Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2018	Feb. 15, 2019	Jun. 29, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
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		107,635,436
Entity Public Float			$ 16,340

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,215,001	$ 2,804,474
Investment securities	0	166,773
Receivables, net	276,644	224,128
Inventories	66,627	71,636
Prepaid expenses and other	83,104	156,773
Total current assets	2,641,376	3,423,784
Property and equipment, net	9,385,920	8,498,756
Restricted cash	4,322	2,160
Investment securities	0	160,682
Intangible assets, net	222,506	123,705
Deferred income taxes, net	736,452	240,533
Other assets	225,693	232,119
Total assets	13,216,269	12,681,739
Current liabilities:
Accounts and construction payables	321,796	285,437
Customer deposits	955,450	1,049,629
Gaming taxes payable	247,341	211,600
Accrued compensation and benefits	163,966	140,450
Accrued interest	61,595	94,695
Current portion of long-term debt	11,960	62,690
Other accrued liabilities	119,955	85,789
Total current liabilities	1,882,063	1,930,290
Long-term debt	9,411,140	9,565,936
Other long-term liabilities	108,277	107,163
Total liabilities	11,401,480	11,603,389
Commitments and contingencies (Note 15)
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; 122,115,585 and 116,391,753 shares issued; 107,232,026 and 103,005,866 shares outstanding, respectively	1,221	1,164
Treasury stock, at cost; 14,883,559 and 13,385,887 shares, respectively	(1,344,012)	(1,184,468)
Additional paid-in capital	2,457,079	1,497,928
Accumulated other comprehensive loss	(1,950)	(1,845)
Retained earnings	921,785	635,067
Total Wynn Resorts, Limited stockholders' equity	2,034,123	947,846
Noncontrolling interests	(219,334)	130,504
Total stockholders' equity	1,814,789	1,078,350
Total liabilities and stockholders' equity	$ 13,216,269	$ 12,681,739

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
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	122,115,585	116,391,753
Common stock, shares outstanding	107,232,026	103,005,866
Treasury stock, shares	14,883,559	13,385,887

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating revenues:
Casino	$ 4,784,990	$ 4,244,303	$ 2,750,890
Rooms	751,800	670,957	595,610
Food and beverage	754,128	732,115	635,411
Entertainment, retail and other	426,742	422,785	363,886
Total operating revenues	6,717,660	6,070,160	4,345,797
Operating expenses:
Casino	3,036,907	2,718,120	1,768,320
Rooms	254,549	244,828	206,848
Food and beverage	611,706	567,690	499,202
Entertainment, retail and other	183,113	196,547	179,150
General and administrative	761,415	685,485	548,143
Litigation settlement	463,557	0	0
Provision (benefit) for doubtful accounts	6,527	(6,711)	8,203
Pre-opening	53,490	26,692	154,717
Depreciation and amortization	550,596	552,368	404,730
Property charges and other	60,256	29,576	54,822
Total operating expenses	5,982,116	5,014,595	3,824,135
Operating income	735,544	1,055,565	521,662
Other income (expense):
Interest income	29,866	31,193	13,536
Interest expense, net of amounts capitalized	(381,849)	(388,664)	(289,365)
Change in derivatives fair value	(4,520)	(1,056)	433
Change in Redemption Note fair value	(69,331)	(59,700)	65,043
Gain (loss) on extinguishment of debt	104	(55,360)	0
Other	(4,074)	(21,709)	(712)
Other income (expense), net	(429,804)	(495,296)	(211,065)
Income before income taxes	305,740	560,269	310,597
Benefit (provision) for income taxes	497,344	328,985	(8,128)
Net income	803,084	889,254	302,469
Less: net income attributable to noncontrolling interests	(230,654)	(142,073)	(60,494)
Net income attributable to Wynn Resorts, Limited	$ 572,430	$ 747,181	$ 241,975
Net income attributable to Wynn Resorts, Limited:
Earnings Per Share, Basic	$ 5.37	$ 7.32	$ 2.39
Earnings Per Share, Diluted	$ 5.35	$ 7.28	$ 2.38
Weighted average common shares outstanding:
Basic (in shares)	106,529	102,071	101,445
Diluted (in shares)	107,032	102,598	101,855

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 803,084	$ 889,254	$ 302,469
Other comprehensive income (loss):
Foreign currency translation adjustments, before and after tax	(1,936)	(3,832)	(180)
Change in net unrealized loss (gain) on investment securities, before and after tax	1,292	(563)	522
Redemption Note credit risk adjustment, net of tax of $2,735	9,211	0	0
Total comprehensive income	811,651	884,859	302,811
Less: comprehensive income attributable to noncontrolling interests	(230,115)	(141,007)	(60,444)
Comprehensive income attributable to Wynn Resorts, Limited	$ 581,536	$ 743,852	$ 242,367

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Total Wynn Resorts, Limited stockholders' equity (deficit)	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2015			101,571,909
Beginning balance at Dec. 31, 2015	$ 21,845	$ (111,979)	$ 1,146	$ (1,152,680)	$ 983,131	$ 1,092	$ 55,332	$ 133,824
Net income	302,469	241,975					241,975	60,494
Currency translation adjustment	(180)	(130)				(130)		(50)
Net unrealized gain (loss) on investments	522	522				522		0
Redemption Note settlement	0
Exercise of stock options (in shares)			74,000
Exercise of stock options	$ 3,487	3,487	$ 1		3,486			0
Issuance of restricted stock (in shares)			412,504
Issuance of restricted stock			$ 4		(4)
Cancellation of restricted stock (in shares)			(60,000)
Cancellation of restricted stock			$ (1)		1
Shares repurchased by the company and held as treasury shares (in shares)	(198,942)		(198,942)
Shares repurchased by the company and held as treasury shares	$ (14,017)	(14,017)		(14,017)
Shares of subsidiary repurchased for share award plan	(7,580)	(5,471)			(5,471)			(2,109)
Sale of ownership interest in a subsidiary, net of income tax expense	239,903	224,013			224,013			15,890
Distributions to noncontrolling interest	(33)							(33)
Cash dividends declared	(313,926)	(202,210)					(202,210)	(111,716)
Excess tax benefits from stock-based compensation	802	802			802
Stock-based compensation	24,589	20,957			20,957			3,632
Ending balance (in shares) at Dec. 31, 2016			101,799,471
Ending balance at Dec. 31, 2016	257,881	157,949	$ 1,150	(1,166,697)	1,226,915	1,484	95,097	99,932
Net income	889,254	747,181					747,181	142,073
Currency translation adjustment	(3,832)	(2,766)				(2,766)		(1,066)
Net unrealized gain (loss) on investments	(563)	(563)				(563)		0
Redemption Note settlement	0
Exercise of stock options (in shares)			661,800
Exercise of stock options	62,209	61,995	$ 7		61,988			214
Issuance of restricted stock (in shares)			706,341
Issuance of restricted stock	$ 19,225	18,572	$ 7		18,565			653
Cancellation of restricted stock (in shares)			(13,333)
Cancellation of restricted stock			$ 0		0
Shares repurchased by the company and held as treasury shares (in shares)	(148,413)		(148,413)
Shares repurchased by the company and held as treasury shares	$ (17,771)	(17,771)		(17,771)
Shares of subsidiary repurchased for share award plan	(392)	(283)			(283)			(109)
Sale of ownership interest in a subsidiary, net of income tax expense	162,497	149,259			149,259			13,238
Distributions to noncontrolling interest	(11,436)							(11,436)
Cash dividends declared	(321,083)	(204,515)					(204,515)	(116,568)
Stock-based compensation	42,250	38,677			38,677			3,573
Ending balance (in shares) at Dec. 31, 2017			103,005,866
Ending balance at Dec. 31, 2017	1,078,350	947,846	$ 1,164	(1,184,468)	1,497,928	(1,845)	635,067	130,504
Net income	803,084	572,430					572,430	230,654
Currency translation adjustment	(1,936)	(1,397)				(1,397)		(539)
Net unrealized gain (loss) on investments	1,292	1,292				1,292		0
Redemption Note settlement	9,211	9,211				9,211
Exercise of stock options (in shares)			261,470
Exercise of stock options	21,971	21,465	$ 2		21,463			506
Issuance of common stock (in shares)			5,300,000
Issuance of common stock	915,240	915,240	$ 53		915,187
Issuance of restricted stock (in shares)			288,270
Issuance of restricted stock	1,799	1,298	$ 3		1,295			501
Cancellation of restricted stock (in shares)			(125,908)
Cancellation of restricted stock	$ 0		$ (1)		1
Shares repurchased by the company and held as treasury shares (in shares)	(19,120)		(1,497,672)
Shares repurchased by the company and held as treasury shares	$ (159,544)	(159,544)		(159,544)
Shares of subsidiary repurchased for share award plan	(6,232)	(4,497)			(4,497)			(1,735)
Distributions to noncontrolling interest	(305,372)							(305,372)
Cash dividends declared	(571,451)	(294,923)					(294,923)	(276,528)
Stock-based compensation	28,377	25,702			25,702			2,675
Ending balance (in shares) at Dec. 31, 2018			107,232,026
Ending balance at Dec. 31, 2018	$ 1,814,789	$ 2,034,123	$ 1,221	$ (1,344,012)	$ 2,457,079	$ (1,950)	$ 921,785	$ (219,334)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 803,084	$ 889,254	$ 302,469
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	550,596	552,368	404,730
Deferred income taxes	(498,654)	(310,854)	6,356
Change in Redemption Note fair value	69,331	59,700	(65,043)
Property charges and other	56,974	44,004	42,670
Amortization of debt issuance costs	36,917	25,013	24,326
Stock-based compensation expense	35,040	43,971	43,722
Provision (benefit) for doubtful accounts	6,527	(6,711)	8,203
Change in derivatives fair value	4,520	1,056	(433)
Loss on extinguishment of debt	4,391	55,360	0
Excess tax benefits from stock-based compensation	0	0	(742)
Increase (decrease) in cash from changes in:
Receivables, net	(59,157)	829	(39,272)
Inventories and prepaid expenses and other	(5,212)	(4,372)	(36,642)
Customer deposits	(92,395)	456,005	163,217
Accounts payable and accrued expenses	49,527	70,954	116,985
Net cash provided by operating activities	961,489	1,876,577	970,546
Cash flows from investing activities:
Capital expenditures, net of construction payables and retention	(1,475,972)	(935,474)	(1,225,943)
Purchase of intangible and other assets	(126,414)	(13,571)	(14,985)
Proceeds from sale of assets	54,213	20,374	3,872
Proceeds from the sale or maturity of investment securities	359,461	200,366	144,829
Purchase of investment securities	(34,098)	(229,328)	(196,750)
Return of investment in unconsolidated affiliates	0	0	727
Net cash used in investing activities	(1,222,810)	(957,633)	(1,288,250)
Cash flows from financing activities:
Repayments of long-term debt	(3,032,267)	(2,959,843)	(400,707)
Proceeds from issuance of long-term debt	2,788,925	2,429,988	1,430,313
Payments for financing costs	(48,297)	(91,174)	(5,381)
Payment to acquire derivatives	(3,900)	0	0
Proceeds from issuance of common stock, net of issuance costs	915,240	0	0
Dividends paid	(569,781)	(320,760)	(325,217)
Distribution to noncontrolling interest	(305,372)	(11,436)	(33)
Repurchase of common stock	(159,544)	(17,771)	(14,017)
Proceeds from exercise of stock options	21,971	62,209	3,487
Shares of subsidiary repurchased for share award plan	(6,232)	(392)	(7,580)
Sale of ownership interest in subsidiaries	75,000	180,000	217,000
Income taxes paid from sale of ownership interest of subsidiary	0	(25,176)	0
Payments on long-term land concession obligation	0	0	(15,978)
Excess tax benefits from stock-based compensation	0	0	742
Net cash (used in) provided by financing activities	(324,257)	(754,355)	882,629
Effect of exchange rate on cash	(1,733)	(3,900)	(1,129)
Cash, cash equivalents and restricted cash:
Increase (decrease) in cash, cash equivalents and restricted cash	(587,311)	160,689	563,796
Balance, beginning of period	2,806,634	2,645,945
Balance, end of period	2,219,323	2,806,634	2,645,945
Supplemental cash flow disclosures
Cash paid for interest, net of amounts capitalized	378,023	367,074	265,076
Cash paid for income taxes	1,885	37,089	2,040
Property and equipment acquired under capital lease	0	16,593	0
Stock-based compensation capitalized into construction	11	80	92
Liability settled with shares of common stock	1,800	19,225	0
Change in accounts and construction payables related to property and equipment	35,934	(35,447)	(34,049)
Change in dividends payable on unvested restricted stock included in other accrued liabilities	1,669	323	(11,291)
Note receivable acquired from sale of ownership interest in subsidiary	$ 0	$ 0	$ 72,464

Organization	12 Months Ended
Organization	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [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 approximately 72% of Wynn Macau, Limited ("WML"), which includes the operations of the Wynn Palace and Wynn Macau resorts (collectively, the "Macau Operations"). In Las Vegas, Nevada, the Company operates and, with the exception of the retail space described below, owns 100% of Wynn Las Vegas, which it also refers to as its Las Vegas Operations. Macau Operations Wynn Palace, which opened on August 22, 2016, features a luxury hotel tower with 1,706 guest rooms, suites and villas, approximately 424,000 square feet of casino space, 13 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 106,000 square feet of retail space, public attractions, including a performance lake and floral art displays and recreation and leisure facilities. Wynn Macau features two luxury hotel towers with a total of 1,008 guest rooms and suites, approximately 273,000 square feet of casino space, 11 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, a rotunda show and recreation and leisure facilities. Las Vegas Operations Wynn Las Vegas features two luxury hotel towers with a total of 4,748 guest rooms, suites and villas, approximately 192,000 square feet of casino space, 33 food and beverage outlets, approximately 290,000 square feet of meeting and convention space, approximately 160,000 square feet of retail space (the majority of which is owned and operated under a joint venture of which the Company owns 50.1%), as well as two theaters, three nightclubs and a beach club and recreation and leisure facilities. In December 2016, the Company entered into a joint venture arrangement (the "Retail Joint Venture") with Crown Acquisitions Inc. ("Crown") to own and operate approximately 88,000 square feet of existing retail space. In November 2017, the Company contributed approximately 74,000 square feet of additional retail space to the Retail Joint Venture. The Company opened the additional retail space during the fourth quarter of 2018. For more information on the Retail Joint Venture, see Note 14, "Retail Joint Venture." Development Projects The Company is currently constructing Encore Boston Harbor, an integrated resort in Everett, Massachusetts, adjacent to Boston along the Mystic River. The resort will contain a hotel, a waterfront boardwalk, meeting and convention space, casino space, a spa, retail offerings and food and beverage outlets. The Company expects to open Encore Boston Harbor in mid-2019. The Company is currently constructing approximately 430,000 square feet of additional meeting and convention space at Wynn Las Vegas and has begun design and site preparation for the reconfiguration of the Wynn Las Vegas golf course, which the Company closed in the fourth quarter of 2017. The Company expects to reopen the golf course in the fourth quarter of 2019 and open the additional meeting and convention space in the first quarter of 2020.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The accompanying consolidated financial statements include the accounts of the Company, its majority-owned subsidiaries and entities the Company identifies as a variable interest entity ("VIE") and of which the Company is determined to be the primary beneficiary. For information on the Company's VIEs, see Note 14, "Retail Joint Venture." 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 current year presentation, including reclassifications related to the adoption of ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and ASU No. 2016-18, Statement of Cash Flows - Restricted Cash (Topic 230), as further discussed in Recently Adopted Accounting Standards. These reclassifications had no effect on previously reported net income.

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP 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, Cash Equivalents and Restricted Cash

Cash and cash equivalents consist of cash and 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, cash equivalents and restricted cash consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Cash and cash equivalents:
Cash (1)	$	1,455,744	$	2,354,244
Cash equivalents (2)	759,257		450,230
Total cash and cash equivalents	2,215,001		2,804,474
Restricted cash (3)	4,322		2,160
Total cash, cash equivalents and restricted cash	$	2,219,323	$	2,806,634

(1) Cash consists of cash on hand and bank deposits.

(2) Cash equivalents consist of bank time deposits and money market funds.

(3) Restricted cash consists of cash collateral associated with an obligation and cash held in a trust in accordance with WML's share award plan.

Investment Securities

Investment securities consist of domestic and foreign short-term and long-term investments in corporate bonds, commercial paper and U.S. government agency bonds reported at fair value, with unrealized gains and losses, net of tax, reported in other comprehensive income (loss). Short-term investments have a maturity date of less than one year and long-term investments are those with a maturity date greater than one year. The Company 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 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.

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 if 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.

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. As of December 31, 2018 and 2017, approximately 85.0% and 81.7%, 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. An estimated allowance for doubtful accounts is maintained to reduce the Company's receivables to their carrying amount, which approximates fair value. The allowance estimate reflects specific review of customer accounts and outstanding gaming promoter accounts as well as management's experience with historical and current collection trends and current economic and business conditions. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received.

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



	December 31,
	2018			2017
Casino	$	229,594		$	173,664
Hotel	22,086			22,487
Other	57,658			58,577
	309,338			254,728
Less: allowance for doubtful accounts	(32,694		)	(30,600		)
	$	276,644		$	224,128

Inventories

Inventories consist of retail merchandise and 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, weighted average and specific identification methods.

Property and Equipment

Purchases of property and equipment are stated at cost, and when placed into service, are depreciated over the estimated useful lives of the assets using the straight-line method as follows:



	Estimated Useful Life in Years
Buildings and improvements	10 - 45
Land improvements	10 - 45
Furniture, fixtures and equipment	3 - 20
Leasehold interest in land	25
Airplanes	20

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 using the weighted average cost of the Company's outstanding borrowings. Interest of $57.3 million, $18.4 million and $94.1 million was capitalized for the years ended December 31, 2018, 2017 and 2016, 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 its Macau gaming concession, Massachusetts gaming license and an intangible asset associated with its undeveloped land in Las Vegas. 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.

Debt Issuance Costs

Direct and incremental costs and original issue discounts and premiums incurred in connection with the issuance of long-term debt are deferred and amortized to interest expense using the effective interest method or, if the amounts approximate the effective interest method, on a straight-line basis. Debt issuance costs incurred in connection with the issuance of the Company's revolving credit facilities are presented in noncurrent assets on the Consolidated Balance Sheets. All other debt issuance costs are presented as a direct reduction of long-term debt on the Consolidated Balance Sheets. Approximately $36.9 million, $25.0 million, and $24.3 million was amortized to interest expense during the years ended December 31, 2018, 2017 and 2016, respectively.

Redemption Price Promissory Note

On February 18, 2012, pursuant to its articles of incorporation, the Company redeemed and canceled all Aruze USA, Inc.’s ("Aruze") 24,549,222 shares of Wynn Resorts’ common stock. In connection with the redemption of the shares, the Company issued a promissory note (the "Redemption Note") with a principal amount of $1.94 billion, a maturity date of February 18, 2022 and an interest rate of 2% per annum, payable annually in arrears on each anniversary of the date of the Redemption Note. The Redemption Note was recorded at fair value in accordance with applicable accounting guidance. The Company repaid the principal amount in full on March 30, 2018. As of December 31, 2017, the fair value of the Redemption Note was $1.88 billion.

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 the risk of the Redemption Note.

In determining the appropriate discount rate to be used to calculate the estimated present value, the Company considered the Redemption Note's subordinated position and credit risk relative to all other debt in the Company's capital structure and credit ratings associated with the Company's traded debt. Observable inputs for the risk free rate were based on Federal Reserve rates for U.S. Treasury securities and the credit risk spread was based on a yield curve index of similarly rated debt.

Derivative Financial Instruments

The Company uses derivative financial instruments to manage interest rate exposure. The fair value of derivative financial instruments is recognized as an asset or liability at each balance sheet date, with changes in fair value recorded in earnings as the Company's derivative financial instruments do not qualify for hedge accounting. The fair value approximates the amount the Company would pay if these contracts were settled at the respective valuation dates.

In accordance with the terms of the Retail Term Loan Agreement (as defined in Note 6, "Long-Term Debt"), the Retail Borrowers (as defined in Note 6, "Long-Term Debt") entered into a five-year interest rate collar with a notional value of $615 million for a cash payment of $3.9 million in July 2018. The interest rate collar establishes a range whereby the Retail Borrowers will pay the counterparty if one-month LIBOR falls below the established floor rate of 1.00%, and the counterparty will pay the Retail Borrowers if one-month LIBOR exceeds the ceiling rate of 3.75%. The interest rate collar settles monthly commencing in August 2019 through the termination date in August 2024. No payments or receipts are exchanged on interest rate collar contracts unless interest rates rise above or fall below the pre-determined ceiling or floor rate, respectively. The Company measures the fair value of the interest rate collar at each balance sheet date based on a Black-Scholes option pricing model, which incorporates observable market inputs such as market volatility and interest rates, with changes in fair value recorded in earnings. As of December 31, 2018, the fair value of the interest rate collar was a liability of $0.6 million and was recorded in other long-term liabilities in the accompanying Consolidated Balance Sheet.

Gaming Taxes

The Company is subject to taxes based on gross gaming revenues in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are recorded as casino expenses in the accompanying Consolidated Statements of Income. These taxes totaled $2.44 billion, $2.17 billion and $1.32 billion for the years ended December 31, 2018, 2017 and 2016, respectively.

Advertising Costs

The cost of advertising is expensed as incurred, and totaled $40.6 million, $37.8 million and $37.0 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Pre-Opening Expenses

Pre-opening expenses represent personnel, advertising, and other costs incurred prior to the opening of new ventures and are expensed as incurred. During the years ended December 31, 2018 and 2017, the Company incurred pre-opening expenses primarily in connection with the development of Encore Boston Harbor. During the year ended December 31, 2016 the Company incurred pre-opening expenses primarily in connection with the development of Wynn Palace.

Income Taxes

The Company is subject to income taxes in the U.S. and 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 generally is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not; otherwise, a valuation allowance is applied.

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

Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. 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. Balance sheet accounts are translated at the exchange rate in effect at each balance sheet date and 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 (loss).

Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

Comprehensive income includes net income and all other non-stockholder changes in equity or other comprehensive income (loss). Components of the Company's comprehensive income are reported in the accompanying Consolidated Statements of Stockholders' Equity and Consolidated Statements of Comprehensive Income.

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



	Foreign currency translation			Unrealized loss on investment securities			Redemption Note			Accumulated other comprehensive loss
January 1, 2018	$	(553	)	$	(1,292	)	$	—		$	(1,845	)
Cumulative credit risk adjustment (1)	—			—			(9,211		)	(9,211		)
Change in net unrealized gain (loss)	(1,397		)	(1,510		)	7,690			4,783
Amounts reclassified to net income (2)	—			2,802			1,521			4,323
Other comprehensive income (loss)	(1,397		)	1,292			9,211			9,106
December 31, 2018	$	(1,950	)	$	—		$	—		$	(1,950	)

(1) On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2016-01, Financial Instruments. The adjustment to the beginning balance represents the cumulative effect of the change in instrument-specific credit risk on the Redemption Note. See "Recently Adopted Accounting Standards—Financial Instruments" below for additional information.

(2) The amounts reclassified to net income include $1.8 million for other-than-temporary impairment losses and $1.0 million in realized losses, both related to investment securities, and a $1.5 million realized gain related to the repayment of the Redemption Note.

Fair Value Measurements

The Company measures certain of its financial assets and liabilities, 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 to measure fair value. These tiers include:


•	Level 1 - Observable inputs such as quoted prices in active markets.


•	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable.


•	Level 3 - 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, 2018		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	759,257	$	—	$	759,257	$	—
Restricted cash	$	4,322	$	2,015	$	2,307	$	—

Liabilities:
Interest rate collar	$	619	$	—	$	619	$	—

			Fair Value Measurements Using:
	December 31, 2017		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	450,230	$	11,200	$	439,030	$	—
Available-for-sale securities	$	327,455	$	—	$	327,455	$	—
Restricted cash	$	2,160	$	—	$	2,160	$	—

Liabilities:
Redemption Note	$	1,879,058	$	—	$	1,879,058	$	—

Earnings Per Share

Basic earnings per share ("EPS") is computed by dividing net income attributable to Wynn Resorts by the weighted average number of shares outstanding during the year. Diluted EPS is computed by dividing net income attributable to Wynn Resorts 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 amounts):



	Years Ended December 31,
	2018		2017		2016
Numerator:
Net income attributable to Wynn Resorts, Limited	$	572,430	$	747,181	$	241,975

Denominator:
Weighted average common shares outstanding	106,529		102,071		101,445
Potential dilutive effect of stock options and restricted stock	503		527		410
Weighted average common and common equivalent shares outstanding	107,032		102,598		101,855

Net income attributable to Wynn Resorts, Limited per common share, basic	$	5.37	$	7.32	$	2.39
Net income attributable to Wynn Resorts, Limited per common share, diluted	$	5.35	$	7.28	$	2.38

Anti-dilutive stock options and restricted stock excluded from the calculation of diluted earnings per share	102		106		758

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), and forfeitures are recognized as they occur. The Company's stock-based employee compensation arrangements are more fully discussed in Note 11, "Stock-Based Compensation."

