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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2012	Feb. 15, 2013	Jun. 30, 2012
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	WYNN
Entity Registrant Name	WYNN RESORTS LTD
Entity Central Index Key	0001174922
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		100,982,712
Entity Public Float			$ 8

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 1,725,219	$ 1,262,587
Investment securities	138,887	122,066
Receivables, net	238,573	238,490
Inventories	63,799	72,061
Prepaid expenses and other	35,900	31,248
Total current assets	2,202,378	1,726,452
Property and equipment, net	4,727,899	4,865,332
Restricted cash and investment securities	140,334	91,501
Intangibles, net	31,297	35,751
Deferred financing costs, net	71,189	50,372
Deposits and other assets	99,227	125,712
Investment in unconsolidated affiliates	4,270	4,376
Total assets	7,276,594	6,899,496
Current liabilities:
Accounts and construction payables	164,858	171,608
Current portion of long-term debt	1,050	407,934
Current portion of land concession obligation	27,937	13,425
Customer deposits	544,649	576,011
Gaming taxes payable	163,092	177,504
Accrued compensation and benefits	75,962	78,717
Accrued interest	100,562	49,989
Other accrued liabilities	44,244	94,642
Construction retention	3,826	4,471
Deferred income taxes, net	3,178	3,575
Income taxes payable	2,019	2,017
Total current liabilities	1,131,377	1,579,893
Long-term debt	5,781,770	2,809,785
Land concession obligation	76,186	103,854
Other long-term liabilities	137,830	128,216
Deferred income taxes, net	45,499	54,294
Total liabilities	7,172,662	4,676,042
Commitments and contingencies (Note 16)
Stockholders' equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding
Common stock, par value $0.01; 400,000,000 shares authorized; 113,730,442 and 137,937,088 shares issued; 100,866,712 and 125,080,998 shares outstanding	1,137	1,379
Treasury stock, at cost; 12,863,730 and 12,856,090 shares	(1,127,947)	(1,127,036)
Additional paid-in capital	818,821	3,177,471
Accumulated other comprehensive income	4,177	840
Retained earnings	44,775	36,368
Total Wynn Resorts, Limited stockholders' equity (deficit)	(259,037)	2,089,022
Noncontrolling interest	362,969	134,432
Total equity	103,932	2,223,454
Total liabilities and stockholders' equity	$ 7,276,594	$ 6,899,496

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2012	Dec. 31, 2011
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	113,730,442	137,937,088
Common stock, shares outstanding	100,866,712	125,080,998
Treasury stock, shares	12,863,730	12,856,090

Consolidated Statements Of Income - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating revenues:
Casino	$ 4,034,759,000	$ 4,190,507,000	$ 3,245,104,000
Rooms	479,983,000	472,074,000	400,291,000
Food and beverage	588,437,000	547,735,000	488,108,000
Entertainment, retail and other	417,209,000	414,786,000	354,332,000
Gross revenues	5,520,388,000	5,625,102,000	4,487,835,000
Less: promotional allowances	(366,104,000)	(355,310,000)	(303,137,000)
Net revenues	5,154,284,000	5,269,792,000	4,184,698,000
Operating costs and expenses:
Casino	2,626,822,000	2,686,372,000	2,100,050,000
Rooms	126,527,000	125,286,000	122,260,000
Food and beverage	308,394,000	283,940,000	272,747,000
Entertainment, retail and other	189,832,000	214,435,000	204,558,000
General and administrative	441,699,000	389,053,000	391,254,000
Provision for doubtful accounts	18,091,000	33,778,000	28,304,000
Pre-opening costs	466,000	0	9,496,000
Depreciation and amortization	373,199,000	398,039,000	405,558,000
Property charges and other	39,978,000	130,649,000	25,219,000
Total operating costs and expenses	4,125,008,000	4,261,552,000	3,559,446,000
Operating income	1,029,276,000	1,008,240,000	625,252,000
Other income (expense):
Interest income	12,543,000	7,654,000	2,498,000
Interest expense, net of amounts capitalized	(288,759,000)	(229,918,000)	(222,863,000)
Increase (decrease) in swap fair value	991,000	14,151,000	(880,000)
Loss on extinguishment of debt/exchange offer	(25,151,000)		(67,990,000)
Equity in income from unconsolidated affiliates	1,086,000	1,472,000	801,000
Other	3,012,000	3,968,000	225,000
Other income (expense), net	(296,278,000)	(202,673,000)	(288,209,000)
Income before income taxes	732,998,000	805,567,000	337,043,000
(Provision) benefit for income taxes	(4,299,000)	19,546,000	(20,447,000)
Net income	728,699,000	825,113,000	316,596,000
Less: Net income attributable to noncontrolling interest	(226,663,000)	(211,742,000)	(156,469,000)
Net income attributable to Wynn Resorts, Limited	$ 502,036,000	$ 613,371,000	$ 160,127,000
Net income attributable to Wynn Resorts, Limited:
Basic	$ 4.87	$ 4.94	$ 1.30
Diluted	$ 4.82	$ 4.88	$ 1.29
Weighted average common shares outstanding:
Basic	103,092	124,039	122,787
Diluted	104,249	125,667	123,939
Dividends declared per common share:	$ 9.50	$ 6.50	$ 8.50

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net income	$ 728,699	$ 825,113	$ 316,596
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	2,749	2,102	(2,154)
Unrealized gain (loss) on available-for-sale securities, net of tax	1,780	(2,070)
Total comprehensive income	733,228	825,145	314,442
Less: Comprehensive income attributable to noncontrolling interest	(227,855)	(211,823)	(155,872)
Comprehensive income attributable to Wynn Resorts, Limited	$ 505,373	$ 613,322	$ 158,570

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities.

+ References

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury stock	Additional paid-in capital	Accumulated other comprehensive income	Retained earnings (deficit)	Noncontrolling interest	Wynn Resorts, Ltd
Beginning balance (in shares) at Dec. 31, 2009		123,293,456
Beginning balance at Dec. 31, 2009	$ 3,160,363	$ 1,361	$ (1,119,407)	$ 4,239,497	$ 2,446	$ (89,559)	$ 126,025	$ 3,034,338
Net income	316,596					160,127	156,469	160,127
Currency translation adjustment	(2,154)				(1,557)		(597)	(1,557)
Exercise of stock options (in shares)		1,308,052
Exercise of stock options	66,186	$ 13		66,173				66,186
Cancellation of restricted stock, Value	(1)	$ (1)						(1)
Cancellation of restricted stock, shares		(52,000)
Issuance of restricted stock (in shares)		50,000
Issuance of restricted stock	1	$ 1						1
Forfeited cash dividends upon cancellation of nonvested stock	252					252		252
Cash dividends	(1,198,923)			(996,473)		(61,778)	(140,672)	(1,058,251)
Excess tax benefits from stock-based compensation	10,480			10,480				10,480
Stock-based compensation	27,785			26,373			1,412	26,373
Ending balance (in shares) at Dec. 31, 2010		124,599,508
Ending balance at Dec. 31, 2010	2,380,585	$ 1,374	(1,119,407)	3,346,050	889	9,042	142,637	2,237,948
Net income	825,113					613,371	211,742	613,371
Currency translation adjustment	2,102				1,520		582	1,520
Net unrealized gain (loss) on investments	(2,070)				(1,569)		(501)	(1,569)
Exercise of stock options (in shares)		431,126
Exercise of stock options	23,859	$ 4		23,836			19	23,840
Issuance of restricted stock (in shares)		101,500
Issuance of restricted stock		$ 1		(1)
Purchase of Treasury stock	$ (7,629)		(7,629)					(7,629)
Purchase of Treasury stock (in shares)	(51,136)	(51,136)
Cash dividends	$ (1,034,449)			(226,755)		(586,045)	(221,649)	(812,800)
Excess tax benefits from stock-based compensation	11,176			11,176				11,176
Stock-based compensation	$ 24,767			23,165			1,602	23,165
Ending balance (in shares) at Dec. 31, 2011	125,080,998	125,080,998
Ending balance at Dec. 31, 2011	$ 2,223,454	$ 1,379	(1,127,036)	3,177,471	840	36,368	134,432	2,089,022
Stock redemption, shares		(24,549,222)
Stock redemption	(1,936,443)	$ (245)		(1,936,198)				(1,936,443)
Net income	728,699					502,036	226,663	502,036
Currency translation adjustment	2,749				1,987		762	1,987
Net unrealized gain (loss) on investments	1,780				1,350		430	1,350
Exercise of stock options (in shares)		332,576
Exercise of stock options	15,583	$ 3		15,580				15,583
Cancellation of restricted stock, shares		(31,500)
Issuance of restricted stock (in shares)		41,500
Purchase of Treasury stock	$ (911)		(911)					(911)
Purchase of Treasury stock (in shares)	(7,640)	(7,640)
Cash dividends	$ (956,359)			(462,730)		(493,629)		(956,359)
Excess tax benefits from stock-based compensation	5,537			5,537				5,537
Stock-based compensation	$ 19,843			19,161			682	19,161
Ending balance (in shares) at Dec. 31, 2012	100,866,712	100,866,712
Ending balance at Dec. 31, 2012	$ 103,932	$ 1,137	$ (1,127,947)	$ 818,821	$ 4,177	$ 44,775	$ 362,969	$ (259,037)

