2013. The counterclaim named each of the Okada Parties as defendants and sought indemnification under the Company’s Articles for costs and expenses (including attorney’s fees) incurred pursuant to the various legal proceedings and related regulatory investigations described above. On April 30, 2013, Mr. Okada filed his reply to the counterclaim. On February 4, 2014, the court entered an order on the parties’ stipulation that: (1) dismissed all claims Mr. Okada asserted against the Company; (2) reserved Mr. Okada’s right to assert, in the future, any claims for indemnity following the resolution of the Redemption Action; and (3) stayed the claims asserted by the Company against Mr. Okada pending the resolution of the Redemption Action.

Management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this action or the range of reasonably possible loss, if any.

Related Investigations and Derivative Litigation

Investigations:

In the U.S. Department of Justice’s Motion to Intervene and for Temporary and Partial Stay of Discovery in the Redemption Action, the Department of Justice states in a footnote that the government also has been conducting a criminal investigation into the Company’s previously disclosed donation to the University of Macau. The Company has not received any target letter or subpoena in connection with such an investigation. The Company intends to cooperate fully with the government in response to any inquiry related to the donation to the University of Macau.

Other regulators may pursue separate investigations into the Company’s compliance with applicable laws arising from the allegations in the matters described above and in response to the Counterclaim and other litigation filed by Mr. Okada suggesting improprieties in connection with the Company’s donation to the University of Macau. While the Company believes that it is in full compliance with all applicable laws, any such investigations could result in actions by regulators against the Company. Prior investigations by the Nevada Gaming Control Board and SEC were closed with no actions taken.

Derivative Claims:

Six derivative actions were commenced against the Company and all members of its Board of Directors: four in the United States District Court, District of Nevada, and two in the Eighth Judicial District Court of Clark County, Nevada.

The four federal actions brought by the following plaintiffs have been consolidated: (1) The Louisiana Municipal Police Employees’ Retirement System, (2) Maryanne Solak, (3) Excavators Union Local 731 Welfare Fund, and (4) Boilermakers Lodge No. 154 Retirement Fund (collectively, the “Federal Plaintiffs”).

The Federal Plaintiffs filed a consolidated complaint on August 6, 2012, asserting claims for: (1) breach of fiduciary duty; (2) waste of corporate assets; (3) injunctive relief; and (4) unjust enrichment. The claims were against the Company and all Company directors, including Mr. Okada, however, the plaintiffs voluntarily dismissed Mr. Okada as a defendant in this consolidated action on September 27, 2012. The Federal Plaintiffs claimed that the individual defendants breached their fiduciary duties and wasted assets by: (a) failing to ensure the Company’s officers and directors complied with federal and state laws and the Company’s Code of Conduct; (b) voting to allow the Company’s subsidiary to make the donation to the University of Macau; and (c) redeeming Aruze’s stock such that the Company incurs the debt associated with the redemption. The Federal Plaintiffs seek unspecified compensatory damages, restitution in the form of disgorgement, reformation of corporate governance procedures, an injunction against all future payments related to the donation/pledge, and all fees (attorneys, accountants, and experts) and costs. The directors responded to the consolidated complaint by filing a motion to dismiss on September 14, 2012. On February 1, 2013, the federal court dismissed the complaint for failure to plead adequately the futility of a pre-suit demand on the Board. The dismissal was without prejudice to the Federal Plaintiffs’ ability to file a motion within 30 days seeking leave to file an amended complaint. On April 9, 2013, the Federal Plaintiffs filed their amended complaint. The Company and the directors filed their motion to dismiss the amended complaint on May 23, 2013. On March 13, 2014, the federal court granted the motion to dismiss and entered judgment in favor of the Company and directors and against the Federal Plaintiffs without prejudice. On April 10, 2014, the Federal Plaintiffs filed a notice of appeal to the United States Court of Appeals for the Ninth Circuit. The Federal Plaintiffs' opening brief was filed on September 19, 2014. The Company filed a response on December 18, 2014 and the Federal Plaintiffs’ filed a reply brief on January 30, 2015.

The two state court actions brought by the following plaintiffs have also been consolidated: (1) IBEW Local 98 Pension Fund and (2) Danny Hinson (collectively, the “State Plaintiffs”). Through a coordination of efforts by all parties, the directors and the Company (a nominal defendant) have been served in all of the actions. The State Plaintiffs filed a consolidated complaint on July 20, 2012 asserting claims for (1) breach of fiduciary duty; (2) abuse of control; (3) gross mismanagement; and (4) unjust enrichment. The claims are against the Company and all Company directors during the applicable period, including Mr. Okada, as well as the Company’s Chief Financial Officer who signed financial disclosures filed with the SEC during the applicable periods. The State Plaintiffs claim that the individual defendants failed to disclose to the Company’s stockholders the investigation into, and the dispute with director Okada as well as the alleged potential violations of the FCPA related to, the University of Macau Development Foundation donation. The State Plaintiffs seek unspecified monetary damages (compensatory and punitive), disgorgement, reformation of corporate governance procedures, an order directing the Company to internally investigate the donation, as well as attorneys’ fees and costs. On October 13, 2012, the court entered the parties’ stipulation providing for a stay of the state derivative action for 90 days, subject to the parties’ obligation to monitor the progress of the pending litigation, discussed above, between Wynn Resorts (among others) and Mr. Okada (among others). Per the stipulation, the Company and the individual defendants were not required to respond to the consolidated complaint while the stay remained in effect. Following the expiration of the stay, the State Plaintiffs advised the Company and the individual defendants that they intended to resume the action by filing an amended complaint, which they did, on April 26, 2013. The Company and directors filed their motion to dismiss on June 10, 2013. However, on July 31, 2013, the parties agreed to a stipulation that was submitted to, and approved by the court. The stipulation contemplates a stay of the consolidated state court derivative action of equal duration as the Stay entered by the court in the Redemption Action. On June 18, 2014, the court entered a new stipulation between the parties that provides for further stay of the state derivative action and directs the parties, within 45 days of the conclusion of the latter of the Redemption Action or the federal derivative action, to discuss how the state derivative action should proceed and to file a joint report with the court.

The individual defendants are vigorously defending against the claims pleaded against them in the state derivative action. Management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this action or the range of reasonably possible loss, if any.

Massachusetts Gaming License Related Actions

On September 17, 2014, the MGC designated Wynn MA, an indirect wholly owned subsidiary of the Company, the award winner of the Greater Boston (Region A) gaming license. On November 7, 2014, the gaming license awarded to us became effective.

On October 16, 2014, the City of Revere, the host community to the unsuccessful bidder for the same license, and the International Brotherhood of Electrical Workers, Local 103, filed a complaint against the MGC and each of the five gaming commissioners in Suffolk Superior Court. On December 4, 2014, the City of Somerville, a surrounding community to the proposed site which Wynn MA will develop and construct an integrated resort, filed a similar complaint against the MGC and each of the five gaming commissioners in Suffolk Superior Court. The complaints challenge the MGC's decision and allege that the MGC failed to follow statutory requirements outlined in the Gaming Act. The complaints (1) seek to appeal the administrative decision, (2) assert that certiorari provides a remedy to correct errors in proceedings by an agency such as the MGC, (3) challenge the constitutionality of that section of the gaming law which bars judicial review of the Commission's decision to deny an applicant a gaming license, and (4) allege violations of the open meeting law requirements.

On January 5, 2015, the City of Boston, filed a complaint against the MGC and each of the five gaming commissioners in Suffolk Superior Court for certiorari and declaratory relief in connection with the MGC's award of the license to Wynn MA. The complaint seeks to contest the MGC's decision that Boston is a surrounding community, rather than a host community to the Wynn resort in Massachusetts.

Wynn MA is not named in the complaints. Wynn MA has been advised that the Attorney General for the Commonwealth of Massachusetts will be responding to the complaints.

Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

The Company reviews the results of operations for each of its operating segments. Wynn Macau and Encore at Wynn Macau are managed as a single integrated resort and aggregated as one reportable segment ("Macau Operations"). Wynn Las Vegas and Encore at Wynn Las Vegas are managed as a single integrated resort and have been aggregated as one reportable segment ("Las Vegas Operations"). The Company identifies each integrated resort as a reportable segment considering operations within each integrated resort have similar economic characteristics, type of customers, types of services and products, the regulatory environment of the operations and the Company's organizational and management reporting structure. The Company also reviews construction and development activities for each of its projects under development, in addition to its reportable segments. The Company's projects under development are Wynn Palace and the Wynn resort in Massachusetts. In the following tables the assets and capital expenditures of the Wynn resort in Massachusetts are included in Corporate and Other. Other Macau primarily represents cash and investment securities held at the Company's Macau holding company.

The following tables present the Company's segment information (in thousands):



	Years Ended December 31,
	2014			2013			2012
Net revenues
Macau Operations	$	3,796,750		$	4,040,526		$	3,667,454
Las Vegas Operations	1,636,911			1,580,410			1,486,830
Total	$	5,433,661		$	5,620,936		$	5,154,284
Adjusted Property EBITDA(1)
Macau Operations	$	1,258,082		$	1,324,119		$	1,167,340
Las Vegas Operations	515,196			486,682			408,472
Total	1,773,278			1,810,801			1,575,812
Other operating costs and expenses
Pre-opening costs	30,146			3,169			466
Depreciation and amortization	314,119			371,051			373,199
Property charges and other	10,437			17,138			39,978
Corporate expenses and other	111,795			88,729			112,159
Stock-based compensation	39,154			39,538			19,648
Equity in income from unconsolidated affiliates	1,349			1,085			1,086
Total other operating costs and expenses	507,000			520,710			546,536
Operating income	1,266,278			1,290,091			1,029,276
Non-operating costs and expenses
Interest income	20,441			15,713			12,543
Interest expense, net of amounts capitalized	(315,062		)	(299,022		)	(288,759		)
(Decrease) increase in swap fair value	(4,393		)	14,235			991
Loss from extinguishment of debt	(9,569		)	(40,435		)	(25,151		)
Equity in income from unconsolidated affiliates	1,349			1,085			1,086
Other	(182		)	4,856			3,012
Total other non-operating costs and expenses	(307,416		)	(303,568		)	(296,278		)
Income before income taxes	958,862			986,523			732,998
Benefit (provision) for income taxes	3,782			17,634			(4,299		)
Net income	$	962,644		$	1,004,157		$	728,699

(1)

“Adjusted Property EBITDA” is earnings before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other, corporate expenses, intercompany golf course and water rights leases, stock-based compensation, and other non-operating income and expenses and includes equity in income from unconsolidated affiliates. Adjusted Property EBITDA is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDA as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors. The Company also presents Adjusted Property EBITDA because it is used by some investors as a way to measure a company’s ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDA as a supplement to financial measures in accordance with U.S. generally accepted accounting principles (“GAAP”). In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including Wynn Resorts, Limited, have historically excluded from their EBITDA calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, which do not relate to the management of specific casino properties. However, Adjusted Property EBITDA should not be considered as an alternative to operating income as an indicator of the Company’s performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDA does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, Wynn Resorts’ calculation of Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

The Company has reclassified the prior periods to conform with the current presentation of segment information.



	Years ended December 31,
	2014		2013
Capital expenditures
Macau
Macau Operations	$	89,039	$	60,488
Wynn Palace	937,501		381,786
Total Macau	1,026,540		442,274
Las Vegas Operations	58,813		63,872
Corporate and other	41,662		640
	$	1,127,015	$	506,786



	As of December 31,
	2014		2013		2012
Assets
Macau
Macau Operations	$	1,520,098	$	2,510,444	$	2,439,886
Wynn Palace	1,854,521		755,452		320,158
Other Macau	974,170		652,267		244,614
Total Macau	4,348,789		3,918,163		3,004,658
Las Vegas Operations	3,472,931		3,576,649		3,669,881
Corporate and other	1,241,141		882,218		602,055
	$	9,062,861	$	8,377,030	$	7,276,594



	As of December 31,
	2014		2013		2012
Long-lived assets
Macau	$	2,799,781	$	1,732,485	$	1,343,381
United States	3,268,576		3,292,965		3,483,745
	$	6,068,357	$	5,025,450	$	4,827,126

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Quarterly Financial Information

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

Quarterly Financial Information (Unaudited)

The following tables (in thousands, except per share data) present selected quarterly financial information for 2014 and 2013, as previously reported. Because income per share amounts are calculated using the weighted average number of common and dilutive common equivalent shares outstanding during each quarter, the sum of the per share amounts for the four quarters may not equal the total income per share amounts for the year.



	Year Ended December 31, 2014
	First		Second		Third		Fourth		Year
Net revenues	$	1,513,613	$	1,412,063	$	1,370,010	$	1,137,975	$	5,433,661
Operating income	$	376,831	$	341,342	$	332,575	$	215,530	$	1,266,278
Net income	$	303,043	$	258,402	$	253,006	$	148,193	$	962,644
Net income attributable to Wynn Resorts, Limited	$	226,896	$	203,906	$	191,406	$	109,346	$	731,554
Basic income per share	$	2.25	$	2.02	$	1.90	$	1.08	$	7.25
Diluted income per share	$	2.22	$	2.00	$	1.88	$	1.07	$	7.18



	Year Ended December 31, 2013
	First		Second		Third		Fourth		Year
Net revenues	$	1,378,654	$	1,332,273	$	1,390,112	$	1,519,897	$	5,620,936
Operating income	$	333,648	$	274,024	$	313,978	$	368,441	$	1,290,091
Net income	$	272,144	$	192,716	$	248,811	$	290,486	$	1,004,157
Net income attributable to Wynn Resorts, Limited	$	202,963	$	129,785	$	182,020	$	213,884	$	728,652
Basic income per share	$	2.02	$	1.29	$	1.81	$	2.12	$	7.25
Diluted income per share	$	2.00	$	1.28	$	1.79	$	2.10	$	7.17