Recently Adopted Accounting Standards

Revenue Recognition Standard

In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing revenue recognition guidance and creates a new topic for Revenue from Contracts with Customers. The 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 substantially revises required interim and annual disclosures. The Company adopted the guidance on January 1, 2018, which resulted in the following significant impacts on its Consolidated Financial Statements:


•	The promotional allowances line item was eliminated from the Consolidated Statements of Income with the majority of the amount being netted against casino revenues.


•	The estimated cost of providing complimentary goods or services will no longer be allocated primarily to casino expenses from other operating departments as the new guidance requires revenues and expenses associated with providing complimentary goods or services to be classified based on the goods or services provided.


•	The portion of junket commissions previously recorded as a casino expense is now recorded as a reduction of casino revenue.


•	Mandatory service charges on food and beverage are now recorded on a gross basis with the amount received from the customer recorded as food and beverage revenue and the corresponding amount paid to employees recorded as food and beverage expense.

Certain prior period amounts have been adjusted to reflect the full retrospective adoption of the guidance. There was no impact on the Company’s financial condition, operating income or net income.

The tables below provides a reconciliation of amounts previously reported and the resulting impacts from the adoption of the new revenue recognition guidance (in thousands):



	December 31, 2017
	As Previously Reported			Adoption of ASC 606			As Adjusted
Gross revenues	$	6,768,246		$	(698,086	)	$	6,070,160
Promotional allowances	(461,878		)	461,878			—
Operating revenues	6,306,368			(236,208		)	6,070,160
Operating expenses	5,250,803			(236,208		)	5,014,595
Operating income	$	1,055,565		$	—		$	1,055,565



	December 31, 2016
	As Previously Reported			Adoption of ASC 606			As Adjusted
Gross revenues	$	4,836,355		$	(490,558	)	$	4,345,797
Promotional allowances	(370,058		)	370,058			—
Operating revenues	4,466,297			(120,500		)	4,345,797
Operating expenses	3,944,635			(120,500		)	3,824,135
Operating income	$	521,662		$	—		$	521,662

Financial Instruments

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 824-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which requires equity investments to be measured at fair value with changes in fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The update also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. This update eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The Company adopted this guidance on January 1, 2018, which resulted in a $9.2 million cumulative unrealized loss, net of tax, being recorded to accumulated other comprehensive loss with a corresponding increase to retained earnings. The adjustment represents the portion of the cumulative change in the Redemption Note fair value resulting from the change in the instrument-specific credit risk previously included in other income (expense) on the Consolidated Statements of Income.

Restricted Cash

In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows - Restricted Cash (Topic 230), which amends the existing guidance relating to the disclosure of restricted cash and restricted cash equivalents on the statement of cash flows. The ASU requires that amounts generally described as restricted cash or restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted this guidance on January 1, 2018 on a retrospective basis and the updated disclosures are reflected for the periods presented in the Consolidated Statements of Cash Flows. For the years ended December 31, 2017 and 2016, $190.6 million of cash inflows and $190.8 million of cash outflows, respectively, were previously reported within cash flows from financing activities.

Income Taxes

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other than Inventory (Topic 740), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs, rather than deferring such recognition until the asset is sold to an outside party. The Company adopted the guidance effective January 1, 2018, and this adoption did not have a material effect on its Consolidated Financial Statements.

Statement of Cash Flows

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments (Topic 230), which clarifies the classification of certain cash receipts and cash payments on the statement of cash flows. In particular, the new guidance clarifies the classification related to several types of cash flows, including items such as debt extinguishment costs and distributions received from equity method investees. The new guidance also provides a three-step approach for classifying cash receipts and payments that have aspects of more than one class of cash flows. The Company adopted this guidance on January 1, 2018, and this adoption did not have a material effect on its Consolidated Statements of Cash Flows.

Accounting Standards Issued But Not Yet Adopted

Leases

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), and subsequent amendments to the initial guidance: ASU No. 2017-13, ASU No. 2018-10, and ASU No. 2018-11 (collectively, "Topic 842"). Topic 842 amends the existing guidance relating to the definition of a lease, recognition of lease assets and lease liabilities on the balance sheet and the disclosure of key information about leasing activities. Under the new guidance, lessees will be required to recognize a right-of-use asset and lease liability on the balance sheet, measured on a discounted basis. Operating leases are currently not recognized on the balance sheet. Lessor accounting will remain largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance. Entities are required to adopt Topic 842 using a modified retrospective transition method at one of the following application dates: (1) the later of the beginning of the earliest period presented in the financial statements and the lease commencement date or (2) on the effective date of adoption. The Company will adopt Topic 842 on January 1, 2019 using the effective date transition approach, which will result in a balance sheet presentation that is not comparable to the prior period in the first year of adoption.

Topic 842 provides for transition relief by permitting the election of certain practical expedients. The Company is electing the reassessment package of practical expedients, which permits the Company not to reassess whether (1) any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification remains appropriate for any expired or existing leases as of the adoption date and (3) previously capitalized costs continue to qualify as initial direct costs on expired or existing leases as of the adoption date. The Company is not electing the hindsight practical expedient, which requires an entity to use hindsight in determining the lease term and in assessing impairment of right-of-use assets.

While the Company is currently assessing the quantitative impact the guidance will have on its Consolidated Financial Statements and related disclosures, the Company expects the most significant changes will be related to the recognition of right-of-use assets and lease liabilities for operating leases on the Company's Consolidated Balance Sheet, with no material impact to net income or cash flows.

Financial Instruments - Credit Losses

The FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) in 2016. The new guidance replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For trade and other receivables, loans and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. The new guidance will be effective beginning January 1, 2020, with early adoption permitted beginning January 1, 2018. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. The Company does not plan to early adopt this ASU, and is currently evaluating the impact of adopting this guidance.

Cloud Computing Arrangement Implementation Costs

In August 2018, the FASB issued ASU No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The ASU is intended to eliminate potential diversity in practice in accounting for costs incurred to implement cloud computing arrangements that are service contracts by requiring customers in such arrangements to follow internal-use software guidance with respect to such costs, with any resulting deferred implementation costs recognized over the term of the contract in the same income statement line item as the fees associated with the hosting element of the arrangement. The ASU will be effective for the Company on January 1, 2020, with early adoption permitted. The Company is currently assessing whether to early adopt and the impact the guidance will have on its Consolidated Financial Statements and related disclosures.

Changes to the Disclosure Requirements for Fair Value Measurement

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. The new guidance amends the disclosure requirements for recurring and nonrecurring fair value measurements by removing, modifying, and adding certain disclosures on fair value measurements in ASC 820. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The new guidance will be effective beginning January 1, 2020, with early adoption permitted upon issuance of this updated guidance. The Company does not plan to early adopt this ASU, and is currently evaluating the impact of adopting this guidance.

Investment Securities

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Investment Securities

During the year ended December 31, 2018, the Company sold its investment securities for net proceeds of $325.4 million, and as of December 31, 2018, had no investment securities.

As of December 31, 2017, investment securities consisted of the following (in thousands):



	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
As of December 31, 2017
Domestic and foreign corporate bonds	$	328,747	$	6	$	(1,298	)	$	327,455

The Company assesses for indicators of other-than-temporary impairment on a quarterly basis. The Company determines whether (i) it does not have the intent to sell any of these investments, and (ii) it will not likely be required to sell these investments prior to the recovery of the amortized cost. During the year ended December 31, 2018, the Company determined it had an other-than-temporary impairment and recorded a loss of $1.8 million.

Property and Equipment, net

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, net

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



	December 31,
	2018			2017
Buildings and improvements	$	7,707,467		$	7,582,611
Land and improvements	1,141,032			853,738
Furniture, fixtures and equipment	2,288,370			2,211,974
Leasehold interests in land	313,516			314,068
Airplanes	110,623			158,840
Construction in progress	1,912,801			1,016,207
	13,473,809			12,137,438
Less: accumulated depreciation	(4,087,889		)	(3,638,682		)
	$	9,385,920		$	8,498,756

Depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $546.1 million, $547.9 million and $398.2 million, respectively.

As of December 31, 2018 and 2017, construction in progress consisted primarily of costs capitalized, including interest, for the construction of Encore Boston Harbor.

In 2018, the Company sold two airplanes with a total net book value of $65.3 million for proceeds of $50.6 million. As a result, the Company recorded the $14.7 million loss on disposal in Property Charges and Other on the Consolidated Income Statement.

Land Acquisition

During the first quarter of 2018, the Company acquired approximately 38 acres of land on the Las Vegas Strip directly across from Wynn Las Vegas for $336.2 million, approximately 16 acres of which are subject to a ground lease that expires in 2097. The Company expects to use this land for future development.

In accordance with asset acquisition accounting standards, the Company allocated the purchase price to the identifiable assets acquired based on the relative fair value of each component. As a result, the Company recorded $247.0 million of the purchase price as land and $89.1 million of the purchase price as a definite-lived intangible asset. For more information regarding the intangible asset and lease, see Note 5,"Intangible Assets, net."

Intangible Assets, net

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

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



	December 31,
	2018			2017
Indefinite-lived intangible assets:
Water rights	$	6,760		$	6,400
Trademarks and other	1,637			1,387
Total indefinite-lived intangible assets	8,397			7,787

Finite-lived intangible assets:
Macau gaming concession	42,300			42,300
Less: accumulated amortization	(33,965		)	(31,582		)
	8,335			10,718

Massachusetts gaming license	117,700			105,200
Less: accumulated amortization	—			—
	117,700			105,200

Undeveloped land - Las Vegas	89,101			—
Less: accumulated amortization	(1,027		)	—
	88,074			—

Total finite-lived intangible assets	214,109			115,918
Total intangible assets, net	$	222,506		$	123,705

Water rights and trademarks are indefinite-lived assets and, accordingly, are not amortized. Water rights primarily 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 and other primarily represents the costs to acquire the "Le Rêve" name.

The Macau gaming concession is a finite-lived intangible asset that is being amortized over the 20-year life of the concession. The Company expects that amortization of the Macau gaming concession will be $2.4 million each year from 2019 through 2021, and $1.2 million in 2022.

The Massachusetts gaming license cost reflects consideration paid to the Commonwealth of Massachusetts for the license fee and certain costs incurred in connection with and contractually related to obtaining the license. The Company identifies the license as a finite-lived intangible asset and will amortize it over a period of 15 years beginning upon the opening of the resort.

During the first quarter of 2018, the Company acquired approximately 38 acres of land, of which approximately 16 acres are subject to an assumed ground lease that expires in 2097. The assumed ground lease agreement provides for certain minimum lease payments, determined at the time of original lease inception, which the Company determined to be below market when assumed. The ground lease payments are $3.8 million until 2023 and total payments of $370.7 million thereafter. In accordance with asset acquisition accounting standards, the Company allocated the purchase price to the identifiable assets acquired based on the relative fair value of each component. As a result, the Company recorded $89.1 million of the purchase price as a definite-lived intangible asset, which represents the favorable terms of the assumed ground lease relative to the market, to be amortized on a straight-line basis over the remaining term of the lease. The Company expects that amortization of the associated intangible asset will be $1.1 million each year from 2019 through 2096, and $0.7 million in 2097.

Long-Term Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

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



	December 31,
	2018			2017
Macau Related:
Wynn Macau Credit Facilities:
Senior Term Loan Facility, due 2022	$	2,296,999		$	2,298,798
Senior Revolving Credit Facility, due 2022	623,921			—
4 7/8% Senior Notes, due 2024	600,000			600,000
5 1/2% Senior Notes, due 2027	750,000			750,000

U.S. and Corporate Related:
Wynn America Credit Facilities:
Senior Term Loan Facility, due 2021	994,780			1,000,000
4 1/4% Senior Notes, due 2023	500,000			500,000
5 1/2% Senior Notes, due 2025	1,780,000			1,800,000
5 1/4% Senior Notes, due 2027	880,000			900,000
Retail Term Loan, due 2025	615,000			—
Wynn Resorts Term Loan, due 2024	500,000			—
Redemption Price Promissory Note, due 2022	—			1,936,443
	9,540,700			9,785,241
Less: Unamortized debt issuance costs and original issue discounts and premium, net	(117,600		)	(99,231		)
Less: Redemption Note fair value adjustment	—			(57,384		)
	9,423,100			9,628,626
Less: Current portion of long-term debt	(11,960		)	(62,690		)
Total long-term debt, net of current portion	$	9,411,140		$	9,565,936

Macau Related Debt

Wynn Macau Credit Facilities

The Company's credit facilities consist of an approximately $2.30 billion equivalent senior secured term loan facility (the "Wynn Macau Senior Term Loan Facility") and an approximately $750 million equivalent senior secured revolving credit facility (the "Wynn Macau Senior Revolving Credit Facility" and together with the Wynn Macau Senior Term Loan Facility, the "Wynn Macau Credit Facilities"). The borrower is Wynn Resorts (Macau) S.A. ("Wynn Macau SA"), an indirect subsidiary of WML. Wynn Macau SA has the ability to upsize the Wynn Macau Credit Facilities by an additional $1 billion in equivalent senior secured loans upon satisfaction of various conditions.

As of December 31, 2018, the Company had available borrowing capacity under the Wynn Macau Senior Revolving Credit Facility of $123.8 million. Wynn Macau SA borrows and repays its revolving credit facility from time to time as cash needs permit.

In December 2018, Wynn Macau SA amended the Wynn Macau Credit Facilities by entering into the Amended Common Terms Agreement. The Wynn Macau Senior Term Loan Facility was previously repayable in graduating installments of between 2.50% to 7.33% of the principal amount on a quarterly basis commencing December 2018, with a final installment of 50% of the principal amount repayable in September 2021; and the final maturity of any outstanding borrowings from the Wynn Macau Senior Revolving Credit Facility was previously repayable by September 2020. Following the execution of the Amended Common Terms Agreement, the Wynn Macau Senior Term Loan Facility is repayable in graduating installments of between 2.875% to 4.50% of the principal amount on a quarterly basis commencing September 30, 2020, with a final installment of 75% of the principal amount repayable in June 2022; and the final maturity of any outstanding borrowings from the Wynn Macau Senior Revolving Credit Facility is in June 2022. As of December 31, 2018 and 2017, the weighted average interest rate was 4.17% and 3.16%, respectively. The commitment fee required to be paid for unborrowed amounts under the Wynn Macau Senior Revolving Credit Facility, if any, is between 0.52% and 0.79%, per annum, based on Wynn Macau SA's Leverage Ratio. The annual commitment fee is payable quarterly in arrears and is calculated based on the daily average of the unborrowed amounts.

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's Leverage Ratio is greater than 4.5 to 1, then 25% of Excess Cash Flow (as defined in the Wynn Macau Credit Facilities) must be used for prepayment of indebtedness and cancellation of available borrowings under the Wynn Macau Credit Facilities. There is no mandatory prepayment in respect of Excess Cash Flow if Wynn Macau SA's Leverage Ratio is equal to or less than 4.5 to 1. 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 is required by the financial covenants to maintain a Leverage Ratio of not greater than 4.75 to 1 for the fiscal year ending December 31, 2018, and an Interest Coverage Ratio (as defined in the Wynn Macau Credit Facilities) of not less than 2.00 to 1 at any time.

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 and Palo, and the equity interests in Wynn Macau SA. Borrowings under the Wynn Macau Credit Facilities are not guaranteed by the Company or WML.

In connection with the gaming concession contract 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 and the payment of any gaming taxes. As of December 31, 2018, the guarantee was in the amount of 300 million Macau patacas ("MOP") (approximately $37.3 million) and will remain at such amount until 180 days after the end of the term of the concession agreement in 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 MOP 2.3 million (approximately $0.3 million).

WML Finance Revolving Credit Facility

The Company's credit facilities included a HK$3.87 billion (approximately $495.2 million) cash-collateralized revolving credit facility ("WML Finance Credit Facility") under which WML Finance I, Limited, an indirect wholly owned subsidiary of WML, was the borrower. The WML Finance Credit Facility bore interest initially at 1.50% per annum, such rate calculated as the interest rate paid by the lender as the deposit bank for the cash collateral deposited and pledged with the lender plus a margin of 0.40%. On July 18, 2018, the WML Finance Credit Facility matured with no outstanding borrowings.

4 7/8% Senior Notes due 2024 and 5 1/2% Senior Notes due 2027

On September 20, 2017, WML issued the $600 million 4 7/8% Senior Notes due 2024 (the "2024 WML Notes") and the $750 million of 5 1/2% Senior Notes due 2027 (the "2027 WML Notes" and together with the 2024 WML Notes, the "WML Notes"). WML used the net proceeds from the WML Notes and cash on hand to fund the cost of extinguishing the 5 1/4% Senior Notes due 2021 (the "2021 Notes").

The 2024 WML Notes bear interest at the rate of 4 7/8% per annum and mature on October 1, 2024. The 2027 WML Notes bear interest at the rate of 5 1/2% per annum and mature on October 1, 2027. Interest on the WML Notes is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2018.

At any time prior to October 1, 2020 and October 1, 2022, WML may redeem the 2024 WML Notes and 2027 WML Notes, respectively, in whole or in part, at a redemption price equal to the greater of (a) 100% of the principal amount of the WML Notes or (b) a "make-whole" amount as determined by an independent investment banker in accordance with the terms of the indentures for the WML Notes, dated as of September 20, 2017 (the "WML Indentures"). In either case, the redemption price would include accrued and unpaid interest. In addition, at any time prior to October 1, 2020, WML may use the net cash proceeds from certain equity offerings to redeem up to 35% of the aggregate principal amount of the 2024 WML Notes and the 2027 WML Notes, at a redemption price equal to 104.875% of the aggregate principal amount of the 2024 WML Notes and 105.5% of the aggregate principal amount of the 2027 WML Notes, as applicable.

On or after October 1, 2020 and October 1, 2022, WML may redeem the 2024 WML Notes and 2027 WML Notes, respectively, in whole or in part, at a premium decreasing annually from 102.438% and 102.75%, respectively, of the applicable principal amount to 100% of the applicable principal amount, plus accrued and unpaid interest. If WML undergoes a change of control (as defined in the WML Indentures), it must offer to repurchase the WML Notes at a price equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest. In addition, WML may redeem the WML 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 WML Notes fails to meet certain requirements imposed by any Gaming Authority (as defined in the WML Indentures), WML may require the holder or beneficial owner to dispose of or redeem its WML Notes.

Upon the occurrence of (1) any event after which none of WML or any of its subsidiaries have such licenses, concessions, subconcessions or other permits or authorizations as necessary to conduct gaming activities in substantially the same scope as it does on the date of the WML Notes issuance, for a period of ten consecutive days or more, and such event has a material adverse effect on the financial condition, business, properties, or results of operations of WML and its subsidiaries, taken as a whole, or (2) the termination, rescission, revocation or modification of any such licenses, concessions, subconcessions or other permits or authorizations which has had a material adverse effect on the financial condition, business, properties, or results of operations of WML and its subsidiaries, taken as a whole, each holder of the WML Notes will have the right to require WML to repurchase all or any part of such holders' WML Notes at a purchase price in cash equal to 100% of the principal amount thereof, plus accrued and unpaid interest.

The WML 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 the Wynn Macau Credit Facilities and the WML Finance Credit Facility. The WML Notes are not registered under the Securities Act of 1933, as amended (the "Securities Act") and the WML Notes are subject to restrictions on transferability and resale.

U.S. and Corporate Related Debt

Bridge Facility

On March 28, 2018, the Company entered into a credit agreement to provide for an $800 million 364-day term loan (the "Bridge Facility"). On April 3, 2018, the Company repaid all amounts borrowed under the Bridge Facility using net proceeds from the issuance of its common stock. See Note 7, "Stockholders' Equity" for additional information on the Company's issuance of common stock. The Bridge Facility bore interest at either LIBOR plus 2.75% per annum or base rate plus 1.75% per annum.

Redemption Price Promissory Note

On March 30, 2018, the Company used the net proceeds from the Bridge Facility, along with cash on hand and borrowings under its WA Senior Revolving Credit Facility (defined below) to repay the Redemption Note principal amount of $1.94 billion pursuant to the Settlement Agreement and Mutual Release ("Settlement Agreement"). See Note 15, "Commitments and Contingencies" for additional information on the Settlement Agreement.

Commitment Letter

On September 19, 2018, the Company entered into a commitment letter (the “Commitment Letter”) to provide for a 364-day term loan facility to the Company of up to $750 million. On October 24, 2018, the Company agreed to terminate $500 million of the lenders’ commitments under the Commitment Letter, in anticipation of entering into the Credit Agreement discussed below. Accordingly, the lenders' remaining commitments under the Commitment Letter are $250 million. The remaining commitments expire on April 5, 2019 and remained fully available as of December 31, 2018.

Wynn Resorts Term Loan

On October 30, 2018, the Company and certain subsidiaries of the Company entered into a credit agreement (the "Credit Agreement") to provide for a $500.0 million six-year term loan facility (the “Term Loan”). The Term Loan bears interest at a rate of LIBOR plus 2.25% per year. As of December 31, 2018, the interest rate was 4.78%. The Company is required to begin making quarterly principal repayments of $1.3 million beginning in March 2019, with a final installment of $471.3 million due upon maturity on October 30, 2024. The Company intends to use the net proceeds of the Term Loan for general corporate purposes, including, without limitation, repurchases of the Company’s common stock, investments in subsidiaries and/or capital expenditures.

The Credit Agreement contains customary representations and warranties, events of default and negative and affirmative covenants, including, among other things, limitations on: indebtedness; investments; restricted payments; mergers and acquisitions; payment of indebtedness; negative pledges; liens; transactions with affiliates and sales of assets. In addition, the Credit Agreement contains a requirement that the Company must make mandatory prepayments of indebtedness equal to 50.0% of excess cash flow if the Consolidated First Lien Secured Leverage Ratio, as defined, as of the last day of the applicable fiscal year is greater than 4.5 to 1 prior to the year of opening of Encore Boston Harbor or is greater than 4.0 to 1 thereafter. There is no mandatory prepayment in respect of excess cash flow if the Company's Consolidated First Lien Secured Leverage Ratio is equal to or less than 4.5 to 1.

Wynn Group Asia, Inc. and Wynn Resorts Holdings, LLC, each a direct, wholly owned subsidiary of the Company (collectively, the “Guarantors”), guarantee the obligations of the Company under the Credit Agreement. The Company will pledge all of the equity interests in the Guarantors to the extent permitted by applicable law.

Wynn America Credit Facilities

The Company's credit facilities include an $875 million fully funded senior secured term loan facility (the "WA Senior Term Loan Facility I"), a $125 million fully funded senior term loan facility (the "WA Senior Term Loan Facility II") and a $375 million senior secured revolving credit facility (the "WA Senior Revolving Credit Facility," and collectively, the "Wynn America Credit Facilities"). The borrower is Wynn America, LLC ("Wynn America"), an indirect wholly owned subsidiary of Wynn Resorts, Limited.

On April 24, 2017, the Company amended the Wynn America Credit Facilities to, among other things, extend the maturity of portions of the credit facilities. Of the $875 million WA Senior Term Loan Facility I, $69.6 million matures in November 2020 with repayments in quarterly installments of $1.7 million commencing in June 2018 and a final installment of $52.2 million in November 2020, and $805.4 million matures in December 2021 with repayments in quarterly installments of $20.1 million commencing in March 2020 and a final installment of $664.5 million in December 2021. The WA Senior Term Loan Facility II matures in December 2021 with no required repayments until maturity in December 2021. Of the $375 million WA Senior Revolving Credit Facility, $42 million matures in November 2019 and $333 million matures in December 2021. In connection with the amendment, the Company recorded a loss on extinguishment of debt of $1.5 million.

As of December 31, 2018, the Company had available borrowing capacity of $357.3 million, net of $17.7 million in outstanding letters of credit, under the WA Senior Revolving Credit Facility.

Subject to certain exceptions, the Wynn America Credit Facilities bear interest at either base rate plus 0.75% per annum or LIBOR plus 1.75% per annum. As of December 31, 2018 and 2017, the interest rate was 4.10% and 3.32%, respectively. 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.

The Wynn America Credit Facilities contain customary representations and warranties, events of default and negative and affirmative covenants, including, among other things, limitations on: indebtedness; investments; restricted payments; mergers and acquisitions; payment 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 Encore Boston Harbor opens, the Maximum Consolidated Senior Secured Net Leverage Ratio is not to exceed 2.75 to 1. Commencing with the fiscal quarter ending December 31, 2015, 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 of Encore Boston Harbor.

Wynn America and the guarantors have entered into a security agreement (as amended from time to time) 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.

4 1/4% Senior Notes due 2023

In May 2013, Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. ("Capital Corp." and together with Wynn Las Vegas, LLC, the "Issuers") issued the $500 million 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 "Trustee"). The 2023 Notes were issued at par. The Issuers used the net proceeds from the 2023 Notes to cover the cost of extinguishing the 7 7/8% First Mortgage Notes due November 2017.

