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Wynn Resorts Announces Refinancing

LAS VEGAS, Nevada – (PRESS RELEASE) -- Wynn Las Vegas, LLC, a subsidiary of Wynn Resorts, Limited (Nasdaq: WYNN) announced today that it has entered into an amended and restated credit agreement with Deutsche Bank, Banc of America, Bear, Stearns, J.P. Morgan, Societe Generale and various other lenders to refinance Wynn Las Vegas' existing credit facilities.

The refinancing, among other things, (i) increases the credit facilities from $1 billion to $1.125 billion by increasing the revolver from $600 million to $900 million and reducing the term loan from $400 million to $225 million; (ii) reduces the LIBOR spread on the revolver and term loan by 0.625% and 0.250%, respectively; and (iii) extends the maturity dates for the revolver and the term loan to 2011 and 2013, respectively.

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