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): August 1, 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 of   (Commission File Number)  (I.R.S. Employer
        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 2.02 Results of Operations and Financial Condition. On August 1, 2005, Wynn Resorts, Limited issued a press release announcing its results of operations for the second quarter of 2005. The press release is furnished herewith as Exhibit 99.1. The information in this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. Item 7.01. Regulation FD Disclosure. The information set forth under Item 2.02 of this report is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. (c) Exhibits: Exhibit Number Description ------ ----------- 99.1 Press release, dated August 1, 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: August 2, 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: August 2, 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


             Wynn Resorts, Limited Reports Second Quarter Results

LAS VEGAS, August 1, 2005 (BUSINESS WIRE) -- Wynn Resorts, Limited (Nasdaq:
WYNN) today reported financial results for the second quarter ended June 30,
2005. Second quarter results include Wynn Las Vegas' first 64 days of
operations.

Adjusted earnings (excluding $43.4 million in pre-opening expenses for Wynn
Las Vegas, Wynn Macau, and Encore) were $8.2 million, or $0.08 per diluted
share (Adjusted EPS) (1). On a US GAAP (Generally Accepted Accounting
Principles) basis, net loss was $35.2 million, or a net loss of $0.36 per
diluted share.

Wynn Las Vegas

On June 2, 2005, Wynn Resorts reported operating results for Wynn Las Vegas'
first 34 days of operations. The property continued to perform strongly
throughout June. For the first 64 days of operations, Wynn Las Vegas generated
Net Revenues of $201.1 million.

Net gaming revenues for the period were $98.7 million. The slot segment
produced net revenues of $34.2 million, with win per unit per day of $273. The
table games segment generated net revenues of $62.0 million, representing win
per table per day of $7,117 for the period. Table games win percentage was
21.1% (before discounts), which is within the property's expected range of 18
to 22%.

Since opening on April 28, 2005, Wynn Las Vegas' average daily rate (ADR) per
room was $284 and occupancy of available guestrooms was 90.1%, generating
revenue per available room (REVPAR) of $255 for the period. Gross non-gaming
revenues for the period were $127.3 million and net non-gaming revenues were
$102.4 million. The food and beverage, retail and entertainment operations
generated gross revenues of $48.1 million, $16.9 million and $9.6
respectively.

Wynn Las Vegas generated adjusted EBITDA (2) of $58.7 million during the
quarter, representing a 29.2% margin on net revenues. The adjusted EBITDA
margin reflects high staffing levels and other costs related to the opening of
Wynn Las Vegas. Wynn Las Vegas' pre-opening costs during the quarter were
$36.9 million, including expenses associated with hiring and training
employees, marketing expenses, and various other costs incurred prior to the
property's opening on April 28, 2005. The pre-opening costs associated with
the opening of Wynn Las Vegas are included in the $2.7-$2.75 billion project
budget.

Steve Wynn, Chairman and Chief Executive Officer of Wynn Resorts commented,
"The initial response from customers and employees has been very gratifying.
In our first two months of operations, we achieved outstanding revenue numbers
in various departments including slots, tables and retail. We deliberately and
substantially overstaffed in order to offset our expected initial
disadvantages in productivity: we had more than 9,000 employees working with
approximately 58 newly integrated operating systems. In the upcoming months,
our main focus will be on raising margins through increased operational
efficiencies."

Wynn Macau

The Company broke ground for Wynn Macau in June 2004 and expects to open to
the public in September 2006. Construction of Wynn Macau is progressing on
schedule and within budget. Detailed interior design work continues, with the
majority of architectural and structural design work now complete.
Superstructure works are well underway with the hotel tower reaching the 23rd
floor level. As of June 30, 2005, the Company had funded approximately $205.7
million of project costs and estimates that approximately $498.3 million will
be spent to complete Wynn Macau.

Plans are also underway for a $345.0 million expansion. The Company expects
construction of the expansion to commence in the third quarter of 2005, with
completion slated for the first half of 2007. An increase in Wynn Macau's
credit facilities to fund the development and construction of the expansion is
expected to close in the third quarter of 2005.

Other Factors Affecting Earnings

Interest expense net of $10.5 million in capitalized interest was $26.3
million for the second quarter of 2005. Depreciation and amortization expenses
were $26.1 million and pre-opening expenses totaled $43.4 million during the
quarter, of which $4.1 million were related to Wynn Macau. Corporate expense
in the quarter was $5.0 million.

Balance Sheet and Capital Expenditures

Unrestricted cash balances at June 30, 2005 were $485.8 million, while
restricted cash balances were $592.0 million. Total debt outstanding at the
end of the quarter was $2.0 billion, of which $250 million is our Convertible
Debentures. Capital expenditures during the second quarter of 2005 totaled
$268.2 million.