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events Dividend On February 3, 2015, the Company announced a cash dividend of $1.50 per share, payable on February 23, 2015 to stockholders of record as of February 13, 2015. Cash Tender Offer and Senior Notes Issuance On February 10, 2015, the Issuers commenced a cash tender offer for any and all of the outstanding aggregate principal amounts of the 7 3/4% 2020 Notes and 7 7/8% 2020 Notes (together the "2020 Notes"). Wynn Las Vegas, LLC accepted for purchase valid tenders with respect to approximately $305.8 million of the $377.0 million aggregate principal amount of the 7 3/4% 2020 Notes and approximately $1,146.5 million of the $1,226.6 million aggregate principal amount of the 7 7/8% 2020 Notes. The note holders who validly tendered their 2020 Notes received the total consideration of $1,073.82 for each $1,000 principal amount of 7 3/4% 2020 Notes and $1,054.21 for each $1,000 principal amount of 7 7/8% 2020 Notes. The premium portion of the aggregate total consideration was approximately $101.2 million and recorded as a loss on extinguishment of debt in the first quarter of 2015. Separately, on February 18, 2015, the Issuers completed the issuance of $1.8 billion aggregate principal amount of 5 1/2% senior notes due 2025 (the "2025 Notes") pursuant to an Indenture, dated as of February 18, 2015 (the "2025 Indenture"), among the Issuers, all the Issuers' subsidiaries (other than Wynn Las Vegas Capital Corp., which was a co-issuer) and U.S. Bank National Association, as trustee. The 2025 Notes were issued at par. The Company used the net proceeds from the 2025 Notes to cover the cost of purchasing the 2020 Notes tendered in the tender offer. The Company also satisfied and discharged the indentures under which the 2020 Notes were issued and will use the remaining net proceeds to redeem the 2020 Notes not tendered and for general corporate purposes. The 2025 Notes will mature on March 1, 2025 and bear interest at the rate of 5 1/2% per annum. The Issuers may, at their option, redeem the 2025 Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for 2025 Notes that are redeemed before December 1, 2024 will be equal to the greater of (a) 100% of the principal amount of the 2025 Notes to be redeemed and (b) a “make-whole” amount described in the 2025 Indenture, plus in either case accrued and unpaid interest, if any, to, but not including, the redemption date. The redemption price for the 2025 Notes that are redeemed on or after December 1, 2024 will be equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date. In the event of a change of control triggering event, the Issuers will be required to offer to repurchase the 2025 Notes at 101% of the principal amount, plus accrued and unpaid interest, if any, to, but not including. the repurchase date. The 2025 Notes are also subject to mandatory redemption requirements imposed by gaming laws and regulations of gaming authorities in Nevada. The 2025 Notes are the Issuers’ senior unsecured obligations and rank pari passu in right of payment with the Issuers’ outstanding 7 7/8% 2020 Notes, 7 3/4% 2020 Notes, the 2022 Notes and the 2023 Notes (together, the "Existing Notes"). The 2025 Notes are secured by a first priority pledge of the Company’s equity interests, the effectiveness of which is subject to the prior approval of the Nevada gaming authorities. The equity interests of the Company also secure the Existing Notes. If Wynn Resorts, Limited receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2025 Notes will be released. The 2025 Notes are jointly and severally guaranteed by all of the Issuers’ subsidiaries. The guarantees are senior unsecured obligations and rank senior in right of payment to all of their existing and future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the Issuers' subsidiaries that are not so subordinated and will be effectively subordinated in right of payment to all of such existing and future secured debt (to the extent of the collateral securing such debt). The 2025 Indenture contains covenants limiting the Issuers’ and all of the Issuers' subsidiaries' (as guarantors), other than Wynn Capital, ability to create liens on assets to secure debt, enter into sale-leaseback transactions and merge or consolidate with another company. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. Events of default under the 2025 Indenture include, among others, the following: default for 30 days in the payment when due of interest on the 2025 Notes; default in payment when due of the principal of, or premium, if any, on the 2025 Notes; failure to comply with certain covenants in the 2025 Indenture; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Issuers or Issuers' subsidiaries (as guarantors), other than Wynn Capital, all 2025 Notes then outstanding will become due and payable immediately without further action or notice.

Condensed Financial Statements (Parent Company Only)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Statements (Parent Company Only)

SCHEDULE 1—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT

WYNN RESORTS, LIMITED

(Parent Company Only)

CONDENSED BALANCE SHEETS

(in thousands, except share data)



	December 31,
	2014			2013
ASSETS
Current assets:
Cash and cash equivalents	$	335,111		$	299,716
Investment securities	240,140			169,496
Receivables	1,740			1,804
Prepaid expenses	1,980			3,165
Total current assets	578,971			474,181
Property and equipment, net	11,296			11,314
Investment securities	10,173			79,989
Other assets	62,043			33,787
Due from subsidiaries	369,917			298,410
Investment in subsidiaries	1,217,442			1,269,696
Total assets	$	2,249,842		$	2,167,377
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	1,695		$	334
Accrued compensation and benefits	17,428			1,326
Interest payable	33,636			33,636
Other accrued liabilities	8,163			4,865
Deferred income taxes, net	4,847			4,034
Total current liabilities	65,769			44,195
Long-term debt	1,936,443			1,936,443
Other long-term liabilities	12,421			40,045
Deferred income taxes, net	24,118			14,343
Total liabilities	2,038,751			2,035,026
Commitments and contingencies (Note 2)
Stockholders’ equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	—			—
Common stock, par value $0.01; 400,000,000 shares authorized; 114,426,960 and 114,170,493 shares issued; and, 101,439,297 and 101,192,408 shares outstanding	1,144			1,142
Treasury stock, at cost; 12,987,663 and 12,978,085 shares	(1,145,481		)	(1,143,419		)
Additional paid-in capital	948,566			888,727
Accumulated other comprehensive income	2,505			2,913
Retained earnings	164,487			66,130
Total Wynn Resorts, Limited stockholders’ deficit	(28,779		)	(184,507		)
Noncontrolling interest	239,870			316,858
Total equity	211,091			132,351
Total liabilities and stockholders' equity	$	2,249,842		$	2,167,377

The accompanying notes are an integral part of these condensed financial statements.

WYNN RESORTS, LIMITED

(Parent Company Only)

CONDENSED STATEMENTS OF INCOME

(in thousands, except per share data)



	Years Ended December 31,
	2014			2013			2012
Operating revenues:
Wynn Macau royalty fees	$	148,039		$	160,923		$	147,101
Wynn Las Vegas management fees	24,580			23,721			22,318
Other revenues	2,050			—			—
Net revenues	174,669			184,644			169,419
Operating costs and expenses:
General and administrative	45,934			45,285			70,602
Depreciation and amortization	447			423			421
Property charges and other	—			—			33
Total operating costs and expenses	46,381			45,708			71,056
Operating income	128,288			138,936			98,363
Other income (expense):
Interest and other income	1,997			1,486			1,116
Interest expense	(38,729		)	(38,715		)	(33,650		)
Equity in income of subsidiaries	864,156			882,760			665,127
Other income (expense), net	827,424			845,531			632,593
Income before income taxes	955,712			984,467			730,956
Benefit (provision) for income taxes	6,932			19,690			(2,257		)
Net income	962,644			1,004,157			728,699
Less: net income attributable to noncontrolling interests	(231,090		)	(275,505		)	(226,663		)
Net income attributable to Wynn Resorts, Limited	$	731,554		$	728,652		$	502,036
Basic and diluted earnings per common share:
Net income attributable to Wynn Resorts, Limited:
Basic	$	7.25		$	7.25		$	4.87
Diluted	$	7.18		$	7.17		$	4.82
Weighted average common shares outstanding:
Basic	100,927			100,540			103,092
Diluted	101,931			101,641			104,249

The accompanying notes are an integral part of these condensed financial statements.

WYNN RESORTS, LIMITED

(Parent Company Only)

CONDENSED STATEMENTS OF CASH FLOWS

(in thousands)



	Years Ended December 31,
	2014			2013			2012
Cash flows from operating activities:
Net income	$	962,644		$	1,004,157		$	728,699
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	447			423			421
Deferred income taxes	(9,192		)	(19,826		)	(3,655		)
Stock-based compensation	21,888			26,964			11,894
Amortization of discount on investment securities and other	4,059			3,338			3,762
Dividends received from subsidiary	887,613			840,914			700,025
Equity in income of subsidiaries	(864,156		)	(882,760		)	(665,127		)
Increase (decrease) in cash from changes in:
Receivables	68			(476		)	823
Prepaid expenses	1,185			(467		)	(1,695		)
Accounts payable, accrued expenses and other	21,540			1,515			38,337
Due from affiliates	(26,900		)	(23,721		)	(22,318		)
Net cash provided by operating activities	999,196			950,061			791,166
Cash flows from investing activities:
Purchase of investment securities	(200,258		)	(222,856		)	(183,484		)
Proceeds from sales or maturities of investment securities	195,164			95,771			202,406
Purchase of other assets	(28,476		)	(105		)	(33,682		)
Due (from) to subsidiaries	(307,525		)	4,623			(34,132		)
Net cash used in investing activities	(341,095		)	(122,567		)	(48,892		)
Cash flows from financing activities:
Cash distributions	(632,503		)	(712,681		)	(955,493		)
Exercise of stock options	11,859			20,436			15,583
Repurchase of common stock	(2,062		)	(15,472		)	(911		)
Net cash used in financing activities	(622,706		)	(707,717		)	(940,821		)
Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents	35,395			119,777			(198,547		)
Balance, beginning of year	299,716			179,939			378,486
Balance, end of year	$	335,111		$	299,716		$	179,939

The accompanying notes are an integral part of these condensed financial statements.

WYNN RESORTS, LIMITED

(Parent Company Only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

Note 1 - Basis of Presentation

The accompanying condensed financial statements include only the accounts of Wynn Resorts, Limited (the “Company”). Investments in the Company’s subsidiaries are accounted for under the equity method.

In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Wynn Macau, Limited sold through an initial public offering, including the over allotment, 1,437,500,000 shares, 27.7% of this subsidiary’s common stock.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted since this information is included in the Company’s consolidated financial statements included elsewhere in this Form 10-K.

Note 2 - Commitments and Contingencies

The Company is a holding company and, as a result, its ability to pay dividends is dependent on its subsidiaries’ ability to obtain funds and its subsidiaries' ability to provide funds to it. Restrictions are imposed by its subsidiaries' debt instruments significantly restrict certain key subsidiaries holding a majority of its assets, including Wynn Las Vegas, LLC, Wynn America, LLC, and Wynn Resorts (Macau), S.A., from making dividends or distributions to the Company. These restrictions are subject to certain exceptions for affiliated overhead expenses as defined in the agreements governing the debt instruments, unless certain financial and non-financial criteria have been satisfied. The Company received cash dividends of $887.6 million, $840.9 million and $700.0 million from its subsidiaries during the years ended December 31, 2014, 2013 and 2012, respectively.

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts [Abstract]

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

(in thousands)



Description	Balance at Beginning of Year		Provisions for Doubtful Accounts	Write-offs, Net of Recoveries		Balance at End of Year
Allowance for doubtful accounts:
2014	$	73,991	3,906	(3,219	)	$	74,678
2013	$	102,213	11,877	(40,099	)	$	73,991
2012	$	91,854	18,091	(7,732	)	$	102,213



Description	Balance at Beginning of Year		Additions	Deductions		Balance at End of Year
Deferred income tax asset valuation allowance:
2014	$	2,587,025	745,112	(35,348	)	$	3,296,789
2013	$	1,831,545	773,509	(18,029	)	$	2,587,025
2012	$	1,812,482	29,132	(10,069	)	$	1,831,545

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Restricted Cash

Investment Securities

Accounts Receivable and Credit Risk

Inventories

Property and Equipment

Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:



Buildings and improvements	10 to 45 years
Land improvements	10 to 45 years
Leasehold interest in land	25 years
Airplanes	18 to 20 years
Furniture, fixtures and equipment	3 to 20 years

Capitalized Interest

Intangible Assets

Long-Lived Assets

Deferred Financing Costs

Derivative Financial Instruments

Redemption Price Promissory Note

Revenue Recognition and Promotional Allowances



	Years Ended December 31,
	2014		2013		2012
Rooms	$	54,981	$	52,585	$	53,487
Food and beverage	120,070		112,897		107,882
Entertainment, retail and other	14,977		14,659		17,522
	$	190,028	$	180,141	$	178,891

Customer Loyalty Program

Customer Loyalty Programs

Slot Machine Jackpots

As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes.

Foreign Currency

Comprehensive Income

Fair Value Measurements

Earnings Per Share

Stock-Based Compensation

Recently Issued Accounting Standards

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Assets

Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:



Buildings and improvements	10 to 45 years
Land improvements	10 to 45 years
Leasehold interest in land	25 years
Airplanes	18 to 20 years
Furniture, fixtures and equipment	3 to 20 years

Summary of Estimated Cost of Promotional Allowances

The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (in thousands):



	Years Ended December 31,
	2014		2013		2012
Rooms	$	54,981	$	52,585	$	53,487
Food and beverage	120,070		112,897		107,882
Entertainment, retail and other	14,977		14,659		17,522
	$	190,028	$	180,141	$	178,891

Schedule of Assets and Liabilities Carried at Fair Value

The following table presents assets and liabilities carried at fair value (in thousands):



			Fair Value Measurements Using:
	December 31, 2014		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	1,156,285	$	828	$	1,155,457	—
Interest rate swaps	$	5,915	—		$	5,915	—
Restricted cash	$	977	$	977	—		—
Available-for-sale securities	$	250,313	—		$	250,313	—

Liabilities:
Redemption note	$	1,936,443	—		$	1,936,443	—


			Fair Value Measurements Using:
	December 31, 2013		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	1,349,647	$	220,923	$	1,128,724	—
Interest rate swaps	$	10,308	—		$	10,308	—
Restricted cash	$	199,936	—		$	199,936	—
Available-for-sale securities	$	254,388	—		$	254,388	—

Liabilities:
Redemption note	$	1,936,443	—		$	1,936,443	—

Schedule of Shares used in Calculation of Earnings Per Share

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS consisted of the following (in thousands, except per share amount):



	Years Ended December 31,
	2014		2013		2012
Numerator:
Net income attributable to Wynn Resorts, Ltd.	$	731,554	$	728,652	$	502,036

Denominator:
Weighted average common shares outstanding	100,927		100,540		103,092
Potential dilutive effect of stock options and restricted stock	1,004		1,101		1,157
Weighted average common and common equivalent shares outstanding	101,931		101,641		104,249

Net income attributable to Wynn Resorts, Ltd. per common share, basic	$	7.25	$	7.25	$	4.87
Net income attributable to Wynn Resorts, Ltd. per common share, diluted	$	7.18	$	7.17	$	4.82

Anti-dilutive stock options excluded from the calculation of diluted earnings per share	26		92		680

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Changes by Component, Net of Tax and Noncontrolling Interest, in Accumulated Other Comprehensive Income

The following table presents the changes by component, net of tax and noncontrolling interest, in accumulated other comprehensive income of the Company (in thousands):



	Foreign currency translation			Unrealized gain (loss) on securities			Accumulated other comprehensive income
December 31, 2013	$	2,874		$	39		$	2,913
Current period other comprehensive gain (loss)	129			(208		)	(79		)
Amounts reclassified from accumulated other comprehensive income	(333		)	4			(329		)
Net current-period other comprehensive loss	(204		)	(204		)	(408		)
December 31, 2014	$	2,670		$	(165	)	$	2,505

