Wynn Resorts Launched Registered Exchange Offer

LAS VEGAS -- (PRESS RELEASE) -- Wynn Resorts, Limited announced today that two of its wholly owned subsidiaries, Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (together, the "Issuers"), have commenced an offer to exchange up to $1.3 billion of their outstanding 6 5/8% First Mortgage Notes due 2014 for 6 5/8% First Mortgage Notes due 2014 that have been registered under the Securities Act of 1933, as amended (the "Exchange Offer"). The Exchange Offer is scheduled to expire at 5:00 p.m., New York City time, on June 22, 2005, unless extended or earlier terminated by the Issuers. The Exchange Offer is being made in order to satisfy certain obligations of the Issuers contained in a Registration Rights Agreement, dated December 14, 2005.

The new notes are substantially identical to the notes for which they are being exchanged, except that the new notes will have been registered under the Securities Act of 1933, as amended, and, as a result, the transfer restrictions and registration rights provisions applicable to the original notes will not apply to the new notes.