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities:
Net income	$ 728,699	$ 825,113	$ 316,596
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	373,199	398,039	405,558
Deferred income taxes	(3,655)	(10,822)	18,875
Stock-based compensation	19,648	23,881	27,168
Excess tax benefits from stock-based compensation	(5,253)	(11,052)	(9,833)
Amortization and write-offs of deferred financing costs and other	23,965	19,683	24,342
Loss on extinguishment of debt/exchange offer	25,151		62,608
Provision for doubtful accounts	18,091	33,778	28,304
Property charges and other	36,714	104,223	10,270
Equity in income of unconsolidated affiliates, net of distributions	106	(144)	(130)
(Increase) decrease in swap fair value	(991)	(14,151)	880
Increase (decrease) in cash from changes in:
Receivables, net	(21,019)	(84,653)	(63,073)
Inventories and prepaid expenses and other	3,644	11,168	22,169
Accounts payable and accrued expenses	(12,581)	220,772	213,578
Net cash provided by operating activities	1,185,718	1,515,835	1,057,312
Cash flows used in investing activities:
Capital expenditures, net of construction payables and retention	(240,985)	(184,146)	(283,828)
Restricted cash and purchase of corporate debt securities	(282,608)	(316,533)
Proceeds from sale or maturity of corporate debt securities	216,051	101,017
Deposits and purchase of other assets	(38,042)	(60,135)	(13,034)
Proceeds from sale of equipment	730	697	739
Net cash (used in) provided by investing activities	(344,854)	(459,100)	(296,123)
Cash flows from financing activities:
Proceeds from exercise of stock options	15,583	23,859	66,186
Excess tax benefits from stock-based compensation	5,253	11,052	9,833
Dividends paid	(955,493)	(1,033,447)	(1,192,138)
Proceeds from issuance of long-term debt	1,648,643	150,483	2,246,361
Principal payments on long-term debt	(1,022,847)	(201,901)	(2,551,561)
Purchase of treasury stock	(911)	(7,629)
Interest rate swap settlement	(2,368)
Payments on long-term land concession obligation	(13,449)
Payment of financing costs	(56,890)	(58)	(71,317)
Net cash used in financing activities	(382,479)	(1,057,641)	(1,492,636)
Effect of exchange rate on cash	4,247	4,994	(1,884)
Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents	462,632	4,088	(733,331)
Balance, beginning of year	1,262,587	1,258,499	1,991,830
Balance, end of year	1,725,219	1,262,587	1,258,499
Supplemental cash flow disclosures:
Increase in debt related to the redemption of stock	1,936,443
Cash paid for interest, net of amounts capitalized	225,499	221,123	171,663
Change in property and equipment included in accounts and construction payables	6,557	13,794	(27,670)
Cash paid for income taxes	4,547	2,088	1,019
Increase in liability for dividends declared on nonvested stock	$ 866	$ 1,003	$ 6,703

Organization

12 Months Ended

Dec. 31, 2012

Organization

1. Organization

Wynn Resorts, Limited, a Nevada corporation (together with its subsidiaries, “Wynn Resorts” or the “Company”) currently owns and operates casino hotel resort properties in Las Vegas, Nevada and Macau.

Our Las Vegas operations feature two luxury hotel towers with a total of 4,750 spacious hotel rooms, suites and villas, approximately 186,000 square feet of casino space, 35 food and beverage outlets featuring signature chefs, an on-site 18-hole golf course, meeting space, a Ferrari and Maserati dealership, approximately 95,000 square feet of retail space as well as two showrooms; three nightclubs and a beach club.

Our Macau resort is a resort destination casino located in the Macau Special Administrative Region of the People’s Republic of China with two luxury hotel towers with a total of 1,008 spacious rooms and suites, approximately 275,000 square feet of casino space, casual and fine dining in eight restaurants, approximately 55,000 square feet of retail space, recreation and leisure facilities, including two health clubs and spas and a pool.

In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 shares (27.7%) of this subsidiary’s common stock.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph 8, C1, C7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its majority owned subsidiaries. Investments in the 50%-owned joint ventures operating the Ferrari and Maserati automobile dealership and the Brioni mens’ retail clothing store inside Wynn Las Vegas are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated. Certain amounts in the consolidated financial statements for the previous years have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on the previously reported net income.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Redemption Price Promissory Note

The Company recorded the fair value of the Redemption Price Promissory Note (the “Redemption Note”) at its estimated present value of approximately $1.94 billion in accordance with applicable accounting guidance. In determining this fair value, the Company considered the stated maturity of the Redemption Note, its stated interest rate, and the uncertainty of the related cash flows of the Redemption Note as well as the potential effects of the following: uncertainties surrounding the potential outcome and timing of pending litigation with Aruze USA, Inc. (see Note 16—“Commitments and Contingencies”); the outcome of on-going investigations by the Nevada Gaming Control Board; and other potential legal and regulatory actions. In addition, in the furtherance of various future business objectives, the Company considered its ability, at its sole option, to prepay the Redemption Note at any time in accordance with its terms without penalty. Accordingly, the Company reasonably determined that the estimated life of the Redemption Note could be less than the contractual life of the Redemption Note. When considering the appropriate rate of interest to be used to determine fair value for accounting purposes and in light of the uncertainty in the timing of the cash flows, the Company used observable inputs from a range of trading values of financial instruments with terms and lives similar to the estimated life and terms of the Redemption Note. As a result of this analysis, the Company concluded the Redemption Note’s stated rate of 2% approximated a market rate.

Cash and Cash Equivalents

Cash and cash equivalents are comprised of highly liquid investments with original maturities of three months or less and include both U.S. dollar-denominated and foreign currency-denominated securities. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents of $969.2 million and $545 million at December 31, 2012 and 2011, respectively, were invested in bank time deposits, money market accounts, U.S. treasuries and commercial paper. In addition, the Company held bank deposits and cash on hand of approximately $756 million and $717.5 million as of December 31, 2012 and 2011, respectively.