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 the 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' 2025 Notes and 2027 WLV Notes (both defined below). The 2023 Notes are unsecured, except by the first priority pledge by Wynn Las Vegas Holdings, LLC ("WLVH"), a direct wholly owned subsidiary of Wynn America, of its equity interests in Wynn Las Vegas, LLC. Such equity interests in Wynn Las Vegas, LLC also secure the Issuers' 2025 Notes and 2027 WLV Notes. If Wynn Resorts 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 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 of interest when due on the 2023 Notes; default in payment of the principal, or premium, if any, when due 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.

On March 20, 2018, the Issuers executed a second supplemental indenture (the "Supplemental Indenture") to the 2023 Indenture, as supplemented by the 2025 Indenture, relating to the Issuers’ 2023 Notes. The Supplemental Indenture amended the 2023 Indenture by conforming the definition of "Change of Control" relating to ownership of equity interests in the Company in the Indenture to the terms of the indentures governing the Issuers’ other outstanding notes. As part of executing the Supplemental Indenture, the Issuers paid $25 million to consenting holders of the 2023 Notes. The Company accounted for this transaction as a modification and recorded the $25 million as debt issuance costs on the Consolidated Balance Sheet.

5 1/2% Senior Notes due 2025

In February 2015, the Issuers issued the $1.8 billion 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, the Guarantors and the Trustee. The 2025 Notes were issued at par. The Company used the net proceeds from the 2025 Notes to cover the cost of extinguishing the 7 7/8% First Mortgage Notes due May 1, 2020 (the "7 7/8% 2020 Notes") and the 7 3/4% First Mortgage Notes due August 15, 2020 (the "7 3/4% 2020 Notes" and together with the 7 7/8% 2020 Notes, the "2020 Notes") 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 the 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 also are 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' 2023 Notes and 2027 WLV Notes. The 2025 Notes are unsecured, except by the first priority pledge by WLVH of its equity interests in Wynn Las Vegas, LLC. Such equity interests in Wynn Las Vegas, LLC also secure the 2023 Notes and 2027 WLV Notes. If Wynn Resorts 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 Guarantors. 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 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 2025 Indenture include, among others, the following: default for 30 days in the payment of interest when due on the 2025 Notes; default in payment of the principal, or premium, if any, when due 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 any Guarantor, all 2025 Notes then outstanding will become due and payable immediately without further action or notice.

During the first quarter of 2018, Wynn Resorts purchased $20 million principal amount of the 2025 Notes through open market purchases. As of December 31, 2018, Wynn Resorts holds this debt and has not contributed it to its wholly owned subsidiary, Wynn Las Vegas, LLC.

5 1/4% Senior Notes due 2027

In May 2017, the Issuers issued the $900 million 5 1/4% Senior Notes due 2027 (the "2027 WLV Notes") pursuant to an indenture, dated as of May 11, 2017 (the "2027 Indenture"), among the Issuers, the Guarantors and the Trustee. The 2027 WLV Notes were issued at par. The Issuers used the net proceeds from the 2027 WLV Notes and cash on hand to fund the cost of extinguishing the 5 3/8% First Mortgage Notes due 2022 (the "2022 Notes").

The 2027 WLV Notes will mature on May 15, 2027 and bear interest at the rate of 5 1/4% per annum. The Issuers may, at their option, redeem the 2027 WLV Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for 2027 WLV Notes that are redeemed before February 15, 2027 will be equal to the greater of (a) 100% of the principal amount of the 2027 WLV Notes to be redeemed and (b) a "make-whole" amount described in the 2027 Indenture, plus in either case accrued and unpaid interest, if any, to, but not including, the redemption date. The redemption price for the 2027 WLV Notes that are redeemed on or after February 15, 2027 will be equal to 100% of the principal amount of the 2027 WLV 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 2027 WLV Notes at 101% of the principal amount, plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The 2027 WLV Notes are also subject to mandatory redemption requirements imposed by gaming laws and regulations of gaming authorities in Nevada.

The 2027 WLV Notes are the Issuers' senior unsecured obligations and rank pari passu in right of payment with the Issuers' 2023 Notes and 2025 Notes and rank equally in right of payment with the Issuers' guarantee of the Wynn America Credit Facilities, and rank senior in right of payment to all of the Issuers' existing and future subordinated debt. The 2027 WLV Notes are effectively subordinated in right of payment to all of the Issuers' existing and future secured debt (to the extent of the value of the collateral securing such debt), and structurally subordinated to all of the liabilities of any of the Issuers' subsidiaries that do not guarantee the 2027 WLV Notes.

The 2027 WLV Notes are unsecured, except for the first priority pledge by WLVH of its equity interests in Wynn Las Vegas, LLC. Such equity interests in Wynn Las Vegas, LLC also secure the 2023 Notes and 2025 Notes. If Wynn Resorts, Limited receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2027 WLV Notes will be released.

The 2027 WLV Notes are jointly and severally guaranteed by all of 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 2027 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. The 2027 Indenture also provides that Wynn America may assume all of Wynn Las Vegas, LLC's obligations under the 2027 Indenture and the 2027 WLV Notes if certain conditions set forth in the 2027 Indenture are met.

Events of default under the 2027 Indenture include, among others, the following: default for 30 days in the payment of interest when due on the 2027 WLV Notes; default in payment of the principal, or premium, if any, when due on the 2027 WLV Notes; failure to comply with certain covenants in the 2027 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 2027 WLV Notes then outstanding will become due and payable immediately without further action or notice.

During the first quarter of 2018, Wynn Resorts purchased $20 million principal amount of the 2027 WLV Notes through open market purchases. As of December 31, 2018, Wynn Resorts holds this debt and has not contributed it to its wholly owned subsidiary, Wynn Las Vegas, LLC.

The Issuers and certain of their subsidiaries will guarantee and secure their obligations under the Wynn America Credit Facilities with liens on substantially all of their assets, with such liens limiting the amount of such obligations secured to 15% of their Total Assets (as defined in the indenture for the 2025 Notes).

The 2023 Notes, 2025 Notes and 2027 WLV Notes were offered pursuant to an exemption under the Securities Act. The 2023 Notes, 2025 Notes and 2027 WLV 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, 2025 Notes and 2027 WLV Notes have not been and will not be registered under the Securities Act or under any state securities laws. Therefore, the 2023 Notes, 2025 Notes and 2027 WLV 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.

5 3/8% First Mortgage Notes due 2022

On May 4, 2017, the Issuers commenced a cash tender offer for any and all of the outstanding 2022 Notes. The Company accepted for purchase valid tenders with respect to $498.0 million and paid a tender premium of $14.6 million.

On June 12, 2017, the Issuers redeemed the remaining $402.0 million of the untendered 2022 Notes and discharged the indenture under which the 2022 Notes were issued. The Company paid a premium of $10.8 million related to this redemption.

In connection with the 2027 WLV Notes issuance and the 2022 Notes cash tender offer and subsequent redemption, the Company recorded a loss on extinguishment of debt of $20.8 million.

Retail Term Loan

On July 25, 2018, Wynn/CA Plaza Property Owner, LLC and Wynn/CA Property Owner, LLC (collectively, the "Retail Borrowers"), subsidiaries of the Retail Joint Venture, entered into a term loan agreement (the "Retail Term Loan Agreement").

The Retail Term Loan Agreement provides for a term loan facility to the Retail Borrowers of $615.0 million (the "Retail Term Loan"). The Retail Term Loan is secured by substantially all of the assets of the Retail Borrowers. The Retail Term Loan matures on July 24, 2025 and bears interest at a rate of LIBOR plus 1.70% per annum. As of December 31, 2018, the interest rate was 4.05%. In accordance with the Retail Term Loan Agreement, the Retail Borrowers entered into an interest rate collar agreement with a LIBOR floor of 1.00% and a ceiling of 3.75%. See Note 2, “Summary of Significant Accounting Policies”, for additional information on the interest rate collar. The Retail Borrowers distributed approximately $589 million of the net proceeds of the Retail Term Loan to their members on a proportionate basis to each member’s ownership percentage.

The Retail Borrowers may prepay the Retail Term Loan, in whole but not in part, with a premium of 1.70% of the principal amount prorated for the number of days between the prepayment date and July 25, 2019. Any time subsequent to July 25, 2019, the Retail Borrowers may prepay the Retail Term Loan, in whole or in part, with no premium above the principal amount.

The Retail Term Loan Agreement contains customary representations and warranties, events of default and affirmative and negative covenants for debt facilities of this type, including, among other things, limitations on leasing matters, incurrence of indebtedness, distributions and transactions with affiliates. The Retail Term Loan Agreement also provides for customary sweeps of the Retail Borrowers' excess cash in the event of a default or in the event the Retail Borrowers fail to maintain certain financial ratios as defined in the Retail Term Loan Agreement. In addition, the Company will indemnify the lenders under the Retail Term Loan and be liable, in each case, for certain customary environmental and non-recourse carve out matters pursuant to a hazardous materials indemnity agreement and a recourse indemnity agreement, each entered into concurrently with the execution of the Retail Term Loan Agreement.

Debt Covenant Compliance

As of December 31, 2018, management believes the Company was in compliance with all debt covenants.

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt as of December 31, 2018 were as follows (in thousands):



Years Ending December 31,
2019	$	11,960
2020	275,040
2021	1,193,663
2022	2,455,037
2023	505,000
Thereafter	5,100,000
	9,540,700
Unamortized debt issuance costs and original issue discounts and premium, net	(117,600		)
	$	9,423,100

Fair Value of Long-Term Debt

The estimated fair value of the Company's long-term debt as of December 31, 2018 and 2017, was approximately $8.97 billion and $7.95 billion, respectively, compared to its carrying value, excluding debt issuance costs and original issue discount and premium, of $9.54 billion and $7.85 billion, respectively. The estimated fair value as of December 31, 2017 excludes the Redemption Note. See Note 2, "Summary of Significant Accounting Policies" for discussion of the estimated fair value of the Redemption Note. The estimated fair value of the Company's long-term debt is based on recent trades, if available, and indicative pricing from market information (Level 2 inputs).

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2018
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Offering On April 3, 2018, the Company completed a registered public offering (the "Equity Offering") of 5,300,000 newly issued shares of its common stock, par value $0.01 per share, at a price of $175 per share for proceeds of $915.2 million, net of $11.7 million in underwriting discounts and $0.6 million in offering expenses. The Company used the net proceeds from the Equity Offering to repay all amounts borrowed under the Bridge Facility, together with all interest accrued thereon, and used the remaining net proceeds to repay certain other indebtedness of the Company in April 2018. Common Stock The Company's Board of Directors has authorized an equity repurchase program. As of December 31, 2018, the Company had $1.0 billion in repurchase authority under the program, which may include repurchases from time to time through open market purchases or negotiated transactions, depending on market conditions. During the year ended December 31, 2018, the Company repurchased 1,478,552 shares at a net cost of $156.7 million. During the years ended December 31, 2017 and 2016, no repurchases were made under the equity repurchase program. As of December 31, 2018, the Company had $843.3 million in repurchase authority under the program. During the years ended December 31, 2018, 2017 and 2016, the Company withheld a total of 19,120 shares, 148,413 shares and 198,942 shares, respectively, in satisfaction of tax withholding obligations on vested restricted stock. Dividends During the first quarter of 2018, the Company paid a cash dividend of $0.50 per share and $0.75 per share for the three subsequent quarters, for annual cash dividends of $2.75 per share. In each quarter of 2017 and 2016, the Company paid a cash dividend of $0.50 per share. During the years ended December 31, 2018, 2017 and 2016, the Company recorded $294.9 million, $204.5 million and $202.2 million as a reduction of retained earnings from cash dividends declared. On January 30, 2019, the Company announced a cash dividend of $0.75 per share, payable on February 26, 2019, to stockholders of record as of February 15, 2019. 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, see Note 15, "Commitments and Contingencies."

Noncontrolling Interests	12 Months Ended
Noncontrolling Interests	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Wynn Macau, Limited In October 2009, WML, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau and Wynn Palace, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited through an initial public offering. The Company currently owns approximately 72% of this subsidiary's common stock. The shares of WML 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. On October 5, 2018, WML paid a cash dividend of HK$0.75 per share, consisting of an interim dividend of HK$0.32 per share for the six months ended June 30, 2018 and a special dividend of HK$0.43 per share, for a total of $496.6 million. The Company's share of this dividend was $358.3 million with a reduction of $138.2 million to noncontrolling interests in the accompanying Consolidated Balance Sheet. On April 25, 2018, WML paid a cash dividend of HK$0.75 per share for a total of $497.1 million. The Company's share of this dividend was $358.8 million with a reduction of $138.3 million to noncontrolling interests in the accompanying Consolidated Balance Sheet. On September 15, 2017, WML paid a dividend of HK$0.21 per share for a total of $139.4 million. The Company's share of this dividend was $100.6 million with a reduction of $38.8 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. On June 20, 2017, WML paid a dividend of HK$0.42 per share for a total of $279.9 million. The Company's share of this dividend was $202.0 million with a reduction of $77.9 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. On April 27, 2016, WML paid a dividend of HK$0.60 per share for a total of $401.9 million. The Company's share of this dividend was $290.1 million with a reduction of $111.8 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. Retail Joint Venture During the year ended December 31, 2018 the Retail Joint Venture made aggregate distributions of $305.4 million to its non-controlling interest holder in connection with the distribution of the net proceeds of the Retail Term Loan and distributions made in the normal course of business. For more information on the Retail Term Loan and on the Retail Joint Venture, see Note 6, "Long-Term Debt," and Note 14, "Retail Joint Venture," respectively.

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2018
Retirement Benefits [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. The Company matches 50% of employee contributions, up to 6% of employees' eligible compensation. During the years ended December 31, 2018, 2017 and 2016, the Company recorded matching contribution expenses of $6.4 million, $6.1 million and $6.1 million, respectively. 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, 2018, 2017 and 2016, the Company recorded matching contribution expenses of $16.6 million, $15.8 million and $12.9 million, respectively. Multi-employer pension plan Wynn Las Vegas, LLC 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, which expires in July 2021. 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 expenses of $11.9 million, $11.5 million and $9.3 million for contributions to the Plan for the years ended December 31, 2018, 2017 and 2016, respectively. For the 2017 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 2017 plan year. Risks of participating in a multi-employer plan differ 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; (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; and (4) if the plan is terminated by withdrawal of all employers and if the value of the nonforfeitable benefits exceeds plan assets and withdrawal liability payments, employers are required by law to make up the insufficient difference.

Revenue

12 Months Ended

Dec. 31, 2018

Revenue Recognition [Abstract]

Revenue

The Company’s revenue from contracts with customers primarily consists of casino wagers and sales of rooms, food and beverage, entertainment, retail and other goods and services.

Gross casino revenues are measured by the aggregate net difference between gaming wins and losses. The Company applies a practical expedient by accounting for its casino wagering transactions on a portfolio basis versus an individual basis as all wagers have similar characteristics. Commissions rebated to customers either directly or indirectly through games promoters and cash discounts and other cash incentives earned by customers are recorded as a reduction of casino revenues. In addition to the wager, casino transactions typically include performance obligations related to complimentary goods or services provided to incentivize future gaming or in exchange for points earned under the Company’s loyalty programs.

For casino transactions that include complimentary goods or services provided by the Company to incentivize future gaming, the Company allocates the standalone selling price of each good or service to the appropriate revenue type based on the good or service provided. Complimentary goods or services that are provided under the Company’s control and discretion and supplied by third parties are recorded as an operating expense.

The Company offers loyalty programs at both its Macau Operations and its Las Vegas Operations. 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 goods or services provided by the Company. 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. For casino transactions that include points earned under the Company’s loyalty programs, the Company defers a portion of the revenue by recording the estimated standalone selling price of the earned points that are expected to be redeemed as a liability.

Upon redemption of the points for Company-owned goods or services, the standalone selling price of each good or service is allocated to the appropriate revenue type based on the good or service provided. Upon the redemption of the points with third parties, the redemption amount is deducted from the liability and paid directly to the third party.

After allocating amounts to the complimentary goods or services provided and to the points earned under the Company’s loyalty programs, the residual amount is recorded as casino revenue when the wager is settled.

The transaction price for rooms, food and beverage, entertainment, retail and other transactions is the net amount collected from the customer for such goods and services and is recorded as revenue when the goods are provided, services are performed or events are held. Sales tax and other applicable taxes collected by the Company are excluded from revenues. Advance deposits on rooms and advance ticket sales are performance obligations that are recorded as customer deposits until services are provided to the customer. Revenues from contracts with multiple goods or services are allocated to each good or service based on its relative standalone selling price. Entertainment, retail and other revenue also includes lease revenue, which is recognized on a time proportion basis over the lease term. Contingent lease revenue is recognized when the right to receive such revenue is established according to the lease agreements.

Disaggregation of Revenues

The Company operates integrated resorts in Macau and Las Vegas and generates revenues at its properties by providing the following types of services and products: gaming, rooms, food and beverage and entertainment, retail and other. Revenues disaggregated by type of revenue and geographic location are as follows (in thousands):



Year Ended December 31, 2018	Macau Operations		Las Vegas Operations		Total
Casino	$	4,350,907	$	434,083	$	4,784,990
Rooms	283,562		468,238		751,800
Food and beverage	187,006		567,122		754,128
Entertainment, retail and other (1)	230,616		196,126		426,742
Total operating revenues	$	5,052,091	$	1,665,569	$	6,717,660

Year Ended December 31, 2017
Casino	$	3,788,210	$	456,093	$	4,244,303
Rooms	217,581		453,376		670,957
Food and beverage	164,189		567,926		732,115
Entertainment, retail and other (1)	197,217		225,568		422,785
Total operating revenues	$	4,367,197	$	1,702,963	$	6,070,160

Year Ended December 31, 2016
Casino	$	2,313,518	$	437,372	$	2,750,890
Rooms	158,126		437,484		595,610
Food and beverage	99,703		535,708		635,411
Entertainment, retail and other (1)	134,948		228,938		363,886
Total operating revenues	$	2,706,295	$	1,639,502	$	4,345,797

(1) Includes lease revenue accounted for under lease accounting guidance.

Customer Contract Liabilities

In providing goods and services to its customers, there is often a timing difference between the Company receiving cash and the Company recording revenue for providing services or holding events.

The Company’s primary liabilities associated with customer contracts are as follows (in thousands):



	December 31, 2018		December 31, 2017		Increase (decrease)			December 31, 2017		December 31, 2016		Increase (decrease)
Casino outstanding chips and front money deposits (1)	$	905,561	$	991,957	$	(86,396	)	$	991,957	$	546,487	$	445,470
Advance room deposits and ticket sales (2)	42,197		48,065		(5,868		)	48,065		41,583		6,482
Other gaming-related liabilities (3)	12,694		12,765		(71		)	12,765		12,033		732
Loyalty program and related liabilities (4)	18,148		18,421		(273		)	18,421		7,942		10,479
	$	978,600	$	1,071,208	$	(92,608	)	$	1,071,208	$	608,045	$	463,163

(1) Casino outstanding chips represent amounts owed to junkets and customers for chips in their possession, and casino front money deposits represent funds deposited by customers before gaming play occurs. These amounts are included in customer deposits on the Consolidated Balance Sheets and may be recognized as revenue or will be redeemed for cash in the future.

(2) Advance room deposits and ticket sales represent cash received in advance for goods or services to be provided in the future. These amounts are included in customer deposits on the Consolidated Balance Sheets and will be recognized as revenue when the goods or services are provided or the events are held. Decreases in this balance generally represent the recognition of revenue and increases in the balance represent additional deposits made by customers. The deposits are expected to primarily be recognized as revenue within one year.

(3) Other gaming-related liabilities generally represent unpaid wagers primarily in the form of unredeemed slot, race and sportsbook tickets or wagers for future sporting events. The amounts are included in other accrued liabilities on the Consolidated Balance Sheets.

(4) Loyalty program and related liabilities represent the deferral of revenue until the loyalty points or other complimentaries are redeemed. The amounts are included in other accrued liabilities on the Consolidated Balance Sheets and are expected to be recognized as revenue within one year of being earned by customers.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2018

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' 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, 2018, the Company had an aggregate of 3,041,051 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 Omnibus Plan for the year ended December 31, 2018 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2018	644,460		$	73.93
Granted	—		$	—
Exercised	(261,470	)	$	77.07
Forfeited or expired	(37,200	)	$	172.07
Outstanding as of December 31, 2018	345,790		$	60.99	1.25	$	14,796,122
Fully vested and expected to vest as of December 31, 2018	345,790		$	60.99	1.25	$	14,796,122
Exercisable as of December 31, 2018	285,790		$	63.91	1.44	$	11,688,722

The following is provided for stock options under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	—	$	—	$	34.90
Intrinsic value of stock options exercised	$	22,387	$	29,716	$	3,657
Cash received from the exercise of stock options	$	20,148	$	61,506	$	3,487

As of December 31, 2018, there was $0.6 million of unamortized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 0.34 years.

Nonvested shares

The summary of nonvested share activity under the Omnibus Plan for the year ended December 31, 2018 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2018	460,584		$	98.21
Granted	288,270		170.13
Vested	(96,559	)	121.51
Forfeited	(125,908	)	133.76
Nonvested as of December 31, 2018	526,387		$	127.84

The following is provided for the share awards under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	170.13	$	109.28	$	63.56
Fair value of shares vested	$	13,024	$	45,801	$	39,380

As of December 31, 2018, there was $49.6 million of unamortized compensation expense related to nonvested shares, which is expected to be recognized over a weighted average period of 3.66 years.

Wynn Macau, Limited

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

Share Option Plan

WML adopted a stock incentive plan, effective September 16, 2009, for the grant of stock options to purchase shares of WML to eligible directors and employees of its subsidiaries (the "Share Option Plan"). The Share Option Plan is administered by WML's Board of Directors, which has 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. As of December 31, 2018, there were 507,244,000 shares available for issuance under the Share Option Plan.

The summary of stock option activity under the Share Option Plan for the year ended December 31, 2018 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2018	7,006,000		$	2.32
Granted	4,494,000		$	2.65
Exercised	(941,600	)	$	1.94
Outstanding as of December 31, 2018	10,558,400		$	2.49	7.80	$	1,403,732
Fully vested and expected to vest as of December 31, 2018	10,558,400		$	2.49	7.80	$	1,403,732
Exercisable as of December 31, 2018	3,302,800		$	2.72	5.20	$	484,717

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



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	0.57	$	0.56	$	0.31
Intrinsic value of stock options exercised	$	1,715	$	369	$	—
Cash received from the exercise of stock options	$	1,823	$	703	$	—

As of December 31, 2018, there was $3.4 million of unamortized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 4.30 years.

Share Award Plan

On June 30, 2014, the Company's majority-owned subsidiary, WML, approved and adopted the WML Employee Ownership Scheme (the "Share Award Plan"). The Share Award Plan allows for the grant of nonvested shares of WML's common stock to eligible employees. The Share Award Plan is administered by WML's Board of Directors and has been mandated under the plan to allot, issue and process the transfer of a maximum of 50,000,000 shares. The Board of Directors has discretion on the vesting and service requirements, exercise price and other conditions, subject to certain limits. As of December 31, 2018, there were 33,362,988 shares available for issuance under the Share Award Plan.

The summary of nonvested share activity under the Share Award Plan for the year ended December 31, 2018 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2018	11,842,707		$	2.24
Granted	3,256,630		$	3.07
Vested	(3,565,245	)	$	3.56
Forfeited	(1,780,825	)	$	2.03
Nonvested as of December 31, 2018	9,753,267		$	2.07

The weighted average grant date fair value for shares granted during the year and the total fair value of shares vested under the Share Award Plan is presented below (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	3.07	$	2.22	$	1.38
Fair value of shares vested	$	1,309	$	6,884	$	—

As of December 31, 2018, there was $12.7 million of unamortized compensation expense, which is expected to be recognized over a weighted average period of 2.82 years.

Compensation Cost

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



	Years Ended December 31,
	2018			2017		2016
Casino	$	5,946		$	6,954	$	11,304
Rooms	437			655		374
Food and beverage	1,125			1,466		1,060
Entertainment, retail and other	111			147		82
General and administrative	28,872			34,749		30,398
Pre-opening	750			—		504
Property charges and other (1)	(2,201		)	—		—
Total stock-based compensation expense	35,040			43,971		43,722
Total stock-based compensation capitalized	11			80		92
Total stock-based compensation costs	$	35,051		$	44,051	$	43,814

(1) In 2018, reflects the reversal of compensation cost previously recognized for awards forfeited in connection with the departure of an employee.

For the year ended December 31, 2018, the Company recorded an expense of approximately $5.8 million in connection with the departure of the Company's general counsel and the related accelerated vesting of previously granted share-based awards and a $1.8 million one-time cash payment.

Certain members of the Company's executive management team receive a portion of their annual incentive bonus in shares of the Company's stock. The number of shares is determined based on the closing stock price on the date the annual incentive bonus is settled. As the number of shares is variable, the Company records a liability for the fixed monetary amount over the service period. The Company recorded stock-based compensation expense associated with these awards of $6.7 million, $23.7 million and $19.2 million, for the year ended December 31, 2018, 2017 and 2016, respectively. The Company settled the obligation for the 2018 annual incentive bonus by issuing vested shares in January 2019. The Company settled the obligation for the 2017 annual incentive bonus by issuing vested shares in December 2017 and January 2018.