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

Investment securities consisted of the following (in thousands):



	December 31, 2014									December 31, 2013
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)		Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
Domestic and foreign corporate bonds	$	204,045	$	28	$	(174	)	$	203,899	$	221,418	$	140	$	(124	)	$	221,434
Commercial paper	46,434		1		(21		)	46,414		32,941		16		(3		)	32,954
	$	250,479	$	29	$	(195	)	$	250,313	$	254,359	$	156	$	(127	)	$	254,388

Investments by Contractual Maturity

The fair value of these investment securities at December 31, 2014, by contractual maturity, are as follows (in thousands):



	Fair value
Available-for-sale securities
Due in one year or less	$	240,140
Due after one year through two years	10,173
	$	250,313

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Receivables, net (Tables)

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Summary of Receivables, Net

Receivables, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Casino	$	257,930		$	252,998
Hotel	15,474			15,386
Retail leases and other	39,231			47,539
	312,635			315,923
Less: allowance for doubtful accounts	(74,678		)	(73,991		)
	$	237,957		$	241,932

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Land and improvements	$	734,625		$	733,233
Buildings and improvements	3,883,626			3,883,442
Airplanes	126,491			135,040
Furniture, fixtures and equipment	1,749,288			1,686,522
Leasehold interest in land	316,431			316,550
Construction in progress	1,666,326			558,624
	8,476,787			7,313,411
Less: accumulated depreciation	(2,620,945		)	(2,378,962		)
	$	5,855,842		$	4,934,449

Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Indefinite-lived intangible assets:
Trademarks	$	1,399		$	1,399
Water rights	6,400			6,400
Total indefinite-lived intangible assets	7,799			7,799

Finite-lived intangible assets:
Macau Gaming Concession	42,300			42,300
Less: accumulated amortization	(24,432		)	(22,048		)
	17,868			20,252
Show Production rights	—			863
Less: accumulated amortization	—			(863		)
	—			—
Massachusetts Gaming License	86,700			—
Less: accumulated amortization	—			—
	86,700			—
Other	2,716			2,716
Less: write-offs	(2,716		)	—
	—			2,716
Total finite-lived intangible assets	104,568			22,968
Total intangible assets, net	$	112,367		$	30,767

Schedule of Finite-Lived Intangible Assets

Intangible assets, net consisted of the following (in thousands):



	As of December 31,
	2014			2013
Indefinite-lived intangible assets:
Trademarks	$	1,399		$	1,399
Water rights	6,400			6,400
Total indefinite-lived intangible assets	7,799			7,799

Finite-lived intangible assets:
Macau Gaming Concession	42,300			42,300
Less: accumulated amortization	(24,432		)	(22,048		)
	17,868			20,252
Show Production rights	—			863
Less: accumulated amortization	—			(863		)
	—			—
Massachusetts Gaming License	86,700			—
Less: accumulated amortization	—			—
	86,700			—
Other	2,716			2,716
Less: write-offs	(2,716		)	—
	—			2,716
Total finite-lived intangible assets	104,568			22,968
Total intangible assets, net	$	112,367		$	30,767

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Long-term debt consisted of the following (in thousands):



	December 31,
	2014		2013
Macau Related:
Wynn Macau Credit Facilities:
Senior Term Loan, due July 31, 2017 and July 31, 2018; interest at LIBOR or HIBOR plus 1.75%—2.50%, net of original issue discount of $3,830 at December 31, 2014 and $4,900 at December 31, 2013	$	948,823	$	948,028
Senior Revolving Credit Facility, due July 31, 2017, interest at LIBOR or HIBOR plus 1.75%—2.50%	132,524		—
5 1/4% Senior Notes, due October 15, 2021, including original issue premium of $5,141 at December 31, 2014 and none at December 31, 2013	1,355,141		600,000
U.S. and Corporate Related:
7 7/8% First Mortgage Notes, due May 1, 2020, net of original issue discount of $1,279 at December 31, 2014 and $1,463 at December 31, 2013	345,731		350,547
7 3/4% First Mortgage Notes, due August 15, 2020	1,226,600		1,320,000
5 3/8% First Mortgage Notes, due March 15, 2022	900,000		900,000
4 1/4% Senior Notes, due May 30, 2023	500,000		500,000
Redemption Price Promissory Note with former stockholder and related party, due February 18, 2022; interest at 2%	1,936,443		1,936,443
Note Payable, due April 1, 2017; interest at LIBOR plus 1.25%	—		32,550
	7,345,262		6,587,568
Current portion of long-term debt	—		(1,050		)
	$	7,345,262	$	6,586,518

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt, including the accretion of debt discounts of $5.1 million and amortization of debt premiums of $5.1 million, are as follows (in thousands):



Years Ending December 31,
2017	$	508,922
2018	576,256
2019	—
Thereafter	6,260,052
	$	7,345,230

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Property Charges and Other (Tables)

12 Months Ended

Dec. 31, 2014

Text Block [Abstract]

Property Charges and Other

Property charges and other consisted of the following (in thousands):



	Years Ended December 31,
	2014		2013		2012
Net loss on assets abandoned/retired for remodel or sold	$	6,975	$	7,358	$	29,524
Donation to University of Macau Foundation	3,462		3,780		4,083
Loss on contract termination	—		6,000		315
Loss on show cancellation	—		—		6,056
	$	10,437	$	17,138	$	39,978

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Share-based Compensation Arrangement by Share-based Payment Award

Schedule Valuation Assumptions

The fair value of stock options granted under Wynn Resorts, Limited's stock-based compensation plans were estimated on the date of grant using the following weighted-average assumptions:



	Years Ended December 31,
	2014		2013		2012
Expected dividend yield	4.0	%	3.0	%	4.0	%
Expected volatility	43.3	%	39.4	%	48.8	%
Risk-free interest rate	1.6	%	1.1	%	1.2	%
Expected term (years)	6.5		6.7		7.0

The fair value of stock options granted under Wynn Macau, Limited's Share Option Plan was estimated on the date of grant using the following weighted-average assumptions:



	Years Ended December 31,
	2014		2013		2012
Expected dividend yield	5.0	%	5.0	%	4.0	%
Expected stock price volatility	40.9	%	43.3	%	49.0	%
Risk-free interest rate	1.1	%	0.6	%	0.7	%
Expected term (years)	6.5		6.5		6.5

Wynn Resorts Limited 2014 Omnibus Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of Option Activity

The summary of stock option activity under the plans for the year ended December 31, 2014 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2014	1,606,309		$	75.89
Granted	25,800		$	201.22
Exercised	(211,133	)	$	52.51
Forfeited or expired	(40,000	)	$	140.36
Outstanding at December 31, 2014	1,380,976		$	79.93	4.34	$	96,400,313
Fully vested and expected to vest at December 31, 2014	1,260,693		$	78.98	4.39	$	89,241,158
Exercisable at December 31, 2014	355,610		$	65.10	4.78	$	29,751,409

The following is provided for stock option exercises from the plans (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2014		2013		2012
Weighted average grant date fair value	$	29.29	$	39.93	$	33.03
Intrinsic value	$	30,485	$	33,830	$	22,416
Cash received	$	11,086	$	20,436	$	15,583
Tax benefits realized	$	8,506	$	6,362	$	4,903

Schedule of Nonvested Activity

The summary of nonvested share activity under the plans for the year ended December 31, 2014 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2014	397,500		$	113.13
Granted	54,500		209.92
Vested	(52,834	)	178.48
Forfeited	(9,166	)	104.79
Nonvested at December 31, 2014	390,000		$	118.00

Disclosure of Information about Option Exercises

The following is provided for the share award vesting from the plans (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2014		2013		2012
Weighted average grant date fair value	$	178.48	$	125.56	$	110.04
Fair value of shares vested	$	9,430	$	36,328	$	15,653
Tax benefits realized	$	870	$	4,112	$	634

Share Option Plan

Share-based Compensation Arrangement by Share-based Payment Award

Disclosure of Information about Option Exercises

The summary of stock option activity under the plan for the year ended December 31, 2014 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2014	2,910,000		$	2.44
Granted	644,000		$	4.00
Exercised	(464,000	)	$	1.66
Outstanding at December 31, 2014	3,090,000		$	2.88	7.5	$	—
Fully vested and expected to vest at December 31, 2014	3,090,000		$	2.88	7.5	$	—
Exercisable at December 31, 2014	990,000		$	2.37	6.5	$	505,273

The following is provided for stock option exercises from the Share Option Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2014		2013		2012
Weighted average grant date fair value	$	1.66	$	0.78	$	0.78
Intrinsic value	$	1,134	$	—	$	—
Cash received	$	773	$	—	$	—

Share Award Plan

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of Nonvested Activity

The summary of nonvested share activity under the Share Award Plan for the year ended December 31, 2014 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2014	—		—
Granted	8,019,000		$	3.81
Vested	—		—
Forfeited	(276,000	)	$	3.81
Nonvested at December 31, 2014	7,743,000		$	3.81

Schedule of Allocated Costs

The total compensation cost for stock-based compensation plans are allocated as follows (in thousands):



	Years Ended December 31,
	2014		2013		2012
Casino	$	8,360	$	4,791	$	4,794
Rooms	216		853		313
Food and beverage	753		1,202		178
Entertainment, retail and other	55		477		43
General and administrative	29,770		32,214		14,320
Pre-opening costs	42		—		—
Total stock-based compensation expense	39,196		39,537		19,648
Total stock-based compensation capitalized	5,710		195		195
Total stock-based compensation costs	$	44,906	$	39,732	$	19,843

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Summary of Consolidated Income Loss Before Taxes for Domestic and Foreign

Consolidated income (loss) before taxes for domestic and foreign operations consisted of the following (in thousands):



	Years Ended December 31,
	2014		2013			2012
Domestic	$	122,974	$	(9,935	)	$	(87,122	)
Foreign	835,888		996,458			820,120
Total	$	958,862	$	986,523		$	732,998

Summary of Provision (Benefit) for Income Taxes

The income tax (benefit) provision attributable to income before income taxes is as follows (in thousands):



	Years Ended December 31,
	2014			2013			2012
Current
Federal	$	2,260		$	135		$	5,912
Foreign	2,043			2,057			2,042
	$	4,303		$	2,192		$	7,954
Deferred
Federal	$	(13,286	)	$	(19,826	)	$	(3,655	)
State	4,094			—			—
Foreign	1,107			—			—
	(8,085		)	(19,826		)	(3,655		)
Total	$	(3,782	)	$	(17,634	)	$	4,299

Summary of Income Taxes (Federal Statutory Corporate Tax Rate)

The income tax (benefit) provision differs from that computed at the federal statutory corporate tax rate as follows:



	Years Ended December 31,
	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign tax rate differential	(19.1	)%	(23.1	)%	(25.6	)%
Non-taxable foreign income	(13.1	)%	(13.4	)%	(15.4	)%
Foreign tax credits, net of valuation allowance	(95.2	)%	(89.3	)%	1.7	%
Repatriation of foreign earnings	88.0	%	87.2	%	0.0	%
Other, net	2.9	%	1.9	%	3.6	%
Valuation allowance, other	1.1	%	(0.1	)%	1.3	%
Effective tax rate	(0.4	)%	(1.8	)%	0.6	%

Summary of Net Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (in thousands):



	As of December 31,
	2014			2013
Deferred tax assets—U.S.:
Current:
Receivables, inventories, accrued liabilities and other	$	48,093		$	36,556
Less: valuation allowance	(45,992		)	(34,347		)
	2,101			2,209
Long-term:
Foreign tax credit carryforwards	3,283,669			2,614,665
Intangibles and related other	27,201			26,324
Stock based compensation	16,972			10,736
Pre-opening costs	10,876			12,884
Other	10,540			11,341
	3,349,258			2,675,950
Less: valuation allowance	(3,202,971		)	(2,514,258		)
	146,287			161,692
Deferred tax liabilities—U.S.:
Current:
Prepaid insurance, maintenance and taxes	(6,948		)	(6,243		)
Long-term:
Property and equipment	(170,405		)	(176,036		)
Deferred tax assets—Foreign:
Current:
Accrued liabilities	173			164
Less: valuation allowance	(173		)	(164		)
	—			—
Long-term:
Net operating loss carryforwards	16,797			13,701
Property and equipment	22,740			17,441
Pre-opening costs	7,396			3,040
Other	1,930			4,074
Less: valuation allowance	(47,653		)	(38,256		)
	1,210			—
Deferred tax liabilities—Foreign:
Long-term:
Property and equipment	(2,317		)	—
Net deferred tax liability	$	(30,072	)	$	(18,378	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):



	As of December 31,
	2014			2013			2012
Balance—beginning of year	$	89,544		$	84,289		$	85,498
Increases based on tax positions of the current year	3,297			8,360			8,140
Increases based on tax positions of prior years	322			—			—
Decreases for tax positions of prior years	(867		)	—			—
Settlements with taxing authorities	(997		)	—			—
Lapses in statutes of limitations	(2,415		)	(3,105		)	(9,349		)
Balance—end of year	$	88,884		$	89,544		$	84,289

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Rental Receivable Under Operating Lease

The following table presents the future minimum rentals to be received under the operating leases (in thousands):



Years Ending December 31,
2015	$	46,837
2016	63,065
2017	55,603
2018	34,546
2019	30,122
Thereafter	44,542
	$	274,715

Future Minimum Rental Payable Under Non-Cancelable Operating Lease

At December 31, 2014, the Company was obligated under non-cancelable operating leases to make future minimum lease payments as follows (in thousands):



Years Ending December 31,
2015	$	12,618
2016	12,684
2017	8,482
2018	8,359
2019	8,436
Thereafter	31,088
	$	81,667

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Summary of Operations by Segment

The following tables present the Company's segment information (in thousands):



	Years Ended December 31,
	2014			2013			2012
Net revenues
Macau Operations	$	3,796,750		$	4,040,526		$	3,667,454
Las Vegas Operations	1,636,911			1,580,410			1,486,830
Total	$	5,433,661		$	5,620,936		$	5,154,284
Adjusted Property EBITDA(1)
Macau Operations	$	1,258,082		$	1,324,119		$	1,167,340
Las Vegas Operations	515,196			486,682			408,472
Total	1,773,278			1,810,801			1,575,812
Other operating costs and expenses
Pre-opening costs	30,146			3,169			466
Depreciation and amortization	314,119			371,051			373,199
Property charges and other	10,437			17,138			39,978
Corporate expenses and other	111,795			88,729			112,159
Stock-based compensation	39,154			39,538			19,648
Equity in income from unconsolidated affiliates	1,349			1,085			1,086
Total other operating costs and expenses	507,000			520,710			546,536
Operating income	1,266,278			1,290,091			1,029,276
Non-operating costs and expenses
Interest income	20,441			15,713			12,543
Interest expense, net of amounts capitalized	(315,062		)	(299,022		)	(288,759		)
(Decrease) increase in swap fair value	(4,393		)	14,235			991
Loss from extinguishment of debt	(9,569		)	(40,435		)	(25,151		)
Equity in income from unconsolidated affiliates	1,349			1,085			1,086
Other	(182		)	4,856			3,012
Total other non-operating costs and expenses	(307,416		)	(303,568		)	(296,278		)
Income before income taxes	958,862			986,523			732,998
Benefit (provision) for income taxes	3,782			17,634			(4,299		)
Net income	$	962,644		$	1,004,157		$	728,699

(1)

Schedule of Capital Expenditures

The Company has reclassified the prior periods to conform with the current presentation of segment information.