Restricted Cash and Investment Securities

Restricted cash consists primarily of certain proceeds of the Company’s financing activities that are restricted by the agreements governing the Company’s debt instruments for the payment of certain Cotai related construction and development costs. Restricted cash balances totaled approximately $99.2 million at December 31, 2012, substantially all of which were invested in time deposits. There was no restricted cash at December 31, 2011.

Investment securities consist of short-term and long-term investments in domestic and foreign corporate debt securities and commercial paper. The Company’s investment policy limits the amount of exposure to any one issuer with the objective of minimizing the potential risk of principal loss. Management determines the appropriate classification (held-to-maturity/available-for-sale) of its securities at the time of purchase and reevaluates such designation as of each balance sheet date. The Company’s current investments are reported at fair value, with unrealized gains and losses, net of tax, reported in other comprehensive income. Adjustments are made for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in interest income together with realized gains and losses and the stated interest on such securities.

Accounts Receivable and Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino accounts receivable. The Company issues credit in the form of “markers” to approved casino customers following investigations of creditworthiness. At December 31, 2012 and 2011, approximately 84% of the Company’s markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in these countries could affect the collectability of such receivables.

Accounts receivable, including casino and hotel receivables, are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company’s receivables to their carrying amount, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as management’s experience with collection trends in the casino industry and current economic and business conditions. In June 2012, the Company recorded an adjustment to its reserve estimates for casino accounts receivable based on the results of historical collection patterns and current collection trends. For the year ended December 31, 2012, this adjustment benefitted operating income by $30.9 million and net income attributable to Wynn Resorts, Limited by $23.3 million (or $0.22 per share on a fully diluted basis).

Inventories

Inventories consist of retail merchandise, food and beverage items which are stated at the lower of cost or market value and certain operating supplies. Cost is determined by the first-in, first-out, average and specific identification methods.

Property and Equipment

Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:


Buildings and improvements		10 to 45 years
Land improvements		10 to 45 years
Leasehold interest in land		25 years
Airplanes		18 to 20 years
Furniture, fixtures and equipment		3 to 20 years

Costs related to improvements are capitalized, while costs of repairs and maintenance are charged to expense as incurred. The cost and accumulated depreciation of property and equipment retired or otherwise disposed of are eliminated from the respective accounts and any resulting gain or loss is included in operations.

Capitalized Interest

The interest cost associated with major development and construction projects is capitalized and included in the cost of the project. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use. When no debt is specifically identified as being incurred in connection with a construction project, the Company capitalizes interest on amounts expended on the project at the Company’s weighted average cost of borrowed money. Interest of $2 million, $0 and $7.2 million was capitalized for the years ended December 31, 2012, 2011 and 2010, respectively.

Intangibles

The Company’s indefinite-lived intangible assets consist primarily of water rights acquired as part of the original purchase price of the property on which Wynn Las Vegas is located, and trademarks. Indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually. The Company’s finite-lived intangible assets consist of a Macau gaming concession and show production rights. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.

Long-Lived Assets

Long-lived assets, which are to be held and used, including intangibles and property and equipment, are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. If an indicator of impairment exists, the Company compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then impairment is measured as the difference between fair value and carrying value, with fair value typically based on a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs.

Deferred Financing Costs

Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expense over the terms of the related debt agreements. Approximately $11 million, $11.6 million and $13.2 million were amortized to interest expense during the years ended December 31, 2012, 2011 and 2010, respectively. Debt discounts incurred in connection with the issuance of debt have been capitalized and are being amortized to interest expense using the effective interest method.

Derivative Financial Instruments

The Company seeks to manage its market risk, including interest rate risk associated with variable rate borrowings, through balancing fixed-rate and variable-rate borrowings with the use of derivative financial instruments. The fair value of derivative financial instruments are recognized as assets or liabilities at each balance sheet date, with changes in fair value affecting net income as the Company’s current interest rate swaps do not qualify for hedge accounting. Accordingly, changes in the fair value of the interest rate swaps are presented as an increase (decrease) in swap fair value in the accompanying Consolidated Statements of Income. The differentials paid or received on interest rate swap agreements are recognized as adjustments to interest expense.

Revenue Recognition and Promotional Allowances

The Company recognizes revenues at the time persuasive evidence of an arrangement exists, the service is provided or the retail goods are sold, prices are fixed or determinable and collection is reasonably assured.

Casino revenues are measured by the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers’ possession. Cash discounts, other cash incentives related to casino play and commissions rebated through junkets to customers are recorded as a reduction to casino revenue. Hotel, food and beverage, entertainment and other operating revenues are recognized when services are performed. Entertainment, retail and other revenue includes rental income which is recognized on a time proportion basis over the lease term. Contingent rental income is recognized when the right to receive such rental income is established according to the lease agreements. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer.

Revenues are recognized net of certain sales incentives which are required to be recorded as a reduction of revenue; consequently, the Company’s casino revenues are reduced by discounts, commissions and points earned in the player’s club loyalty program.

The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues. Such amounts are then deducted as promotional allowances. The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (amounts in thousands):


	Years Ended December 31,
	2012		2011		2010
Rooms	$	53,487	$	52,019	$	52,017
Food and beverage		107,882		104,413		94,220
Entertainment, retail and other		17,522		17,017		21,091

	$	178,891	$	173,449	$	167,328

Customer Loyalty Program

The Company offers a slot club program whereby customers may earn points based on their level of play that may be redeemed for free credit that must be replayed in the slot machine. The Company accrues a liability based on the points earned times the redemption value, less an estimate for breakage, and records a related reduction in casino revenue.

Slot Machine Jackpots

The Company does not accrue a liability for base jackpots because it has the ability to avoid such payment as slot machines can legally be removed from the gaming floor without payment of the base amount. When the Company is unable to avoid payment of the jackpot (i.e., the incremental amount on a progressive slot machine) due to legal requirements, the jackpot is accrued as the obligation becomes unavoidable. This liability is accrued over the time period in which the incremental progressive jackpot amount is generated with a related reduction in casino revenue.

Gaming Taxes

The Company is subject to taxes based on gross gaming revenue in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are an assessment on the Company’s gaming revenue and are recorded as an expense within the “Casino” line item in the accompanying Consolidated Statements of Income. These taxes totaled $1.8 billion, $1.9 billion and $1.4 billion for the years ended December 31, 2012, 2011 and 2010, respectively.

Advertising Costs

The Company expenses advertising costs the first time the advertising takes place. Advertising costs incurred in development periods are included in pre-opening costs. Once a project is completed, advertising costs are primarily included in general and administrative expenses. Total advertising costs were $23 million, $19.5 million and $19 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Pre-Opening Costs

Pre-opening costs consist primarily of direct salaries and wages, legal and consulting fees, insurance, utilities and advertising, and are expensed as incurred. During the year ended December 31, 2012, the Company incurred pre-opening costs in connection with the design and construction of the Company’s planned resort in the Cotai area of Macau. There were no pre-opening costs during the year ended December 31, 2011. During the year ended December 31, 2010, the Company incurred pre-opening costs in connection with the Encore Beach Club and Surrender Nightclub which opened in May 2010, and Encore at Wynn Macau prior to its opening in April 2010.

Income Taxes

The Company is subject to income taxes in the United States and other foreign jurisdictions where it operates. Accounting standards require the recognition of deferred tax assets, net of applicable reserves, and liabilities for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on the income tax provision and deferred tax assets and liabilities is recognized in the results of operations in the period that includes the enactment date. Accounting standards also require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied.

The Company’s income tax returns are subject to examination by the IRS and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. The accounting standards prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements.

Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition (Step I) occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement (Step II) is only addressed if the position is deemed to be more likely than not to be sustained. Under Step II, the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Use of the term “more likely than not” is consistent with how that term is used in accounting for income taxes (i.e., likelihood of occurrence is greater than 50%).

Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the “more likely than not” standard. If it is subsequently determined that a previously recognized tax position no longer meets the “more likely than not” standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes.

Currency Translation

Gains or losses from foreign currency remeasurements are included in other income/expense in the accompanying Consolidated Statements of Income. The results of operations and the balance sheet of Wynn Macau, Limited and its subsidiaries are translated from Macau Patacas to U.S. dollars. Balance sheet accounts are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive income.

Comprehensive Income

Comprehensive income includes net income and all other non-stockholder changes in equity, or other comprehensive income. Components of the Company’s comprehensive income are reported in the accompanying Consolidated Statements of Stockholders’ Equity and Consolidated Statements of Comprehensive Income. The cumulative balance of other comprehensive income consists solely of currency translation adjustments and unrealized gain (loss) on available-for-sale securities.

Fair Value Measurements

The Company measures certain of its financial assets and liabilities, such as cash equivalents, available-for-sale securities and interest rate swaps, at fair value on a recurring basis pursuant to accounting standards for fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. These accounting standards establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The following table presents assets and liabilities carried at fair value (amounts in thousands):


			Fair Value Measurements Using:
	Total Carrying Value		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
As of December 31, 2012
Redemption Price Promissory Note	$	1,936,443	$	—	$	1,936,443	$	—
Cash equivalents	$	969,166	$	80,434	$	888,732	$	—
Interest rate swaps	$	3,938	$	—	$	3,938	$	—
Restricted cash and available-for-sale securities	$	279,221	$	—	$	279,221	$	—
As of December 31, 2011
Cash equivalents	$	545,045	$	363,104	$	181,941	$	—
Interest rate swaps	$	7,298	$	—	$	7,298	$	—
Available-for-sale securities	$	213,567	$	—	$	213,567	$	—

As of December 31, 2012 and 2011, approximately 77% and 100% of the Company’s cash equivalents categorized as level 2 were deposits held in foreign currencies, respectively.

Earnings Per Share

Basic earnings per share (“EPS’) is computed by dividing net income attributable to Wynn Resorts by the weighted average number of shares outstanding during the year. Diluted EPS reflects the addition of potentially dilutive securities which for the Company include stock options and nonvested stock.

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS for the years ended December 31, 2012, 2011 and 2010, consisted of the following (amounts in thousands):


	2012		2011		2010
Weighted average common shares outstanding (used in calculation of basic earnings per share)		103,092		124,039		122,787
Potential dilution from the assumed exercise of stock options and nonvested stock		1,157		1,628		1,152

Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)		104,249		125,667		123,939

Anti-dilutive stock options excluded from the calculation of diluted earnings per share		680		610		1,078

Stock-Based Compensation

Accounting standards require the Company to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognize that cost over the service period. The Company uses the Black-Scholes valuation model to determine the estimated fair value for each option grant issued. The Black-Scholes determined fair value net of estimated forfeitures is amortized as compensation cost on a straight line basis over the service period.

Further information on the Company’s stock-based compensation arrangements is included in Note 14 “Benefit Plans”.

Recently Issued Accounting Standards

In July 2012, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update that is intended to simplify the guidance for testing the decline in the realizable value (impairment) of indefinite-lived intangible assets other than goodwill. The update allows for the consideration of qualitative factors in determining whether it is necessary to perform quantitative impairment tests. The effective date for this update is for the years and interim impairment tests performed for years beginning after September 15, 2012. This update is not expected to have a material impact on the Company’s financial statements.

In May 2011, the FASB issued an accounting standards update that is intended to align the principles for fair value measurements and the related disclosure requirements under GAAP and IFRS. From a GAAP perspective, the updates are largely clarifications and certain additional disclosures. The effective date for this update is for years, and the interim periods within those years, beginning after December 15, 2011. The adoption of this guidance did not have a material effect on the Company’s financial statements.

In June 2011, the FASB issued an accounting standards update that requires items of net income, items of other comprehensive income (“OCI”) and total comprehensive income to be presented in one continuous statement or two separate but consecutive statements. This updated presentation makes the items within OCI more prominent. Companies are no longer allowed to present OCI in the statement of stockholders’ equity. The effective date for this update was for the years, and the interim periods within those years, beginning after December 15, 2011. The Company has adopted this guidance and Consolidated Statements of Comprehensive Income are included in the Company’s financial statements.

Comprehensive Income

12 Months Ended

Dec. 31, 2012

Comprehensive Income

3. Comprehensive Income

The following table presents the changes by component in Accumulated Other Comprehensive Income of the Company (amounts in thousands):


	Foreign currency translation		Unrealized gain/loss on securities			Accumulated other comprehensive income
December 31, 2011	$	2,409	$	(1,569	)	$	840
Current period other comprehensive income		1,987		1,350			3,337

December 31, 2012	$	4,396	$	(219	)	$	4,177

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e689-108580

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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6522872

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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Investment Securities

12 Months Ended

Dec. 31, 2012

Investment Securities

4. Investment Securities

Investment securities consisted of the following (amounts in thousands):


	Available-for-sale securities

	Amortized Cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
December 31, 2012
Domestic and foreign corporate bonds	$	161,631	$	94	$	(369	)	$	161,356
Commercial paper		18,704		4		(5	)		18,703

	$	180,335	$	98	$	(374	)	$	180,059

December 31, 2011
Domestic and foreign corporate bonds	$	196,986	$	20	$	(2,070	)	$	194,936
Commercial paper		18,651		1		(21	)		18,631

	$	215,637	$	21	$	(2,091	)	$	213,567

For investments with unrealized losses as of December 31, 2012, the Company has determined that (i) it does not have the intent to sell any of these investments, and (ii) it is not likely that the Company will be required to sell these investments prior to the recovery of the amortized cost. Accordingly, the Company has determined that no other-than-temporary impairments exist at the reporting date.

The Company obtains pricing information in determining the fair value of its available-for-sale securities from independent pricing vendors. Based on management’s inquiries, the pricing vendors use various pricing models consistent with what other market participants would use. The assumptions and inputs used by the pricing vendors are derived from market observable sources including: reported trades, broker/dealer quotes, issuer spreads, benchmark curves, bids, offers and other market-related data. The Company has not made adjustments to such prices. Each quarter, the Company validates the fair value pricing methodology to determine the fair value consistent with applicable accounting guidance and to confirm that the securities are classified properly in the fair value hierarchy. The Company compares the pricing received from its vendors to independent sources for the same or similar securities.

