Wynn Resorts Announces Expiration of Consent Solicitation by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp.

LAS VEGAS–(BUSINESS WIRE)–Wynn Resorts, Limited (NASDAQ: WYNN) (the “Company”) announced today
that the previously announced solicitation of consents of Wynn Las
Vegas, LLC and Wynn Las Vegas Capital Corp., indirect wholly owned
subsidiaries of the Company (the “Issuers”) with respect to the proposed
amendment (the “Proposed Amendment”) to the indenture (the “Indenture”)
governing the Issuers’ outstanding 4.25% Senior Notes due 2023 (the
“Notes”) expired at 5:00 p.m., New York City time, on March 20, 2018
(the “Expiration Time”). As of the Expiration Time, $481,181,000
aggregate principal amount of the Notes, representing approximately
96.24% of the aggregate principal amount of Notes outstanding, validly
delivered (and did not validly revoke) a consent for the Proposed
Amendment. The consents received exceed the number needed to approve the
Proposed Amendment to the Indenture.

The Issuers will make an aggregate cash payment of $25.0 million (the
“Consent Payment”) to the holders of Notes who validly delivered (and
did not validly revoke) their consents in accordance with the procedures
described in the Consent Solicitation Statement, dated March 15, 2018
(the “Consent Solicitation Statement”) prior to the Expiration Time. The
Consent Payment will be paid to the consenting holders pro rata in
accordance with the principal amount of Notes as to which consents were
validly tendered (and not revoked) prior to the Expiration Time.

The Issuers intend to execute a supplemental indenture with respect to
the Notes containing the Proposed Amendment. The supplemental indenture
will conform the definition of “Change of Control” relating to ownership
of equity interests in the Company in the Indenture to the terms of the
indentures governing the Issuers’ other outstanding notes, and will bind
all holders of the Notes, including those that did not give their
consent, though non-consenting holders will not receive such holder’s
portion of the Consent Payment. The Proposed Amendment will be effective
for the Notes upon execution of the supplemental indenture, but will be
operative only upon payment of the Consent Payment.

This announcement is for information purposes only and is neither an
offer to sell nor a solicitation of an offer to buy any security. This
announcement is also not a solicitation of consents with respect to the
Proposed Amendment or of any securities. The solicitation of consents is
not being made in any jurisdiction in which, or to or from any person to
or from whom, it is unlawful to make such solicitation under applicable
securities or “blue sky” laws.

Forward-Looking Statements

This release contains forward-looking statements, including those
related to the solicitation of consents. Forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future, and, accordingly, such results
may differ from those expressed in any forward-looking statements. These
risks and uncertainties include, but are not limited to, competition in
the casino/hotel and resorts industries, controversy, regulatory action,
litigation and investigations related to Stephen A. Wynn and his
separation from the Company, dependence on key employees, levels of
travel, leisure and casino spending, general domestic or international
economic conditions, and changes in gaming laws or regulations.
Additional information concerning potential factors that could affect
the Issuers’ financial results is included in Wynn Las Vegas, LLC’s
Annual Statement for the year ended December 31, 2017. Neither Wynn
Resorts, Limited nor the Issuers are under any obligation to (and
expressly disclaim any such obligation to) update their forward-looking
statements as a result of new information, future events or otherwise,
except as required by law.

Contacts

Wynn Resorts, Limited
Craig Billings, 702-770-7555
Chief
Financial Officer & Treasurer
investorrelations@wynnresorts.com