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Wynn Resorts Offers Common Stock

9 Nov 2004

LAS VEGAS -- (PRESS RELEASE) -- Wynn Resorts, Limited (Nasdaq:WYNN) announced today that it has agreed to sell 7,500,000 shares of its common stock to Deutsche Bank Securities Inc. The sale, which is being made pursuant to the Company's existing shelf registration statement previously filed with, and declared effective by, the Securities and Exchange Commission, is expected to close on Monday, November 15, 2004, and is subject to customary conditions. Wynn Resorts has granted Deutsche Bank an option to purchase up to an additional 1,125,000 shares to cover over-allotments, if any.

The net proceeds from the sale of the common stock will be approximately $453.0 million, after deducting underwriting discounts and estimated offering expenses payable by Wynn Resorts. Wynn Resorts intends to use the net proceeds from the offering to repay or reduce indebtedness, for the development of the Encore at Wynn Las Vegas and Wynn Macau projects, or for general corporate purposes.

 
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