Wynn Resorts Provides Update on Macau Land Developments, Allows Development for 5-Star Hotel and Gaming Areas -Filing

As previously disclosed in the Current Report on Form 8-K of Wynn Resorts

, filed on September 12, 2011 with the Securities and Exchange Commission , on September 9, 2011, Wynn Macau, Limited , an indirect subsidiary of the Registrant with ordinary shares of its common stock listed on The Stock Exchange of Hong Kong Limited, announced that Palo Real Estate Company Limited and Wynn Resorts S.A., each an indirect subsidiary of the Registrant, formally accepted the terms and conditions of a land concession contract from the government of the Macau Special Administrative Region of the People's Republic of China in respect of approximately 51 acres of land in the Cotai area of Macau. The Land Concession Contract permits Palo and Wynn Macau to develop a resort containing a five-star hotel, gaming areas, retail, entertainment, food and beverage, spa and convention offerings on the Cotai Land. The Land Concession Contract was published in the official gazette of Macau (the “Gazette”) on January [•] 2012. Effective from such publication date, Palo will lease the Cotai Land from the Macau Government for an initial term of 25 years with the right to renew the Land Concession Contract for additional successive periods, subject to applicable legislation. The Land Concession Contract also requires that Wynn Macau, as a gaming concessionaire, operate and manage gaming operations on the Cotai Land. In addition, as previously disclosed in the Registrant's filings with the Commission, on August 1, 2008, Palo and certain affiliates of the Registrant entered into an agreement (the “Agreement”) with an unrelated third party to make a one-time payment in the amount of US $50 million in consideration of the latter's relinquishment of certain rights in and to any future development on the Cotai Land. The Agreement provides that such payment be made within 15 days after the publication of the Land Concession Contract in the Gazette. The foregoing description of the Land Concession Contract is qualified in its entirety by reference to the full English translation of the Land Concession Contract (originally published in the Gazette in traditional Chinese and Portuguese), which is filed as Exhibit 10.1 hereto and incorporated herein by reference. Dollar amounts in the Land Concession Contract refer to Macau Patacas.