	Years ended December 31,
	2014		2013
Capital expenditures
Macau
Macau Operations	$	89,039	$	60,488
Wynn Palace	937,501		381,786
Total Macau	1,026,540		442,274
Las Vegas Operations	58,813		63,872
Corporate and other	41,662		640
	$	1,127,015	$	506,786

Summary of Assets and Capital Expenditures by Segment



	As of December 31,
	2014		2013		2012
Assets
Macau
Macau Operations	$	1,520,098	$	2,510,444	$	2,439,886
Wynn Palace	1,854,521		755,452		320,158
Other Macau	974,170		652,267		244,614
Total Macau	4,348,789		3,918,163		3,004,658
Las Vegas Operations	3,472,931		3,576,649		3,669,881
Corporate and other	1,241,141		882,218		602,055
	$	9,062,861	$	8,377,030	$	7,276,594

Summary of Long-lived Assets by Geographic Area



	As of December 31,
	2014		2013		2012
Long-lived assets
Macau	$	2,799,781	$	1,732,485	$	1,343,381
United States	3,268,576		3,292,965		3,483,745
	$	6,068,357	$	5,025,450	$	4,827,126

Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Data



	Year Ended December 31, 2014
	First		Second		Third		Fourth		Year
Net revenues	$	1,513,613	$	1,412,063	$	1,370,010	$	1,137,975	$	5,433,661
Operating income	$	376,831	$	341,342	$	332,575	$	215,530	$	1,266,278
Net income	$	303,043	$	258,402	$	253,006	$	148,193	$	962,644
Net income attributable to Wynn Resorts, Limited	$	226,896	$	203,906	$	191,406	$	109,346	$	731,554
Basic income per share	$	2.25	$	2.02	$	1.90	$	1.08	$	7.25
Diluted income per share	$	2.22	$	2.00	$	1.88	$	1.07	$	7.18



	Year Ended December 31, 2013
	First		Second		Third		Fourth		Year
Net revenues	$	1,378,654	$	1,332,273	$	1,390,112	$	1,519,897	$	5,620,936
Operating income	$	333,648	$	274,024	$	313,978	$	368,441	$	1,290,091
Net income	$	272,144	$	192,716	$	248,811	$	290,486	$	1,004,157
Net income attributable to Wynn Resorts, Limited	$	202,963	$	129,785	$	182,020	$	213,884	$	728,652
Basic income per share	$	2.02	$	1.29	$	1.81	$	2.12	$	7.25
Diluted income per share	$	2.00	$	1.28	$	1.79	$	2.10	$	7.17

Organization - Additional Information (Detail)	6 Months Ended	12 Months Ended
Organization - Additional Information (Detail)	Jun. 30, 2016 Room	Dec. 31, 2014 ft² tower Facility Restaurant Outlet Room showroom
Wynn Macau
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		72.00%
Number of hotel \| tower		2
Number of rooms in hotel \| Room		1,008
Area of property		31,000
Number of restaurants \| Restaurant		8
Wynn Macau \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Area of property		284,000
Wynn Macau \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Area of property		57,000
Wynn Macau \| Salon and Spa
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of facilities \| Facility		2
Wynn Macau \| Pool
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of facilities \| Facility		1
Wynn Las Vegas
Organization Consolidation And Presentation Of Financial Statements Disclosure
Percentage of ownership		100.00%
Number of hotel \| tower		2
Number of rooms in hotel \| Room		4,748
Wynn Las Vegas \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Area of property		186,000
Wynn Las Vegas \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Area of property		99,000
Wynn Las Vegas \| Food and Beverage
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of outlets \| Outlet		34
Wynn Las Vegas \| Inperson Committee Meeting
Organization Consolidation And Presentation Of Financial Statements Disclosure
Area of property		290,000
Wynn Las Vegas \| Showrooms
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of showrooms \| showroom		2
Wynn Las Vegas \| Nightclubs and Beachclubs
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of facilities \| Facility		3
Forecast \| Wynn Palace
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel \| Room	1,700

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Summary of Significant Accounting Policies
Percentage of ownership in joint ventures	50.00%
Debt instrument, foreign interest rate	2.00%
Cash equivalents	$ 1,156,285	$ 1,349,647
Bank deposits and cash on hand	1,025,900	1,085,400
Restricted cash	$ 977	$ 199,936
Percentage of credit markers due from customers residing outside of the United States	85.00%	86.00%
Adjustment effect in operating income	$ 8,700	$ 14,900	$ 30,900
Adjustment effect in net income	$ 6,800	$ 12,000	$ 23,300
Adjustment effect in diluted earning per share	$ 0.07	$ 0.12	$ 0.22
Capitalized interest	$ 33,500	$ 10,500	$ 2,000
Interest expense, amortized	12,600	11,200	11,000
Gaming tax expenses	1,800,000	2,000,000	1,800,000
Total advertising costs	23,300	21,500	23,000
Unrecognized tax benefits	88,884	$ 89,544	$ 84,289	$ 85,498
Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Summary of Significant Accounting Policies
Debt instrument, principal amount	1,940,000
Deferred Tax Liabilities Noncurrent
Summary of Significant Accounting Policies
Unrecognized tax benefits	$ 29,200
Other Observable Inputs (Level 2)
Summary of Significant Accounting Policies
Percentage of cash equivalents which are deposits held in foreign currencies	19.00%	91.00%

Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Detail)	12 Months Ended
	Dec. 31, 2014
Buildings and Improvements \| Minimum
Property and Equipment, Net
Estimated useful lives of the assets	10 years
Buildings and Improvements \| Maximum
Property and Equipment, Net
Estimated useful lives of the assets	45 years
Land Improvements \| Minimum
Property and Equipment, Net
Estimated useful lives of the assets	10 years
Land Improvements \| Maximum
Property and Equipment, Net
Estimated useful lives of the assets	45 years
Leasehold Interest in Land
Property and Equipment, Net
Estimated useful lives of the assets	25 years
Airplanes \| Minimum
Property and Equipment, Net
Estimated useful lives of the assets	18 years
Airplanes \| Maximum
Property and Equipment, Net
Estimated useful lives of the assets	20 years
Furniture, Fixtures and Equipment \| Minimum
Property and Equipment, Net
Estimated useful lives of the assets	3 years
Furniture, Fixtures and Equipment \| Maximum
Property and Equipment, Net
Estimated useful lives of the assets	20 years

Summary of Significant Accounting Policies - Summary of Estimated Cost of Promotional Allowances (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Promotional Allowances
Estimated costs of providing promotional allowances (primarily included in casino expenses)	$ 190,028	$ 180,141	$ 178,891
Rooms
Promotional Allowances
Estimated costs of providing promotional allowances (primarily included in casino expenses)	54,981	52,585	53,487
Food and Beverage
Promotional Allowances
Estimated costs of providing promotional allowances (primarily included in casino expenses)	120,070	112,897	107,882
Entertainment, Retail and Other
Promotional Allowances
Estimated costs of providing promotional allowances (primarily included in casino expenses)	$ 14,977	$ 14,659	$ 17,522

Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Carried at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 1,156,285	$ 1,349,647
Available-for-sale securities	250,313	254,388
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	1,156,285	1,349,647
Interest rate swaps	5,915	10,308
Restricted cash	977	199,936
Available-for-sale securities	250,313	254,388
Redemption note	1,936,443	1,936,443
Fair Value, Measurements, Recurring \| Quoted Market Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	828	220,923
Interest rate swaps	0	0
Restricted cash	977	0
Available-for-sale securities	0	0
Redemption note	0	0
Fair Value, Measurements, Recurring \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	1,155,457	1,128,724
Interest rate swaps	5,915	10,308
Restricted cash	0	199,936
Available-for-sale securities	250,313	254,388
Redemption note	1,936,443	1,936,443
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Interest rate swaps	0	0
Restricted cash	0	0
Available-for-sale securities	0	0
Redemption note	$ 0	$ 0

Summary of Significant Accounting Policies - Schedule of Shares used in Calculation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share [Abstract]
Net Income attributable to Wynn Resorts, Ltd.	$ 109,346	$ 191,406	$ 203,906	$ 226,896	$ 213,884	$ 182,020	$ 129,785	$ 202,963	$ 731,554	$ 728,652	$ 502,036
Weighted average common shares outstanding (used in calculation of basic earnings per share)									100,927	100,540	103,092
Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)									101,931	101,641	104,249
Potential dilution from the assumed exercise of stock options and nonvested stock									1,004	1,101	1,157
Basic (in usd per share)	$ 1.08	$ 1.90	$ 2.02	$ 2.25	$ 2.12	$ 1.81	$ 1.29	$ 2.02	$ 7.25	$ 7.25	$ 4.87
Diluted (in usd per share)	$ 1.07	$ 1.88	$ 2.00	$ 2.22	$ 2.10	$ 1.79	$ 1.28	$ 2.00	$ 7.18	$ 7.17	$ 4.82
Anti-dilutive stock options excluded from the calculation of diluted earnings per share									26	92	680

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Changes by Component, Net of Tax and Noncontrolling Interest, in Accumulated Other Comprehensive Income (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2014 USD ($)
Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 2,913
Current period other comprehensive (loss) gain	(79)
Amounts reclassified from accumulated other comprehensive income	(329)
Net current-period other comprehensive (loss) gain	(408)
Ending balance	2,505
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss)
Beginning balance	2,874
Current period other comprehensive (loss) gain	129
Amounts reclassified from accumulated other comprehensive income	(333)
Net current-period other comprehensive (loss) gain	(204)
Ending balance	2,670
Unrealized (Loss) Gain on Securities
Accumulated Other Comprehensive Income (Loss)
Beginning balance	39
Current period other comprehensive (loss) gain	(208)
Amounts reclassified from accumulated other comprehensive income	4
Net current-period other comprehensive (loss) gain	(204)
Ending balance	$ (165)

- 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.

+ References + Details

Investment Securities - Schedule of Investment Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities
Available-for-sale securities, Amortized cost	$ 250,479	$ 254,359
Available-for-sale securities, Gross unrealized gains	29	156
Available-for-sale securities, Gross unrealized losses	(195)	(127)
Available-for-sale securities	250,313	254,388
Domestic and Foreign Corporate Bonds
Schedule of Available-for-sale Securities
Available-for-sale securities, Amortized cost	204,045	221,418
Available-for-sale securities, Gross unrealized gains	28	140
Available-for-sale securities, Gross unrealized losses	(174)	(124)
Available-for-sale securities	203,899	221,434
Commercial Paper
Schedule of Available-for-sale Securities
Available-for-sale securities, Amortized cost	46,434	32,941
Available-for-sale securities, Gross unrealized gains	1	16
Available-for-sale securities, Gross unrealized losses	(21)	(3)
Available-for-sale securities	$ 46,414	$ 32,954

Investment Securities - Investments by Contractual Maturity (Detail) $ in Thousands	Dec. 31, 2014 USD ($)
Fair value
Due in one year or less	$ 240,140
Due after one year through two years	10,173
Fair value	$ 250,313

Receivables, net - Summary of Receivables, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable
Receivables, gross	$ 312,635	$ 315,923
Less: allowance for doubtful accounts	(74,678)	(73,991)
Receivables, net	237,957	241,932
Casino
Accounts, Notes, Loans and Financing Receivable
Receivables, gross	257,930	252,998
Hotel
Accounts, Notes, Loans and Financing Receivable
Receivables, gross	15,474	15,386
Retail Leases and Other
Accounts, Notes, Loans and Financing Receivable
Receivables, gross	$ 39,231	$ 47,539

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Land and improvements	$ 734,625	$ 733,233
Buildings and improvements	3,883,626	3,883,442
Airplanes	126,491	135,040
Furniture, fixtures and equipment	1,749,288	1,686,522
Leasehold interest in land	316,431	316,550
Construction in progress	1,666,326	558,624
Property and equipment, gross	8,476,787	7,313,411
Less: accumulated depreciation	(2,620,945)	(2,378,962)
Property and equipment, net	$ 5,855,842	$ 4,934,449

Intangible Assets, net - Additional Information (Detail) - Macau Gaming Concession $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($)
Schedule Of Finite And Indefinite Lived Intangible Assets
Intangible assets, useful life, years	20 years
Future amortization expense, 2015	$ 2.4
Future amortization expense, 2016	2.4
Future amortization expense, 2017	2.4
Future amortization expense, 2018	2.4
Future amortization expense, 2019	2.4
Future amortization expense, 2020	2.4
Future amortization expense, 2021	2.4
Future amortization expense, 2022	$ 1.2

Intangible Assets, net - Schedule of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets
Finite-lived intangible assets, net	$ 104,568	$ 22,968
Indefinite-lived intangible assets	7,799	7,799
Total intangible assets, net	112,367	30,767
Macau Gaming Concession
Intangible Assets
Finite-lived intangible assets, gross	42,300	42,300
Less: accumulated amortization	(24,432)	(22,048)
Finite-lived intangible assets, net	17,868	20,252
Show Production Rights
Intangible Assets
Finite-lived intangible assets, gross	0	863
Less: accumulated amortization	0	(863)
Finite-lived intangible assets, net	0	0
Massachusetts Gaming License
Intangible Assets
Finite-lived intangible assets, gross	86,700	0
Less: accumulated amortization	0	0
Finite-lived intangible assets, net	86,700	0
Other
Intangible Assets
Finite-lived intangible assets, gross	2,716	2,716
Finite-Lived Intangible Assets, Write-Off	(2,716)	0
Finite-lived intangible assets, net	0	2,716
Trademarks
Intangible Assets
Indefinite-lived intangible assets	1,399	1,399
Water Rights
Intangible Assets
Indefinite-lived intangible assets	$ 6,400	$ 6,400