Forward-looking Statements

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, competition in the casino/hotel
and resorts industry, the Company's brief operating history, the Company's
dependence on existing management, levels of travel, leisure and casino
spending, general domestic or international economic conditions, and changes
in gaming laws or regulations. Additional information concerning potential
factors that could affect the Company's financial results are included in the
Company's Annual Report on 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.

Non-GAAP financial measures

     (1)  Adjusted earnings (and Adjusted EPS) is presented exclusively as a
          supplemental disclosure because management believes that it is
          widely used to measure performance of, and a principal basis for
          valuation of gaming companies. This measure is considered by many to
          be a better indicator on which to base expectations of future
          results than income computed in accordance with generally accepted
          accounting principles ("GAAP"). Reconciliations of net loss and net
          loss per share to adjusted earnings and adjusted EPS per share are
          included in the financial schedules accompanying this release.

     (2)  Adjusted EBITDA is earnings before interest, taxes, depreciation,
          amortization, pre-opening and corporate expenses, losses on sales of
          assets, losses from incidental operations, and other non operating
          income and expenses. Management uses adjusted EBITDA as the primary
          measure of the operating performance of Wynn Las Vegas and Wynn
          Macau, and to compare the operating performance of its properties
          with those of its competitors.


This information should not be considered as an alternative to any measure of
performance as promulgated under accounting principles generally accepted in
the United States, such as operating income, net income, or net cash provided
by operating activities.

Wynn Resorts, Limited's calculation of adjusted earnings, adjusted EPS and
adjusted EBITDA may be different from the calculation methods used by other
companies and, therefore, comparability may be limited. The company has
included schedules in the tables that accompany this release that: (1)
reconcile EBITDA to operating income and net income; and (2) reconcile net
income to adjusted net income.





                                             WYNN RESORTS, LIMITED AND SUBSIDIARIES
                                         CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                          (amounts in thousands, except per share data)
                                                           (unaudited)


                                                         Three Months Ended                       Six Months Ended
                                                              June 30,                                June 30,
                                                 -------------------------------------  ---------------------------------------
                                                     2005                 2004                2005                 2004
                                                 ----------------   ------------------  ------------------  -------------------

                                                                                                

Operating revenues:
     Casino.....................................   $  98,715        $       -           $  98,715           $        -
     Rooms......................................       44,632               -              44,632                    -
     Food and beverage..........................       48,056               -              48,056                    -
     Entertainment, retail and other............       34,651              59              34,659                  194
                                                 ----------------   ------------------  ------------------  -------------------
       Gross revenues...........................      226,054              59             226,062                  194
     Less promotional allowances................      (24,934)              -             (24,934)                   -
                                                 ----------------   ------------------  ------------------  -------------------
       Net revenues.............................      201,120              59             201,128                  194

Operating costs and expenses:
     Casino.....................................       42,280               -              42,280                    -
     Rooms......................................       11,780               -              11,780                    -
     Food and beverage..........................       33,706               -              33,706                    -
     Entertainment, retail and other............       20,262             143              20,266                  368
     General and administrative.................       31,010               -              31,014                    -
     Provision for doubtful accounts............        8,599               -               8,599                    -
     Pre-opening costs..........................       43,365          16,466              81,469               31,016
     Depreciation and amortization..............       26,125           1,042              29,619                1,824
     Loss on sale of assets.....................           16             520                   5                  512
     Loss from incidental operations............           32               -                 105                    -
                                                 ----------------   ------------------  ------------------  -------------------
       Total operating costs and expenses.......      217,175          18,171             258,843               33,720

Equity in income from unconsolidated affiliates           251               -                 251                    -
                                                 ----------------   ------------------  ------------------  -------------------
Operating loss..................................      (15,804)        (18,112)            (57,464)             (33,526)
                                                 ----------------   ------------------  ------------------  -------------------

Other income/(expense):
     Interest income............................        6,983           1,511              13,165                3,130
     Interest expense, net......................      (26,341)            (94)            (28,490)                (197)
     Loss on early extinguishment of debt.......            -         (25,628)                  -              (25,628)
                                                 ----------------   ------------------  ------------------  -------------------
       Other income (expense), net..............      (19,358)        (24,211)            (15,325)             (22,695)
                                                 ----------------   ------------------  ------------------  -------------------

Minority interest...............................            -             404                   -                1,054
                                                 ----------------   ------------------  ------------------  -------------------

Net loss........................................      (35,162)        (41,919)            (72,789)             (55,167)