During the years ended December 31, 2018, 2017 and 2016, the Company recognized income tax benefits in the Consolidated Statements of Income of $5.7 million, $10.8 million and $10.4 million, respectively, related to stock-based compensation expense. Additionally, during the years ended December 31, 2018, 2017 and 2016, the Company realized tax benefits of $4.6 million, $25.4 million and $6.7 million, respectively, related to stock option exercises and restricted stock vesting that occurred in those years.

The Company uses the Black-Scholes option pricing model to determine the estimated fair value for stock options. 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 Omnibus Plan 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 uses historical award exercise activity and termination activity in estimating the expected term for the Omnibus Plan and Share Option Plan.

There were no stock options granted under the Omnibus Plan during the years ended December 31, 2018 and 2017. The fair value of stock options granted under the Omnibus Plan during the year ended December 31, 2016 was estimated on the date of grant using an expected dividend yield of 2.0%, expected volatility of 45.4%, a risk-free interest rate of 1.1% and an expected term of 6.0 years.

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



	Years Ended December 31,
	2018		2017		2016
Expected dividend yield	5.7	%	5.7	%	6.3	%
Expected volatility	40.2	%	41.5	%	42.6	%
Risk-free interest rate	2.3	%	1.1	%	1.0	%
Expected term (years)	6.5		6.5		6.5

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

Consolidated income (loss) before taxes for United States ("U.S.") and foreign operations consisted of the following (in thousands):



	Years Ended December 31,
	2018			2017		2016
United States	$	(491,523	)	$	90,206	$	90,900
Foreign	797,263			470,063		219,697
Total	$	305,740		$	560,269	$	310,597

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



	December 31,
	2018			2017			2016
Current
U.S. Federal	$	(637	)	$	(19,856	)	$	60
U.S. State	198			51			79
Foreign	1,749			1,674			1,633
Total	1,310			(18,131		)	1,772
Deferred
U.S. Federal	(483,681		)	(309,423		)	5,081
U.S. State	(14,973		)	(1,431		)	1,275
Total	(498,654		)	(310,854		)	6,356
Total income tax benefit	$	(497,344	)	$	(328,985	)	$	8,128

The reconciliation of the U.S. federal statutory tax rate to the actual tax rate is as follows:



	December 31,
	2018		2017		2016
U.S. Federal statutory rate	21.0	%	35.0	%	35.0	%
Foreign tax credits, net of valuation allowance	(154.9	)%	(136.1	)%	(61.5	)%
Non-taxable foreign income	(48.8	)%	(20.1	)%	(20.7	)%
Foreign tax rate differential	(20.8	)%	(17.0	)%	(14.5	)%
Global intangible low-taxed income	28.3	%	—	%	—	%
Change in tax rate	—	%	(11.8	)%	—	%
Repatriation of foreign earnings	—	%	81.0	%	51.6	%
Valuation allowance, other	9.3	%	5.9	%	7.5	%
Other, net	3.2	%	4.4	%	5.2	%
Effective income tax rate	(162.7	)%	(58.7	)%	2.6	%

Wynn Macau SA received a five-year exemption from Macau's 12% Complementary Tax on casino gaming profits through December 31, 2020. Accordingly, for the years ended December 31, 2018, 2017 and 2016, the Company was exempt from the payment of such taxes totaling $96.8 million, $63.0 million and $27.3 million or $0.90, $0.61 and $0.27 per diluted 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.

Wynn Macau SA also entered into an agreement with the Macau government that provides for an annual payment of MOP 12.8 million (approximately $1.6 million) as complementary tax otherwise due by stockholders of Wynn Macau SA on dividend distributions through 2020. As a result of the stockholder dividend tax agreements, income tax expense includes $1.6 million for each of the years ended December 31, 2018, 2017 and 2016.

The Macau special gaming tax is 35% of gross gaming revenue. U.S. tax laws only allow a foreign tax credit ("FTC") up to 21% of 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. FTC.

In December 2017, the U.S. Tax Cuts and Jobs Act ("U.S. tax reform") was enacted. Also in December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, which allowed the Company to record provisional amounts during a measurement period not to extend beyond one year from the enactment date. For the year ended December 31, 2017, the Company recorded a provisional net tax benefit of $339.9 million based on the Company's initial analysis of the U.S. tax reform. During the fourth quarter of 2018, the Company finalized its analysis of U.S. tax reform, which was further clarified by guidance issued by the Internal Revenue Service in the fourth quarter of 2018. The guidance addressed the treatment of foreign-sourced royalties and the allocation of interest expense and other expenses to foreign source income. As a result, the Company adjusted its valuation allowance for FTC carryovers and recorded a net tax benefit of $390.9 million, which is incremental to the $339.9 million provisional net tax benefit recorded in 2017.

During the years ended December 31, 2018, 2017 and 2016, the Company recognized tax benefits of $82.8 million, $746.6 million and $170.5 million, respectively (net of valuation allowance and uncertain tax positions), for FTCs generated from the earnings of Wynn Macau SA.

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 the years ended December 31, 2018 and 2017, the aggregate valuation allowance for deferred tax assets decreased by $746.6 million and increased by $103.7 million, respectively. The 2018 decrease is primarily related to the expiration of FTCs. The 2017 increase is primarily related to FTC 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 $2.0 million, $2.6 million and $0.8 million for the years ended December 31, 2018, 2017 and 2016, respectively, in excess of the amounts reported for such items as compensation costs under accounting standards related to stock-based compensation.

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



	December 31,
	2018			2017
Deferred tax assets—U.S.:
Foreign tax credit carryforwards	$	3,187,797		$	3,616,872
Disallowed interest expense carryforward	67,368			—
Construction in progress	42,528			5,009
Receivables, inventories, accrued liabilities and other	10,878			19,356
Stock-based compensation	5,477			5,084
Other tax credit carryforwards	4,946			1,999
Intangibles and related other	489			3,486
Other	2,279			86
	3,321,762			3,651,892
Less: valuation allowance	(2,500,027		)	(3,273,292		)
	821,735			378,600
Deferred tax liabilities—U.S.:
Property and equipment	(70,560		)	(111,988		)
Redemption Note fair value	—			(13,139		)
Prepaid insurance, maintenance and taxes	(12,430		)	(10,391		)
Other	(2,293		)	(2,549		)
	(85,283		)	(138,067		)
Deferred tax assets—Foreign:
Net operating loss carryforwards	94,244			74,345
Property and equipment	41,520			36,299
Pre-opening expenses	8,421			10,717
Other	651			1,493
	144,836			122,854
Less: valuation allowance	(143,872		)	(117,175		)
	964			5,679
Deferred tax liabilities—Foreign:
Property and equipment	(964		)	(5,679		)

Net deferred tax asset	$	736,452		$	240,533

FTC carryforwards of $545.7 million expired as of December 31, 2018. As of December 31, 2018, the Company had FTC carryforwards (net of uncertain tax positions) of $3.19 billion. Of this amount, $110.9 million will expire in 2019, $530.4 million in 2020, $540.3 million in 2021, $756.0 million in 2023, $710.7 million in 2024, $47.2 million in 2025 and $492.4 million in 2027. The Company has a disallowed interest carryforward of $294.2 million which does not expire. The Company has no U.S. tax loss carryforwards. The Company incurred foreign tax losses of $340.0 million, $319.1 million and $317.3 million during the tax years ended December 31, 2018, 2017 and 2016, respectively. These foreign tax loss carryforwards expire in 2021, 2020 and 2019, respectively.

In assessing the need for a valuation allowance, the Company considered whether it is more likely than not that the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. In the assessment of the valuation allowance, appropriate consideration was given to all positive and negative evidence including recent operating profitability, forecast of future earnings and the duration of statutory carryforward periods.

As of December 31, 2018 and 2017, the Company had valuation allowances of $2.49 billion and $3.27 billion, respectively, provided on FTCs expected to expire unutilized and valuation allowances of $5.3 million and $3.5 million provided on other U.S. deferred tax assets. As of December 31, 2018 and 2017, the Company had valuation allowances of $143.9 million and $117.2 million, respectively, provided on its foreign deferred tax assets.

The Company had the following activity for unrecognized tax benefits as follows (in thousands):



	December 31,
	2018			2017			2016
Balance at beginning of period	$	95,236		$	90,523		$	88,314
Increases based on tax positions of the current year	8,926			8,520			5,930
Reductions due to lapse in statutes of limitations	(4,692		)	(3,807		)	(3,721		)
Balance at end of period	$	99,470		$	95,236		$	90,523

As of December 31, 2018, 2017 and 2016, unrecognized tax benefits of $99.5 million, $95.2 million and $90.3 million, respectively, were recorded as reductions in deferred income taxes, net. As of December 31, 2016, $0.2 million of unrecognized tax benefits were recorded in other long-term liabilities. The Company had no unrecognized tax benefits recorded in other long-term liabilities as of December 31, 2018 and 2017.

As of December 31, 2018, 2017 and 2016, $31.0 million, $26.9 million and $22.6 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 year ended December 31, 2018, the Company recognized no interest and penalties. During each of the years ended December 31, 2017 and 2016, the Company recognized $0.9 million in interest in the provision for income taxes.

The Company anticipates that the 2014 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, which govern the timing and deductibility of income tax deductions. As a result, the Company's unrecognized tax benefits could increase up to $5.1 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 2014 domestic income tax returns remain subject to examination by the IRS to the extent tax attributes carryforward to future years. The Company's 2015 to 2017 domestic income tax returns also remain subject to examination by the IRS. The Company's 2014 to 2017 Macau income tax returns remain subject to examination by the Financial Services Bureau.

The Company has participated in the IRS Compliance Assurance Program ("CAP") for the 2012 through 2018 tax years and will continue to participate in the IRS CAP for the 2019 tax year.

In February 2017 and 2018, the Company received notification that the IRS completed its examination of the Company's 2015 and 2016 U.S. income tax returns, respectively. There were no changes in its unrecognized tax benefits as a result of the completion of these examinations.

On December 31, 2016, the statute of limitations for the 2011 Macau Complementary tax return expired. As a result of the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $3.7 million.

In April 2016, the Financial Services Bureau commenced an examination of the 2011 and 2012 Macau income tax returns of Palo. In June 2016, the Financial Services Bureau concluded its examination with no changes.

On December 31, 2017, the statute of limitations for the 2012 Macau Complementary tax return expired. As a result of the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $3.8 million.

On December 31, 2018, the statute of limitations for the 2013 Macau Complementary tax return expired. As a result of the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $4.7 million.

In March 2017, the Financial Services Bureau commenced an examination of the 2013 and 2014 Macau income tax returns of Wynn Macau SA. In July 2018, the Financial Services Bureau issued final tax assessments for the Company for the years 2013 and 2014. While no additional tax was due, adjustments were made to the Company’s tax loss carryforwards

In July 2017, the Financial Services Bureau commenced an examination of the 2013 and 2014 Macau income tax returns of Palo. In February 2018, the Financial Services Bureau concluded its examination with no changes.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with Stephen A. Wynn On February 6, 2018, Stephen A. Wynn ("Mr. Wynn"), resigned as Chairman of the Board of Directors and Chief Executive Officer of Wynn Resorts and on February 15, 2018, Mr. Wynn entered into a separation agreement with the Company specifying the terms of his termination of service with the Company (the "Separation Agreement"). The Separation Agreement terminated Mr. Wynn’s employment agreement with the Company and confirmed that Mr. Wynn is not entitled to any severance payment or other compensation from the Company under his employment agreement. Under the Separation Agreement, Mr. Wynn agreed not to compete against the Company for a period of two years and to provide reasonable cooperation and assistance to the Company in connection with any private litigation or arbitration and to the Board of Directors of the Company or any committee of the Board of Directors in connection with any investigation by the Company related to his service with the Company. The Separation Agreement provided that (i) Mr. Wynn’s lease of his personal residence at Wynn Las Vegas would terminate not later than June 1, 2018 and until such date Mr. Wynn would continue to pay rent at its fair market value, unless Mr. Wynn elected to terminate the lease before such date, (ii) Mr. Wynn’s current healthcare coverage would terminate on December 31, 2018, and (iii) administrative support for Mr. Wynn would terminate on May 31, 2018. Additionally, in order to conduct sales of Company shares in an orderly fashion, the Company agreed to enter into a registration rights agreement with Mr. Wynn, with Mr. Wynn to reimburse the Company for its reasonable expenses. As a result of Mr. Wynn’s resignation and the Separation Agreement, an aircraft purchase option that gave Mr. Wynn the right to purchase any or all of the aircraft owned by the Company or its direct wholly owned subsidiaries terminated on February 6, 2018. Further, 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. Pursuant to the Separation Agreement, if the Company ceases to use the "Wynn" surname and trademark, the Company will assign all of its right, title, and interest in the "Wynn" trademark to Mr. Wynn and terminate the Surname Rights Agreement. The lease of Mr. Wynn’s residence was terminated by agreement of the parties on April 10, 2018. On March 20, 2018, the Company entered into a registration rights agreement with Mr. Wynn, the Wynn Family Limited Partnership, a Delaware limited partnership (together with Mr. Wynn, the "Selling Stockholder") and each holder from time to time a party thereto (the "Registration Rights Agreement"), pursuant to the Separation Agreement. The Selling Stockholder subsequently sold all of its holdings of the Company's common stock through open market transactions pursuant to Rule 144 under the Securities Act of 1933, as amended, and certain privately negotiated transactions. Pursuant to the Registration Rights Agreement, without the Company's prior written consent, the Selling Stockholder was not permitted to sell more than an aggregate of 4,043,903 shares of Common Stock in any quarter. The Company provided written consent permitting the Selling Stockholder to undertake the registered sales. Home Purchase In May 2010, the Company entered into an employment agreement with Linda Chen ("Ms. Chen"), who is the President and Chief Operating Officer of Wynn Macau SA. 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 $10.0 million through December 31, 2018. 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" or (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 her gaming license), the option will terminate. Cooperation Agreement On August 3, 2018, the Company entered into a Cooperation Agreement (the "Cooperation Agreement") with Elaine P. Wynn regarding the composition of the Company’s Board of Directors and certain other matters, including, among other things, the appointment of Mr. Philip G. Satre to the Company's Board of Directors, standstill restrictions, releases, non-disparagement, reimbursement of expenses and the grant of certain complimentary privileges. The term of the Cooperation Agreement expires on the day after the conclusion of the 2020 annual meeting of the Company’s stockholders, unless earlier terminated pursuant to the circumstances described in the Cooperation Agreement. Amounts Due to Officers, Directors and Former Directors The Company periodically provides services to certain executive officers, directors or former directors of the Company, including the personal use of employees, construction work and other personal services, for which the officers, directors or former directors reimburse the Company. The Company requires prepayment for any such services, which amounts are replenished on an ongoing basis as needed. As of December 31, 2018, these net deposit balances with the Company were immaterial, as were the services provided. As of December 31, 2017, the officers and directors had a net deposit balance with the Company of $0.4 million.

Retail Joint Venture Retail Joint Venture	12 Months Ended
Retail Joint Venture Retail Joint Venture	Dec. 31, 2018
Variable Interest Entities [Abstract]
Variable Interest Entity Disclosure	Retail Joint Venture In December 2016, the Company entered into the Retail Joint Venture with Crown to own and operate approximately 88,000 square feet of existing retail space at Wynn Las Vegas. In connection with the transaction, the Company transferred certain assets and liabilities with a net book value of $31.8 million associated with the existing Wynn Las Vegas retail stores from Wynn Las Vegas, LLC, to the Retail Joint Venture. The Company sold Crown a 49.9% ownership interest in the Retail Joint Venture for consideration of $292.0 million, which consisted of $217.0 million in cash and a $75.0 million interest-free note that matured in full on January 3, 2018. As of December 31, 2017 and 2016, the present value of the note was $75.0 million included in prepaid expenses and other and $72.5 million included in other assets, respectively, on the Consolidated Balance Sheets. Wynn Las Vegas, LLC transferred all interests as lessor in third-party retail store leases to the Retail Joint Venture as part of the transaction and the majority of the retail stores previously operated by Wynn Las Vegas, LLC are now operated under a master lease agreement between a newly formed retail entity owned by Wynn Resorts, as lessee, and the Retail Joint Venture, as lessor. The Company maintains a 50.1% ownership in the Retail Joint Venture and is the managing member. In November 2017, the Company contributed approximately 74,000 square feet of additional retail space to the Retail Joint Venture. The Company opened the additional retail space during the fourth quarter of 2018. In connection with this transaction, the Company contributed certain assets with a net book value of $25.4 million, consisting primarily of construction in progress for the additional retail space, to the Retail Joint Venture, and received cash of $180.0 million from Crown. After this additional transaction, the Company maintains a 50.1% ownership in the Retail Joint Venture and remains the managing member. The Company's responsibilities with respect to the Retail Joint Venture include day-to-day business operations, property management services and a role in the leasing decisions of the retail space. The Company assessed its ownership in the Retail Joint Venture based on consolidation accounting guidance with an evaluation being performed to determine if the Retail Joint Venture is a VIE, if the Company has a variable interest in the Retail Joint Venture and if the Company is the primary beneficiary of the Retail Joint Venture. The primary beneficiary is the party who has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. The Company concluded that the Retail Joint Venture is a VIE and the Company is the primary beneficiary based on its involvement in the leasing activities of the Retail Joint Venture. As a result, the Company consolidates all of the Retail Joint Venture's assets, liabilities and results of operations. The Company will evaluate its primary beneficiary designation on an ongoing basis and will assess the appropriateness of the Retail Joint Venture's VIE status when changes occur. As of December 31, 2018 and 2017, the Retail Joint Venture had total assets of $85.0 million and $59.7 million, respectively, and total liabilities of $619.6 million and $0.9 million, respectively. The Retail Joint Venture's total liabilities as of December 31, 2018 included long-term debt of $611.1 million, net of debt issuance costs, related to the outstanding borrowings under the Retail Term Loan.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Encore Boston Harbor Development

On April 28, 2017, Wynn MA, LLC ("Wynn MA"), an indirect wholly owned subsidiary of the Company, entered into an agreement concerning the construction of Encore Boston Harbor, which, among other things, confirmed the guaranteed maximum price for the construction work undertaken by the general contractor. The general contractor is obligated to substantially complete the project by June 24, 2019 for a guaranteed maximum price of $1.32 billion. Both the contract time and guaranteed maximum price are subject to further adjustment under certain conditions. The performance of the general contractor is backed by a payment and performance bond in the amount of $350.0 million.

Wynn Las Vegas Meeting and Convention Expansion

Wynn Golf, LLC, a direct wholly owned subsidiary of the Company, entered into an agreement concerning the construction of approximately 430,000 square feet of additional meeting and convention space at Wynn Las Vegas, which, among other things, confirmed the guaranteed maximum price for the construction work undertaken by the general contractor. The general contractor is obligated to substantially complete the project by December 19, 2019 for a guaranteed maximum price of $286.8 million. Both the contract time and guaranteed maximum price are subject to further adjustment under certain conditions.

Leases

Lessor Arrangements

The Company is the lessor under leases for retail space at its resorts. The lease agreements include minimum base rents with contingent rental clauses primarily based on percentage of net sales exceeding minimum base rents.

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



Years Ending December 31,
2019	$	132,249
2020	130,731
2021	69,272
2022	48,024
2023	29,784
Thereafter	79,868
Total future minimum rentals	$	489,928

The total future minimum rentals do not include contingent rentals. Contingent rentals were $53.8 million, $38.6 million and $34.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Lessee Arrangements

The Company is the lessee under leases for office space, warehouse facilities, certain office equipment and various parcels of land, including the land that Wynn Macau and Wynn Palace are built on. As of December 31, 2018, capital leases reflected in property and equipment, net on the Consolidated Balance Sheet were $16.5 million. The future minimum lease payments for capital leases are discounted to their present value in the table below and are included in other long-term liabilities on the Consolidated Balance Sheet.

As of December 31, 2018, the Company was obligated under non-cancelable leases to make future minimum lease payments as follows (in thousands):



Years Ending December 31,	Operating Leases		Capital Leases
2019	$	29,126	$	989
2020	20,153		989
2021	17,226		989
2022	16,466		989
2023	15,868		989
Thereafter	464,838		66,743
Total minimum lease payments	563,677		71,688
Less: Amount representing interest	—		(55,140		)
	$	563,677	$	16,548

Rent expense for the years ended December 31, 2018, 2017 and 2016 was $27.1 million, $18.3 million and $17.9 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). As of December 31, 2018, the Company was obligated to make future payments of $72.9 million, $49.0 million, $19.1 million, $2.9 million and $0.5 million during the years ending December 31, 2019, 2020, 2021, 2022 and 2023, respectively.

Other Commitments

The Company has additional commitments for gaming tax payments in Macau and performance and other miscellaneous contracts. As of December 31, 2018, the Company was obligated under these arrangements, to make future minimum payments as follows (in thousands):



Years Ending December 31,
2019	$	168,646
2020	80,548
2021	56,393
2022	27,088
2023	4,980
Thereafter	—
Total minimum payments	$	337,655

The above table does not include community payments associated with the continuing operations of Encore Boston Harbor, which commence upon the opening of the resort. These amounts are approximately $10.6 million per year with minimal annual increases.

Letters of Credit

As of December 31, 2018, the Company had outstanding letters of credit of $17.7 million.

Litigation

In addition to the actions noted below, the Company and its 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 and 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. Based on the findings in the Freeh Report, the Board of Directors of Wynn Resorts determined that the Okada Parties were "unsuitable persons" under Article VII of the Company's articles of incorporation. On that same day, Wynn Resorts redeemed and canceled Aruze's 24,549,222 shares of Wynn Resorts' common stock, and, pursuant to its articles of incorporation, Wynn Resorts issued the Redemption Note to Aruze in redemption of the shares.

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, alleging breaches of fiduciary duty and related claims (the "Redemption Action") arising from the activities addressed in the Freeh Report. The Company sought 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 filed an answer denying the claims and a counterclaim purporting to assert claims against the Company, certain individuals who were members of the Company's Board of Directors (other than Mr. Okada) and Wynn Resorts' former General Counsel, Kimmarie Sinatra ("Ms. Sinatra"), related to the redemption, the determination of fair value of the redeemed shares and rescission of the Amended and Restated Stockholders Agreement, dated as of January 6, 2010, by and among Aruze, Mr. Wynn, and Elaine P. Wynn (the "Stockholders Agreement").

On March 8, 2018, the Company entered into the Settlement Agreement by and between the Company, Mr. Wynn, Linda Chen, Russell Goldsmith, Ray R. Irani, Robert J. Miller, John A. Moran, Marc D. Schorr, Alvin V. Shoemaker, D. Boone Wayson, Allan Zeman, and Ms. Sinatra (collectively, the "Wynn Parties"), and Universal Entertainment Corp. and Aruze (collectively with Universal Entertainment Corp., the "Universal Parties"). The Settlement Agreement resolved legal proceedings pending between the settling parties in the Redemption Action as well as other claims. Pursuant to the Settlement Agreement, the Company paid the principal amount of the $1.94 billion Redemption Note on March 30, 2018. On March 30, 2018, the Company also paid an additional $463.6 million with respect to the Universal Parties’ claims related to the allegedly below-market interest rate of the Redemption Note and stipulated to the release to Aruze of $232.4 million in accrued interest held in escrow. The Company recorded the $463.6 million as a litigation settlement expense on the Consolidated Statements of Income. Under the Settlement Agreement, the Wynn Parties and the Universal Parties mutually agreed to unconditionally release all claims against each other relating to or arising out of the Redemption Action, as well as any claims which relate to or arise out of any other litigation or claims in any other jurisdiction. As a result, the Universal Parties will not claim that Aruze remains a party to the Stockholders Agreement. The Universal Parties further released any claims against the Wynn Parties and their affiliates in any other jurisdiction, including but not limited to the proceeding pending in Macau against Wynn Resorts (Macau) S.A. and certain related individuals ("Macau Litigation"). As a result of the Settlement Agreement, the parties to the agreement dismissed all litigation between the Universal Parties and the Company and its then-directors and executives with respect to the redemption, including the Redemption Action and the Macau Litigation, but the Settlement Agreement did not release claims against any parties to such litigation who are not parties to the Settlement Agreement, including but not limited to Kazuo Okada and Elaine P. Wynn.

On March 12, 2018, the Company voluntarily dismissed its claim for breach of fiduciary duty against Kazuo Okada, which was the last and only remaining claim between Wynn Resorts, Kazuo Okada, and the Universal Parties in the Redemption Action.

On June 19, 2012, Elaine P. Wynn asserted in the Redemption Action a cross claim against Mr. Wynn and a counterclaim against Aruze seeking a declaration that, among other things, the Stockholders Agreement should be rescinded given the redemption of Aruze’s shares. On March 28, 2016, Elaine P Wynn filed an amended cross claim against Mr. Wynn, as well as Wynn Resorts and Wynn Resorts' former General Counsel (together with Mr. Wynn, the "Wynn Cross Defendants") as cross defendants, which repeated her earlier allegations and further alleged that Mr. Wynn engaged in acts of misconduct that, with the Wynn Cross Defendants, resulted in Mr. Wynn allegedly breaching the Stockholders Agreement and violating alleged duties under the Stockholders Agreement by preventing Elaine P. Wynn from being nominated and elected to serve as one of Wynn Resorts' directors.