The amortized cost and estimated fair value of these investment securities at December 31, 2012, by contractual maturity are shown below (amounts in thousands):


	Amortized Cost		Fair Value
Available-for-sale securities
Due in one year or less		$138,992		$138,887
Due after one year through two years		41,343		41,172

		$180,335		$180,059

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
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-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Receivables, net

12 Months Ended

Dec. 31, 2012

Receivables, net

5. Receivables, net

Receivables, net consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
Casino		$275,302			$264,034
Hotel		18,227			20,790
Retail leases and other		47,257			45,520

		340,786			330,344
Less: allowance for doubtful accounts		(102,213	)		(91,854	)

		$238,573			$238,490

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

+ Details

Property and Equipment, net

12 Months Ended

Dec. 31, 2012

Property and Equipment, net

6. Property and Equipment, net

Property and equipment, net consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
Land and improvements		$732,209			$730,335
Buildings and improvements		3,837,215			3,777,612
Airplanes		135,392			77,436
Furniture, fixtures and equipment		1,646,506			1,655,655
Leasehold interest in land		316,658			316,437
Construction in progress		110,490			28,477

		6,778,470			6,585,952
Less: accumulated depreciation		(2,050,571	)		(1,720,620	)

		$4,727,899			$4,865,332

Depreciation expense for the years ended December 31, 2012, 2011 and 2010, was $367.1 million, $389.8 million and $394.9 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Intangibles, net

12 Months Ended

Dec. 31, 2012

Intangibles, net

7. Intangibles, net

Intangibles, net consisted of the following (amounts in thousands):


	Macau Gaming Concession			Show Production Rights			Water Rights		Trademarks		Total Intangibles, Net
January 1, 2011	$	27,401		$	5,005		$	6,400	$	1,399	$	40,205
Amortization		(2,383	)		(2,071	)		—		—		(4,454	)

December 31, 2011		25,018			2,934			6,400		1,399		35,751
Amortization		(2,383	)		(2,071	)		—		—		(4,454	)

December 31, 2012	$	22,635		$	863		$	6,400	$	1,399	$	31,297

The Macau gaming concession intangible is being amortized over the 20-year life of the concession. The Company expects that amortization of the Macau gaming concession will be $2.4 million each year from 2013 through 2021, and $1.2 million in 2022.

Show production rights represent amounts paid to purchase the rights to the “Le Rêve” production show, which is performed at Wynn Las Vegas. The Company expects show production rights amortization of $0.9 million in 2013, which is the final year of amortization.

Water rights reflect the fair value allocation determined in the purchase of the property on which Wynn Las Vegas is located in April 2000. The value of the trademarks primarily represents the costs to acquire the “Le Rêve” name. The water rights and trademarks are indefinite-lived assets and, accordingly, not amortized.

Long-Term Debt

12 Months Ended

Dec. 31, 2012

Long-Term Debt

8. Long-Term Debt

Long-term debt consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
7 7/8% Wynn Las Vegas First Mortgage Notes, due November 1, 2017, net of original issue discount of $7,384 at December 31, 2012 and $8,578 at December 31, 2011	$	492,616		$	491,422
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020,net of original issue discount of $1,632 at December 31, 2012 and $1,789 at December 31, 2011		350,378			350,221
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020		1,320,000			1,320,000
5 3/8% Wynn Las Vegas First Mortgage Notes, due March 15, 2022		900,000			—
Wynn Las Vegas Term Loan Facility, due August 15, 2013; interest at LIBOR plus 1.875%		—			40,262
Wynn Las Vegas Term Loan Facility, due August 17, 2015; interest at LIBOR plus 3%		—			330,605
Wynn Macau Senior Term Loan Facilities (as amended July 2012), due July 31, 2017 and July 31, 2018; interest at LIBOR or HIBOR plus 1.75%—2.50%, net of original issue discount of $3,737 at December 31, 2012		749,433			—
Wynn Macau Senior Term Loan Facilities (as amended June 2007), due June 27, 2014; interest at LIBOR or HIBOR plus 1.25%—1.75% at December 31, 2011		—			477,251
Wynn Macau Senior Revolving Credit Facilities, (as amended July 2012) due July 31, 2017; interest at LIBOR or HIBOR plus 1.75%—2.50%		—			—
Wynn Macau Senior Revolving Credit Facility, due June 27, 2012; interest at LIBOR or HIBOR plus 1.25% at December 31, 2011……		—			150,400
Redemption Price Promissory Note with former stockholder and related party, due February 18, 2022; interest at 2%		1,936,443			—
$42 million Note Payable, due April 1, 2017; interest at LIBOR plus 1.25%		33,950			35,350
$32.5 million Note Payable, due August 10, 2012; interest at LIBOR plus 1.15%		—			22,208

		5,782,820			3,217,719
Current portion of long-term debt		(1,050	)		(407,934	)

	$	5,781,770		$	2,809,785

7 7/8% Wynn Las Vegas First Mortgage Notes due 2017

In October 2009, Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (together, the “Issuers”) issued, in a private offering, $500 million aggregate principal amount of 7 7/8% first mortgage notes due November 1, 2017 (the “2017 Notes”) at a price of 97.823% of the principal amount. Interest is due on the 2017 Notes on May 1st and November 1st of each year. Commencing November 1, 2013, the 2017 Notes are redeemable at the Issuers’ option at a price equal to 103.938% of the principal amount redeemed and the premium over the principal amount declines ratably on November 1st of each year thereafter to zero on or after November 1, 2015. The 2017 Notes are senior obligations of the Issuers and are unsecured (except by the first priority pledge by Wynn Resorts Holdings, LLC of its equity interests in Wynn Las Vegas, LLC (the “Holdings pledge”)). The Issuers’ obligations under the 2017 Notes rank pari passu in right of payment with the 7 7/8% 2020 Notes (as defined below), the 7 3/4% 2020 Notes (as defined below) and the 2022 Notes (as defined below). The 2017 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 2017 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 2017 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC’s ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

7 7/8% Wynn Las Vegas First Mortgage Notes due 2020

In April 2010, the Issuers issued, in a private offering, $352 million aggregate principal amount of 7 7/8% first mortgage notes due May 1, 2020 (the “7 7/8% 2020 Notes”). The 7 7/8% 2020 Notes were issued pursuant to an exchange offer for previously issued notes that were to mature in December 2014. Interest is due on the 7 7/8% 2020 Notes on May 1st and November 1st of each year. Commencing May 1, 2015, the 7 7/8% 2020 Notes are redeemable at the Issuers’ option at a price equal to 103.938% of the principal amount redeemed and the premium over the principal amount declines ratably on May 1st of each year thereafter to zero on or after May 1, 2018. The 7 7/8% 2020 Notes are senior obligations of the Issuers and are unsecured (except by the Holdings pledge). The Issuers’ obligations under the 7 7/8% 2020 Notes rank pari passu in right of payment with the 2017 Notes, the 7 3/4% 2020 Notes (as defined below) and the 2022 Notes (as defined below). The 7 7/8% 2020 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 7 7/8% 2020 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 7 7/8% 2020 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC’s ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

7 3/4% Wynn Las Vegas First Mortgage Notes due 2020

In August 2010, the Issuers issued $1.32 billion aggregate principal amount of 7 3/4% first mortgage notes due August 15, 2020 (the “7 3/4% 2020 Notes”). The 7 3/4% 2020 Notes were issued at par. The 7 3/4% 2020 Notes refinanced a previous notes issue that was to mature in December 2014. Interest is due on the 7 3/4% 2020 Notes on February 15th and August 15th of each year. Commencing August 15, 2015, the 7 3/4% 2020 Notes are redeemable at the Issuers’ option at a price equal to 103.875% of the principal amount redeemed and the premium over the principal amount declines ratably on August 15th of each year thereafter to zero on or after August 15, 2018. The 7 3/4% 2020 Notes are senior obligations of the Issuers and are unsecured (except by the Holdings pledge). The Issuers’ obligations under the 7 3/4% 2020 Notes rank pari passu in right of payment with the 2017 Notes, the 7 7/8% 2020 Notes and the 2022 Notes (as defined below). The 7 3/4% 2020 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 7 3/4% 2020 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 7 3/4% 2020 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC’s ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

