Wynn Resorts Calls for Redemption All of Its 6% Convertible Subordinated Debentures Due 2015
LAS VEGAS--(BUSINESS WIRE)--June 15, 2007--Wynn Resorts, Limited (NASDAQ: WYNN) announced today that it has called for redemption on July 20, 2007, all of the $250 million outstanding principal amount of its 6% Convertible Subordinated Debentures due 2015 (the "Debentures").

Prior to 5:00 p.m., New York City time, on July 20, 2007, holders may convert their Debentures into shares of Wynn Resorts common stock at a conversion price of $23.00 per share (a conversion rate of approximately 43.4782 shares per $1,000 principal amount of Debentures) by following the instructions set forth in the indenture governing the Debentures. Cash will be paid in lieu of fractional shares. On June 14, 2007, the last reported sale price of Wynn Resorts common stock on the Nasdaq Global Select Market was $94.67 per share.

Any of the Debentures not converted prior to 5:00 p.m., New York City time, on July 20, 2007, will be automatically redeemed by Wynn Resorts on July 20, 2007, for cash in the amount of $1,036 per $1,000 principal amount of the Debentures, plus accrued and unpaid interest up to but not including July 20, 2007. No further interest will accrue on the Debentures on or after July 20, 2007.

A Notice of Redemption is being mailed by U.S. Bank National Association, the Trustee, Conversion Agent and Paying Agent for the Debentures, to all registered holders of the Debentures. Copies of the Notice of Redemption may be obtained from U.S. Bank National Association by calling Ray Haverstock at (651) 495-3909. The address of U.S. Bank National Association is 60 Livingston Avenue, St. Paul, Minnesota 55107.