On March 14, 2018, Mr. Wynn and Elaine P. Wynn entered into a stipulation declaring the Stockholders Agreement invalid and unenforceable, and on April 16, 2018, the Company entered into a Settlement Agreement and Mutual Release by and between the Company, Mr. Wynn, Elaine P. Wynn, and the Company’s former General Counsel, which, among other things, resolved and unconditionally released the parties from all claims and cross claims asserted among the parties in a legal proceeding involving the Stockholders Agreement. Neither the Company nor the Company’s former General Counsel made any payment under the terms of such settlement agreement.

Litigation Commenced by Kazuo Okada

On July 3, 2015, WML announced that the Okada Parties filed a complaint in the Court of First Instance of Macau ("Macau Court") against Wynn Macau SA and certain individuals who are or were directors of Wynn Macau SA and or WML (collectively, the "Wynn Macau Parties"). The principal allegations in the lawsuit are that the redemption of the Okada Parties' shares in Wynn Resorts was improper and undervalued, that the previously disclosed payment by Wynn Macau SA to an unrelated third party in consideration of relinquishment by that party of certain rights in and to any future development on the land in Cotai where Wynn Palace is located was unlawful and that the previously disclosed donation by Wynn Resorts to the University of Macau Development Foundation was unlawful. The plaintiffs sought dissolution of Wynn Macau SA and compensatory damages. On July 11, 2017, the Macau Court dismissed all claims by the Okada Parties as unfounded, fined the Okada Parties, and ordered the Okada Parties to pay for court costs and the Wynn Macau Parties' attorney's fees. On or about October 16, 2017, the Okada Parties filed formal appeal papers in Macau, which Wynn Macau SA received on November 21, 2017. Wynn Macau SA filed its response on December 21, 2017. In March 2018, pursuant to the Settlement Agreement, the Universal Parties voluntarily withdrew from the Macau Litigation, leaving Mr. Okada as the sole claimant. On February 21, 2019, the Macau Appellate Panel rejected Mr. Okada's appeal.

Derivative Litigation Related to Redemption Action

Two state derivative actions were commenced against the Company and all members of its Board of Directors in the Eighth Judicial District Court of Clark County, Nevada. These state court actions brought by the following plaintiffs have been consolidated: (1) IBEW Local 98 Pension Fund and (2) Danny Hinson (collectively, the "Derivative Plaintiffs"). The Derivative 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 Derivative 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 Derivative 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 attorney's fees and costs. On June 18, 2014, the court entered a stipulation between the parties that provides for a stay of the action and directs the parties, within 45 days of the conclusion of the Redemption Action, to discuss how the derivative action should proceed and to file a joint report with the court. In May 2018, the parties (except Elaine P. Wynn) filed a joint report given the conclusion of the Redemption Action. On May 14, 2018, the court extended the stay of the case due to plaintiff Danny Hinson’s claim that he intended to send a demand letter to the Company. On May 30, 2018, plaintiff Danny Hinson sent a demand letter to the Company requesting the Board to investigate the University of Macau Development Foundation donation, the removal of Mr. Okada from the Board and the terms of the Redemption Note. On January 3, 2019, the Company responded to Mr. Hinson, explaining that after investigating the allegations contained in his demand letter, which were previously investigated in response to a prior separate demand the Company received in December 2014, the Board determined that pursuing any such litigation would not be in the best interests of the Company or its shareholders.

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

Massachusetts Gaming License Related Actions

On September 17, 2014, the Massachusetts Gaming Commission ("MGC") designated Wynn MA the award winner of the Greater Boston (Region A) gaming license. On November 7, 2014, the gaming license became effective.

Suffolk Action:

On September 17, 2018, Sterling Suffolk Racecourse, LLC, owner of the property proposed for location of a casino by an unsuccessful bidder for the Greater Boston (Region) A gaming license filed a complaint in the United States District Court, District of Massachusetts, against Wynn Resorts, Wynn MA, certain current and former officers of Wynn Resorts, FBT Everett Realty, LLC, former owner of the land on which Encore Boston Harbor is located (“FBT”) and Paul Lohnes, a member of FBT. The complaint alleges, among other things, the defendants engaged in conduct in violation of the Racketeer Influenced Corrupt Organizations Act (“RICO”), conspired to circumvent the application process for the Greater Boston (Region A) gaming license and violated Massachusetts law with respect to unfair methods of competition. The plaintiff seeks $1 billion in compensatory damages and treble damages pursuant to applicable law. All defendants filed motions to dismiss the complaint, and several separately filed special motions to dismiss pursuant to the Massachusetts Anti-SLAPP statute. In response to the various dispositive motions, on February 15, 2019, the plaintiff filed an amended complaint that substantially repeats its earlier allegations and adds new allegations in support of its existing claims against the defendants.

The Company will vigorously defend against the claims asserted. This action is in preliminary stages and 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.

Revere Action:

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 ("IBEW") filed a complaint against the MGC and each of the five gaming commissioners in Suffolk Superior Court in Boston, Massachusetts (the "Revere Action"). The complaint challenges the MGC's decision and alleges that the MGC failed to follow statutory requirements outlined in the Gaming Act. The complaint (1) seeks to appeal the administrative decision, (2) asserts that certiorari provides a remedy to correct errors in proceedings by an agency such as the MGC, (3) challenges the constitutionality of that section of the gaming law which bars judicial review of the MGC's decision to deny an applicant a gaming license, and (4) alleges violations of the open meeting law requirements. The court allowed Mohegan Sun ("Mohegan"), the other applicant for the Greater Boston (Region A) gaming license, to intervene in the Revere Action, and on February 23, 2015, Mohegan filed its complaint. The Mohegan complaint challenges the license award to Wynn MA, seeks judicial review of the MGC's decision, and seeks to vacate the MGC's license award to Wynn MA.

On July 1, 2015, the MGC filed motions to dismiss Mohegan's and the City of Revere's complaints. On December 3, 2015, the court granted the motion to dismiss the claims asserted in the Revere Action. Also on December 3, 2015, the court granted the motion to dismiss three of the four counts asserted by Mohegan but denied the motion as to Mohegan's certiorari claim. The City of Revere and IBEW sought immediate appellate review of the dismissal of their claims and the MGC requested immediate appellate review of the court's denial of the MGC's motion to dismiss Mohegan's certiorari claim. All three petitions for interlocutory review were denied. The parties then appealed to the Massachusetts Supreme Judicial Court ("SJC"). On March 10, 2017, the SJC affirmed the trial court's dismissal of the City of Revere's claims and IBEW's claims. The SJC affirmed the court's dismissal of Mohegan's claims except for the certiorari claim, which the SJC remanded to the Suffolk Superior Court. Mohegan filed a motion for judgment on the pleadings on November 3, 2017, and oral argument will be re-scheduled from its originally scheduled date of April 5, 2018.

The SJC reversed the trial court's dismissal of the individual plaintiffs' open meeting law claim and remanded that claim to the Suffolk Superior Court. The parties are currently in the discovery phase. The MGC has filed a motion for summary judgment and oral argument is scheduled for March 29, 2019.

Wynn MA was not named in the Revere Action. The MGC retained private legal representation at its own nontaxpayer-funded expense.

Actions Related to Mr. Wynn

Investigations:

On January 26, 2018, the Company's Board of Directors formed a Special Committee comprised solely of independent directors to investigate allegations of inappropriate personal conduct by Mr. Wynn in the workplace. On February 12, 2018, the Special Committee amended and restated its charter to provide for a review of various governance issues regarding knowledge of the allegations and a comprehensive review of the Company's internal policies and procedures with the goal of employing best practices to maintain a safe and respectful workplace for all employees. On August 3, 2018, the Board received an oral final presentation from the Special Committee. The Special Committee provided a written memorialization of its investigation to the Company's gaming regulators in Massachusetts and Nevada, which have been investigating these matters, including suitability with respect to the Company and its related licensees, and the Company is cooperating with these regulatory reviews.

On January 25, 2019, the Nevada Gaming Control Board completed its investigation which commenced in 2018 and filed a complaint against the Company and its indirect subsidiary, Wynn Las Vegas, LLC (“NGCB Respondents”). Also on January 25, 2019, the NGCB Respondents entered into a Stipulation for Settlement with the Nevada Gaming Control Board in connection with its complaint, under which, among other things, the NGCB Respondents agreed to pay a fine in an amount to be determined by the Nevada Gaming Commission, and the Nevada Gaming Control Board agreed not to seek to revoke or limit the NGCB Respondents’ licenses, findings of suitability or any other approvals of the Nevada Gaming Commission. On February 26, 2019, the Nevada Gaming Commission approved the Stipulation for Settlement and fined the Company $20.0 million, which is included in other accrued liabilities as of December 31, 2018 on the accompanying Consolidated Balance Sheet.

On January 31, 2018, the Investigations & Enforcement Bureau (“IEB”) of the Massachusetts Gaming Commission announced it had commenced an investigation into the Company’s ongoing suitability as a gaming licensee in that jurisdiction. The Company has fully cooperated with the IEB’s investigation, and is awaiting the completion of the IEB’s investigation and scheduling of an adjudicatory hearing before the Massachusetts Gaming Commission.

Derivative Litigation:

A number of stockholder derivative actions have been filed purportedly on behalf of the Company in state and federal court located in Clark County, Nevada against certain current and former members of the Company’s Board of Directors and, in some cases, the Company’s current and former officers. Each of the complaints alleges, among other things, breach of fiduciary duties in failing to detect, prevent and remedy alleged inappropriate personal conduct by Mr. Wynn in the workplace. On September 19, 2018, the Board established a Special Litigation Committee (the “SLC”) to investigate the allegations in the State Derivative Case (as defined below).

The actions filed in the Eighth Judicial District Court of Clark County, Nevada have been consolidated as In re Wynn Resorts, Ltd. Derivative Litigation (“State Derivative Case”). In September 2018, the court denied the Company’s motion to dismiss, and the Company filed a writ petition appealing the denial to the Nevada Supreme Court. In October 2018, the Nevada Supreme Court denied the Company’s writ petition. On October 26, 2018, the SLC filed a motion to intervene and stay the case pending completion of its investigation. On November 14, 2018, the court granted the SLC’s motion and stayed the case, with the exception of limited document requests, for a period of 120 days. The SLC’s investigation is ongoing.

The actions filed in the United States District Court, District of Nevada have been consolidated as In re Wynn Resorts, Ltd. Derivative Litigation (“Federal Derivative Case”), which also claim corporate waste and violation of Section 14(a) of the Exchange Act. In June 2018, the Company filed a motion to dismiss and a motion to stay pending resolution of the Securities Action. The motions are fully-briefed and awaiting a decision from the court.

Each of the actions seeks to recover for the Company unspecified damages, including restitution and disgorgement of profits, and also seeks to recover attorneys’ fees, costs and related expenses for the plaintiff. Additional demands have been made to the Company that it commence similar actions and additional lawsuits may be filed in the future.

Securities Action:

On February 20, 2018, a putative securities class action was filed against the Company and certain current and former officers of the Company in the United States District Court, Southern District of New York (which was subsequently transferred to the United States District Court, District of Nevada) by John V. Ferris and Joann M. Ferris on behalf of all persons who purchased the Company's common stock between February 28, 2014 and January 25, 2018. The complaint alleges, among other things, certain violations of federal securities laws and seeks to recover unspecified damages as well as attorneys' fees, costs and related expenses for the plaintiffs. The Company is awaiting the lead plaintiffs’ filing of an amended complaint.

The defendants in these actions will vigorously defend against the claims pleaded against them. These actions are in preliminary stages and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of these actions or the range of reasonably possible loss, if any.

Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

The Company reviews the results of operations for each of its operating segments. Wynn Macau and Encore, an expansion at Wynn Macau, are managed as a single integrated resort and have been aggregated as one reportable segment ("Wynn Macau"). Wynn Palace is presented as a separate reportable segment and is combined with Wynn Macau for geographical presentation. Wynn Las Vegas, Encore, an expansion at Wynn Las Vegas, and the Retail Joint Venture are managed as a single integrated resort and have been aggregated as one reportable segment ("Las Vegas Operations"). The Company identifies each resort as a reportable segment considering operations within each 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 separately identifies capital expenditures and assets for its Encore Boston Harbor development project. Other Macau primarily represents the Company's Macau holding company.

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



	Years Ended December 31,
	2018			2017			2016
Operating revenues
Macau Operations:
Wynn Palace	$	2,757,566		$	2,030,287		$	555,574
Wynn Macau	2,294,525			2,336,910			2,150,721
Total Macau Operations	5,052,091			4,367,197			2,706,295
Las Vegas Operations	1,665,569			1,702,963			1,639,502
Total	$	6,717,660		$	6,070,160		$	4,345,797
Adjusted Property EBITDA (1)
Macau Operations:
Wynn Palace	$	843,902		$	527,583		$	103,036
Wynn Macau	733,238			760,752			681,509
Total Macau Operations	1,577,140			1,288,335			784,545
Las Vegas Operations	467,273			522,397			474,782
Total	2,044,413			1,810,732			1,259,327
Other operating expenses
Litigation settlement	463,557			—			—
Pre-opening	53,490			26,692			154,717
Depreciation and amortization	550,596			552,368			404,730
Property charges and other	60,256			29,576			54,822
Corporate expenses and other	144,479			102,560			80,178
Stock-based compensation (2)	36,491			43,971			43,218
Total other operating expenses	1,308,869			755,167			737,665
Operating income	735,544			1,055,565			521,662
Other non-operating income and expenses
Interest income	29,866			31,193			13,536
Interest expense, net of amounts capitalized	(381,849		)	(388,664		)	(289,365		)
Change in derivatives fair value	(4,520		)	(1,056		)	433
Change in Redemption Note fair value	(69,331		)	(59,700		)	65,043
Gain (loss) on extinguishment of debt	104			(55,360		)	—
Other	(4,074		)	(21,709		)	(712		)
Total other non-operating income and expenses	(429,804		)	(495,296		)	(211,065		)
Income before income taxes	305,740			560,269			310,597
Benefit (provision) for income taxes	497,344			328,985			(8,128		)
Net income	803,084			889,254			302,469
Net income attributable to noncontrolling interests	(230,654		)	(142,073		)	(60,494		)
Net income attributable to Wynn Resorts, Limited	$	572,430		$	747,181		$	241,975

(1)

"Adjusted Property EBITDA" is net income before interest, income taxes, depreciation and amortization, litigation settlement expense, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course and water rights leases), stock-based compensation, gain (loss) on extinguishment of debt, change in derivatives fair value, change in Redemption Note fair value and other non-operating income and expenses. 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, as well as a basis for determining certain incentive compensation. 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 GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their EBITDA calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that 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, income 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.


(2)	Excludes $0.7 million and $0.5 million included in pre-opening expenses, respectively, for the year ended December 31, 2018 and 2016. Pre-opening expenses did not include any stock-based compensation during 2017. Excludes a credit of $2.2 million included in property charges and other expenses in 2018.



	Years ended December 31,
	2018		2017		2016
Capital expenditures
Macau Operations:
Wynn Palace	$	89,617	$	107,405	$	838,271
Wynn Macau	62,542		43,510		43,548
Total Macau Operations	152,159		150,915		881,819
Las Vegas Operations	73,029		139,893		106,373
Encore Boston Harbor	791,250		572,825		212,197
Corporate and other	459,534		71,841		25,554
	$	1,475,972	$	935,474	$	1,225,943



	December 31,
	2018		2017		2016
Assets
Macau Operations:
Wynn Palace	$	3,858,904	$	4,017,494	$	4,317,458
Wynn Macau	1,903,921		1,271,544		1,161,670
Other Macau	68,487		174,769		28,927
Total Macau Operations	5,831,312		5,463,807		5,508,055
Las Vegas Operations	2,792,508		3,266,390		3,275,780
Encore Boston Harbor	1,865,286		1,060,530		419,001
Corporate and other	2,727,163		2,891,012		2,750,721
	$	13,216,269	$	12,681,739	$	11,953,557



	December 31,
	2018		2017		2016
Long-lived assets
Macau	$	4,387,051	$	4,613,950	$	4,973,854
United States	5,166,537		4,083,555		3,442,842
	$	9,553,588	$	8,697,505	$	8,416,696

Schedule II- Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2018

Valuation and Qualifying Accounts Disclosure [Line Items]

Schedule II- Valuation and Qualifying Accounts

VALUATION AND QUALIFYING ACCOUNTS

(in thousands)





Description	Balance at Beginning of Year		Provision (Benefit) for Doubtful Accounts		Write-offs, Net of Recoveries		Balance at End of Year
Allowance for doubtful accounts:
2018	$	30,600	6,527		(4,433	)	$	32,694
2017	$	54,742	(6,711	)	(17,431	)	$	30,600
2016	$	67,057	8,203		(20,518	)	$	54,742

Description	Balance at Beginning of Year		Additions		Deductions		Balance at End of Year
Deferred income tax asset valuation allowance:
2018	$	3,390,467	201,282		(947,850	)	$	2,643,899
2017	$	3,286,723	112,543		(8,799	)	$	3,390,467
2016	$	3,330,878	32,130		(76,285	)	$	3,286,723

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Principles of Consolidation

Basis of Presentation and Principles of Consolidation

Use of Estimates

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Cash and cash equivalents:
Cash (1)	$	1,455,744	$	2,354,244
Cash equivalents (2)	759,257		450,230
Total cash and cash equivalents	2,215,001		2,804,474
Restricted cash (3)	4,322		2,160
Total cash, cash equivalents and restricted cash	$	2,219,323	$	2,806,634

(1) Cash consists of cash on hand and bank deposits.

(2) Cash equivalents consist of bank time deposits and money market funds.

(3) Restricted cash consists of cash collateral associated with an obligation and cash held in a trust in accordance with WML's share award plan.

Investment Securities

Accounts Receivable and Credit Risk

Inventories

Property and Equipment

Purchases of property and equipment are stated at cost, and when placed into service, are depreciated over the estimated useful lives of the assets using the straight-line method as follows:



	Estimated Useful Life in Years
Buildings and improvements	10 - 45
Land improvements	10 - 45
Furniture, fixtures and equipment	3 - 20
Leasehold interest in land	25
Airplanes	20

Redemption Price Promissory Note

Derivative Financial Instruments

Gaming Taxes

Advertising Costs

The cost of advertising is expensed as incurred, and totaled $40.6 million, $37.8 million and $37.0 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Pre-Opening Expenses

Pre-opening expenses represent personnel, advertising, and other costs incurred prior to the opening of new ventures and are expensed as incurred.

Income Taxes

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

Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

Fair Value Measurements


•	Level 1 - Observable inputs such as quoted prices in active markets.


•	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable.


•	Level 3 - Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Earnings Per Share

Stock-Based Compensation

Recently Issued and Adopted Accounting Standards

Recently Adopted Accounting Standards

Revenue Recognition Standard


•	The promotional allowances line item was eliminated from the Consolidated Statements of Income with the majority of the amount being netted against casino revenues.


•	The estimated cost of providing complimentary goods or services will no longer be allocated primarily to casino expenses from other operating departments as the new guidance requires revenues and expenses associated with providing complimentary goods or services to be classified based on the goods or services provided.


•	The portion of junket commissions previously recorded as a casino expense is now recorded as a reduction of casino revenue.


•	Mandatory service charges on food and beverage are now recorded on a gross basis with the amount received from the customer recorded as food and beverage revenue and the corresponding amount paid to employees recorded as food and beverage expense.

Certain prior period amounts have been adjusted to reflect the full retrospective adoption of the guidance. There was no impact on the Company’s financial condition, operating income or net income.

The tables below provides a reconciliation of amounts previously reported and the resulting impacts from the adoption of the new revenue recognition guidance (in thousands):



	December 31, 2017
	As Previously Reported			Adoption of ASC 606			As Adjusted
Gross revenues	$	6,768,246		$	(698,086	)	$	6,070,160
Promotional allowances	(461,878		)	461,878			—
Operating revenues	6,306,368			(236,208		)	6,070,160
Operating expenses	5,250,803			(236,208		)	5,014,595
Operating income	$	1,055,565		$	—		$	1,055,565



	December 31, 2016
	As Previously Reported			Adoption of ASC 606			As Adjusted
Gross revenues	$	4,836,355		$	(490,558	)	$	4,345,797
Promotional allowances	(370,058		)	370,058			—
Operating revenues	4,466,297			(120,500		)	4,345,797
Operating expenses	3,944,635			(120,500		)	3,824,135
Operating income	$	521,662		$	—		$	521,662

Financial Instruments

Restricted Cash

Income Taxes

Statement of Cash Flows

Accounting Standards Issued But Not Yet Adopted

Leases

Financial Instruments - Credit Losses

Cloud Computing Arrangement Implementation Costs

Changes to the Disclosure Requirements for Fair Value Measurement

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

Cash, cash equivalents and restricted cash consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Cash and cash equivalents:
Cash (1)	$	1,455,744	$	2,354,244
Cash equivalents (2)	759,257		450,230
Total cash and cash equivalents	2,215,001		2,804,474
Restricted cash (3)	4,322		2,160
Total cash, cash equivalents and restricted cash	$	2,219,323	$	2,806,634

(1) Cash consists of cash on hand and bank deposits.

(2) Cash equivalents consist of bank time deposits and money market funds.

(3) Restricted cash consists of cash collateral associated with an obligation and cash held in a trust in accordance with WML's share award plan.

Schedule of Restricted Cash and Cash Equivalents

Cash, cash equivalents and restricted cash consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Cash and cash equivalents:
Cash (1)	$	1,455,744	$	2,354,244
Cash equivalents (2)	759,257		450,230
Total cash and cash equivalents	2,215,001		2,804,474
Restricted cash (3)	4,322		2,160
Total cash, cash equivalents and restricted cash	$	2,219,323	$	2,806,634

(1) Cash consists of cash on hand and bank deposits.

(2) Cash equivalents consist of bank time deposits and money market funds.

(3) Restricted cash consists of cash collateral associated with an obligation and cash held in a trust in accordance with WML's share award plan.

