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Adding $900 million 1,500 Suite Hotel Tower |
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| LAS VEGAS - Nov. 8, 2004 -- Wynn Resorts, Limited (Nasdaq:WYNN) announced
today its intended expansion of its Wynn Las Vegas project on 20 acres
of land adjacent to the existing site. The new development, tentatively
named "Encore at Wynn Las Vegas," may include an approximately 1,500 suite
hotel tower, additional casino space and additional restaurants, a spa
and swimming pools, and retail and convention space designed to capitalize
on the significant infrastructure of Wynn Las Vegas, which is scheduled
to open on April 28, 2005. While the plans for the expansion have not been
finalized, Encore at Wynn Las Vegas is expected to cost approximately $900.0
million. Wynn Resorts expects that funding for Encore at Wynn Las Vegas
will be provided by new debt or equity financing to be obtained by Wynn
Las Vegas, LLC. Encore at Wynn Las Vegas would be expected to open in 2007.
Wynn Resorts is constructing, and will own and operate, the Wynn Las Vegas hotel and casino resort. The new casino resort has been designed to be the pre-eminent luxury hotel and destination casino resort on the Las Vegas Strip. Wynn Las Vegas is the concept of Stephen A. Wynn, the Chairman of the Board and Chief Executive Officer of Wynn Resorts, Limited. This press release contains "forward-looking statements" within the meaning of the federal securities laws. |
| Contact:
Wynn Resorts, Limited, Las Vegas Samanta Stewart, 702-770-7555 [email protected] |