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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 21, 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.)
WYNN LAS VEGAS, LLC
(Exact name of registrant as specified in its charter)
Nevada 333-98369 88-0494878
(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 of each registrant) (Zip Code)
(702) 770-7555
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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 21, 2005, Wynn Las Vegas, LLC ("Wynn Las Vegas") received the requisite
consents from its lenders to amend its credit agreement, dated December 14,
2004 (the "Credit Agreement"), and its master disbursement agreement, dated
December 14, 2004 (the "Disbursement Agreement"). The press release of Wynn
Resorts, Limited, dated June 21, 2005, is filed herewith as Exhibit 99.1 and
incorporated herein by reference. The proposed amendment to the Credit
Agreement would extend the deadline for approval of the Encore at Wynn Las
Vegas project ("Encore") from June 30, 2005 to December 31, 2005 (subject to
further extension to March 31, 2006 if approved by a Majority of the Arrangers
(as defined in the Credit Agreement) or the Required Lenders (as defined in the
Credit Agreement)). The proposed amendments to the Disbursement Agreement would
effect a similar extension of the deadline for approval of Encore, and would
make explicit the ability of the Required Lenders to extend the outside dates
for opening and completion of Encore.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits:
Exhibit
Number Description
------ -----------
99.1 Press release, dated June 21, 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 21, 2005
Wynn Resorts, Limited
By: /s/ John Strzemp
------------------------------
John Strzemp
Chief Financial Officer
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 21, 2005
WYNN LAS VEGAS, LLC
By: Wynn Resorts Holdings, LLC, its
sole member
By: Wynn Resorts, Limited, its sole
member
By: /s/ John Strzemp
------------------------------
John Strzemp
Chief Financial Officer
Exhibit 99.1
FOR IMMEDIATE RELEASE
Wynn Resorts, Limited Announces Approval of Amendment to Credit Agreement
LAS VEGAS, NEVADA (June 21, 2005) - Wynn Resorts, Limited announced
today that its wholly owned subsidiary, Wynn Las Vegas, LLC ("Wynn Las Vegas"),
has received unanimous approval from its lenders to amend its credit agreement.
The proposed amendment will extend the deadline for approval of the Encore at
Wynn Las Vegas project ("Encore") from June 30, 2005 to December 31, 2005. The
credit agreement amendment is conditioned on the approval of similar amendments
to the indenture relating to the 6-5/8% First Mortgage Notes due 2014 issued by
Wynn Las Vegas and Wynn Las Vegas Capital Corp. (the "Issuers").
The Issuers have undertaken a consent solicitation to amend the
indenture relating to their 6-5/8% First Mortgage Notes due 2014 (the "Notes"),
including: (i) an extension of the deadline for approval of the budget and the
plans and specifications for Encore from June 30, 2005 to December 31, 2005,
and (ii) an extension of the outside date for completion of Encore from March
31, 2008 to December 31, 2008. The consent solicitation is scheduled to expire
on June 24, 2005.
Due to demand for Wynn Las Vegas, continued strength in the Las Vegas
market, and the desire to maximize the potential of their real estate assets,
the Issuers continue to enlarge and refine the scope of Encore, which has been
elevated to the status of a free standing casino resort that will be fully
integrated with Wynn Las Vegas. The primary purpose of the proposed amendments
is to give the Issuers additional time to finalize the scope of Encore.
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 approximately 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.
CONTACT:
Wynn Resorts, Limited
Samanta Stewart, 702-770-7555
investorrelations@wynnresorts.com
SOURCE: Wynn Resorts, Limited