Schedule of Receivables, net

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



	December 31,
	2018			2017
Casino	$	229,594		$	173,664
Hotel	22,086			22,487
Other	57,658			58,577
	309,338			254,728
Less: allowance for doubtful accounts	(32,694		)	(30,600		)
	$	276,644		$	224,128

Schedule of Estimated Useful Lives of Assets

Purchases of property and equipment are stated at cost, and when placed into service, are depreciated over the estimated useful lives of the assets using the straight-line method as follows:



	Estimated Useful Life in Years
Buildings and improvements	10 - 45
Land improvements	10 - 45
Furniture, fixtures and equipment	3 - 20
Leasehold interest in land	25
Airplanes	20

Schedule of Accumulated Other Comprehensive Income (Loss)

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



	Foreign currency translation			Unrealized loss on investment securities			Redemption Note			Accumulated other comprehensive loss
January 1, 2018	$	(553	)	$	(1,292	)	$	—		$	(1,845	)
Cumulative credit risk adjustment (1)	—			—			(9,211		)	(9,211		)
Change in net unrealized gain (loss)	(1,397		)	(1,510		)	7,690			4,783
Amounts reclassified to net income (2)	—			2,802			1,521			4,323
Other comprehensive income (loss)	(1,397		)	1,292			9,211			9,106
December 31, 2018	$	(1,950	)	$	—		$	—		$	(1,950	)

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, 2018		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	759,257	$	—	$	759,257	$	—
Restricted cash	$	4,322	$	2,015	$	2,307	$	—

Liabilities:
Interest rate collar	$	619	$	—	$	619	$	—

			Fair Value Measurements Using:
	December 31, 2017		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	450,230	$	11,200	$	439,030	$	—
Available-for-sale securities	$	327,455	$	—	$	327,455	$	—
Restricted cash	$	2,160	$	—	$	2,160	$	—

Liabilities:
Redemption Note	$	1,879,058	$	—	$	1,879,058	$	—

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 amounts):



	Years Ended December 31,
	2018		2017		2016
Numerator:
Net income attributable to Wynn Resorts, Limited	$	572,430	$	747,181	$	241,975

Denominator:
Weighted average common shares outstanding	106,529		102,071		101,445
Potential dilutive effect of stock options and restricted stock	503		527		410
Weighted average common and common equivalent shares outstanding	107,032		102,598		101,855

Net income attributable to Wynn Resorts, Limited per common share, basic	$	5.37	$	7.32	$	2.39
Net income attributable to Wynn Resorts, Limited per common share, diluted	$	5.35	$	7.28	$	2.38

Anti-dilutive stock options and restricted stock excluded from the calculation of diluted earnings per share	102		106		758

Reconciliation of Amounts Previously Reported and Resulting Impacts from Adoption of New Revenue Recognition Guidance

The tables below provides a reconciliation of amounts previously reported and the resulting impacts from the adoption of the new revenue recognition guidance (in thousands):



	December 31, 2017
	As Previously Reported			Adoption of ASC 606			As Adjusted
Gross revenues	$	6,768,246		$	(698,086	)	$	6,070,160
Promotional allowances	(461,878		)	461,878			—
Operating revenues	6,306,368			(236,208		)	6,070,160
Operating expenses	5,250,803			(236,208		)	5,014,595
Operating income	$	1,055,565		$	—		$	1,055,565



	December 31, 2016
	As Previously Reported			Adoption of ASC 606			As Adjusted
Gross revenues	$	4,836,355		$	(490,558	)	$	4,345,797
Promotional allowances	(370,058		)	370,058			—
Operating revenues	4,466,297			(120,500		)	4,345,797
Operating expenses	3,944,635			(120,500		)	3,824,135
Operating income	$	521,662		$	—		$	521,662

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

investment securities consisted of the following (in thousands):



	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
As of December 31, 2017
Domestic and foreign corporate bonds	$	328,747	$	6	$	(1,298	)	$	327,455

- 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

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

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



	December 31,
	2018			2017
Buildings and improvements	$	7,707,467		$	7,582,611
Land and improvements	1,141,032			853,738
Furniture, fixtures and equipment	2,288,370			2,211,974
Leasehold interests in land	313,516			314,068
Airplanes	110,623			158,840
Construction in progress	1,912,801			1,016,207
	13,473,809			12,137,438
Less: accumulated depreciation	(4,087,889		)	(3,638,682		)
	$	9,385,920		$	8,498,756

Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Indefinite-Lived Intangible Assets

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



	December 31,
	2018			2017
Indefinite-lived intangible assets:
Water rights	$	6,760		$	6,400
Trademarks and other	1,637			1,387
Total indefinite-lived intangible assets	8,397			7,787

Finite-lived intangible assets:
Macau gaming concession	42,300			42,300
Less: accumulated amortization	(33,965		)	(31,582		)
	8,335			10,718

Massachusetts gaming license	117,700			105,200
Less: accumulated amortization	—			—
	117,700			105,200

Undeveloped land - Las Vegas	89,101			—
Less: accumulated amortization	(1,027		)	—
	88,074			—

Total finite-lived intangible assets	214,109			115,918
Total intangible assets, net	$	222,506		$	123,705

Finite-Lived Intangible Assets

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



	December 31,
	2018			2017
Indefinite-lived intangible assets:
Water rights	$	6,760		$	6,400
Trademarks and other	1,637			1,387
Total indefinite-lived intangible assets	8,397			7,787

Finite-lived intangible assets:
Macau gaming concession	42,300			42,300
Less: accumulated amortization	(33,965		)	(31,582		)
	8,335			10,718

Massachusetts gaming license	117,700			105,200
Less: accumulated amortization	—			—
	117,700			105,200

Undeveloped land - Las Vegas	89,101			—
Less: accumulated amortization	(1,027		)	—
	88,074			—

Total finite-lived intangible assets	214,109			115,918
Total intangible assets, net	$	222,506		$	123,705

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

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



	December 31,
	2018			2017
Macau Related:
Wynn Macau Credit Facilities:
Senior Term Loan Facility, due 2022	$	2,296,999		$	2,298,798
Senior Revolving Credit Facility, due 2022	623,921			—
4 7/8% Senior Notes, due 2024	600,000			600,000
5 1/2% Senior Notes, due 2027	750,000			750,000

U.S. and Corporate Related:
Wynn America Credit Facilities:
Senior Term Loan Facility, due 2021	994,780			1,000,000
4 1/4% Senior Notes, due 2023	500,000			500,000
5 1/2% Senior Notes, due 2025	1,780,000			1,800,000
5 1/4% Senior Notes, due 2027	880,000			900,000
Retail Term Loan, due 2025	615,000			—
Wynn Resorts Term Loan, due 2024	500,000			—
Redemption Price Promissory Note, due 2022	—			1,936,443
	9,540,700			9,785,241
Less: Unamortized debt issuance costs and original issue discounts and premium, net	(117,600		)	(99,231		)
Less: Redemption Note fair value adjustment	—			(57,384		)
	9,423,100			9,628,626
Less: Current portion of long-term debt	(11,960		)	(62,690		)
Total long-term debt, net of current portion	$	9,411,140		$	9,565,936

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt as of December 31, 2018 were as follows (in thousands):



Years Ending December 31,
2019	$	11,960
2020	275,040
2021	1,193,663
2022	2,455,037
2023	505,000
Thereafter	5,100,000
	9,540,700
Unamortized debt issuance costs and original issue discounts and premium, net	(117,600		)
	$	9,423,100

- 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=84159872&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=75038535&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=64930739&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=84159872&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=84159872&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=64930785&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=64930785&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=84159872&loc=d3e21521-112644

+ Details

Revenue (Tables)

12 Months Ended

Dec. 31, 2018

Revenue Recognition [Abstract]

Disaggregation of Revenues

Revenues disaggregated by type of revenue and geographic location are as follows (in thousands):



Year Ended December 31, 2018	Macau Operations		Las Vegas Operations		Total
Casino	$	4,350,907	$	434,083	$	4,784,990
Rooms	283,562		468,238		751,800
Food and beverage	187,006		567,122		754,128
Entertainment, retail and other (1)	230,616		196,126		426,742
Total operating revenues	$	5,052,091	$	1,665,569	$	6,717,660

Year Ended December 31, 2017
Casino	$	3,788,210	$	456,093	$	4,244,303
Rooms	217,581		453,376		670,957
Food and beverage	164,189		567,926		732,115
Entertainment, retail and other (1)	197,217		225,568		422,785
Total operating revenues	$	4,367,197	$	1,702,963	$	6,070,160

Year Ended December 31, 2016
Casino	$	2,313,518	$	437,372	$	2,750,890
Rooms	158,126		437,484		595,610
Food and beverage	99,703		535,708		635,411
Entertainment, retail and other (1)	134,948		228,938		363,886
Total operating revenues	$	2,706,295	$	1,639,502	$	4,345,797

(1) Includes lease revenue accounted for under lease accounting guidance.

Schedule of Customer Contract Liabilities

The Company’s primary liabilities associated with customer contracts are as follows (in thousands):



	December 31, 2018		December 31, 2017		Increase (decrease)			December 31, 2017		December 31, 2016		Increase (decrease)
Casino outstanding chips and front money deposits (1)	$	905,561	$	991,957	$	(86,396	)	$	991,957	$	546,487	$	445,470
Advance room deposits and ticket sales (2)	42,197		48,065		(5,868		)	48,065		41,583		6,482
Other gaming-related liabilities (3)	12,694		12,765		(71		)	12,765		12,033		732
Loyalty program and related liabilities (4)	18,148		18,421		(273		)	18,421		7,942		10,479
	$	978,600	$	1,071,208	$	(92,608	)	$	1,071,208	$	608,045	$	463,163

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award

Valuation Assumptions

The fair value of stock options granted under the Omnibus Plan during the year ended December 31, 2016 was estimated on the date of grant using an expected dividend yield of 2.0%, expected volatility of 45.4%, a risk-free interest rate of 1.1% and an expected term of 6.0 years.

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



	Years Ended December 31,
	2018		2017		2016
Expected dividend yield	5.7	%	5.7	%	6.3	%
Expected volatility	40.2	%	41.5	%	42.6	%
Risk-free interest rate	2.3	%	1.1	%	1.0	%
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

Option Activity

The summary of stock option activity under the Omnibus Plan for the year ended December 31, 2018 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2018	644,460		$	73.93
Granted	—		$	—
Exercised	(261,470	)	$	77.07
Forfeited or expired	(37,200	)	$	172.07
Outstanding as of December 31, 2018	345,790		$	60.99	1.25	$	14,796,122
Fully vested and expected to vest as of December 31, 2018	345,790		$	60.99	1.25	$	14,796,122
Exercisable as of December 31, 2018	285,790		$	63.91	1.44	$	11,688,722

The following is provided for stock options under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	—	$	—	$	34.90
Intrinsic value of stock options exercised	$	22,387	$	29,716	$	3,657
Cash received from the exercise of stock options	$	20,148	$	61,506	$	3,487

Restricted Stock Award Activity

The summary of nonvested share activity under the Omnibus Plan for the year ended December 31, 2018 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2018	460,584		$	98.21
Granted	288,270		170.13
Vested	(96,559	)	121.51
Forfeited	(125,908	)	133.76
Nonvested as of December 31, 2018	526,387		$	127.84

Restricted Stock Award Activity

The following is provided for the share awards under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	170.13	$	109.28	$	63.56
Fair value of shares vested	$	13,024	$	45,801	$	39,380

Share Option Plan

Share-based Compensation Arrangement by Share-based Payment Award

Restricted Stock Award Activity

The summary of stock option activity under the Share Option Plan for the year ended December 31, 2018 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2018	7,006,000		$	2.32
Granted	4,494,000		$	2.65
Exercised	(941,600	)	$	1.94
Outstanding as of December 31, 2018	10,558,400		$	2.49	7.80	$	1,403,732
Fully vested and expected to vest as of December 31, 2018	10,558,400		$	2.49	7.80	$	1,403,732
Exercisable as of December 31, 2018	3,302,800		$	2.72	5.20	$	484,717

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



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	0.57	$	0.56	$	0.31
Intrinsic value of stock options exercised	$	1,715	$	369	$	—
Cash received from the exercise of stock options	$	1,823	$	703	$	—

Share Award Plan

Share-based Compensation Arrangement by Share-based Payment Award

Restricted Stock Award Activity

The summary of nonvested share activity under the Share Award Plan for the year ended December 31, 2018 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2018	11,842,707		$	2.24
Granted	3,256,630		$	3.07
Vested	(3,565,245	)	$	3.56
Forfeited	(1,780,825	)	$	2.03
Nonvested as of December 31, 2018	9,753,267		$	2.07



	Years Ended December 31,
	2018		2017		2016
Weighted average grant date fair value	$	3.07	$	2.22	$	1.38
Fair value of shares vested	$	1,309	$	6,884	$	—

Share-Based Compensation Allocated Costs

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



	Years Ended December 31,
	2018			2017		2016
Casino	$	5,946		$	6,954	$	11,304
Rooms	437			655		374
Food and beverage	1,125			1,466		1,060
Entertainment, retail and other	111			147		82
General and administrative	28,872			34,749		30,398
Pre-opening	750			—		504
Property charges and other (1)	(2,201		)	—		—
Total stock-based compensation expense	35,040			43,971		43,722
Total stock-based compensation capitalized	11			80		92
Total stock-based compensation costs	$	35,051		$	44,051	$	43,814

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Consolidated Income Loss Before Taxes for Domestic and Foreign

Consolidated income (loss) before taxes for United States ("U.S.") and foreign operations consisted of the following (in thousands):



	Years Ended December 31,
	2018			2017		2016
United States	$	(491,523	)	$	90,206	$	90,900
Foreign	797,263			470,063		219,697
Total	$	305,740		$	560,269	$	310,597

Provision (Benefit) for Income Taxes

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



	December 31,
	2018			2017			2016
Current
U.S. Federal	$	(637	)	$	(19,856	)	$	60
U.S. State	198			51			79
Foreign	1,749			1,674			1,633
Total	1,310			(18,131		)	1,772
Deferred
U.S. Federal	(483,681		)	(309,423		)	5,081
U.S. State	(14,973		)	(1,431		)	1,275
Total	(498,654		)	(310,854		)	6,356
Total income tax benefit	$	(497,344	)	$	(328,985	)	$	8,128

Income Taxes (Federal Statutory Corporate Tax Rate)

as follows:



	December 31,
	2018		2017		2016
U.S. Federal statutory rate	21.0	%	35.0	%	35.0	%
Foreign tax credits, net of valuation allowance	(154.9	)%	(136.1	)%	(61.5	)%
Non-taxable foreign income	(48.8	)%	(20.1	)%	(20.7	)%
Foreign tax rate differential	(20.8	)%	(17.0	)%	(14.5	)%
Global intangible low-taxed income	28.3	%	—	%	—	%
Change in tax rate	—	%	(11.8	)%	—	%
Repatriation of foreign earnings	—	%	81.0	%	51.6	%
Valuation allowance, other	9.3	%	5.9	%	7.5	%
Other, net	3.2	%	4.4	%	5.2	%
Effective income tax rate	(162.7	)%	(58.7	)%	2.6	%

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):



	December 31,
	2018			2017
Deferred tax assets—U.S.:
Foreign tax credit carryforwards	$	3,187,797		$	3,616,872
Disallowed interest expense carryforward	67,368			—
Construction in progress	42,528			5,009
Receivables, inventories, accrued liabilities and other	10,878			19,356
Stock-based compensation	5,477			5,084
Other tax credit carryforwards	4,946			1,999
Intangibles and related other	489			3,486
Other	2,279			86
	3,321,762			3,651,892
Less: valuation allowance	(2,500,027		)	(3,273,292		)
	821,735			378,600
Deferred tax liabilities—U.S.:
Property and equipment	(70,560		)	(111,988		)
Redemption Note fair value	—			(13,139		)
Prepaid insurance, maintenance and taxes	(12,430		)	(10,391		)
Other	(2,293		)	(2,549		)
	(85,283		)	(138,067		)
Deferred tax assets—Foreign:
Net operating loss carryforwards	94,244			74,345
Property and equipment	41,520			36,299
Pre-opening expenses	8,421			10,717
Other	651			1,493
	144,836			122,854
Less: valuation allowance	(143,872		)	(117,175		)
	964			5,679
Deferred tax liabilities—Foreign:
Property and equipment	(964		)	(5,679		)

Net deferred tax asset	$	736,452		$	240,533

Reconciliation of Unrecognized Tax Benefits

unrecognized tax benefits as follows (in thousands):



	December 31,
	2018			2017			2016
Balance at beginning of period	$	95,236		$	90,523		$	88,314
Increases based on tax positions of the current year	8,926			8,520			5,930
Reductions due to lapse in statutes of limitations	(4,692		)	(3,807		)	(3,721		)
Balance at end of period	$	99,470		$	95,236		$	90,523

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

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,
2019	$	132,249
2020	130,731
2021	69,272
2022	48,024
2023	29,784
Thereafter	79,868
Total future minimum rentals	$	489,928

Future Minimum Rental Payable Under Non-Cancelable Operating Lease

December 31, 2018, the Company was obligated under non-cancelable leases to make future minimum lease payments as follows (in thousands):



Years Ending December 31,	Operating Leases		Capital Leases
2019	$	29,126	$	989
2020	20,153		989
2021	17,226		989
2022	16,466		989
2023	15,868		989
Thereafter	464,838		66,743
Total minimum lease payments	563,677		71,688
Less: Amount representing interest	—		(55,140		)
	$	563,677	$	16,548

Other Commitments

As of December 31, 2018, the Company was obligated under these arrangements, to make future minimum payments as follows (in thousands):



Years Ending December 31,
2019	$	168,646
2020	80,548
2021	56,393
2022	27,088
2023	4,980
Thereafter	—
Total minimum payments	$	337,655

Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Operations by Segment

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



	Years Ended December 31,
	2018			2017			2016
Operating revenues
Macau Operations:
Wynn Palace	$	2,757,566		$	2,030,287		$	555,574
Wynn Macau	2,294,525			2,336,910			2,150,721
Total Macau Operations	5,052,091			4,367,197			2,706,295
Las Vegas Operations	1,665,569			1,702,963			1,639,502
Total	$	6,717,660		$	6,070,160		$	4,345,797
Adjusted Property EBITDA (1)
Macau Operations:
Wynn Palace	$	843,902		$	527,583		$	103,036
Wynn Macau	733,238			760,752			681,509
Total Macau Operations	1,577,140			1,288,335			784,545
Las Vegas Operations	467,273			522,397			474,782
Total	2,044,413			1,810,732			1,259,327
Other operating expenses
Litigation settlement	463,557			—			—
Pre-opening	53,490			26,692			154,717
Depreciation and amortization	550,596			552,368			404,730
Property charges and other	60,256			29,576			54,822
Corporate expenses and other	144,479			102,560			80,178
Stock-based compensation (2)	36,491			43,971			43,218
Total other operating expenses	1,308,869			755,167			737,665
Operating income	735,544			1,055,565			521,662
Other non-operating income and expenses
Interest income	29,866			31,193			13,536
Interest expense, net of amounts capitalized	(381,849		)	(388,664		)	(289,365		)
Change in derivatives fair value	(4,520		)	(1,056		)	433
Change in Redemption Note fair value	(69,331		)	(59,700		)	65,043
Gain (loss) on extinguishment of debt	104			(55,360		)	—
Other	(4,074		)	(21,709		)	(712		)
Total other non-operating income and expenses	(429,804		)	(495,296		)	(211,065		)
Income before income taxes	305,740			560,269			310,597
Benefit (provision) for income taxes	497,344			328,985			(8,128		)
Net income	803,084			889,254			302,469
Net income attributable to noncontrolling interests	(230,654		)	(142,073		)	(60,494		)
Net income attributable to Wynn Resorts, Limited	$	572,430		$	747,181		$	241,975

(1)


(2)	Excludes $0.7 million and $0.5 million included in pre-opening expenses, respectively, for the year ended December 31, 2018 and 2016. Pre-opening expenses did not include any stock-based compensation during 2017. Excludes a credit of $2.2 million included in property charges and other expenses in 2018.

Capital Expenditures



	Years ended December 31,
	2018		2017		2016
Capital expenditures
Macau Operations:
Wynn Palace	$	89,617	$	107,405	$	838,271
Wynn Macau	62,542		43,510		43,548
Total Macau Operations	152,159		150,915		881,819
Las Vegas Operations	73,029		139,893		106,373
Encore Boston Harbor	791,250		572,825		212,197
Corporate and other	459,534		71,841		25,554
	$	1,475,972	$	935,474	$	1,225,943

Assets and Capital Expenditures by Segment



	December 31,
	2018		2017		2016
Assets
Macau Operations:
Wynn Palace	$	3,858,904	$	4,017,494	$	4,317,458
Wynn Macau	1,903,921		1,271,544		1,161,670
Other Macau	68,487		174,769		28,927
Total Macau Operations	5,831,312		5,463,807		5,508,055
Las Vegas Operations	2,792,508		3,266,390		3,275,780
Encore Boston Harbor	1,865,286		1,060,530		419,001
Corporate and other	2,727,163		2,891,012		2,750,721
	$	13,216,269	$	12,681,739	$	11,953,557

Long-lived Assets by Geographic Area



	December 31,
	2018		2017		2016
Long-lived assets
Macau	$	4,387,051	$	4,613,950	$	4,973,854
United States	5,166,537		4,083,555		3,442,842
	$	9,553,588	$	8,697,505	$	8,416,696

Organization - Additional Information (Detail)	12 Months Ended
Organization - Additional Information (Detail)	Dec. 31, 2018 ft² tower Facility Restaurant Outlet Room showroom
Wynn Macau
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of hotel \| tower	2
Number of rooms in hotel \| Room	1,008
Functional Area Square Footage	31,000
Number of restaurants \| Restaurant	11
Wynn Macau \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	273,000
Wynn Macau \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	59,000
Wynn Las Vegas
Organization Consolidation And Presentation Of Financial Statements Disclosure
Noncontrolling Interest, Ownership Percentage by Parent	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
Functional Area Square Footage	192,000
Wynn Las Vegas \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	160,000
Wynn Las Vegas \| Food and Beverage
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of outlets \| Outlet	33
Wynn Las Vegas \| Meeting and Convention Space
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	290,000
Functional area square footage under construction	430,000
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
Wynn Palace
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel \| Room	1,706
Number of restaurants \| Restaurant	13
Wynn Palace \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	424,000
Wynn Palace \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	106,000
Wynn Palace \| Meeting and Convention Space
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	37,000
Retail Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	88,000
Ownership Percentage	50.10%
Functional area square footage under construction	74,000

Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Cash	$ 1,455,744	$ 2,354,244
Cash equivalents	759,257	450,230
Total cash and cash equivalents	2,215,001	2,804,474
Restricted cash	4,322	2,160
Total cash, cash equivalents and restricted cash	$ 2,219,323	$ 2,806,634	$ 2,645,945	$ 2,645,945	$ 2,082,149

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended		12 Months Ended
	Feb. 18, 2012	Jul. 31, 2018	Feb. 18, 2012	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Mar. 30, 2018	Jan. 01, 2018	Jan. 01, 2017
Summary of Significant Accounting Policies
Amortization of debt issuance costs				$ 36,917	$ 25,013	$ 24,326
Percentage of credit markers due from customers residing outside of the United States				85.00%	81.70%
Capitalized interest				$ 57,300	$ 18,400	94,100
Common stock redeemed, shares			24,549,222
Payment to acquire derivatives				(3,900)	0	0
Gaming tax expenses				2,440,000	2,170,000	1,320,000
Total advertising costs				40,600	37,800	37,000
Effect of change in accounting									$ 0	$ 111
Change in restricted cash					190,600	$ (190,800)
Interest Rate Collar
Summary of Significant Accounting Policies
Term of interest rate collar		5 years
Interest rate swap notional amount		$ 615,000
Payment to acquire derivatives		$ (3,900)
Floor rate		1.00%
Ceiling rate		3.75%
Fair value of interest rate collar, liability				$ 600
Accumulated Other Comprehensive Income (Loss)
Summary of Significant Accounting Policies
Effect of change in accounting									$ (9,211)
Accounting Standards Update 2016-01 \| Accumulated Other Comprehensive Income (Loss)
Summary of Significant Accounting Policies
Effect of change in accounting					(9,200)
Aruze USA, Inc.
Summary of Significant Accounting Policies
Common stock redeemed, shares	24,549,222
Debt instrument, aggregate principal amount	$ 1,940,000		$ 1,940,000
Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2% \| Aruze USA, Inc. \| Promissory Note
Summary of Significant Accounting Policies
Common stock redeemed, shares	24,549,222
Debt instrument, aggregate principal amount	$ 1,940,000		$ 1,940,000					$ 1,940,000
Debt instrument, interest rate							2.00%
Debt instrument, fair value					$ 1,880,000

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Schedule of Receivables, net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 309,338	$ 254,728
Less: allowance for doubtful accounts	(32,694)	(30,600)
Receivables, net	276,644	224,128
Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	229,594	173,664
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	22,086	22,487
Retail Leases and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 57,658	$ 58,577

Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Detail)	12 Months Ended
	Dec. 31, 2018
Buildings and Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Buildings and Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	45 years
Land Improvements [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Land Improvements [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	45 years
Leasehold Interest in Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	25 years
Airplanes
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Furniture, Fixtures and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture, Fixtures and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years

Summary of Significant Accounting Policies - Changes by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of period	$ (1,845)
Cumulative credit risk adjustment	(9,211)	$ 0	$ 0
Amounts reclassified to net income	4,323
Change in net unrealized gain (loss)	4,783
Other comprehensive income (loss)	9,106
End of period	(1,950)	(1,845)
Other-than-temporary impairment losses	1,800
(Loss) gain on extinguishment of debt	104	(55,360)	$ 0
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of period	(553)
Cumulative credit risk adjustment	0
Amounts reclassified to net income	0
Change in net unrealized gain (loss)	(1,397)
Other comprehensive income (loss)	(1,397)
End of period	(1,950)	(553)
Unrealized loss on investment securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of period	(1,292)
Cumulative credit risk adjustment	0
Amounts reclassified to net income	2,802
Change in net unrealized gain (loss)	(1,510)
Other comprehensive income (loss)	1,292
End of period	0	(1,292)
Other-than-temporary impairment losses	1,800
Realized losses on investments	1,000
Redemption Note
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of period	0
Cumulative credit risk adjustment	(9,211)
Amounts reclassified to net income	1,521
Change in net unrealized gain (loss)	7,690
Other comprehensive income (loss)	9,211
End of period	0	$ 0
(Loss) gain on extinguishment of debt	$ 1,500

Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Carried at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 759,257	$ 450,230
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	759,257	450,230
Available-for-sale securities		327,455
Restricted cash	4,322	2,160
Derivative Liability	619
Redemption Note		1,879,058
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	0	11,200
Available-for-sale securities		0
Restricted cash	2,015	0
Derivative Liability	0
Redemption Note		0
Fair Value, Measurements, Recurring \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	759,257	439,030
Available-for-sale securities		327,455
Restricted cash	2,307	2,160
Derivative Liability	619
Redemption Note		1,879,058
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Available-for-sale securities		0
Restricted cash	0	0
Derivative Liability	$ 0
Redemption Note		$ 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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Net income attributable to Wynn Resorts, Limited	$ 572,430	$ 747,181	$ 241,975
Weighted average common shares outstanding (used in calculation of basic earnings per share)	106,529	102,071	101,445
Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)	107,032	102,598	101,855
Potential dilution from the assumed exercise of stock options and nonvested stock	503	527	410
Earnings Per Share, Basic	$ 5.37	$ 7.32	$ 2.39
Earnings Per Share, Diluted	$ 5.35	$ 7.28	$ 2.38
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	102	106	758