Long-Term Debt - Additional Information (Detail) MOP$ in Millions							1 Months Ended												9 Months Ended	12 Months Ended
	Feb. 10, 2015 USD ($)	Nov. 20, 2014 USD ($)	Mar. 20, 2014 USD ($)	Oct. 16, 2013 USD ($)	Jul. 30, 2013 USD ($)	Feb. 18, 2012 USD ($) shares	Nov. 30, 2014 USD ($)	Feb. 13, 2014 USD ($)	Oct. 16, 2013 USD ($)	May 22, 2013 USD ($)	May 15, 2013	Feb. 14, 2013 USD ($)	Dec. 31, 2012 USD ($)	Jul. 31, 2012 USD ($)	Feb. 18, 2012 USD ($) shares	Aug. 31, 2010 USD ($)	Apr. 30, 2010 USD ($)	Oct. 31, 2009	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) BasisPoint	Dec. 31, 2014 MOP (MOP$) BasisPoint	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2014 MOP (MOP$)	Nov. 30, 2013	Mar. 01, 2012 USD ($)	Mar. 30, 2007 USD ($)
Debt Instrument
Deferred financing cost and third party fees																				$ (9,569,000)		$ (40,435,000)	$ (25,151,000)
Deferred financing costs, net																				$ 84,413,000		67,926,000
Letter of credit outstanding																						8,900,000
Debt instrument, interest rate																				2.00%				2.00%
Net proceed from issuance of debt note																				$ 958,008,000		1,297,870,000	1,648,643,000
Principal amount for cash tender offer	$ 1,000
Common stock redeemed, shares \| shares															24,549,222
Principal payments on long-term debt																				101,339,000		501,400,000	1,022,847,000
Fair value of debt instrument excluding the Redemption Note																				5,400,000,000		4,800,000,000
Long-term debt excluding the Redemption Note																				5,400,000,000		$ 4,700,000,000
Future accretion of debt discounts																				5,100,000
Future amortization of debt premiums																				$ 5,100,000
7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017
Debt Instrument
Debt instrument, interest rate																									7.875%
Debt redemption price as percentage of principal																		103.938%
The 2021 Notes
Debt Instrument
Debt redemption price as percentage of principal				100.00%
Percentage of principal repayment on the event of change of control				101.00%					101.00%
The 2021 Notes \| Minimum
Debt Instrument
Debt percentage of redemption premium on principal amount				0.00%
The 2021 Notes \| Maximum
Debt Instrument
Debt percentage of redemption premium on principal amount				103.94%
Original 2021 Notes
Debt Instrument
Debt instrument, aggregate principal amount				$ 600,000,000					$ 600,000,000
Additional 2021 Notes
Debt Instrument
Debt instrument, aggregate principal amount			$ 750,000,000
Net proceed from issuance of debt note			$ 748,800,000
Aggregate amount for certain event				$ 50,000,000					$ 50,000,000
Payment default classification period for interest payment				30 days
4.25% Senior Notes Due 2023 and 5.50% Senior Notes Due 2025
Debt Instrument
Percentage of principal repayment on the event of change of control																				101.00%				101.00%
Wynn Macau \| Amended Wynn Macau Credit Facilities
Debt Instrument
Line of credit														$ 2,500,000,000
Fee required for unborrowed amounts, percentage per annum														0.61%
Deferred financing cost and third party fees													$ 17,700,000
Deferred financing costs, net													$ 33,200,000										$ 33,200,000
Consolidated leverage ratio excess cash flow percentage																				50.00%	50.00%
Consolidated leverage ratio, minimum																				4.0	4.0
Leverage ratio, maximum																				4.50	4.50
Interest coverage ratio, minimum																				2.00	2.00
Wynn Macau \| Amended Wynn Macau Credit Facilities \| Hong Kong Interbank Offered Rate (HIBOR)
Debt Instrument
Interest rate														2.50%
Wynn Macau \| Amended Wynn Macau Credit Facilities \| Hong Kong Interbank Offered Rate (HIBOR) \| Minimum
Debt Instrument
Interest rate														1.75%
Wynn Macau \| Amended Wynn Macau Credit Facilities \| Hong Kong Interbank Offered Rate (HIBOR) \| Maximum
Debt Instrument
Interest rate														2.50%
Wynn Macau \| Bank Guarantee Reimbursement Agreement \| Performance Guarantee
Debt Instrument
Bank guarantee carrying amount																				$ 37,000,000				MOP$ 300.0
Guarantee, period at fixed amount																				180 days	180 days
Maximum guarantee by Macau government																				$ 300,000	MOP$ 2.3
Wynn Macau \| Revolving Credit Facility \| Amended Wynn Macau Credit Facilities
Debt Instrument
Credit facility, maximum borrowing capacity														$ 1,550,000,000
Availability of credit facility																				1,420,000,000
Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans
Debt Instrument
Line of credit														$ 950,000,000
Increase of credit facility					$ 200,000,000
Wynn America \| Wynn America Credit Facilities
Debt Instrument
Credit facility, maximum borrowing capacity		$ 1,250,000,000
Fee required for unborrowed amounts, percentage per annum		0.30%
Maximum consolidated senior secured net leverage ratio		2.75
Minimum consolidated EBITDA		$ 200,000,000.0
Deferred financing costs, net																				23,400,000
Availability of credit facility																				1,240,000,000
Wynn America \| Wynn America Credit Facilities \| Base Rate
Debt Instrument
Interest rate		0.75%
Wynn America \| Wynn America Credit Facilities \| Eurodollar Rate
Debt Instrument
Interest rate		1.75%
Wynn America \| Revolving Credit Facility \| Wynn America Credit Facilities
Debt Instrument
Credit facility, maximum borrowing capacity		$ 375,000,000
Letter of credit outstanding																				$ 8,900,000
Wynn America \| Term Loans \| Wynn America Credit Facilities
Debt Instrument
Line of credit		$ 875,000,000
Wynn Macau Limited \| Senior Notes \| 5 1/4% Wynn Macau Senior Notes, Due October 15, 2021
Debt Instrument
Debt maturity date																				Oct. 15, 2021	Oct. 15, 2021	Oct. 15, 2021
Debt instrument, interest rate																				5.25%		5.25%		5.25%
Debt instrument, redemption terms									At any time on or before October 14, 2016, WML may redeem the 2021 Notes, in whole or in part, at a redemption price equal to the greater of (a) 100% of the aggregate principal amount of the 2021 Notes or (b) a “make-whole” amount as determined by an independent investment banker in accordance with the terms of the WML Indenture, in either case, plus accrued and unpaid interest.
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017
Debt Instrument
Debt instrument, interest rate																				7.875%		7.875%		7.875%
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument
Debt maturity date																				May 01, 2020	May 01, 2020	May 01, 2020
Debt instrument, aggregate principal amount																	$ 352,000,000
Debt instrument, interest rate																				7.875%		7.875%		7.875%
Percentage of principal repayment on the event of change of control																				101.00%				101.00%
Repurchase amount, carrying value																				$ 5,000,000
Redemption fees paid																				$ 500,000
Long-term debt previous due date																				December 2014	December 2014
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020 \| Minimum
Debt Instrument
Debt premium decrease																				$ 0
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020 \| Maximum
Debt Instrument
Debt redemption price as percentage of principal																	103.938%
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Debt Instrument
Debt maturity date																				Aug. 15, 2020	Aug. 15, 2020	Aug. 15, 2020
Debt instrument, aggregate principal amount																$ 1,320,000,000
Debt instrument, interest rate																				7.75%		7.75%		7.75%
Percentage of principal repayment on the event of change of control																101.00%
Repurchase amount, carrying value																			$ 93,400,000
Redemption fees paid																			$ 9,100,000
Long-term debt previous due date																				December 2014	December 2014
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020 \| Minimum
Debt Instrument
Debt premium decrease																				$ 0
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020 \| Maximum
Debt Instrument
Debt redemption price as percentage of principal																103.875%
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument
Debt maturity date																				Mar. 15, 2022	Mar. 15, 2022	Mar. 15, 2022
Debt instrument, aggregate principal amount																										$ 900,000,000
Debt instrument, interest rate																				5.375%		5.375%		5.375%		5.375%
Debt redemption price as percentage of principal																				102.688%	102.688%
Percentage of principal repayment on the event of change of control																				101.00%				101.00%
Debt premium decrease																				$ 0
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Debt Instrument
Debt maturity date																				May 30, 2023	May 30, 2023	May 30, 2023
Debt instrument, aggregate principal amount										$ 500,000,000
Debt instrument, interest rate										4.25%										4.25%		4.25%		4.25%
Debt redemption date											Feb. 28, 2023									Feb. 28, 2023	Feb. 28, 2023
Debt instrument, redemption terms										the Issuers satisfied and discharged the 2017 Indenture and, in November 2013										The Issuers may, at their option, redeem the 2023 Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for 2023 Notes that are redeemed before February 28, 2023 will be equal to the greater of (a) 100% of the principal amount of the 2023 Notes to be redeemed or (b) a “make-whole” amount described in the 2023 Indenture, plus in either case accrued and unpaid interest to, but not including, the redemption date.	The Issuers may, at their option, redeem the 2023 Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for 2023 Notes that are redeemed before February 28, 2023 will be equal to the greater of (a) 100% of the principal amount of the 2023 Notes to be redeemed or (b) a “make-whole” amount described in the 2023 Indenture, plus in either case accrued and unpaid interest to, but not including, the redemption date.
Debt redemption price as percentage of principal									100.00%											100.00%	100.00%
Percentage of principal repayment on the event of change of control																				101.00%				101.00%
Payment default classification period for interest payment																				30 days	30 days
Debt instrument issuance date																				May 22, 2013	May 22, 2013
Capitalized financing costs																						$ 4,100,000
Aruze USA, Inc.
Debt Instrument
Debt maturity date						Feb. 18, 2022
Debt instrument, aggregate principal amount						$ 1,940,000,000.00									$ 1,940,000,000.00
Debt instrument, interest rate						2.00%									2.00%
Common stock redeemed, shares \| shares						24,549,222									24,549,222
Aruze USA, Inc. \| Promissory Note \| Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument
Debt maturity date															Feb. 18, 2022					Feb. 18, 2022	Feb. 18, 2022	Feb. 18, 2022
Debt instrument, aggregate principal amount						$ 1,940,000,000									$ 1,940,000,000					$ 1,940,000,000
Debt instrument, interest rate						2.00%									2.00%					2.00%		2.00%		2.00%
Interest payment due								$ 38,700,000				$ 38,700,000
World Travel, LLC \| Secured Debt \| $42 Million Note Payable, Due April 1, 2017
Debt Instrument
Interest rate																				1.25%	1.25%	1.25%
Debt maturity date																				Apr. 01, 2017	Apr. 01, 2017	Apr. 01, 2017
Debt instrument, aggregate principal amount																				$ 42,000,000		$ 42,000,000					$ 42,000,000
Principal payments on long-term debt							$ 31,500,000													350,000
Balloon payment due at maturity																				$ 28,000,000
World Travel, LLC \| Secured Debt \| $42 Million Note Payable, Due April 1, 2017 \| London Interbank Offered Rate (LIBOR)
Debt Instrument
Number of basis points of interest paid in addition to LIBOR \| BasisPoint																				125	125
Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans
Debt Instrument
Debt instrument payment terms														The principal amount of the term loan is required to be repaid in two equal installments in July 2017 and July 2018. The senior secured facilities bear interest for the first six months after closing at LIBOR or HIBOR plus a margin of 2.50% and thereafter will be subject to LIBOR or HIBOR plus a margin of between 1.75% to 2.50% based on Wynn Macau’s leverage ratio.
Future accretion of debt discounts																				$ 3,830,000		4,900,000
Wynn Macau \| Term Loans \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017
Debt Instrument
Future accretion of debt discounts																						7,384,000
Wynn Macau \| Term Loans \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument
Future accretion of debt discounts																				$ 1,279,000		$ 1,463,000
Due July 31, 2017 \| Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans
Debt Instrument
Maturity period														2017-07
Debt Instrument First Installment Payment Date																				Jul. 31, 2017	Jul. 31, 2017	Jul. 31, 2017
Due July 31, 2017 \| Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans \| Minimum
Debt Instrument
Interest rate																				1.75%	1.75%	1.75%
Due July 31, 2017 \| Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans \| Maximum
Debt Instrument
Interest rate																				2.50%	2.50%	2.50%
Due July 31, 2018 \| Term Loans \| Senior Secured Credit Facility Term Loans
Debt Instrument
Debt maturity date																				Jul. 31, 2018	Jul. 31, 2018	Jul. 31, 2018
Due July 31, 2018 \| Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans
Debt Instrument
Maturity period														2018-07
Due July 31, 2018 \| Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans \| Minimum
Debt Instrument
Interest rate																				1.75%	1.75%	1.75%
Due July 31, 2018 \| Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans \| Maximum
Debt Instrument
Interest rate																				2.50%	2.50%	2.50%
Subsequent Event \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument
Valid tenders received at time of cash tender offer expiration	305,800,000
Principal amount for cash tender offer	377,000,000
Subsequent Event \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Debt Instrument
Deferred financing cost and third party fees	(101,200,000)
Valid tenders received at time of cash tender offer expiration	1,146,500,000
Principal amount for cash tender offer	$ 1,226,600,000
Revolving Credit Facility \| Wynn Macau \| Line of Credit \| London Interbank Offered Rate (LIBOR)
Debt Instrument
Interest rate														2.50%
Revolving Credit Facility \| Wynn Macau \| Line of Credit \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument
Interest rate														1.75%
Revolving Credit Facility \| Wynn Macau \| Line of Credit \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument
Interest rate														2.50%

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument
Long-term debt total	$ 7,345,262	$ 6,587,568
Current portion of long-term debt	0	(1,050)
Non current portion of long-term debt	7,345,262	6,586,518
Wynn Macau \| Term Loans \| Senior Secured Credit Facility Term Loans
Debt Instrument
Long-term debt total	948,823	948,028
Wynn Macau \| Revolving Credit Facility \| Senior Revolving Credit Facility due July 31, 2017
Debt Instrument
Long-term debt total	132,524	0
Wynn Macau \| Senior Notes \| 5 1/4% Wynn Macau Senior Notes, Due October 15, 2021
Debt Instrument
Long-term debt total	1,355,141	600,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Debt Instrument
Long-term debt total	500,000	500,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument
Long-term debt total	345,731	350,547
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Debt Instrument
Long-term debt total	1,226,600	1,320,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument
Long-term debt total	900,000	900,000
Aruze USA, Inc. \| Promissory Note \| Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument
Long-term debt total	1,936,443	1,936,443
World Travel, LLC \| Secured Debt \| $42 Million Note Payable, Due April 1, 2017
Debt Instrument
Long-term debt total	$ 0	$ 32,550

Long-Term Debt - Scheduled Maturities of Long-Term Debt (Detail) $ in Thousands	Dec. 31, 2014 USD ($)
Debt Disclosure [Abstract]
2017	$ 508,922
2018	576,256
2019	0
Thereafter	6,260,052
Total	$ 7,345,230