5 3/8% Wynn Las Vegas First Mortgage Notes due 2022

In March 2012, the Issuers issued, in a private offering, $900 million aggregate principal amount of 5 3/8% first mortgage notes due 2022 (the “2022 Notes”). A portion of the proceeds were used to repay all amounts outstanding under the Wynn Las Vegas term loan facilities. In October 2012, the Issuers commenced an offer to exchange all of the 2022 Notes for notes registered under the Securities Act of 1933, as amended. The exchange offer closed on November 6, 2012. Interest is due on the 2022 Notes on March 15th and September 15th of each year. Commencing March 15, 2017, the 2022 Notes are redeemable at the Issuers’ option at a price equal to 102.688% of the principal amount redeemed and the premium over the principal amount declines ratably on March 15th of each year thereafter to zero on or after March 15, 2020. The 2022 Notes are senior obligations of the Issuers and are unsecured (except by the Holdings pledge). The Issuers’ obligations under the 2022 Notes rank pari passu in right of payment with the 2017 Notes, the 7 7/8% 2020 Notes and the 7 3/4% 2020 Notes. The 2022 Notes are not guaranteed by any of the Company’s subsidiaries. If the Issuers undergo a change of control, they must offer to repurchase the 2022 Notes at 101% of the principal amount, plus accrued and unpaid interest. The indenture governing the 2022 Notes contains customary negative covenants and financial covenants, including, but not limited to, covenants that restrict Wynn Las Vegas, LLC’s ability to: pay dividends or distributions or repurchase equity; incur additional debt; make investments; create liens on assets to secure debt; enter into transactions with affiliates; enter into sale-leaseback transactions; merge or consolidate with another company; transfer and sell assets or create dividend and other payment restrictions affecting subsidiaries.

As described in Note 16 of the Consolidated Financial Statements, Elaine Wynn has submitted a cross claim against Steve Wynn and Kazuo Okada. The indentures for the 2017 Notes, the 7 7/8% 2020 Notes, the 7 3/4% 2020 Notes and the 2022 Notes (collectively, the “Indentures”) provide that if Steve Wynn, together with certain related parties, in the aggregate beneficially owns a lesser percentage of the outstanding common stock of the Company than are beneficially owned by any other person, a change of control will have occurred. If Elaine Wynn prevails in her cross claim, Steve Wynn would not beneficially own or control Elaine Wynn’s shares and a change in control may result under the Indentures and the Company’s other debt documents.

In September 2012, as discussed below, the Wynn Las Vegas Credit Agreement (as defined below) was terminated, and in accordance with the respective Indentures, the liens (other than the Holdings pledge) on the assets of Wynn Las Vegas, LLC and its subsidiaries securing, and the subsidiary guarantees of, the 2017 Notes, the 7 7/8% 2020 Notes, the 7 3/4% 2020 Notes and the 2022 Notes were released.

Wynn Las Vegas Credit Facilities

In March 2012, Wynn Las Vegas entered into an eighth amendment (“Amendment No. 8”) to its Amended and Restated Credit Agreement, dated as of August 15, 2006 (as amended, the “Wynn Las Vegas Credit Agreement”). Amendment No. 8 amended the Wynn Las Vegas Credit Agreement to, among other things, permit the issuance of the 2022 Notes. Concurrently with the issuance of the 2022 Notes, Wynn Las Vegas, LLC prepaid all term loans under the Wynn Las Vegas Credit Agreement, terminated all of its revolving credit commitments that were due to expire in 2013, and terminated all but $100 million of its revolving credit commitments expiring in 2015. In connection with this transaction, the Company expensed deferred financing fees of $4.8 million, all related to the Wynn Las Vegas term loan and revolving credit facilities.

In September 2012, Wynn Las Vegas terminated the Wynn Las Vegas Credit Agreement. No loans were outstanding under the Wynn Las Vegas Credit Agreement at the time of termination. Prior to such termination, certain letters of credit in which lenders had participated pursuant to the Wynn Las Vegas Credit Agreement were reallocated to a separate, unsecured letter of credit facility provided by Deutsche Bank, A.G. Wynn Las Vegas did not incur any early termination penalties related to the termination.

In connection with the termination, the Company expensed $2.6 million of previously deferred financing costs and third party fees related to the Wynn Las Vegas Credit Agreement.

Wynn Macau Credit Facilities

During the year ended December 31, 2012, Wynn Macau, S.A. repaid $150.4 million of borrowings under the Wynn Macau Senior Revolving Credit Facility. On June 27, 2012, the Wynn Macau Senior Revolving Credit Facility matured with an outstanding balance of $0.

On July 31, 2012, Wynn Macau, S.A., amended and restated its credit facilities, dated September 14, 2004 (as so amended and restated, the “Amended Wynn Macau Credit Facilities”), and appointed Bank of China Limited, Macau Branch as intercreditor agent, facilities agent and security agent. The Amended Wynn Macau Credit Facilities and related agreements took effect on July 31, 2012 and expand availability under Wynn Macau S.A.’s senior secured bank facility to US$2.3 billion equivalent, consisting of a US$750 million equivalent fully funded senior secured term loan facility and a US$1.55 billion equivalent senior secured revolving credit facility. Wynn Macau, S.A. also has the ability to upsize the total senior secured facilities by an additional US$200 million pursuant to the terms and provisions of the Amended Wynn Macau Credit Facilities. Borrowings under the Amended Wynn Macau Credit Facilities, which consist of both Hong Kong Dollar and United States Dollar tranches, were used to refinance Wynn Macau S.A.’s existing indebtedness, and will be used to fund the design, development, construction and pre-opening expenses of Wynn Cotai and for general corporate purposes.

The term loan facility matures in July 2018, and the revolving credit facility matures in July 2017. The principal amount of the term loan is required to be repaid in two equal installments in July 2017 and July 2018. The senior secured facilities bear interest for the first six months after closing at LIBOR or HIBOR plus a margin of 2.50% and thereafter will be subject to LIBOR or HIBOR plus a margin of between 1.75% to 2.50% based on Wynn Macau, S.A.’s leverage ratio.

Borrowings under the Amended Wynn Macau Credit Facilities are guaranteed by Palo Real Estate Company Limited (“Palo”), a subsidiary of Wynn Macau, S.A., and by certain subsidiaries of the Company that own equity interests in Wynn Macau, S.A., and are secured by substantially all of the assets of Wynn Macau, S.A., the equity interests in Wynn Macau, S.A. and substantially all of the assets of Palo.

In connection with amending the Wynn Macau credit facilities, the Company expensed $17.7 million and capitalized $33.2 million of financing costs.

The Amended Wynn Macau Credit Facilities contain a requirement that Wynn Macau, S.A. must make mandatory repayments of indebtedness from specified percentages of excess cash flow. If Wynn Macau, S.A. meets a Consolidated Leverage Ratio, as defined in the Amended Wynn Macau Credit Facilities, of greater than 4.0 to 1, such repayment is defined as 50% of Excess Cash Flow, as defined in the Amended Wynn Macau Credit Facilities. If the Consolidated Leverage Ratio is equal or less than 4.0 to 1, then no repayment is required. Based on current estimates the Company does not believe that the Wynn Macau Consolidated Leverage Ratio during the year ending December 31, 2013 will exceed 4.0 to 1. Accordingly, Wynn Macau, S.A. does not expect to make any mandatory repayments pursuant to this requirement during 2013.

The Amended Wynn Macau Credit Facilities contain customary covenants restricting certain activities including, but not limited to: the incurrence of additional indebtedness, the incurrence or creation of liens on any of its property, sale and leaseback transactions, the ability to dispose of assets, and making loans or other investments. In addition, Wynn Macau was required by the financial covenants to maintain a Leverage Ratio, as defined in the Amended Wynn Macau Credit Facilities, of not greater than 3.75 to 1 as of December 31, 2012, and an Interest Coverage Ratio, as defined in the Amended Wynn Macau Credit Facilities, of not less than 2.00 to 1. Management believes that Wynn Macau was in compliance with all covenants at December 31, 2012.

