Wynn Registers 1.3 Million Shares

2 Sep 2004

LAS VEGAS -- Wynn Resorts Ltd. registered 1.3 million shares of common stock with the Securities and Exchange Commission on Wednesday in order to buy out the minority partners in the company's Macau subsidiary.

The subsidiary is building a $700 million hotel-casino in the former Portuguese colony, a Wynn Resorts spokeswoman said.

The $51.4 million in shares will not be issued until the registration has been deemed effective by the SEC, she said.

The shareholders affected -- Classic Wave Ltd., (141,666 shares), L'Arc de Triomphe Ltd. (141,667 shares), S.H.W. & Co. Ltd. (1 million shares) and SKKG Ltd. (50,000 shares) -- control about 20 percent of the voting rights in the Wynn subsidiary.

The newly registered shares, once they are deemed effective by the SEC and issued, will give the holding company 100 percent control of its Macau subsidiary, the spokeswoman said.

The company declined further comment.

Shares of Wynn Resorts closed at $38.76, up 16 cents, or 0.41 percent, Wednesday in trading on the Nasdaq.

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	Wynn Registers 1.3 Million Shares 2 Sep 2004 LAS VEGAS -- Wynn Resorts Ltd. registered 1.3 million shares of common stock with the Securities and Exchange Commission on Wednesday in order to buy out the minority partners in the company's Macau subsidiary. The subsidiary is building a $700 million hotel-casino in the former Portuguese colony, a Wynn Resorts spokeswoman said. The $51.4 million in shares will not be issued until the registration has been deemed effective by the SEC, she said. The shareholders affected -- Classic Wave Ltd., (141,666 shares), L'Arc de Triomphe Ltd. (141,667 shares), S.H.W. & Co. Ltd. (1 million shares) and SKKG Ltd. (50,000 shares) -- control about 20 percent of the voting rights in the Wynn subsidiary. The newly registered shares, once they are deemed effective by the SEC and issued, will give the holding company 100 percent control of its Macau subsidiary, the spokeswoman said. The company declined further comment. Shares of Wynn Resorts closed at $38.76, up 16 cents, or 0.41 percent, Wednesday in trading on the Nasdaq. Copyright GamingWire. All rights reserved.