Change in fair value of interest rate swaps.....       (5,814)         18,190               1,887                6,286
                                                 ----------------   ------------------  ------------------  -------------------
Comprehensive loss..............................   $  (40,976)      $ (23,729)          $ (70,902)          $  (48,881)
                                                 ================   ==================  ==================  ===================

Basic and diluted earnings per
   common share:
     Net loss:
       Basic....................................   $   (0.36)       $   (0.49)          $   (0.74)          $    (0.67)
       Diluted..................................   $   (0.36)       $   (0.49)          $   (0.74)          $    (0.67)
   Weighted average common
     shares outstanding:
       Basic.....................................     98,203           84,687              98,132               82,764
       Diluted...................................     98,203           84,687              98,132               82,764



WYNN RESORTS, LIMITED AND SUBSIDIARIES RECONCILIATION OF NET LOSS AND NET LOSS PER SHARE TO ADJUSTED EARNINGS AND ADJUSTED EARNINGS PER SHARE (Unaudited) Three Months Ended Six Months Ended June 30, June 30, --------------------------------- ----------------------------------- 2005 2004 2005 2004 --------------- ---------------- --------------- ------------------ Net loss............................... $ (35,162) $ (41,919) $ (72,789) $ (55,167) Pre-opening costs...................... 43,365 16,466 81,469 31,016 Adjusted net income 8,203 (25,453) 8,680 (24,151) Per diluted share of common stock: Net loss............................... $ (0.36) $ (0.49) $ (0.74) $ (0.67) Pre-opening expenses 0.44 0.19 0.83 0.37 Adjusted net income 0.08 (0.30) 0.09 (0.29) Weighted average common shares outstanding: Net loss Basic................................. 98,203 84,687 98,132 82,764 Diluted............................... 98,203 84,687 98,132 82,764 Adjusted net income Basic................................. 98,203 84,687 98,132 82,764 Diluted............................... 101,705 84,687 101,634 82,764 WYNN RESORTS, LIMITED AND SUBSIDIARIES RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (In thousands, except per share data) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, ---------------------------------- --------------------------------- 2005 2004 2005 2004 ------------- ------------------ ------------------ ------------- Net loss $ (35,162) $ (41,919) $ (72,789) $ (55,167) Add/(Deduct): Minority interest - (404) - (1,054) Interest income (6,983) (1,511) (13,165) (3,130) Interest expense, net 26,341 94 28,490 197 Loss on early extinguishment of debt - 25,628 - 25,628 ------------- -------------- ------------------ ------------------ Total 19,358 24,211 15,325 22,695 ------------- -------------- ------------------ ------------------ Operating loss (15,804) (18,112) (57,464) (33,526) Add/(Deduct): Preopening expenses: Wynn Las Vegas 36,900 8,756 65,137 15,877 Wynn Macau 4,124 2,254 6,598 4,532 Corporate and other 2,341 5,456 9,734 10,608 Depreciation and amortization: Wynn Las Vegas 23,376 285 24,260 443 Wynn Macau 1,469 140 2,934 140 Corporate and other 1,280 617 2,425 1,241 Corporate expenses and other 5,049 602 5,111 683 ------------- -------------- ------------------ ------------------ Total 74,539 18,110 116,199 33,524 ------------- -------------- ------------------ ------------------ Wynn Las Vegas adjusted EBITDA (1) $ 58,735 $ (2) $ 58,735 $ (2) ============= ============== ================== ==================

WYNN RESORTS, LIMITED AND SUBSIDIARIES SUPPLEMENTAL DATA SCHEDULE Three Months Ended June 30, 2005(1) ------------------ Room Statistics for Wynn Las Vegas: Occupancy % 90.1% Average Daily Room Rate (ADR)(2) $284 Average Paying Rate (APR)(3) $267 Revenue per available room (REVPAR)(4) $255 Other information: Table games win per unit per day(5) $7,117 Table Hold % 21.1% Slot Machine win per unit per day(6) $273 Average number of table games 136 Average number of slot machines 1,960 (1) Reflects the period from April 28, 2005 to June 30, 2005. (2) ADR is Average Daily Rate and is calculated by dividing total room revenue by total rooms occupied. (3) APR is Average Paying Rate and is calculated by dividing cash room revenue by cash rooms occupied. (4) REVPAR is Revenue per Available Room and is calculated by dividing total room revenue by total rooms available. (5) Table games win per unit per day net of customer discounts. (6) Slot machine win per unit per day shown net of participation fees, free play and progressive accruals. SOURCE: Wynn Resorts, Limited CONTACT: Samanta Stewart, 702-770-7555 investorrelations@wynnresorts.com www.wynnresorts.com www.wynnlasvegas.com