Wynn Resorts Completes Common Stock Offering

12 May 2004

LAS VEGAS -- (PRESS RELEASE) -- Wynn Resorts, Limited (Nasdaq:WYNN) announced the completion of an underwritten public offering of 7,000,000 shares of its common stock at a price of $38.75 per share. The net proceeds to Wynn Resorts, after deducting discounts and commissions and estimated expenses, were approximately $267.9 million.

Deutsche Bank Securities Inc. acted as sole book-running manager of the offering. J.P. Morgan Securities Inc., Banc of America Securities LLC and Bear, Stearns & Co. Inc. acted as co-managers.

Wynn Resorts intends to use a portion of the proceeds from the offering to redeem a portion of the outstanding 12% Second Mortgage Notes due 2010 of Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. Wynn Resorts intends to use the remaining net proceeds from this offering to help finance the first casino resort to be developed in Macau Special Administrative Region of the People's Republic of China by its subsidiary Wynn Resorts (Macau), S.A., and for general corporate purposes, including possibly financing potential future acquisitions or other investments.

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	Wynn Resorts Completes Common Stock Offering 12 May 2004 LAS VEGAS -- (PRESS RELEASE) -- Wynn Resorts, Limited (Nasdaq:WYNN) announced the completion of an underwritten public offering of 7,000,000 shares of its common stock at a price of $38.75 per share. The net proceeds to Wynn Resorts, after deducting discounts and commissions and estimated expenses, were approximately $267.9 million. Deutsche Bank Securities Inc. acted as sole book-running manager of the offering. J.P. Morgan Securities Inc., Banc of America Securities LLC and Bear, Stearns & Co. Inc. acted as co-managers. Wynn Resorts intends to use a portion of the proceeds from the offering to redeem a portion of the outstanding 12% Second Mortgage Notes due 2010 of Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. Wynn Resorts intends to use the remaining net proceeds from this offering to help finance the first casino resort to be developed in Macau Special Administrative Region of the People's Republic of China by its subsidiary Wynn Resorts (Macau), S.A., and for general corporate purposes, including possibly financing potential future acquisitions or other investments.