UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
_____________________
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 2, 2005
Wynn Resorts, Limited
(Exact Name of Registrant as Specified in its Charter)
Nevada 000-50028 46-0484987
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
3131 Las Vegas Boulevard South
Las Vegas, Nevada 89109
(Address of Principal Executive Offices) (Zip Code)
(702) 770-7555
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written communication pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencements communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On June 2, 2005, the Registrant issued a press release announcing operating
data for the Wynn Las Vegas casino resort for the period from its opening on
April 28, 2005 through May 31, 2005. The press release is filed herewith as
Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits:
Exhibit
Number Description
------ -----------
99.1 Press release, dated June 2, 2005, of Wynn
Resorts, Limited.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: June 2, 2005
Wynn Resorts, Limited
By: /s/ John Strzemp
-------------------------------
John Strzemp
Chief Financial Officer
Exhibit 99.1
Wynn Resorts Announces Operating Data through May 31, 2005
LAS VEGAS, June 2nd , 2005 (BUSINESS WIRE) -- Wynn Resorts, Limited (Nasdaq:
WYNN) today released operating data for Wynn Las Vegas through May 31, 2005,
representing the property's first 34 days of operations. The initial reaction
from customers has been overwhelmingly positive and revenue levels have
exceeded our expectations.
Wynn Las Vegas net gaming revenues for the first 34 days of operations were
$64.3 million. The slot segment produced total net revenues of $20.2 million,
with a win per unit per day of $304. The table games segment generated net
revenues of $42.7 million, representing win per table per day of $9,244 in the
period.
Since our opening on April 28th, 2005, Wynn Las Vegas average daily room rate
was $308 with occupancy averaging 91% as we strategically increased room
availability to 100%. Gross non-gaming revenues for the 34 days, which include
$15.4 million of complimentary revenues, were in excess of $76.6 million, as
hotel, retail, food and beverage and other departments surpassed our estimates.
"We are delighted with our first full month of operations, but we are reminded
that opening a resort of this caliber and this scope is a daunting challenge.
As the weeks progress and our opening and startup challenges are met one at a
time, operating efficiencies will emerge. This process is far from over and
will take several months. The early results should be measured accordingly,"
commented Steve Wynn, Chairman and Chief Executive Officer of Wynn Resorts,
Limited.
This release contains forward-looking statements regarding operating trends and
future results of operations. Such forward-looking information involves
important risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by us. The risks and
uncertainties include, but are not limited to, the Company's lack of operating
history and the Company's dependence on existing management. Additional
information concerning potential factors that could affect the Company's
financial results are included in the Company's Form 10-K for the year ended
December 31, 2004 and the Company's other periodic reports filed with the
Securities and Exchange Commission. The Company is under no obligation to (and
expressly disclaims any such obligation to) update its forward-looking
statements as a result of new information, future events or otherwise.
Wynn Resorts is traded on the Nasdaq stock exchange under the ticker symbol
"WYNN" and, since December 2004, it has been part of the NASDAQ-100 Index. Wynn
Las Vegas, a luxury hotel and destination casino resort located on the Las
Vegas Strip, opened to the public on April 28, 2005. Wynn Las Vegas features
2,716 luxurious guest rooms and suites; an 111,000 square foot casino; 22 food
and beverage outlets; an on-site 18-hole golf course; approximately 223,000
square feet of meeting space; an on-site Ferrari and Maserati dealership; and
approximately 76,000 square feet of retail space. For more information, visit
www.wynnlasvegas.com.
SOURCE: Wynn Resorts, Limited
Wynn Resorts, Limited, Las Vegas
Samanta Hegedus Stewart, 702-770-7555
investorrelations@wynnresorts.com