In connection with the initial financing of Wynn Macau, Wynn Macau, S.A. entered into a Bank Guarantee Reimbursement Agreement with Banco Nacional Ultramarino, S.A. (“BNU”) for the benefit of the Macau government. This guarantee assures Wynn Macau, S.A.’s performance under the casino concession agreement, including the payment of premiums, fines and indemnity for any material failure to perform under the terms of the concession agreement. As of December 31, 2012, the guarantee was in the amount of 300 million Macau Patacas (approximately US$37 million) and will remain at such amount until 180 days after the end of the term of the concession agreement (2022). BNU, as issuer of the guarantee, is currently secured by a second priority security interest in the senior lender collateral package. From and after repayment of all indebtedness under the Amended Wynn Macau Credit Facilities, Wynn Macau, S.A. is obligated to promptly, upon demand by BNU, repay any claim made on the guarantee by the Macau government. BNU is paid an annual fee for the guarantee of approximately 5.2 million Macau Patacas (approximately US$0.7 million).

Redemption Price Promissory Note

Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, the Company redeemed and cancelled Aruze USA, Inc.’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Wynn Resorts’ articles of incorporation authorize redemption of the shares held by unsuitable persons at a “fair value” redemption price. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares which are subject to the terms of an existing stockholder agreement. Pursuant to the articles of incorporation, the Company issued the Redemption Note to Aruze USA, Inc., a former stockholder and related party, in redemption of the shares. The Redemption Note has a principal amount of $1.94 billion, matures on February 18, 2022 and bears interest at the rate of 2% per annum payable annually in arrears on each anniversary of the date of the Redemption Note. The Company may, in its sole and absolute discretion, at any time and from time to time, and without penalty or premium, prepay the whole or any portion of the principal or interest due under the Redemption Note. In no instance shall any payment obligation under the Redemption Note be accelerated except in the sole and absolute discretion of the Company or as specifically mandated by law. The indebtedness evidenced by the Redemption Note is and shall be subordinated in right of payment, to the extent and in the manner provided in the Redemption Note, to the prior payment in full of all existing and future obligations of Wynn Resorts and any of its affiliates in respect of indebtedness for borrowed money of any kind or nature.

The Company has recorded the fair value of the Redemption Note at its estimated present value of approximately $1.94 billion in accordance with applicable accounting guidance. In determining this fair value, the Company considered the stated maturity of the Redemption Note, its stated interest rate, and the uncertainty of the related cash flows of the Redemption Note as well as the potential effects of the following: uncertainties surrounding the potential outcome and timing of pending litigation with Aruze USA, Inc. (see Note 16); the outcome of on-going investigations by the Nevada Gaming Control Board; and other potential legal and regulatory actions. In addition, in the furtherance of various future business objectives, the Company considered its ability, at its sole option, to prepay the Redemption Note at any time in accordance with its terms without penalty. Accordingly, the Company reasonably determined that the estimated life of the Redemption Note could be less than the contractual life of the Redemption Note. When considering the appropriate rate of interest to be used to determine fair value for accounting purposes and in light of the uncertainty in the timing of the cash flows, the Company used observable inputs from a range of trading values of financial instruments with terms and lives similar to the estimated life and terms of the Redemption Note. As a result of this analysis, the Company concluded the Redemption Note’s stated rate of 2% approximated a market rate. Aruze USA, Inc., Universal Entertainment Corporation and Kazuo Okada have challenged the redemption of Aruze USA, Inc.’s shares and we are currently involved in litigation with those parties as well as related shareholder derivative litigation. The outcome of these various proceedings cannot be predicted. Any adverse judgments or settlements involving payment of a material sum of money could cause a material adverse effect on our financial condition and results of operations and could expose the Company to additional claims by third parties, including current or former investors or regulators. Any adverse judgments or settlements would reduce the Company’s profits and could limit the Company’s ability to operate its business.

$42 Million Note Payable for Aircraft

On March 30, 2007, World Travel, LLC, a subsidiary of Wynn Las Vegas, entered into a loan agreement with a principal balance of $42 million. The loan is guaranteed by Wynn Las Vegas, LLC and secured by a first priority security interest in one of the Company’s aircraft. Principal payments of $350,000 plus interest are made quarterly with a balloon payment of $28 million due at maturity, April 1, 2017. Interest is calculated at 90-day LIBOR plus 125 basis points.

$32.5 Million Note Payable for Aircraft

On May 10, 2007, World Travel G-IV, LLC, a subsidiary of Wynn Resorts, entered into a $32.5 million term loan credit facility to finance the purchase of an aircraft. Principal payments of $542,000 plus interest were made quarterly with a balloon payment of $21.1 million made on August 10, 2012. Interest was calculated at LIBOR plus 115 basis points. There were no amounts outstanding on this note as of December 31, 2012.

Fair Value of Long-Term Debt

The net book value of the Company’s outstanding first mortgage notes was $3.1 billion and $2.2 billion at December 31, 2012 and 2011, respectively. The estimated fair value of the Company’s outstanding first mortgage notes, based on recent trades (using level 2 inputs), was approximately $3.4 billion and $2.4 billion as of December 31, 2012 and 2011, respectively. The net book value of the Company’s other debt instruments, excluding the Redemption Note, was approximately $783.4 million and $1.1 billion as of December 31, 2012 and 2011, respectively. The estimated fair value of the Company’s other debt instruments was approximately $760.8 million and $1 billion as of December 31, 2012 and 2011, respectively. The estimated fair value of the Redemption Note (using level 2 inputs) was approximately $1.94 billion at December 31, 2012.

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt, including the accretion of debt discounts of $12.8 million, are as follows (amounts in thousands):


Years Ending December 31,
2013	$	1,050
2014		1,400
2015		1,400
2016		1,400
2017		905,285
Thereafter		4,885,038

	$	5,795,573

Interest Rate Swaps

12 Months Ended

Dec. 31, 2012

Interest Rate Swaps

9. Interest Rate Swaps

The Company has entered into floating-for-fixed interest rate swap arrangements in order to manage interest rate risk relating to certain of its debt facilities. These interest rate swap agreements modify the Company’s exposure to interest rate risk by converting a portion of the Company’s floating-rate debt to a fixed rate. These interest rate swaps essentially fix the interest rate at the percentages noted below; however, changes in the fair value of the interest rate swaps for each reporting period have been recorded in the increase/decrease in swap fair value in the accompanying Consolidated Statements of Income, as the interest rate swaps do not qualify for hedge accounting.

The following table presents the historical fair value of the interest rate swaps recorded in the accompanying Consolidated Balance Sheets as of December 31, 2012 and 2011. The Company utilized Level 2 inputs as described in Note 2 to determine fair value. The fair value approximates the amount the Company would pay if these contracts were settled at the respective valuation dates. Fair value is estimated based upon current, and predictions of future, interest rate levels along a yield curve, the remaining duration of the instruments and other market conditions, and therefore, is subject to significant estimation and a high degree of variability and fluctuation between periods. The fair value is adjusted, to reflect the impact of credit ratings of the counterparties or the Company, as applicable. These adjustments resulted in a reduction in the fair values as compared to their settlement values. As of December 31, 2012, the interest rate swaps are included in other long term liabilities. As of December 31, 2011, the interest rate swap liabilities were included in other current accrued liabilities.


Liability fair value:	Wynn Las Vegas		Wynn Macau		Total Interest Rate Swaps
(amounts in thousands)
December 31, 2012	$	—	$	3,938	$	3,938
December 31, 2011	$	4,628	$	2,670	$	7,298

Wynn Las Vegas Swap

In June 2012, the Company terminated its Wynn Las Vegas swap for a payment of $2.4 million. As of December 31, 2011, the liability fair value of this interest rate swap was approximately $4.6 million.