Interest Rate Swaps - Additional Information (Detail) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($) Agreement	Dec. 31, 2014 HKD ($) Agreement	Dec. 31, 2013 USD ($)
Wynn Macau Swap \| Two of the Swap Agreements
Interest Rate Swaps
Number of interest rate swap agreements \| Agreement	3	3
Interest rate swap fixed interest rate	0.73%	0.73%
Interest rate swap notional amount	$ 509,400	$ 3,950
Interest rate swap maturity date	Jul. 01, 2017
Wynn Macau Swap \| Two of the Swap Agreements \| Minimum
Interest Rate Swaps
Interest rate swap fixed interest rate	2.48%	2.48%
Wynn Macau Swap \| Two of the Swap Agreements \| Maximum
Interest Rate Swaps
Interest rate swap fixed interest rate	3.23%	3.23%
Wynn Macau Swap \| Interest Rate Swap 3
Interest Rate Swaps
Number of interest rate swap agreements \| Agreement	1	1
Interest rate swap fixed interest rate	0.68%	0.68%
Interest rate swap notional amount \| $	$ 243,800
Interest rate swap maturity date	Jul. 01, 2017
Wynn Macau Swap \| Interest Rate Swap 3 \| Minimum
Interest Rate Swaps
Interest rate swap fixed interest rate	2.43%	2.43%
Wynn Macau Swap \| Interest Rate Swap 3 \| Maximum
Interest Rate Swaps
Interest rate swap fixed interest rate	3.18%	3.18%
Fair Value, Measurements, Recurring
Interest Rate Swaps
Interest rate swap assets (liability) included in deposits and other assets, fair value \| $	$ 5,915		$ 10,308

Related Party Transactions - Additional Information (Detail)		1 Months Ended			12 Months Ended	24 Months Ended
	Feb. 25, 2015 USD ($)	Dec. 29, 2012 USD ($)	Mar. 01, 2012 USD ($)	Feb. 18, 2012 shares	Dec. 31, 2014 USD ($) a	Feb. 29, 2012 USD ($)	Dec. 31, 2013 USD ($)
Related Party Transaction
Common shares redeemed and canceled \| shares				24,549,222
Amount due to officers and directors					$ 600,000		$ 800,000
Notice required for lease termination at Villa Suite, days					90 days
Purchase of home for director					$ 9,400,000
Number of percentage points used to determine discount on home purchase					10.00%
Consideration in event of employee agreement termination					$ 1.00
Area of land (in acres) \| a					2
Term of notice required to exercise option					30 days
Agreement expiration					2020-10
Surname Rights Agreement expiration date					October 24, 2017
SW Lease
Related Party Transaction
Rental value			$ 440,000			$ 503,831
SW Lease \| After Amendment
Related Party Transaction
Rental value		$ 525,000
Subsequent Event \| SW Lease \| After Amendment
Related Party Transaction
Rental value	$ 559,295

Property Charges and Other - Additional Information (Detail)	Dec. 31, 2014 ft²
Wynn Macau
Property and Equipment, Net
Square footage of renovated area	27,000

Property Charges and Other - Property Charges and Other (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other Income and Expenses [Abstract]
Net loss on assets abandoned/retired for remodel or sold	$ 6,975	$ 7,358	$ 29,524
Donation to University of Macau Foundation	3,462	3,780	4,083
Loss on contract termination	0	6,000	315
Loss on show cancellation	0	0	6,056
Property charges and other	$ 10,437	$ 17,138	$ 39,978

Stockholder's Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended					12 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Aug. 31, 2014	May 31, 2014	Feb. 28, 2014	Feb. 18, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity, Class of Treasury Stock
Common stock, shares authorized	400,000,000						400,000,000	400,000,000
Common stock, par value	$ 0.01						$ 0.01	$ 0.01
Common stock, shares outstanding	101,439,297						101,439,297	101,192,408
Common stock, voting rights							one vote
Net cost for common stock purchased							$ 2,062	$ 15,472	$ 911
Stock repurchases, shares							9,578	114,355	7,640
Dividend paid		$ 1.50	$ 1.25	$ 1.25	$ 1.25
Additional dividend paid		$ 1.00
Preferred stock, shares authorized	40,000,000						40,000,000	40,000,000
Preferred stock, par value	$ 0.01						$ 0.01	$ 0.01
Preferred stock, shares issued	0						0	0
Common shares redeemed and canceled						24,549,222
Equity Repurchase Program
Equity, Class of Treasury Stock
Repurchase of equity amount authorized	$ 1,700,000						$ 1,700,000
Net cost for common stock purchased	$ 1,100,000
Stock repurchases, shares	12,804,954						0	0	0

Noncontrolling Interest - Additional Information (Detail) $ / shares in Units, $ in Thousands									1 Months Ended					12 Months Ended
	Sep. 23, 2014 USD ($)	Sep. 23, 2014 $ / shares	Jun. 06, 2014 USD ($)	Jun. 06, 2014 $ / shares	Sep. 23, 2013 USD ($)	Sep. 23, 2013 $ / shares	Jun. 06, 2013 USD ($)	Jun. 06, 2013 $ / shares	Nov. 30, 2014 $ / shares	Aug. 31, 2014 $ / shares	May 31, 2014 $ / shares	Feb. 28, 2014 $ / shares	Oct. 31, 2009 shares	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Noncontrolling Interest
Subsidiary common stock, shares issued \| shares													1,437,500,000
Percentage of issuance of common stock													27.70%
Net income attributable to noncontrolling interest														$ 231,090	$ 275,505	$ 226,663
Dividend paid \| $ / shares									$ 1.50	$ 1.25	$ 1.25	$ 1.25
Wynn Macau Limited
Noncontrolling Interest
Subsidiary common stock, shares issued \| shares													1,437,500,000
Dividend paid \| $ / shares		$ 0.70		$ 0.98		$ 0.50		$ 1.24
Total dividend	$ 469,200		$ 655,800		$ 334,500		$ 828,600
Cash Dividends Paid to Parent Company	338,700		474,000		241,800		599,100
Reduction in noncontrolling interest	$ 130,600		$ 181,800		$ 92,700		$ 229,600

Benefit Plans - Defined Contribution Plan (Detail) - 401(k) Plan - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Contribution Plan Disclosure
Company's matching contribution percentage	50.00%	50.00%
Annual contributions per employee amount	$ 750	$ 500
Retirement savings plan contribution expense	$ 2,000,000	$ 1,200,000	$ 0
Maximum
Defined Contribution Plan Disclosure
Employee contributions, percentage	6.00%	6.00%
Wynn Macau
Defined Contribution Plan Disclosure
Retirement savings plan contribution expense	$ 8,700,000	$ 7,500,000	$ 7,100,000
Employee contribution percentage	5.00%
Company's matching contribution percentage	10.00%
Vesting period	10 years

Benefit Plans - Pension Plan (Detail) - Southern Nevada Culinary and Bartenders Pension Plan - Multi-employer Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure
Multi-employer plan, period contributions	$ 9.2	$ 9.0	$ 8.6
Company's matching contribution percentage	5.00%

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2014	May 16, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Stock based compensation costs			$ 44,906	$ 39,732	$ 19,843
Stock-based compensation capitalized into construction			5,710	$ 195	$ 195
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Stock based compensation costs			$ 17,900
Stock-based compensation capitalized into construction	$ 5,500
Share Award Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						50,000,000
WRL 2002 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			12,750,000
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Nonvested Awards, Unamortized Compensation Cost Not yet Recognized			$ 22,700
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years
Unrecognized compensation, stock options			$ 24,400
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized							4,409,390
Expiration period			10 years
Aggregate amount of common stock available for grant			4,407,390
Unrecognized compensation cost, weighted average period			3 years 1 month 6 days
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation, stock options			$ 1,300
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			518,750,000
Unrecognized compensation cost, weighted average period			3 years 4 months 24 days
Chief Operating Officer
Share-based Compensation Arrangement by Share-based Payment Award
Accelerated compensation cost related to outgoing executive		$ 23,000

Stock-Based Compensation - Schedule of Option Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	May 16, 2014
Stock Option Exercises from the Plans [Abstract]
Stock based compensation costs	$ 44,906,000	$ 39,732,000	$ 19,843,000
Stock-based compensation capitalized into construction	$ 5,710,000	$ 195,000	195,000
Share Option Plan
Options
Outstanding at January 1, 2014	3,090,000	2,910,000		3,090,000
Granted	644,000
Exercised	(464,000)
Outstanding at December 31, 2014	3,090,000	2,910,000
Fully vested and expected to vest at December 31, 2014				3,090,000
Exercisable at December 31, 2014				990,000
Weighted Average Exercise Price
Outstanding at January 1, 2014	$ 2.44
Granted	4.00
Exercised	1.66
Outstanding at December 31, 2014	$ 2.88	$ 2.44
Fully vested and expected to vest at December 31, 2014				$ 2.88
Exercisable at December 31, 2014				$ 2.37
Weighted Average Remaining Contractual Term
Outstanding at December 31, 2014	7 years 6 months
Fully vested and expected to vest at December 31, 2014	7 years 6 months
Exercisable at December 31, 2014	6 years 6 months
Aggregate Intrinsic Value
Exercisable at December 31, 2014				$ 505,273
Stock Option Exercises from the Plans [Abstract]
Intrinsic value	$ 1,134	$ 0	0
Cash received	$ 773	$ 0	$ 0
Shares authorized for issuance				518,750,000
Unrecognized compensation cost, weighted average period	3 years 4 months 24 days
Unrecognized compensation, stock options				$ 1,300,000
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Options
Outstanding at January 1, 2014	1,380,976	1,606,309		1,380,976
Granted	25,800
Exercised	(211,133)
Forfeited or expired	(40,000)
Outstanding at December 31, 2014	1,380,976	1,606,309
Fully vested and expected to vest at December 31, 2014				1,260,693
Exercisable at December 31, 2014				355,610
Weighted Average Exercise Price
Outstanding at January 1, 2014	$ 75.89
Granted	201.22
Exercised	52.51
Forfeited or expired	140.36
Outstanding at December 31, 2014	$ 79.93	$ 75.89
Fully vested and expected to vest at December 31, 2014				$ 78.98
Exercisable at December 31, 2014				$ 65.10
Weighted Average Remaining Contractual Term
Outstanding at December 31, 2014	4 years 4 months 2 days
Fully vested and expected to vest at December 31, 2014	4 years 4 months 21 days
Exercisable at December 31, 2014	4 years 9 months 11 days
Aggregate Intrinsic Value
Outstanding at December 31, 2014				$ 96,400,313
Fully vested and expected to vest at December 31, 2014				89,241,158
Exercisable at December 31, 2014				29,751,409
Stock Option Exercises from the Plans [Abstract]
Weighted average grant date fair value	$ 29.29	$ 39.93	$ 33.03
Intrinsic value	$ 30,485,000	$ 33,830,000	$ 22,416,000
Cash received	11,086,000	20,436,000	15,583,000
Tax benefits realized	$ 8,506,000	$ 6,362,000	$ 4,903,000
Shares authorized for issuance					4,409,390
Unrecognized compensation cost, weighted average period	3 years 1 month 6 days
Unrecognized compensation, stock options				$ 24,400,000
Expiration period	10 years
Aggregate amount of common stock available for grant				4,407,390

Stock-Based Compensation - Schedule of Nonvested Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award
Tax benefits realized	$ 9,400,000	$ 10,500,000	$ 5,500,000
Share Award Plan
Shares:
Nonvested, beginning of period	0
Granted	8,019,000
Vested	0
Forfeited	(276,000)
Nonvested, end of period	7,743,000	0
Weighted Average Grant Date Fair Value:
Nonvested, beginning of period	$ 0.00
Granted	3.81
Vested	0.00
Forfeited	3.81
Nonvested, end of period	3.81	$ 0.00
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.66	$ 0.78	$ 0.78
Weighted Average Grant Date Fair Value:
Intrinsic value	$ 1,134	$ 0	$ 0
Cash received	$ 773	$ 0	$ 0
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 178.48	$ 125.56	$ 110.04
Fair value of shares vested	$ 9,430,000	$ 36,328,000	$ 15,653,000
Tax benefits realized	870,000	$ 4,112,000	634,000
Nonvested Awards, Unamortized Compensation Cost Not yet Recognized	$ 22,700,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years
Shares:
Nonvested, beginning of period	397,500
Granted	54,500
Vested	(52,834)
Forfeited	(9,166)
Nonvested, end of period	390,000	397,500
Weighted Average Grant Date Fair Value:
Nonvested, beginning of period	$ 113.13
Granted	209.92
Vested	178.48
Forfeited	104.79
Nonvested, end of period	$ 118.00	$ 113.13
Intrinsic value	$ 30,485,000	$ 33,830,000	22,416,000
Cash received	$ 11,086,000	$ 20,436,000	$ 15,583,000

Stock-Based Compensation - Disclosure of Information about Option Exercises (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award
Tax benefits realized	$ 9,400	$ 10,500	$ 5,500
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 178.48	$ 125.56	$ 110.04
Fair value of shares vested	$ 9,430	$ 36,328	$ 15,653
Tax benefits realized	$ 870	$ 4,112	$ 634

Stock-Based Compensation - Schedule of Allocated Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	$ 39,196	$ 39,537	$ 19,648
Stock-based compensation capitalized into construction	5,710	195	195
Stock based compensation costs	44,906	39,732	19,843
Casino
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	8,360	4,791	4,794
Rooms
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	216	853	313
Food and Beverage
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	753	1,202	178
Entertainment, Retail and Other
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	55	477	43
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	29,770	32,214	14,320
Pre-Open Costs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation	$ 42	$ 0	$ 0

Stock-Based Compensation - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	4.00%	3.00%	4.00%
Expected stock price volatility	43.30%	39.40%	48.80%
Risk-free interest rate	1.60%	1.10%	1.20%
Expected term (years)	6 years 6 months	6 years 8 months 12 days	7 years
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	5.00%	5.00%	4.00%
Expected stock price volatility	40.90%	43.30%	49.00%
Risk-free interest rate	1.10%	0.60%	0.70%
Expected term (years)	6 years 6 months	6 years 6 months	6 years 6 months

