Wynn Resorts, Limited Reports First Quarter Results; Wynn Las Vegas Generates Adjusted EBITDA of $81.1 Million in Its Third Full Quarter of Operations and $293.1 Million in the 338 Days since Its April 28, 2005 Opening
LAS VEGAS--(BUSINESS WIRE)--May 3, 2006--Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the first quarter ended March 31, 2006.

Net Revenues for the quarter were $277.2 million and adjusted net income (excluding $12.6 million in pre-opening expenses, property charges, fees for the termination of "Avenue Q" and increase in swap fair value) was $1.1 million, or $0.01 per diluted share (adjusted EPS) (1). On a US GAAP (Generally Accepted Accounting Principles) basis, net loss was $11.4 million, or a net loss of $0.12 per diluted share.