Summary of Significant Accounting Policies - Reconciliation of Amounts Previously Reported and Resulting Impacts from Adoption of New Revenue Recognition Guidance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Gross revenues		$ 6,070,160	$ 4,345,797
Promotional allowances		0	0
Operating revenues	$ 6,717,660	6,070,160	4,345,797
Operating expenses	5,982,116	5,014,595	3,824,135
Operating income	$ 735,544	1,055,565	521,662
As Previously Reported
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Gross revenues		6,768,246	4,836,355
Promotional allowances		(461,878)	(370,058)
Operating revenues		6,306,368	4,466,297
Operating expenses		5,250,803	3,944,635
Operating income		1,055,565	521,662
Accounting Standards Update 2014-09 \| Adoption of ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Gross revenues		(698,086)	(490,558)
Promotional allowances		461,878	370,058
Operating revenues		(236,208)	(120,500)
Operating expenses		(236,208)	(120,500)
Operating income		$ 0	$ 0

Investment Securities - Schedule of Investment Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities
Proceeds from sale of long-term investments	$ 325,400
Other-than-temporary impairment losses	$ 1,800
Domestic and Foreign Corporate Bonds
Schedule of Available-for-sale Securities
Available-for-sale securities, Amortized cost		$ 328,747
Available-for-sale securities, Gross unrealized gains		6
Available-for-sale securities, Gross unrealized losses		(1,298)
Available-for-sale securities		$ 327,455

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Buildings and improvements	$ 7,707,467	$ 7,582,611
Land and improvements	1,141,032	853,738
Furniture, fixtures and equipment	2,288,370	2,211,974
Leasehold interests in land	313,516	314,068
Airplanes	110,623	158,840
Construction in progress	1,912,801	1,016,207
Property and equipment, gross	13,473,809	12,137,438
Less: accumulated depreciation	(4,087,889)	(3,638,682)
Property and equipment, net	$ 9,385,920	$ 8,498,756

Property and Equipment, net Property and Equipment, net - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($) a	Dec. 31, 2018 USD ($) airplane	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Property, Plant and Equipment [Line Items]
Depreciation		$ 546.1	$ 547.9	$ 398.2
Finite-lived intangible assets acquired		$ 89.1
Airplanes
Property, Plant and Equipment [Line Items]
Number of airplanes sold \| airplane		2
Net book value of airplanes sold		$ 65.3
Proceeds for sale of airplanes		50.6
Loss on disposal		14.7
Land
Property, Plant and Equipment [Line Items]
Payments to acquire land	$ 336.2
Area of land acquired \| a	38
Land acquired		$ 247.0
Assets Leased to Others
Property, Plant and Equipment [Line Items]
Area of land acquired \| a	16

Intangible Assets, net - Schedule of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets
Finite-lived intangible assets, net	$ 214,109	$ 115,918
Indefinite-lived intangible assets	8,397	7,787
Total intangible assets, net	222,506	123,705
Macau Gaming Concession
Intangible Assets
Finite-lived intangible assets, gross	42,300	42,300
Less: accumulated amortization	(33,965)	(31,582)
Finite-lived intangible assets, net	8,335	10,718
Massachusetts Gaming License
Intangible Assets
Finite-lived intangible assets, gross	117,700	105,200
Less: accumulated amortization	0	0
Finite-lived intangible assets, net	117,700	105,200
Undeveloped Land - Las Vegas
Intangible Assets
Finite-lived intangible assets, gross	89,101	0
Less: accumulated amortization	(1,027)	0
Finite-lived intangible assets, net	88,074	0
Trademarks
Intangible Assets
Indefinite-lived intangible assets	1,637	1,387
Water Rights
Intangible Assets
Indefinite-lived intangible assets	$ 6,760	$ 6,400

Intangible Assets, net - Additional Information (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018 a	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Land
Schedule Of Finite And Indefinite Lived Intangible Assets
Ground lease payments, 2019		$ 3,800
Ground lease payments, 2020		3,800
Ground lease payments, 2021		3,800
Ground lease payments, 2022		3,800
Ground lease payments, 2023		3,800
Ground lease payments, thereafter		$ 370,700
Land
Schedule Of Finite And Indefinite Lived Intangible Assets
Area of land acquired \| a	38
Assets Leased to Others
Schedule Of Finite And Indefinite Lived Intangible Assets
Area of land acquired \| a	16
Macau Gaming Concession
Schedule Of Finite And Indefinite Lived Intangible Assets
Intangible assets, useful life, years		20 years
Future amortization expense, 2019		$ 2,400
Future amortization expense, 2020		2,400
Future amortization expense, 2021		2,400
Future amortization expense, 2022		1,200
Finite-lived intangible assets, gross		$ 42,300	$ 42,300
Massachusetts Gaming License
Schedule Of Finite And Indefinite Lived Intangible Assets
Intangible assets, useful life, years		15 years
Finite-lived intangible assets, gross		$ 117,700	105,200
Undeveloped Land - Las Vegas
Schedule Of Finite And Indefinite Lived Intangible Assets
Finite-lived intangible assets, gross		89,101	$ 0
Expected amortization of associated intangible assets, each year 2019-2096		1,100
Expected amortization of associated intangible assets, 2097		$ 700

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Sep. 20, 2017	Sep. 11, 2017	Feb. 18, 2015	May 22, 2013	Feb. 18, 2012
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 9,540,700,000	$ 9,785,241,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	(117,600,000)	(99,231,000)
Fair Value Adjustment of Debt	0	(57,384,000)
Long-term debt total	9,423,100,000	9,628,626,000
Current portion of long-term debt	(11,960,000)	(62,690,000)
Non current portion of long-term debt	9,411,140,000	9,565,936,000
Medium-term Notes \| Wynn Resorts Term Loan Due 2024
Debt Instrument [Line Items]
Long-term Debt, Gross	500,000,000	0
Wynn Macau \| Secured Debt \| Senior Term Loan Facility, Due 2022
Debt Instrument [Line Items]
Long-term Debt, Gross	2,296,999,000	2,298,798,000
Wynn Macau \| Revolving Credit Facility \| Senior Revolving Credit Facility, Due 2022
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 623,921,000	0
Wynn Macau, Limited \| WML Finance Credit Facility
Debt Instrument [Line Items]
Debt instrument, interest rate	1.50%
Wynn Macau, Limited \| Senior Notes \| 4 7/8% Senior Notes, due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	4.875%		4.875%
Long-term Debt, Gross	$ 600,000,000	600,000,000
Debt instrument, aggregate principal amount			$ 600,000,000
Wynn Macau, Limited \| Senior Notes \| 5 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%		5.50%
Long-term Debt, Gross	$ 750,000,000	750,000,000
Debt instrument, aggregate principal amount			$ 750,000,000
Wynn Macau, Limited \| Senior Notes \| 5 1/4% Senior Notes, due 2021
Debt Instrument [Line Items]
Debt instrument, interest rate				5250.00%
Wynn America \| Secured Debt \| Senior Term Loan Facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 994,780,000	1,000,000,000
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 [Line Items]
Debt instrument, interest rate	4.25%
Long-term Debt, Gross	$ 500,000,000	500,000,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 5 1/2% Senior Notes, Due March 1, 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%
Long-term Debt, Gross	$ 1,780,000,000	1,800,000,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 5 1/2% Senior Notes, Due May 15, 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.25%
Long-term Debt, Gross	$ 880,000,000	900,000,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Long-term Debt, Gross	0
Debt instrument, aggregate principal amount							$ 1,936,443,000
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 [Line Items]
Debt instrument, interest rate						4.25%
Debt instrument, aggregate principal amount						$ 500,000,000
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 [Line Items]
Debt instrument, interest rate					5.50%
Debt instrument, aggregate principal amount					$ 1,800,000,000
Wynn/CA Plaza Property Owner, LLC And Wynn/CA Property Owner, LLC \| Medium-term Notes \| Retail Term Loan, Due 2025
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 615,000,000	$ 0

Long-Term Debt Long-Term Debt - Wynn Macau Credit Facilities (Details) $ in Thousands, MOP$ in Millions		12 Months Ended
	Sep. 30, 2015 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 MOP (MOP$)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 MOP (MOP$)
Line of Credit Facility [Line Items]
Loss on extinguishment of debt		$ (104)		$ 55,360	$ 0
Senior Term Loan Facility, Due 2022 \| Wynn Macau
Line of Credit Facility [Line Items]
Consolidated leverage ratio, minimum		4.5	4.5
Consolidated leverage ratio excess cash flow percentage		25.00%	25.00%
Interest coverage ratio, minimum		2.00	2.00
Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 750,000
Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Final payment percent, principal	50.00%
Interest rate during period on debt		4.17%	4.17%	3.16%
Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Secured Debt \| Secured Debt
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 2,300,000
Conditional increase limit on line of credit	$ 1,000,000
Amended Common Terms Agreement, Senior Term Loan Facility, Due June 2022 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Final payment percent, principal		75.00%	75.00%
Minimum \| Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage		0.52%	0.52%
Minimum \| Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Periodic principal payment percent	2.50%
Minimum \| Amended Common Terms Agreement, Senior Term Loan Facility, Due June 2022 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Periodic principal payment percent		2.875%	2.875%
Maximum \| Senior Term Loan Facility, Due 2022 \| Wynn Macau
Line of Credit Facility [Line Items]
Debt covenant, maximum leverage ratio		4.75				4.75
Maximum \| Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage		0.79%	0.79%
Maximum \| Senior Term Loan Facility, Due 2022 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Periodic principal payment percent	7.33%
Maximum \| Amended Common Terms Agreement, Senior Term Loan Facility, Due June 2022 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Periodic principal payment percent		4.50%	4.50%
Performance Guarantee \| Bank Guarantee Reimbursement Agreement \| Wynn Macau
Line of Credit Facility [Line Items]
Bank guarantee carrying amount		$ 37,300				MOP$ 300.0
Period after the end of the term of the concession agreement that the guarantee amount will remain unchanged		180 days	180 days
Maximum guarantee by Macau government		$ 300	MOP$ 2.3

Long-Term Debt Long-Term Debt - WML Finance Revolving Credit Facility (Details) - Wynn Macau, Limited - WML Finance Credit Facility $ in Millions, $ in Millions	Dec. 31, 2018 USD ($)	Dec. 31, 2018 HKD ($)
Line of Credit Facility [Line Items]
Debt instrument, interest rate	1.50%	1.50%
Margin owed for cash collateral	0.40%	0.40%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Availability of credit facility	$ 495.2	$ 3,870

Long-Term Debt Long-Term Debt - 4 7/8% Seniore Notes Due 2024 and 5 1/2% Senior Notes due 2027 (Details) - Wynn Macau, Limited - Senior Notes - USD ($)	Sep. 20, 2017	Dec. 31, 2018
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Redemption period one
Debt Instrument [Line Items]
Redemption percentage, redeemable from cash proceeds from equity offerings	35.00%
Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Change of control
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	101.00%
Change in tax laws or tax positions
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Material adverse effect on the financial condition due to licenses, permits and concessions
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
4 7/8% Senior Notes, due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	4.875%	4.875%
Debt instrument, aggregate principal amount	$ 600,000,000
4 7/8% Senior Notes, due 2024 \| Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	104.875%
4 7/8% Senior Notes, due 2024 \| Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	102.438%
5 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%	5.50%
Debt instrument, aggregate principal amount	$ 750,000,000
5 1/2% Senior Notes, due 2027 \| Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	105.50%
5 1/2% Senior Notes, due 2027 \| Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	102.75%

Long-Term Debt - Bridge Facility (Details) - Bridge Loan - Bridge Facility	Mar. 28, 2018 USD ($)
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 800,000,000
Term	364 days
Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%

Long-Term Debt Long-Term Debt - Redemption Price Promissory Note (Details) - Aruze USA, Inc. - USD ($) $ in Millions	Mar. 30, 2018	Feb. 18, 2012
Debt Instrument [Line Items]
Redemption price promissory note, principal amount		$ 1,940
Promissory Note \| Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Redemption price promissory note, principal amount	$ 1,940	$ 1,940

Long-Term Debt - Commitment Letter (Details) - Line of Credit - Commitment Letter - USD ($)	Sep. 19, 2018	Dec. 31, 2018	Oct. 24, 2018
Debt Instrument [Line Items]
Term	364 days
Credit facility, maximum borrowing capacity	$ 750,000,000	$ 250,000,000
Amount terminated			$ 500,000,000

Long-Term Debt Long-Term Debt - Wynn Resorts Term Loan (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Amount of term loan facility		$ 9,540,700	$ 9,785,241
Medium-term Notes \| Wynn Resorts Term Loan Due 2024
Debt Instrument [Line Items]
Amount of term loan facility		$ 500,000	$ 0
Term	6 years
Interest rate during period on debt		4.78%
Periodic payment	$ 1,300
Balloon payment due at maturity	$ 471,300
Maximum consolidated senior secured net leverage ratio	4.5
Medium-term Notes \| Wynn Resorts Term Loan Due 2024 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Mandatory Prepayments of Indebtedness Equal to 50% of Excess Cash Flow \| Medium-term Notes \| Wynn Resorts Term Loan Due 2024
Debt Instrument [Line Items]
Mandatory prepayments of indebtedness, percent of excess cash flows	50.00%
Mandatory Prepayments of Indebtedness Equal to 50% of Excess Cash Flow, Prior to Opening of Encore Boston Harbor \| Medium-term Notes \| Wynn Resorts Term Loan Due 2024
Debt Instrument [Line Items]
Maximum consolidated senior secured net leverage ratio	4.5
Mandatory Prepayments of Indebtedness Equal to 50% of Excess Cash Flow, After Opening of Encore Boston Harbor \| Medium-term Notes \| Wynn Resorts Term Loan Due 2024
Debt Instrument [Line Items]
Maximum consolidated senior secured net leverage ratio	4.0
No Mandatory Prepayments of Indebtedness in Respect of Excess Cash Flows \| Medium-term Notes \| Wynn Resorts Term Loan Due 2024
Debt Instrument [Line Items]
Mandatory prepayments of indebtedness, percent of excess cash flows	0.00%

Long-Term Debt Long-Term Debt - Wynn America Credit Facilities (Details) - USD ($)		12 Months Ended
	Apr. 24, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ (104,000)	$ 55,360,000	$ 0
Wynn America \| Secured Debt \| WA Senior Term Loan Facility II
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 125,000,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility I
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	875,000,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility I, Due November 2020
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	69,600,000.0
Periodic payment	1,700,000
Balloon payment due at maturity	52,200,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility I, Due December 2021
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	805,400,000.0
Periodic payment	20,100,000
Annual principal payment	664,500,000
Wynn America \| Secured Debt \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Interest rate during period on debt		4.10%	3.32%
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
Wynn America \| Revolving Credit Facility \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Availability of credit facility		357,300,000
Letter of credit outstanding		$ 17,700,000
Revolving Credit Facility \| Wynn America \| WA Senior Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	375,000,000
Revolving Credit Facility \| Wynn America \| WA Senior Revolving Credit Facility, Due November 2019
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	42,000,000
Revolving Credit Facility \| Wynn America \| WA Senior Revolving Credit Facility Due December 2021
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	333,000,000
Wynn America Credit Facilities \| Wynn America \| Secured Debt
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 1,500,000
Base Rate \| Wynn America \| Secured Debt \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
LIBOR \| Wynn America \| Secured Debt \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%

Long-Term Debt Long-Term Debt - 4 1/4% Senior Notes due 2023 (Details) - Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp - 4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 20, 2018	May 22, 2013
First Mortgage Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount			$ 500
Debt instrument, interest rate			4.25%
Debt Instrument, Maturity Date	May 30, 2023
Debt redemption date	Feb. 28, 2023
Debt redemption price as percentage of principal	100.00%
Percentage of principal repayment on the event of change of control	101.00%
Payment default classification period for interest payment	30 days
Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.25%
Amount paid to execute indenture		$ 25
Debt issuance costs		$ 25

Long-Term Debt Long-Term Debt - 5 1/2% Senior Notes due 2025 (Details) - USD ($) $ in Millions		12 Months Ended
	Feb. 18, 2015	Dec. 31, 2018	Mar. 31, 2018
5 1/2% Senior Notes, Due March 1, 2025 \| Maximum
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%	100.00%
Percentage of principal repayment on the event of change of control	101.00%
Payment default classification period for interest payment		30 days
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 5 1/2% Senior Notes, Due March 1, 2025
Debt Instrument [Line Items]
Debt instrument, interest rate		5.50%
Principal amount purchased			$ 20
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 [Line Items]
Debt instrument, interest rate	5.50%
Debt instrument, aggregate principal amount	$ 1,800

Long-Term Debt Long-Term Debt - 5 1/4% Senior Notes, Due 2027 (Details) - Senior Notes - 5 1/2% Senior Notes, Due May 15, 2027 - USD ($)	May 11, 2017	Dec. 31, 2018	Mar. 31, 2018
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp
Debt Instrument [Line Items]
Debt instrument, interest rate		5.25%
Subsidiary Issuer
Debt Instrument [Line Items]
Debt covenant, percentage of total assets	15.00%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp
Debt Instrument [Line Items]
Debt instrument, interest rate	5.25%
Debt instrument, aggregate principal amount	$ 900,000,000
Principal amount purchased			$ 20,000,000
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Redemption period three
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	101.00%

Long-Term Debt Long-Term Debt - 5 3/8% First Mortgage Notes due 2022 (Details) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	Jun. 12, 2017	May 04, 2017	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ (104)	$ 55,360	$ 0
5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022 \| First Mortgage Notes
Debt Instrument [Line Items]
Debt instrument, interest rate		5.375%
Extinguishment of Debt, Amount	$ 402,000	$ 498,000
Extinguishment of debt, amount premium	$ 10,800	$ 14,600
Loss on extinguishment of debt			$ 20,800

Long-Term Debt Long-Term Debt - Retail Term Loan (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 25, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Amount of term loan facility		$ 9,540,700	$ 9,785,241
Proceeds from issuance of long-term debt		2,788,925	2,429,988	$ 1,430,313
Medium-term Notes \| Wynn/CA Plaza Property Owner, LLC And Wynn/CA Property Owner, LLC \| Retail Term Loan, Due 2025
Debt Instrument [Line Items]
Amount of term loan facility		$ 615,000	$ 0
Interest rate		4.05%
Proceeds from issuance of long-term debt	$ 589,000
Prepayment premium	1.70%
LIBOR \| Medium-term Notes \| Wynn/CA Plaza Property Owner, LLC And Wynn/CA Property Owner, LLC \| Retail Term Loan, Due 2025
Debt Instrument [Line Items]
Basis spread on variable rate	1.70%
Minimum \| LIBOR \| Medium-term Notes \| Wynn/CA Plaza Property Owner, LLC And Wynn/CA Property Owner, LLC \| Retail Term Loan, Due 2025
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Maximum \| LIBOR \| Medium-term Notes \| Wynn/CA Plaza Property Owner, LLC And Wynn/CA Property Owner, LLC \| Retail Term Loan, Due 2025
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%

Long-Term Debt - Scheduled Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2018	$ 11,960
2019	275,040
2020	1,193,663
2021	2,455,037
2022	505,000
Thereafter	5,100,000
Long-term Debt, Gross	9,540,700	$ 9,785,241
Debt Instrument, Unamortized Discount (Premium), Net	(117,600)
Fair Value Adjustment of Debt	0	(57,384)
Long-term debt total	$ 9,423,100	$ 9,628,626

Stockholders' Equity Sale of Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 03, 2018	Dec. 31, 2018	Dec. 31, 2017
Subsidiary, Sale of Stock [Line Items]
Common stock, par value		$ 0.01	$ 0.01
Equity Offering
Subsidiary, Sale of Stock [Line Items]
Newly issued shares of common stock in registered public offering (shares)	5,300,000
Common stock, par value	$ 0.01
Price per share (usd per share)	$ 175
Proceeds	$ 915.2
Underwriting discounts	11.7
Offering expenses	$ 0.6

Stockholder's Equity - Additional Information (Detail) - USD ($)		1 Months Ended	3 Months Ended											12 Months Ended
	Jan. 30, 2019	Feb. 18, 2012	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Equity, Class of Treasury Stock
Stock repurchases, shares														19,120	148,413	198,942
Net cost for common stock purchased														$ 159,544,000	$ 17,771,000	$ 14,017,000
Dividend paid (per share)			$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 2.75
Cash dividends declared														$ 571,451,000	$ 321,083,000	$ 313,926,000
Common shares redeemed and canceled		24,549,222
Equity Repurchase Program
Equity, Class of Treasury Stock
Authorized amount under repurchase program			$ 1,000,000,000.0											$ 1,000,000,000.0
Stock repurchases, shares														1,478,552	0	0
Net cost for common stock purchased														$ 156,700,000
Repurchase authority remaining under the program			$ 843,300,000											843,300,000
Total Wynn Resorts, Limited stockholders' equity (deficit)
Equity, Class of Treasury Stock
Net cost for common stock purchased														159,544,000	$ 17,771,000	$ 14,017,000
Cash dividends declared														$ 294,923,000	$ 204,515,000	$ 202,210,000
Subsequent Event
Equity, Class of Treasury Stock
Dividends declared per common share (usd per share)	$ 0.75

Noncontrolling Interests - Additional Information (Detail)											3 Months Ended												6 Months Ended	12 Months Ended
	Oct. 05, 2018 USD ($)	Oct. 05, 2018 $ / shares	Apr. 25, 2018 USD ($)	Apr. 25, 2018 $ / shares	Sep. 15, 2017 USD ($)	Sep. 15, 2017 $ / shares	Jun. 20, 2017 USD ($)	Jun. 20, 2017 $ / shares	Apr. 27, 2016 USD ($)	Apr. 27, 2016 $ / shares	Dec. 31, 2018 $ / shares	Sep. 30, 2018 $ / shares	Jun. 30, 2018 $ / shares	Mar. 31, 2018 $ / shares	Dec. 31, 2017 $ / shares	Sep. 30, 2017 $ / shares	Jun. 30, 2017 $ / shares	Mar. 31, 2017 USD ($)	Dec. 31, 2016 $ / shares	Sep. 30, 2016 $ / shares	Jun. 30, 2016 $ / shares	Mar. 31, 2016 $ / shares	Jun. 30, 2018 $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Noncontrolling Interest
Dividend paid (HK per share) \| $ / shares											$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.5	$ 0.5	$ 0.5		$ 0.5	$ 0.5	$ 0.5	$ 0.5		$ 2.75
Cash dividends declared (usd per share)																		$ 0.50
Decrease from distributions to noncontrolling interest																								$ 305,372,000	$ 11,436,000	$ 33,000
Wynn Macau, Limited
Noncontrolling Interest
Noncontrolling Interest, Ownership Percentage by Parent											72.00%													72.00%
Dividend paid (HK per share) \| $ / shares										$ 0.60
Cash dividends declared (usd per share)									$ 401,900,000
Company's share of dividend									290,100,000
Decrease from distributions to noncontrolling interest									$ 111,800,000
Retail Joint Venture
Noncontrolling Interest
Decrease from distributions to noncontrolling interest																								$ 305,400,000
Subsidiaries [Member] \| Wynn Macau, Limited
Noncontrolling Interest
Dividend paid (HK per share) \| $ / shares		$ 0.75		$ 0.75		$ 0.21		$ 0.42
Cash dividends declared (usd per share)			$ 497,100,000		$ 139,400,000		$ 279,900,000																	$ 496,600,000
Wynn Macau, Limited
Noncontrolling Interest
Company's share of dividend	$ 358,300,000		358,800,000		100,600,000		202,000,000
Decrease from distributions to noncontrolling interest	$ 138,200,000		$ 138,300,000		$ 38,800,000		$ 77,900,000
Interim Dividend \| Subsidiaries [Member] \| Wynn Macau, Limited
Noncontrolling Interest
Dividends declared per common share (usd per share) \| $ / shares																							$ 0.32
Special Dividend \| Subsidiaries [Member] \| Wynn Macau, Limited
Noncontrolling Interest
Dividends declared per common share (usd per share) \| $ / shares		$ 0.43

Benefit Plans - Defined Contribution Plan (Detail) - United States - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure
Company's matching contribution percentage	50.00%
Defined Contribution Plan, Cost	$ 6.4	$ 6.1	$ 6.1
Maximum
Defined Contribution Plan Disclosure
Employee contributions, percentage	6.00%
Wynn Macau
Defined Contribution Plan Disclosure
Defined Contribution Plan, Cost	$ 16.6	$ 15.8	$ 12.9
Employee contribution percentage	5.00%
Annual vesting 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, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure
Multi-employer plan, period contributions	$ 11.9	$ 11.5	$ 9.3
Total contribution threshold percentage		5.00%

Revenue Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Disaggregation of Revenues and Contract Liabilities [Line Items]
Casino	$ 4,784,990	$ 4,244,303	$ 2,750,890
Occupancy	751,800	670,957	595,610
Food and Beverage	754,128	732,115	635,411
Entertainment Retail And Other	426,742	422,785	363,886
Revenues	6,717,660	6,070,160	4,345,797
Macau Operations
Schedule of Disaggregation of Revenues and Contract Liabilities [Line Items]
Casino	4,350,907	3,788,210	2,313,518
Occupancy	283,562	217,581	158,126
Food and Beverage	187,006	164,189	99,703
Entertainment Retail And Other	230,616	197,217	134,948
Revenues	5,052,091	4,367,197	2,706,295
Las Vegas Operations
Schedule of Disaggregation of Revenues and Contract Liabilities [Line Items]
Casino	434,083	456,093	437,372
Occupancy	468,238	453,376	437,484
Food and Beverage	567,122	567,926	535,708
Entertainment Retail And Other	196,126	225,568	228,938
Revenues	$ 1,665,569	$ 1,702,963	$ 1,639,502

