On April 9, 2007, Wynn Las Vegas, LLC (“WLV”), a wholly owned subsidiary of Wynn Resorts, Limited (“WRL”), entered into a First Amendment to Amended and Restated Credit Agreement, dated as of April 9, 2007 (the “Credit Agreement Amendment”), among WLV, Wynn Las Vegas Capital Corp., Wynn Show Performers, LLC, Wynn Golf, LLC, Wynn Sunrise, LLC, World Travel, LLC, Kevyn, LLC, Las Vegas Jet, LLC, and Deutsche Bank Trust Company Americas, as Administrative Agent on behalf of the several banks and other financial institutions or entities from time to time party to WLV’s Amended and Restated Credit Agreement, dated as of August 15, 2006 (the “Credit Agreement”).

Also on April 9, 2007, WLV entered into a Fifth Amendment to Master Disbursement Agreement, dated as of April 9, 2007 (the “Disbursement Agreement Amendment”), with Deutsche Bank Trust Company Americas, as Bank Agent and Disbursement Agent.

The Credit Agreement Amendment and the Disbursement Agreement Amendment, among other things, (i) permit the issuance by WLV and Wynn Las Vegas Capital Corp. of up to $500 million of senior unsecured debt to the extent permitted under the indenture relating to WLV’s First Mortgage Notes due 2014 and include such amounts as available funds under the Disbursement Agreement; (ii) declare construction of phase I of the Wynn Las Vegas resort completed; (iii) release all amounts in excess of $30 million from the completion guaranty deposit account, and release all funds in the project liquidity reserve account; (iv) increase the maximum permissible expenditures for payment of Encore project costs from $300 million to $500 million prior to the execution of a guaranteed maximum price contract for Encore; and (v) provide a de minimus exception from requiring delivery of an environmental report upon receipt of a property interest.

The lenders and agents under the Credit Agreement and certain of their affiliates have performed investment banking, commercial lending and advisory services for WLV, WRL and their affiliates, from time to time, for which they have received customary fees and expenses. These parties may, from time to time, engage in transactions with, and perform services for, WLV, WRL and their affiliates in the ordinary course of their business.