Income Taxes - Additional Information (Detail) $ / shares in Units, MOP$ in Millions		12 Months Ended
	Nov. 30, 2010	Dec. 31, 2014 USD ($) yr $ / shares	Dec. 31, 2013 USD ($) $ / shares	Dec. 31, 2012 USD ($) $ / shares	Apr. 30, 2012 USD ($)	Dec. 31, 2011 USD ($)	Jul. 31, 2011 USD ($)	Jul. 31, 2011 MOP (MOP$)
Income Taxes
Complementary tax rate	12.00%
Amount of complementary tax exemption		$ 99,400,000	$ 107,300,000	$ 87,100,000
Amount of complementary tax exemption per share \| $ / shares		$ 0.98	$ 1.06	$ 0.84
Annual complementary tax to be paid		$ 1,900,000	$ 1,900,000	$ 1,900,000			$ 1,900,000	MOP$ 15.5
Recognized foreign tax credit tax benefit net of valuation allowance		895,000,000	879,700,000
Increase in valuation allowance for deferred tax assets		709,800,000	755,500,000
Tax benefits realized		9,400,000	10,500,000	5,500,000
Foreign tax credit carryforwards		$ 3,283,700,000
U.S. capital loss carryforward incurred						$ 3,600,000
Foreign tax credit carryforward time period, years \| yr		10
Accumulated earnings to be repatriated		$ 198,600,000
Undistributed earnings of foreign subsidiaries		412,100,000	388,100,000
Temporary differences resulting from earnings of certain non-U.S. subsidiaries		144,200,000	135,800,000
U.S. and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets		88,900,000	60,300,000	55,200,000
Uncertain tax positions, noncurrent		0	29,200,000	29,100,000
Unrecognized tax benefits that would impact the effective tax rate if recognized		20,700,000	20,700,000	18,800,000
Recognized interest and penalties		0	0	300,000
Cash tax payment					$ 1,300,000
Decrease in unrecognized tax benefits due to expiration of the statute of limitations		2,415,000	3,105,000	9,349,000
Minimum
Income Taxes
Unrecognized tax benefit increase resulting in tax settlements		0
Maximum
Income Taxes
Unrecognized tax benefit increase resulting in tax settlements		600,000
Tax Credit Carryforward Expiry In 2018
Income Taxes
Foreign tax credit carryforwards		619,600,000
Tax Credit Carryforward Expiry In 2019
Income Taxes
Foreign tax credit carryforwards		110,900,000
Tax Credit Carryforward Expiry In 2020
Income Taxes
Foreign tax credit carryforwards		530,400,000
Tax Credit Carryforward Expiry In 2021
Income Taxes
Foreign tax credit carryforwards		540,300,000
Tax Credit Carryforward Expiry In 2023
Income Taxes
Foreign tax credit carryforwards		757,000,000
Tax Credit Carryforward Expiry In 2024
Income Taxes
Foreign tax credit carryforwards		725,500,000
Foreign Tax Credit
Income Taxes
Valuation allowance		3,242,100,000	2,542,800,000
Other Deferred Tax Asset
Income Taxes
Valuation allowance		6,900,000	5,800,000
Wynn Macau
Income Taxes
Repatriation of foreign earnings		1,125,300,000	840,900,000
Decrease in unrecognized tax benefits due to expiration of the statute of limitations		$ 3,400,000
Foreign Tax Credit Carryforwards
Income Taxes
Cash tax payment				3,100,000
General Business Tax Carryforwards
Income Taxes
Cash tax payment				900,000
Foreign
Income Taxes
Gaming tax		35.00%
Tax loss carryforward		$ 59,600,000	75,000,000	$ 79,100,000
Valuation allowance		$ 47,800,000	38,400,000
U.S.
Income Taxes
Tax credit of "net" foreign source income		35.00%
Foreign tax credit carryforwards		$ 3,283,669,000	$ 2,614,665,000
Tax loss carryforward		$ 0

Income Taxes - Summary of Consolidated Income (Loss) Before Taxes For Domestic and Foreign Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Domestic	$ 122,974	$ (9,935)	$ (87,122)
Foreign	835,888	996,458	820,120
Total	$ 958,862	$ 986,523	$ 732,998

Income Taxes - Summary of (Benefit) Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Federal, Current	$ 2,260	$ 135	$ 5,912
Foreign, Current	2,043	2,057	2,042
Current, Total	4,303	2,192	7,954
Federal, Deferred	(13,286)	(19,826)	(3,655)
State, Deferred	4,094	0	0
Foreign, Deferred	1,107	0	0
Deferred, Total	(8,085)	(19,826)	(3,655)
Income tax benefit (provision), total	$ (3,782)	$ (17,634)	$ 4,299

Income Taxes - Summary of Income Taxes (Federal Statutory Corporate Tax Rate) (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Federal statutory rate	35.00%	35.00%	35.00%
Foreign tax rate differential	(19.10%)	(23.10%)	(25.60%)
Non-taxable foreign income	(13.10%)	(13.40%)	(15.40%)
Foreign tax credits, net of valuation allowance	(95.20%)	(89.30%)	1.70%
Repatriation of foreign earnings	88.00%	87.20%	0.00%
Other, net	2.90%	1.90%	3.60%
Valuation allowance, other	1.10%	(0.10%)	1.30%
Effective tax rate	(0.40%)	(1.80%)	0.60%

Income Taxes - Summary of Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Long-term:
Foreign tax credit carryforwards	$ 3,283,700
Net deferred tax liability	(30,072)	$ (18,378)
U.S.
Current:
Receivables, inventories, accrued liabilities and other	48,093	36,556
Less: valuation allowance	45,992	34,347
Current deferred tax assets, net, total	2,101	2,209
Long-term:
Foreign tax credit carryforwards	3,283,669	2,614,665
Intangibles and related other	27,201	26,324
Stock based compensation	16,972	10,736
Pre-opening costs	10,876	12,884
Other	10,540	11,341
Gross long-term deferred tax assets	3,349,258	2,675,950
Less: valuation allowance	(3,202,971)	(2,514,258)
Deferred tax assets, net, total	146,287	161,692
Prepaid insurance, maintenance and taxes	(6,948)	(6,243)
Property and equipment	(170,405)	(176,036)
Deferred Tax Assets, Net of Valuation Allowance, Current	2,101	2,209
Foreign
Current:
Accrued liabilities	173	164
Less: valuation allowance	173	164
Current deferred tax assets, net, total	0	0
Long-term:
Pre-opening costs	7,396	3,040
Other	1,930	4,074
Net operating loss carryforwards	16,797	13,701
Property and equipment	22,740	17,441
Less: valuation allowance	(47,653)	(38,256)
Property and equipment	(2,317)	0
Deferred Tax Assets, Net of Valuation Allowance, Current	0	0
Deferred tax assets, net, non current	$ 1,210	$ 0

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance-beginning of year	$ 89,544	$ 84,289	$ 85,498
Additions based on tax positions of the current year	3,297	8,360	8,140
Additions based on tax positions of prior years	322	0	0
Reductions for tax positions of prior years	(867)	0	0
Settlements	(997)	0	0
Lapses in statutes of limitations	(2,415)	(3,105)	(9,349)
Balance-end of year	$ 88,884	$ 89,544	$ 84,289

Commitments and Contingencies - Additional Information (Detail) $ in Billions												1 Months Ended				6 Months Ended	12 Months Ended
	Jun. 18, 2014	Apr. 29, 2014	Feb. 13, 2014 USD ($)	Oct. 29, 2013	May 02, 2013	Apr. 08, 2013	Feb. 14, 2013 USD ($)	Feb. 01, 2013	Oct. 13, 2012	May 02, 2012	Feb. 18, 2012 USD ($) shares	Jul. 29, 2013 USD ($)	Feb. 18, 2012 USD ($) shares	Dec. 31, 2011 USD ($)	Sep. 30, 2011 a	Jun. 30, 2016 Room	Dec. 31, 2014 USD ($) claim Installment	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Jul. 29, 2013 HKD ($)	Feb. 22, 2013 shares	Jun. 19, 2012
Commitments and Contingencies
Land premium payment obligation, current																	$ 30,814,000	$ 29,341,000
Land premium payment obligation, noncurrent																	15,987,000	46,819,000
Contingent rentals																	87,800,000	101,000,000	$ 94,000,000
Rent expenses																	$ 26,100,000	21,900,000	$ 21,500,000
Letter of credit outstanding																		8,900,000
Common stock redeemed, shares \| shares													24,549,222
Debt instrument, interest rate																	2.00%
Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Commitments and Contingencies
Redemption price promissory note, principal amount																	$ 1,940,000,000
Interest payment due			$ 38,700,000				$ 38,700,000
4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Commitments and Contingencies
Debt instrument, interest rate																						4.25%
Aruze USA, Inc.
Commitments and Contingencies
Common stock redeemed, shares \| shares											24,549,222		24,549,222
Redemption price promissory note, principal amount											$ 1,940,000,000.00		$ 1,940,000,000.00
Redemption price promissory note, maturity date											Feb. 18, 2022
Debt instrument, interest rate											2.00%		2.00%
Directors
Commitments and Contingencies
Percentage of shares voted in favor of removal of Mr. Okada																					99.60%
Number of voted shares \| shares																					86,000,000
Minimum
Commitments and Contingencies
Term of employment agreement																	3 years
Maximum
Commitments and Contingencies
Term of employment agreement																	5 years
Cotai Development and Land Concession Contract
Commitments and Contingencies
Quantity of land acquired (acres) \| a															51
Land concession contract period (years)										25 years
Total land premium payable																	$ 193,400,000
Down payment of premium														$ 62,500,000
Number of additional semi-annual payments \| Installment																	8
Individual semi-annual payment of premium (8 total)																	$ 16,400,000
Rate of interest on premium																	5.00%
Total project budget costs																		$ 4,100,000,000
Project costs incurred																	$ 1,800,000,000
Cotai Development and Land Concession Contract \| Guarantee Obligations
Commitments and Contingencies
Guaranteed maximum price of contract												$ 2,600,000,000								$ 20.0
Bond as a percentage of guaranteed maximum price												5.00%
Pre Construction Completion Payments
Commitments and Contingencies
Annual lease payments																	800,000
Post Construction Completion Payments
Commitments and Contingencies
Annual lease payments																	$ 1,100,000
Forecast \| Wynn Palace
Commitments and Contingencies
Number of rooms in hotel \| Room																1,700
Pending Litigation \| Redemption Action and Counterclaim
Commitments and Contingencies
Interim status update period						6 months
Period of stay		6 months		6 months	6 months
Pending Litigation \| Derivative Claims
Commitments and Contingencies
Number of new claims filed \| claim																	6
United States District Court, District of Nevada \| Pending Litigation \| Derivative Claims
Commitments and Contingencies
Period to complete court-mandated actions after stay								30 days
Number of new claims filed \| claim																	4
Eighth Judicial District Court of Clark County, Nevada \| Pending Litigation \| Derivative Claims
Commitments and Contingencies
Number of new claims filed \| claim																	2
Period of stay	45 days								90 days

Commitments and Contingencies - Future Minimum Rentals Received Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2014 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2014	$ 46,837
2015	63,065
2016	55,603
2017	34,546
2018	30,122
Thereafter	44,542
Total	$ 274,715

Commitments and Contingencies - Future Minimum Rental Payable Under Non-cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2014 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2014	$ 12,618
2015	12,684
2016	8,482
2017	8,359
2018	8,436
Thereafter	31,088
Total	$ 81,667

Segment Information - Summary of Results of Operations by Segment (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Segment Reporting Information

Net revenues

$ 1,137,975

$ 1,370,010

$ 1,412,063

$ 1,513,613

$ 1,519,897

$ 1,390,112

$ 1,332,273

$ 1,378,654

$ 5,433,661

$ 5,620,936

$ 5,154,284

Adjusted Property EBITDA

^[1]

1,773,278

1,810,801

1,575,812

Other operating costs and expenses

Pre-opening costs

30,146

3,169

466

Depreciation and amortization

314,119

371,051

373,199

Property charges and other

10,437

17,138

39,978

Corporate expenses and other

111,795

88,729

112,159

Stock-based compensation

39,154

39,538

19,648

Equity in income from unconsolidated affiliates

1,349

1,085

1,086

Total other operating costs and expenses

507,000

520,710

546,536

Operating income

215,530

332,575

341,342

376,831

368,441

313,978

274,024

333,648

1,266,278

1,290,091

1,029,276

Non-operating costs and expenses

Interest income

20,441

15,713

12,543

Interest expense, net of amounts capitalized

(315,062)

(299,022)

(288,759)

(Decrease) increase in swap fair value

(4,393)

14,235

991

Loss from extinguishment of debt

(9,569)

(40,435)

(25,151)

Other

(182)

4,856

3,012

Other income (expense), net

(307,416)

(303,568)

(296,278)

Equity in income from unconsolidated affiliates

1,349

1,085

1,086

Income before income taxes

958,862

986,523

732,998

Benefit (provision) for income taxes

3,782

17,634

(4,299)

Net income

$ 148,193

$ 253,006

$ 258,402

$ 303,043

$ 290,486

$ 248,811

$ 192,716

$ 272,144

962,644

1,004,157

728,699

Macau Operations

Segment Reporting Information

Net revenues

3,796,750

4,040,526

3,667,454

Adjusted Property EBITDA

1,258,082

1,324,119

^[1]

1,167,340

^[1]

Las Vegas Operations

Segment Reporting Information

Net revenues

1,636,911

1,580,410

1,486,830

Adjusted Property EBITDA

$ 515,196

$ 486,682

^[1]

$ 408,472

^[1]

[1]

Segment Information Segment Information - Schedule of Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	$ 1,127,015	$ 506,786	$ 240,985
Las Vegas Operations
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	58,813	63,872
Corporate and Other
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	41,662	640
Macau
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	1,026,540	442,274
Macau \| Macau Operations
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	89,039	60,488
Macau \| Wynn Palace
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	$ 937,501	$ 381,786

Segment Information - Summary of Assets by Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information
Assets	$ 9,062,861	$ 8,377,030	$ 7,276,594
Long-lived assets	6,068,357	5,025,450	4,827,126
Las Vegas Operations
Segment Reporting Information
Assets	3,472,931	3,576,649	3,669,881
Corporate and Other
Segment Reporting Information
Assets	1,241,141	882,218	602,055
Macau
Segment Reporting Information
Assets	4,348,789	3,918,163	3,004,658
Long-lived assets	2,799,781	1,732,485	1,343,381
Macau \| Macau Operations
Segment Reporting Information
Assets	1,520,098	2,510,444	2,439,886
Macau \| Wynn Palace
Segment Reporting Information
Assets	1,854,521	755,452	320,158
Macau \| Other Macau
Segment Reporting Information
Assets	974,170	652,267	244,614
United States
Segment Reporting Information
Long-lived assets	$ 3,268,576	$ 3,292,965	$ 3,483,745