Revenue Schedule of Customer Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue Recognition [Abstract]
Casino outstanding chips and front money deposits	$ 905,561	$ 991,957	$ 546,487
Change in outstanding chips and front money deposits	(86,396)	445,470
Advanced room deposits and ticket sales	42,197	48,065	41,583
Change in advanced room deposits and ticket sales	(5,868)	6,482
Other gaming related liabilities	12,694	12,765	12,033
Change in other gaming related liabilities	(71)	732
Loyalty program liabilities	18,148	18,421	7,942
Change in loyalty program liabilities	(273)	10,479
Total customer contract liabilities	978,600	1,071,208	$ 608,045
Change in total customer contract liabilities	$ (92,608)	$ 463,163

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2015	May 16, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Payments to Employees	$ 1,800
Stock-based compensation expense	35,040	$ 43,971	$ 43,722
Stock based compensation costs	35,051	44,051	43,814
Stock-based compensation capitalized into construction	11	80	92
Tax benefit from compensation expense	5,700	10,800	10,400
Tax benefits (loss) realized from option exercises	$ 4,600	$ 25,400	$ 6,700
WRL 2002 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance	12,750,000
Share Award Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance				50,000,000
Aggregate amount of common stock available for grant	33,362,988
Unvested awards compensation not yet recognized	$ 12,700
Unvested awards compensation costs period of recognition	2 years 9 months 25 days
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance					4,409,390
Expiration period	10 years
Aggregate amount of common stock available for grant	3,041,051
Unrecognized compensation, stock options	$ 600
Unrecognized compensation cost, weighted average period	4 months 2 days
Unvested awards compensation not yet recognized	$ 49,600
Unvested awards compensation costs period of recognition	3 years 7 months 28 days
Stock options granted (in shares)	0	0
Expected dividend yield			2.00%
Expected volatility			45.40%
Risk-free interest rate			1.10%
Expected term (years)			6 years
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance	518,750,000
Aggregate amount of common stock available for grant	507,244,000
Unrecognized compensation, stock options	$ 3,400
Unrecognized compensation cost, weighted average period	4 years 3 months 19 days
Expected dividend yield	5.70%	5.70%	6.30%
Expected volatility	40.20%	41.50%	42.60%
Risk-free interest rate	2.30%	1.10%	1.00%
Expected term (years)	6 years 6 months	6 years 6 months	6 years 6 months
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 5,800
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Stock based compensation costs	$ 6,700	$ 23,700	$ 19,200

Stock-Based Compensation - Schedule of Option Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Options
Fully vested and expected to vest as of December 31, 2018				345,790
Weighted Average Exercise Price
Fully vested and expected to vest as of December 31, 2018				$ 60.99
Weighted Average Remaining Contractual Term
Fully vested and expected to vest as of December 31, 2018	1 year 2 months 30 days
Aggregate Intrinsic Value
Fully vested and expected to vest as of December 31, 2018				$ 14,796,122
Stock Option Exercises from the Plans [Abstract]
Cash received from the exercise of stock options	$ 21,971,000	$ 62,209,000	$ 3,487,000
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Options
Outstanding as of January 1, 2018	345,790	644,460		345,790
Granted	0
Exercised	(261,470)
Forfeited or expired	(37,200)
Outstanding as of December 31, 2018	345,790	644,460
Exercisable as of December 31, 2018				285,790
Weighted Average Exercise Price
Outstanding as of January 1, 2018	$ 73.93
Granted	0.00
Exercised	77.07
Forfeited or expired	172.07
Outstanding as of December 31, 2018	$ 60.99	$ 73.93
Exercisable as of December 31, 2018				$ 63.91
Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2018	1 year 2 months 30 days
Exercisable as of December 31, 2018	1 year 5 months 9 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2018				$ 14,796,122
Exercisable as of December 31, 2018				$ 11,688,722
Stock Option Exercises from the Plans [Abstract]
Weighted average grant date fair value	$ 0.00	$ 0.00	$ 34.90
Intrinsic value of stock options exercised	$ 22,387,000	$ 29,716,000	$ 3,657,000
Cash received from the exercise of stock options	$ 20,148,000	$ 61,506,000	$ 3,487,000
Share Option Plan
Options
Outstanding as of January 1, 2018	10,558,400	7,006,000		10,558,400
Granted	4,494,000
Exercised	(941,600)
Outstanding as of December 31, 2018	10,558,400	7,006,000
Fully vested and expected to vest as of December 31, 2018				10,558,400
Exercisable as of December 31, 2018				3,302,800
Weighted Average Exercise Price
Outstanding as of January 1, 2018	$ 2.32
Granted	2.65
Exercised	1.94
Outstanding as of December 31, 2018	$ 2.49	$ 2.32
Fully vested and expected to vest as of December 31, 2018				$ 2.49
Exercisable as of December 31, 2018				$ 2.72
Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2018	7 years 9 months 18 days
Fully vested and expected to vest as of December 31, 2018	7 years 9 months 18 days
Exercisable as of December 31, 2018	5 years 2 months 12 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2018				$ 1,403,732
Fully vested and expected to vest as of December 31, 2018				1,403,732
Exercisable as of December 31, 2018				$ 484,717
Stock Option Exercises from the Plans [Abstract]
Weighted average grant date fair value	$ 0.57	$ 0.56	$ 0.31
Intrinsic value of stock options exercised	$ 1,715,000	$ 369,000	$ 0
Cash received from the exercise of stock options	$ 1,823,000	$ 703,000	$ 0

Stock-Based Compensation - Schedule of Nonvested Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Shares:
Nonvested, beginning of period	460,584
Granted	288,270
Vested	(96,559)
Forfeited	(125,908)
Nonvested, end of period	526,387	460,584
Weighted Average Grant Date Fair Value:
Nonvested, beginning of period	$ 98.21
Granted	170.13	$ 109.28	$ 63.56
Vested	121.51
Forfeited	133.76
Nonvested, end of period	127.84	98.21
Weighted average grant date fair value	$ 170.13	$ 109.28	$ 63.56
Fair value of shares vested	$ 13,024	$ 45,801	$ 39,380
Share Award Plan
Shares:
Nonvested, beginning of period	11,842,707
Granted	3,256,630
Vested	(3,565,245)
Forfeited	(1,780,825)
Nonvested, end of period	9,753,267	11,842,707
Weighted Average Grant Date Fair Value:
Nonvested, beginning of period	$ 2.24
Granted	3.07	$ 2.22	$ 1.38
Vested	3.56
Forfeited	2.03
Nonvested, end of period	2.07	2.24
Weighted average grant date fair value	$ 3.07	$ 2.22	$ 1.38
Fair value of shares vested	$ 1,309	$ 6,884	$ 0

Stock-Based Compensation - Schedule of Allocated Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	$ 35,040,000	$ 43,971,000	$ 43,722,000
Stock-based compensation capitalized into construction	11,000	80,000	92,000
Stock based compensation costs	35,051,000	44,051,000	43,814,000
Casino
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	5,946,000	6,954,000	11,304,000
Rooms
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	437,000	655,000	374,000
Food and Beverage
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	1,125,000	1,466,000	1,060,000
Entertainment, retail and other
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	111,000	147,000	82,000
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	28,872,000	34,749,000	30,398,000
Pre-Open Costs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	750,000	0	504,000
Property charges and other
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	$ (2,201,000)	$ 0	$ 0

Stock-Based Compensation - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield			2.00%
Expected volatility			45.40%
Risk-free interest rate			1.10%
Expected term (years)			6 years
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	5.70%	5.70%	6.30%
Expected volatility	40.20%	41.50%	42.60%
Risk-free interest rate	2.30%	1.10%	1.00%
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, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2016 USD ($) $ / shares	Dec. 31, 2018 MOP (MOP$)
Income Taxes
Complementary tax rate	12.00%
Amount of complementary tax exemption		$ 96,800,000	$ 63,000,000	$ 27,300,000
Amount of complementary tax exemption per share \| $ / shares		$ 0.90	$ 0.61	$ 0.27
Annual complementary tax to be paid		$ 1,600,000	$ 1,600,000	$ 1,600,000	MOP$ 12.8
Provisional net tax benefit		390,900,000	339,900,000
Recognized foreign tax credit tax benefit net of valuation allowance		82,800,000	746,600,000	170,500,000
Increase (decrease) in valuation allowance for deferred tax assets		(746,600,000)	103,700,000
Tax benefits (loss) realized		2,000,000	2,600,000	800,000
FTC carryforwards expired		545,700,000
Foreign tax credit carryforwards		3,190,000,000
Disallowed interest carryforwards not subject to expiration		294,200,000
U.S. and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets		99,500,000	95,200,000	90,300,000
Uncertain tax positions, noncurrent		0	0	200,000
Unrecognized tax benefits that would impact the effective tax rate if recognized		31,000,000	26,900,000	22,600,000
Recognized interest and penalties			900,000	900,000
Decrease in unrecognized tax benefits due to expiration of the statute of limitations		4,692,000	3,807,000	3,721,000
Maximum
Income Taxes
Unrecognized tax benefit increase resulting in tax settlements		5,100,000
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		756,000,000
Tax Credit Carryforward Expiry In 2024
Income Taxes
Foreign tax credit carryforwards		710,700,000
Tax Credit Carryforward, Expires at 2025
Income Taxes
Foreign tax credit carryforwards		47,200,000
Tax Credit Carryforward, Expires at 2027
Income Taxes
Foreign tax credit carryforwards		492,400,000
Foreign Tax Credit
Income Taxes
Valuation allowance		2,490,000,000	3,270,000,000
Other Deferred Tax Asset
Income Taxes
Valuation allowance		5,300,000	3,500,000
Wynn Macau
Income Taxes
Decrease in unrecognized tax benefits due to expiration of the statute of limitations		$ 4,700,000	3,800,000	3,700,000
Foreign
Income Taxes
Gaming tax		35.00%
Tax loss carryforward		$ 340,000,000	319,100,000	$ 317,300,000
Valuation allowance		$ 143,872,000	117,175,000
U.S.
Income Taxes
Tax credit of "net" foreign source income		21.00%
Foreign tax credit carryforwards		$ 3,187,797,000	3,616,872,000
Tax loss carryforward		0
Valuation allowance		$ 2,500,027,000	$ 3,273,292,000
Retail Joint Venture
Income Taxes
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			49.90%

Income Taxes - Summary of Consolidated Income (Loss) Before Taxes For U.S. and Foreign Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
United States	$ (491,523)	$ 90,206	$ 90,900
Foreign	797,263	470,063	219,697
Total	$ 305,740	$ 560,269	$ 310,597

Income Taxes - Summary of (Benefit) Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal, Current	$ (637)	$ (19,856)	$ 60
Current State and Local Tax Expense (Benefit)	198	51	79
Foreign, Current	1,749	1,674	1,633
Current, Total	1,310	(18,131)	1,772
Federal, Deferred	(483,681)	(309,423)	5,081
State, Deferred	(14,973)	(1,431)	1,275
Deferred, Total	(498,654)	(310,854)	6,356
Income tax benefit (provision), total	$ (497,344)	$ (328,985)	$ 8,128

Income Taxes - Summary of Income Taxes (Federal Statutory Corporate Tax Rate) (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
U.S. Federal statutory rate	21.00%	35.00%	35.00%
Foreign tax credits, net of valuation allowance	(154.90%)	(136.10%)	(61.50%)
Non-taxable foreign income	(48.80%)	(20.10%)	(20.70%)
Foreign tax rate differential	(20.80%)	(17.00%)	(14.50%)
Global intangible low-taxed income	28.30%	0.00%	0.00%
Change in tax rate	0.00%	(11.80%)	0.00%
Repatriation of foreign earnings	0.00%	81.00%	51.60%
Valuation allowance, other	9.30%	5.90%	7.50%
Other, net	3.20%	4.40%	5.20%
Effective income tax rate	(162.70%)	(58.70%)	2.60%

Income Taxes - Summary of Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred Tax Assets And Liabilities
Foreign tax credit carryforwards	$ 3,190,000
Net deferred tax asset	736,452	$ 240,533
U.S.
Deferred Tax Assets And Liabilities
Foreign tax credit carryforwards	3,187,797	3,616,872
Disallowed interest expense carryforward	67,368	0
Construction in progress	42,528	5,009
Receivables, inventories, accrued liabilities and other	10,878	19,356
Stock-based compensation	5,477	5,084
Other tax credit carryforwards	4,946	1,999
Intangibles and related other	489	3,486
Other	2,279	86
Deferred Tax Assets, Gross	3,321,762	3,651,892
Less: valuation allowance	(2,500,027)	(3,273,292)
Deferred tax assets, net, total	821,735	378,600
Property and equipment	(70,560)	(111,988)
Redemption Note fair value	0	(13,139)
Prepaid insurance, maintenance and taxes	(12,430)	(10,391)
Other	(2,293)	(2,549)
Deferred Tax Liabilities, Gross, Noncurrent	(85,283)	(138,067)
Foreign
Deferred Tax Assets And Liabilities
Net operating loss carryforwards	94,244	74,345
Property and equipment	41,520	36,299
Pre-opening expenses	8,421	10,717
Other	651	1,493
Deferred Tax Assets, Gross	144,836	122,854
Less: valuation allowance	(143,872)	(117,175)
Property and equipment	(964)	(5,679)
Deferred tax assets, net, non current	$ 964	$ 5,679

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance-beginning of year	$ 95,236	$ 90,523	$ 88,314
Increases based on tax positions of the current year	8,926	8,520	5,930
Reductions due to lapse in statutes of limitations	(4,692)	(3,807)	(3,721)
Balance-end of year	$ 99,470	$ 95,236	$ 90,523

Related Party Transactions - Additional Information (Detail) - USD ($)		12 Months Ended
	Mar. 20, 2018	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction
Amount due to officers and directors			$ 400,000
Chief Operating Officer
Related Party Transaction
Purchase of home for director		$ 10,000,000
Number of percentage points used to determine discount on home purchase		10.00%
Consideration in event of employee agreement termination		$ 1
Registration Rights Agreement \| Former Board of Directors Chairman and Chief Executive Officer
Related Party Transaction
Maximum shares of common stock permitted to sell (in shares)	4,043,903

Retail Joint Venture Retail Joint Venture Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) ft²	Dec. 31, 2018 USD ($) ft²	Dec. 31, 2016 USD ($)
Variable Interest Entity [Line Items]
Net book value of assets and liabilities transferred to Retail Joint Venture		$ 31,800
Proceeds from Real Estate and Real Estate Joint Ventures	$ 180,000	217,000
Due from Joint Ventures, Noncurrent		75,000
Total assets		12,681,739	$ 13,216,269	$ 11,953,557
Total liabilities		11,603,389	11,401,480
Long-term Debt		9,628,626	9,423,100
Prepaid Expenses and Other Current Assets [Member]
Variable Interest Entity [Line Items]
Due from Joint Ventures, Noncurrent			$ 75,000
Other Noncurrent Assets [Member]
Variable Interest Entity [Line Items]
Due from Joint Ventures, Noncurrent		$ 72,500
Retail Joint Venture
Variable Interest Entity [Line Items]
Functional Area Square Footage \| ft²			88,000
Functional area square footage under construction \| ft²			74,000
Contribution of Property	$ 25,400
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49.90%
Noncontrolling Interest in Joint Ventures		$ 292,000
Ownership Percentage			50.10%
Total assets		59,700	$ 85,000
Total liabilities		$ 900	619,600
Retail \| Wynn Retail
Variable Interest Entity [Line Items]
Functional Area Square Footage \| ft²		88,000
Retail \| Retail Joint Venture
Variable Interest Entity [Line Items]
Long-term Debt			$ 611,100

Commitments and Contingencies - Additional Information (Detail)					1 Months Ended	12 Months Ended
	Feb. 26, 2019 USD ($)	Sep. 17, 2018 USD ($)	Mar. 30, 2018 USD ($)	Feb. 18, 2012 USD ($) shares	Feb. 18, 2012 USD ($) shares	Dec. 31, 2018 USD ($) ft² Room	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Apr. 28, 2017 USD ($)	Jun. 19, 2012
Commitments and Contingencies
Contingent rentals						$ 53,800,000	$ 38,600,000	$ 34,600,000
Rent expenses						27,100,000	18,300,000	17,900,000
2019						168,646,000
2020						80,548,000
2021						56,393,000
2022						27,088,000
2023						4,980,000
Common stock redeemed, shares \| shares					24,549,222
Litigation settlement			$ 463,600,000			$ 463,557,000	$ 0	$ 0
Released accrued interest held in escrow			$ 232,400,000
Damages sought		$ 1,000,000,000
4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Commitments and Contingencies
Debt instrument, interest rate										4.25%
Wynn MA, LLC
Commitments and Contingencies
Guaranteed maximum construction price									$ 1,320,000,000.00
Wynn Las Vegas
Commitments and Contingencies
Number of rooms in hotel \| Room						4,748
Wynn Palace
Commitments and Contingencies
Number of rooms in hotel \| Room						1,706
Aruze USA, Inc.
Commitments and Contingencies
Common stock redeemed, shares \| shares				24,549,222
Redemption price promissory note, principal amount				$ 1,940,000,000	$ 1,940,000,000
Minimum
Commitments and Contingencies
Term of employment agreement						3 years
Maximum
Commitments and Contingencies
Term of employment agreement						5 years
Employment Contracts
Commitments and Contingencies
2019						$ 72,900,000
2020						49,000,000
2021						19,100,000
2022						2,900,000
2023						500,000
Community payments associated with Encore Boston Harbor
Commitments and Contingencies
Community Payments						10,600,000
Construction Performance Bond \| Wynn MA, LLC
Commitments and Contingencies
Performance Bond									$ 350,000,000
Wynn America Credit Facilities \| Wynn America \| Revolving Credit Facility
Commitments and Contingencies
Letter of credit outstanding						17,700,000
Meeting and Convention Space \| Wynn Las Vegas
Commitments and Contingencies
Guaranteed maximum construction price						$ 286,800,000.0
Functional area square footage under construction \| ft²						430,000
Subsequent Event \| Nevada Gaming Control Board Fine
Commitments and Contingencies
Amount of fine for approved Stipulation and Settlement	$ 20,000,000

Commitments and Contingencies - Future Minimum Rentals Received Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 132,249
2020	130,731
2021	69,272
2022	48,024
2023	29,784
Thereafter	79,868
Total	$ 489,928

Commitments and Contingencies - Future Minimum Rental Payable Under Non-cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Operating Leases
2019	$ 29,126
2020	20,153
2021	17,226
2022	16,466
2023	15,868
Thereafter	464,838
Total	563,677
Capital Leases
2019	989
2020	989
2021	989
2022	989
2023	989
Thereafter	66,743
Total minimum lease payments	71,688
Less: Amount representing interest	(55,140)
Total capital lease net minimum payments	$ 16,548

Commitments and Contingencies Commitments and Contingencies - Other Commitments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 168,646
2020	80,548
2021	56,393
2022	27,088
2023	4,980
Thereafter	0
Total	$ 337,655

Segment Information - Summary of Results of Operations by Segment (Detail)		12 Months Ended
	Mar. 30, 2018 USD ($)	Dec. 31, 2018 USD ($) segment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Segment Reporting Information
Number of Reportable Segments \| segment		1
Operating revenues		$ 6,717,660,000	$ 6,070,160,000	$ 4,345,797,000
Adjusted Property EBITDA		2,044,413,000	1,810,732,000	1,259,327,000
Litigation settlement	$ 463,600,000	463,557,000	0	0
Other operating expenses
Pre-opening		53,490,000	26,692,000	154,717,000
Depreciation and amortization		550,596,000	552,368,000	404,730,000
Property charges and other		60,256,000	29,576,000	54,822,000
Corporate expenses and other		144,479,000	102,560,000	80,178,000
Stock-based compensation (2)		36,491,000	43,971,000	43,218,000
Total other operating expenses		1,308,869,000	755,167,000	737,665,000
Operating income		735,544,000	1,055,565,000	521,662,000
Other non-operating income and expenses
Interest income		29,866,000	31,193,000	13,536,000
Interest expense, net of amounts capitalized		(381,849,000)	(388,664,000)	(289,365,000)
Change in derivatives fair value		(4,520,000)	(1,056,000)	433,000
Change in Redemption Note fair value		(69,331,000)	(59,700,000)	65,043,000
Gain (loss) on extinguishment of debt		104,000	(55,360,000)	0
Other		(4,074,000)	(21,709,000)	(712,000)
Other income (expense), net		(429,804,000)	(495,296,000)	(211,065,000)
Income before income taxes		305,740,000	560,269,000	310,597,000
Benefit (provision) for income taxes		497,344,000	328,985,000	(8,128,000)
Net income		803,084,000	889,254,000	302,469,000
Net income attributable to noncontrolling interest		230,654,000	142,073,000	60,494,000
Net income attributable to Wynn Resorts, Limited		572,430,000	747,181,000	241,975,000
Excluded amounts		35,040,000	43,971,000	43,722,000
Pre-Opening Expenses
Other non-operating income and expenses
Excluded amounts		750,000	0	504,000
Property Charges and Other
Other non-operating income and expenses
Excluded amounts		(2,201,000)	0	0
Macau Operations
Segment Reporting Information
Operating revenues		5,052,091,000	4,367,197,000	2,706,295,000
Adjusted Property EBITDA		1,577,140,000	1,288,335,000	784,545,000
Las Vegas Operations
Segment Reporting Information
Operating revenues		1,665,569,000	1,702,963,000	1,639,502,000
Adjusted Property EBITDA		467,273,000	522,397,000	474,782,000
Wynn Palace \| Macau Operations
Segment Reporting Information
Operating revenues		2,757,566,000	2,030,287,000	555,574,000
Adjusted Property EBITDA		843,902,000	527,583,000	103,036,000
Wynn Macau \| Macau Operations
Segment Reporting Information
Operating revenues		2,294,525,000	2,336,910,000	2,150,721,000
Adjusted Property EBITDA		$ 733,238,000	$ 760,752,000	$ 681,509,000

Segment Information Segment Information - Schedule of Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	$ 1,475,972	$ 935,474	$ 1,225,943
Las Vegas Operations
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	73,029	139,893	106,373
Encore Boston Harbor
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	791,250	572,825	212,197
Corporate and Other
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	459,534	71,841	25,554
Macau
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	152,159	150,915	881,819
Macau \| Macau Operations
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	62,542	43,510	43,548
Macau \| Wynn Palace
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	$ 89,617	$ 107,405	$ 838,271

Segment Information - Summary of Assets by Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information
Assets	$ 13,216,269	$ 12,681,739	$ 11,953,557
Long-lived assets	9,553,588	8,697,505	8,416,696
Las Vegas Operations
Segment Reporting Information
Assets	2,792,508	3,266,390	3,275,780
Encore Boston Harbor
Segment Reporting Information
Assets	1,865,286	1,060,530	419,001
Corporate and Other
Segment Reporting Information
Assets	2,727,163	2,891,012	2,750,721
Macau
Segment Reporting Information
Assets	5,831,312	5,463,807	5,508,055
Long-lived assets	4,387,051	4,613,950	4,973,854
Macau \| Macau Operations
Segment Reporting Information
Assets	1,903,921	1,271,544	1,161,670
Macau \| Wynn Palace
Segment Reporting Information
Assets	3,858,904	4,017,494	4,317,458
Macau \| Other Macau
Segment Reporting Information
Assets	68,487	174,769	28,927
United States
Segment Reporting Information
Long-lived assets	$ 5,166,537	$ 4,083,555	$ 3,442,842

Schedule II- Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 30,600	$ 54,742	$ 67,057
Provisions for Doubtful Accounts	6,527	(6,711)	8,203
Write-offs, Net of Recoveries	(4,433)	(17,431)	(20,518)
Ending balance	32,694	30,600	54,742
Valuation Allowance of Deferred Tax Assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	3,390,467	3,286,723	3,330,878
Provisions for Doubtful Accounts	201,282	112,543	32,130
Write-offs, Net of Recoveries	(947,850)	(8,799)	(76,285)
Ending balance	$ 2,643,899	$ 3,390,467	$ 3,286,723

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Tax expense on sale of ownership interest in subsidiary	$ 17,800	$ 49,800

Long-Term Debt Long-Term Debt - Cross Claim and Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Fair value of debt instrument excluding the Redemption Note	$ 8,970	$ 7,950
Long-term debt excluding the Redemption Note	$ 9,540	$ 7,850

Consolidated Statements of Comprehensive Income (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Statement of Comprehensive Income [Abstract]
Tax on Redemption Note credit risk adjustment	$ 2,735

Commitments and Contingencies Commitment and Contingencies - Capital Leases (Details) $ in Millions	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capital Leased Assets, Gross	$ 16.5

Label	Element	Value
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 2,807,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,696,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	9,211,000
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 111,000