Selected Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Net revenues	$ 1,137,975	$ 1,370,010	$ 1,412,063	$ 1,513,613	$ 1,519,897	$ 1,390,112	$ 1,332,273	$ 1,378,654	$ 5,433,661	$ 5,620,936	$ 5,154,284
Operating income	215,530	332,575	341,342	376,831	368,441	313,978	274,024	333,648	1,266,278	1,290,091	1,029,276
Net income	148,193	253,006	258,402	303,043	290,486	248,811	192,716	272,144	962,644	1,004,157	728,699
Net income attributable to Wynn Resorts, Limited	$ 109,346	$ 191,406	$ 203,906	$ 226,896	$ 213,884	$ 182,020	$ 129,785	$ 202,963	$ 731,554	$ 728,652	$ 502,036
Basic income per share	$ 1.08	$ 1.90	$ 2.02	$ 2.25	$ 2.12	$ 1.81	$ 1.29	$ 2.02	$ 7.25	$ 7.25	$ 4.87
Diluted income per share	$ 1.07	$ 1.88	$ 2.00	$ 2.22	$ 2.10	$ 1.79	$ 1.28	$ 2.00	$ 7.18	$ 7.17	$ 4.82

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Subsequent Events - Additional Information (Detail) - USD ($)			12 Months Ended
	Feb. 10, 2015	Feb. 03, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 18, 2015	Aug. 31, 2010	Apr. 30, 2010
Subsequent Event
Loss from extinguishment of debt			$ (9,569,000)	$ (40,435,000)	$ (25,151,000)
Principal amount for cash tender offer	$ 1,000
Debt instrument, interest rate			2.00%
Subsequent Event
Subsequent Event
Dividend payable, date declared		Feb. 03, 2015
Declared cash dividend		$ 1.50
Dividend payable, date to be paid		Feb. 23, 2015
Dividend payable, record date		Feb. 13, 2015
First Mortgage Notes \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Subsequent Event
Debt instrument, principal amount							$ 1,320,000,000
Debt instrument, interest rate			7.75%	7.75%
Percentage of principal repayment on the event of change of control							101.00%
First Mortgage Notes \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020 \| Subsequent Event
Subsequent Event
Repurchase price per $1,000 principal amount	$ 1,054.21
Loss from extinguishment of debt	$ (101,200,000)
Valid tenders received at time of cash tender offer expiration	1,146,500,000
Principal amount for cash tender offer	1,226,600,000
First Mortgage Notes \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Subsequent Event
Debt instrument, principal amount								$ 352,000,000
Debt instrument, interest rate			7.875%	7.875%
Percentage of principal repayment on the event of change of control			101.00%
First Mortgage Notes \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020 \| Subsequent Event
Subsequent Event
Valid tenders received at time of cash tender offer expiration	305,800,000
Principal amount for cash tender offer	377,000,000
TenderOfferConsiderationInCash	1,073.82
Senior Notes \| 5.50% Senior Notes Due 2025 \| Subsequent Event
Subsequent Event
Debt instrument, principal amount	$ 1,800,000,000
Debt instrument, interest rate						5.50%
Percentage of principal repayment on the event of change of control						101.00%

Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 2,182,164	$ 2,435,041	$ 1,725,219	$ 1,262,587
Investment securities	240,140	174,399
Receivables	237,957	241,932
Total current assets	2,782,331	2,968,814
Property and equipment, net	5,855,842	4,934,449
Investment securities	10,173	79,989
Other assets	212,515	91,001
Investment in subsidiaries	4,243	4,148
Total assets	9,062,861	8,377,030	7,276,594
Current liabilities:
Accounts payable	303,284	272,861
Accrued compensation and benefits	113,228	83,769
Interest payable	107,318	101,442
Other accrued liabilities	67,587	53,375
Deferred income taxes, net	4,847	4,035
Total current liabilities	1,313,165	1,455,534
Long-term debt	7,345,262	6,586,518
Other long-term liabilities	152,131	141,465
Uncertain tax position liability	0	29,200	29,100
Deferred income taxes, net	25,225	14,343
Total liabilities	8,851,770	8,244,679
Commitments and contingencies (Note 2)
Stockholders’ equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, par value $0.01; 400,000,000 shares authorized; 114,170,493 and 113,730,442 shares issued; and, 101,192,408 and 100,866,712 shares outstanding	1,144	1,142
Treasury stock, at cost; 12,978,085 and 12,863,730 shares	(1,145,481)	(1,143,419)
Additional paid-in capital	948,566	888,727
Accumulated other comprehensive income	2,505	2,913
Retained earnings	164,487	66,130
Total Wynn Resorts, Limited stockholders’ deficit	(28,779)	(184,507)
Noncontrolling interest	239,870	316,858
Total equity	211,091	132,351	103,932	2,223,454
Total liabilities and stockholders' equity	9,062,861	8,377,030
Wynn Resorts, Ltd
Current assets:
Cash and cash equivalents	335,111	299,716	$ 179,939	$ 378,486
Investment securities	240,140	169,496
Receivables	1,740	1,804
Prepaid expenses	1,980	3,165
Total current assets	578,971	474,181
Property and equipment, net	11,296	11,314
Investment securities	10,173	79,989
Other assets	62,043	33,787
Due from subsidiaries	369,917	298,410
Investment in subsidiaries	1,217,442	1,269,696
Total assets	2,249,842	2,167,377
Current liabilities:
Accounts payable	1,695	334
Accrued compensation and benefits	17,428	1,326
Interest payable	33,636	33,636
Other accrued liabilities	8,163	4,865
Deferred income taxes, net	4,847	4,034
Total current liabilities	65,769	44,195
Long-term debt	1,936,443	1,936,443
Other long-term liabilities	12,421	40,045
Deferred income taxes, net	24,118	14,343
Total liabilities	2,038,751	2,035,026
Commitments and contingencies (Note 2)
Stockholders’ equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, par value $0.01; 400,000,000 shares authorized; 114,170,493 and 113,730,442 shares issued; and, 101,192,408 and 100,866,712 shares outstanding	1,144	1,142
Treasury stock, at cost; 12,978,085 and 12,863,730 shares	(1,145,481)	(1,143,419)
Additional paid-in capital	948,566	888,727
Accumulated other comprehensive income	2,505	2,913
Retained earnings	164,487	66,130
Total Wynn Resorts, Limited stockholders’ deficit	(28,779)	(184,507)
Noncontrolling interest	239,870	316,858
Total equity	211,091	132,351
Total liabilities and stockholders' equity	$ 2,249,842	$ 2,167,377

Condensed Balance Sheets (Parent) (Detail) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions
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, par 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	114,426,960	114,170,493
Common stock, shares outstanding	101,439,297	101,192,408
Treasury stock, shares	12,987,663	12,978,085
Wynn Resorts, Ltd
Condensed Financial Statements, Captions
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, par 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	114,426,960	114,170,493
Common stock, shares outstanding	101,439,297	101,192,408
Treasury stock, shares	12,987,663	12,978,085

Condensed Statements of Income (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating revenues:
Net revenues	$ 1,137,975	$ 1,370,010	$ 1,412,063	$ 1,513,613	$ 1,519,897	$ 1,390,112	$ 1,332,273	$ 1,378,654	$ 5,433,661	$ 5,620,936	$ 5,154,284
Operating costs and expenses:
General and administrative									492,464	448,788	441,699
Depreciation and amortization									314,119	371,051	373,199
Property charges and other									10,437	17,138	39,978
Total operating costs and expenses									4,167,383	4,330,845	4,125,008
Operating income	215,530	332,575	341,342	376,831	368,441	313,978	274,024	333,648	1,266,278	1,290,091	1,029,276
Other income (expense):
Interest and other income									20,441	15,713	12,543
Interest expense, net of amounts capitalized									(315,062)	(299,022)	(288,759)
Equity in income of subsidiaries									1,349	1,085	1,086
Other income (expense), net									(307,416)	(303,568)	(296,278)
Income before income taxes									958,862	986,523	732,998
Benefit (provision) for income taxes									3,782	17,634	(4,299)
Net income	148,193	253,006	258,402	303,043	290,486	248,811	192,716	272,144	962,644	1,004,157	728,699
Less: Net income attributable to noncontrolling interests.									(231,090)	(275,505)	(226,663)
Net income attributable to Wynn Resorts, Limited	$ 109,346	$ 191,406	$ 203,906	$ 226,896	$ 213,884	$ 182,020	$ 129,785	$ 202,963	$ 731,554	$ 728,652	$ 502,036
Net income:
Basic (in usd per share)	$ 1.08	$ 1.90	$ 2.02	$ 2.25	$ 2.12	$ 1.81	$ 1.29	$ 2.02	$ 7.25	$ 7.25	$ 4.87
Diluted (in usd per share)	$ 1.07	$ 1.88	$ 2.00	$ 2.22	$ 2.10	$ 1.79	$ 1.28	$ 2.00	$ 7.18	$ 7.17	$ 4.82
Weighted average common shares outstanding:
Basic (in shares)									100,927	100,540	103,092
Diluted (in shares)									101,931	101,641	104,249
Wynn Resorts, Ltd
Operating revenues:
Other revenues									$ 2,050	$ 0	$ 0
Net revenues									174,669	184,644	169,419
Operating costs and expenses:
General and administrative									45,934	45,285	70,602
Depreciation and amortization									447	423	421
Property charges and other									0	0	33
Total operating costs and expenses									46,381	45,708	71,056
Operating income									128,288	138,936	98,363
Other income (expense):
Interest and other income									1,997	1,486	1,116
Interest expense, net of amounts capitalized									(38,729)	(38,715)	(33,650)
Equity in income of subsidiaries									864,156	882,760	665,127
Other income (expense), net									827,424	845,531	632,593
Income before income taxes									955,712	984,467	730,956
Benefit (provision) for income taxes									6,932	19,690	(2,257)
Net income									962,644	1,004,157	728,699
Less: Net income attributable to noncontrolling interests.									231,090	275,505	226,663
Net income attributable to Wynn Resorts, Limited									$ 731,554	$ 728,652	$ 502,036
Net income:
Basic (in usd per share)									$ 7.25	$ 7.25	$ 4.87
Diluted (in usd per share)									$ 7.18	$ 7.17	$ 4.82
Weighted average common shares outstanding:
Basic (in shares)									100,927	100,540	103,092
Diluted (in shares)									101,931	101,641	104,249
Wynn Resorts, Ltd \| Wynn Macau
Operating revenues:
Wynn Las Vegas management fees									$ 148,039	$ 160,923	$ 147,101
Wynn Resorts, Ltd \| Wynn Las Vegas
Operating revenues:
Wynn Las Vegas management fees									$ 24,580	$ 23,721	$ 22,318

Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 148,193	$ 253,006	$ 258,402	$ 303,043	$ 290,486	$ 248,811	$ 192,716	$ 272,144	$ 962,644	$ 1,004,157	$ 728,699
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization									314,119	371,051	373,199
Deferred income taxes									(8,086)	(19,826)	(3,655)
Stock-based compensation									39,154	39,538	19,648
Equity in income of subsidiaries									(1,349)	(1,085)	(1,086)
Increase (decrease) in cash from changes in:
Receivables									38	(14,875)	(21,019)
Accounts payable, accrued expenses and other									(102,827)	100,227	18,781
Net cash provided by operating activities									1,098,317	1,676,642	1,185,718
Cash flows from investing activities:
Purchase of investment securities									(200,258)	(222,856)	(183,445)
Proceeds from sales or maturities of investment securities									200,090	146,112	216,051
Net cash used in investing activities									(1,114,352)	(677,580)	(344,854)
Cash flows from financing activities:
Cash distributions									(942,928)	(1,034,986)	(955,493)
Exercise of stock options									11,859	20,436	15,583
Repurchase of common stock									(2,062)	(15,472)	(911)
Net cash used in financing activities									(235,625)	(291,143)	(382,479)
Cash and cash equivalents:
(Decrease) increase in cash and cash equivalents									(252,877)	709,822	462,632
Balance, beginning of year				2,435,041				1,725,219	2,435,041	1,725,219	1,262,587
Balance, end of year	2,182,164				2,435,041				2,182,164	2,435,041	1,725,219
Wynn Resorts, Ltd
Cash flows from operating activities:
Net income									962,644	1,004,157	728,699
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization									447	423	421
Deferred income taxes									(9,192)	(19,826)	(3,655)
Stock-based compensation									21,888	26,964	11,894
Amortization of discount on investment securities and other									4,059	3,338	3,762
Dividends received from subsidiary									887,613	840,914	700,025
Equity in income of subsidiaries									(864,156)	(882,760)	(665,127)
Increase (decrease) in cash from changes in:
Receivables									68	(476)	823
Prepaid expenses									1,185	(467)	(1,695)
Accounts payable, accrued expenses and other									21,540	1,515	38,337
Due from affiliates									(26,900)	(23,721)	(22,318)
Net cash provided by operating activities									999,196	950,061	791,166
Cash flows from investing activities:
Purchase of investment securities									(200,258)	(222,856)	(183,484)
Proceeds from sales or maturities of investment securities									195,164	95,771	202,406
Purchase of other assets									(28,476)	(105)	(33,682)
Due to (from) subsidiaries									(307,525)	4,623	(34,132)
Net cash used in investing activities									(341,095)	(122,567)	(48,892)
Cash flows from financing activities:
Cash distributions									(632,503)	(712,681)	(955,493)
Exercise of stock options									11,859	20,436	15,583
Repurchase of common stock									(2,062)	(15,472)	(911)
Net cash used in financing activities									(622,706)	(707,717)	(940,821)
Cash and cash equivalents:
(Decrease) increase in cash and cash equivalents									35,395	119,777	(198,547)
Balance, beginning of year				$ 299,716				$ 179,939	299,716	179,939	378,486
Balance, end of year	$ 335,111				$ 299,716				$ 335,111	$ 299,716	$ 179,939

WYNN RESORTS, LIMITED (Parent Company Only) (Basis Of Presentation) - Additional Information (Detail)	1 Months Ended
	Oct. 31, 2009 shares
Common stock of subsidiary sold	1,437,500,000
Wynn Macau Limited
Common stock of subsidiary sold	1,437,500,000
Percentage of subsidiary's common stock sold	27.70%

WYNN RESORTS, LIMITED (Parent Company Only) (Commitments and Contingencies) - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Wynn Resorts, Ltd
Commitments and Contingencies
Cash dividends paid to parent company	$ 887.6	$ 840.9	$ 700.0

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 73,991	$ 102,213	$ 91,854
Provisions for Doubtful Accounts	3,906	11,877	18,091
Write-offs, Net of Recoveries	(3,219)	(40,099)	(7,732)
Ending balance	74,678	73,991	102,213
Valuation Allowance of Deferred Tax Assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	2,587,025	1,831,545	1,812,482
Provisions for Doubtful Accounts	745,112	773,509	29,132
Write-offs, Net of Recoveries	(35,348)	(18,029)	(10,069)
Ending balance	$ 3,296,789	$ 2,587,025	$ 1,831,545