Wynn Macau Swaps

In June 2012, the Wynn Macau swap matured. As of December 31, 2011, the liability fair value of this interest rate swap was approximately $2.7 million.

Effective September 28, 2012, the Company entered into two interest rate swap agreements intended to hedge a portion of the underlying interest rate risk on borrowings under the Amended Wynn Macau Credit Facilities. Under the two swap agreements, the Company pays a fixed interest rate (excluding the applicable interest margin) of 0.73% on notional amounts corresponding to borrowings of HK$3.95 billion (approximately US$509.4 million) incurred under the Amended Wynn Macau Credit Facilities in exchange for receipts on the same amount at a variable interest rate based on the applicable HIBOR at the time of payment. These interest rate swaps fix the all-in interest rate on such amounts at 2.48% to 3.23%. These interest rate swap agreements mature in July 2017.

Effective October 31, 2012, the Company entered into a third interest rate swap agreement intended to hedge a portion of the underlying interest rate risk on borrowings under the Amended Wynn Macau Credit Facilities. Under this swap agreement, the Company pays a fixed interest rate (excluding the applicable interest margin) of 0.6763% on notional amounts corresponding to borrowings of US$243.75 million incurred under the Amended Wynn Macau Credit Facilities in exchange for receipts on the same amount at a variable rate based on the applicable LIBOR at the time of payment. This interest rate swap fixes the all-in interest rate on such amounts at 2.4263% to 3.1763%. This interest rate swap agreement matures in July 2017.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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+ Details

Related Party Transactions

12 Months Ended

Dec. 31, 2012

Related Party Transactions

10. Related Party Transactions

Related Party Share Redemption

Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, the Company redeemed and cancelled Aruze USA, Inc.’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Wynn Resorts’ articles of incorporation authorizes redemption of the shares held by unsuitable persons at a “fair value” redemption price. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares which are subject to the terms of an existing stockholder agreement. Pursuant to the articles of incorporation, the Company issued the Redemption Price Promissory Note to Aruze USA, Inc., a former stockholder and related party, in redemption of the shares. Aruze USA, Inc., Universal Entertainment Corporation and Kazuo Okada have challenged the redemption of Aruze USA, Inc.’s shares and we are currently involved in litigation with those parties as well as related shareholder derivative litigation. The outcome of these various proceedings cannot be predicted. Any adverse judgments or settlements involving payment of a material sum of money could cause a material adverse effect on our financial condition and results of operations and could expose the Company to additional claims by third parties, including current or former investors or regulators. Any adverse judgments or settlements would reduce the Company’s profits and could limit the Company’s ability to operate its business.

Amounts Due to Officers

The Company periodically provides services to Stephen A. Wynn, Chairman of the Board of Directors and Chief Executive Officer (“Mr. Wynn”), and certain other officers and directors of the Company, including the personal use of employees, construction work and other personal services. Mr. Wynn and other officers and directors have deposits with the Company to prepay any such items, which are replenished on an ongoing basis as needed. As of December 31, 2012 and 2011, Mr. Wynn and the other officers and directors had a net deposit balance with the Company of $1.0 million and $0.4 million, respectively.

Villa Suite Lease

On March 18, 2010, Mr. Wynn and Wynn Las Vegas entered into an Amended and Restated Agreement of Lease (the “SW Lease”) for a villa suite to serve as Mr. Wynn’s personal residence. The SW Lease amends and restates a prior lease. The SW Lease was approved by the Audit Committee of the Board of Directors of the Company. The term of the SW Lease commenced as of March 1, 2010 and runs concurrent with Mr. Wynn’s employment agreement with the Company; provided that either party may terminate on 90 days notice. Pursuant to the SW Lease, the rental value of the villa suite will be treated as imputed income to Mr. Wynn, and will be equal to the fair market value of the accommodations provided. Effective March 1, 2010, and for the first two years of the term of the SW Lease, the rental value was $503,831 per year. Effective March 1, 2012, the rental value is $440,000 per year based on the current fair market value as established by the Audit Committee of the Company with the assistance of an independent third-party appraisal. The rental value for the villa suite will be re-determined every two years during the term of the lease by the Audit Committee, with the assistance of an independent third-party appraisal. Certain services for, and maintenance of, the villa suite are included in the rental.

Home Purchase

In May 2010, the Company entered into an employment agreement with Linda Chen, who is the Chief Operating Officer of Wynn Macau. The term of the employment agreement is through February 24, 2020. Under the terms of the employment agreement, the Company purchased a home in Macau for use by Ms. Chen and has made renovations to the home with total costs of $9.3 million through December 31, 2012. The employment agreement also provides Ms. Chen the use of an automobile in Macau. Upon the occurrence of certain events set forth below, Ms. Chen has the option to purchase the home at the then fair market value of the home (as determined by an independent appraiser) less a discount equal to ten percentage points multiplied by each anniversary of the term of the agreement that has occurred (the “Discount Percentage”). The option is exercisable for (a) no consideration at the end of the term, (b) $1.00 in the event of termination of Ms. Chen’s employment without “cause” or termination of Ms. Chen’s employment for “good reason” following a “change of control” and (c) at a price based on the applicable Discount Percentage in the event Ms. Chen terminates the agreement due to material breach by the Company. Upon Ms. Chen’s termination for “cause,” Ms. Chen will be deemed to have elected to purchase the Macau home based on the applicable Discount Percentage unless the Company determines to not require Ms. Chen to purchase the home. If Ms. Chen’s employment terminates for any other reason before the expiration of the term (e.g., because of her death or disability or due to revocation of gaming license), the option will terminate.

Plane Option Agreement

On January 3, 2013, the Company and Mr. Wynn entered into an agreement pursuant to which Mr. Wynn agreed to the termination of a previously granted option to purchase an approximately two acre tract of land located on the Wynn Las Vegas golf course and in consideration the Company granted Mr. Wynn the right to purchase any or all of the aircraft owned by the Company or its direct wholly owned subsidiaries. The aircraft purchase option is exercisable upon 30 days written notice and at a price equal to the book value of such aircraft, and will terminate on the date of termination of the employment agreement between the Company and Mr. Wynn, which expires in October 2020.

The “Wynn” Surname Rights Agreement

On August 6, 2004, the Company entered into agreements with Mr. Wynn that confirm and clarify the Company’s rights to use the “Wynn” name and Mr. Wynn’s persona in connection with its casino resorts. Under the parties’ Surname Rights Agreement, Mr. Wynn granted the Company an exclusive, fully paid-up, perpetual, worldwide license to use, and to own and register trademarks and service marks incorporating the “Wynn” name for casino resorts and related businesses, together with the right to sublicense the name and marks to its affiliates. Under the parties’ Rights of Publicity License, Mr. Wynn granted the Company the exclusive, royalty-free, worldwide right to use his full name, persona and related rights of publicity for casino resorts and related businesses, together with the ability to sublicense the persona and publicity rights to its affiliates, until October 24, 2017.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Property Charges and Other

12 Months Ended

Dec. 31, 2012

Property Charges and Other

11. Property Charges and Other

Property charges and other consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012		2011		2010
Net loss on assets abandoned/retired for remodel or sold	$	29,524	$	19,708	$	10,270
Donation to University of Macau Foundation		4,083		109,563		—
Loss on contract termination		315		—		14,949
Loss on show cancellation		6,056		1,378		—

	$	39,978	$	130,649	$	25,219

Property charges and other generally include costs related to the retirement of assets for remodels and asset abandonments. Property charges and other for the year ended December 31, 2012 include a remodel of two Las Vegas restaurants, charges associated with the termination of a Las Vegas show that ended its run in November 2012, and miscellaneous renovations and abandonments at our resorts.

Property charges and other for the year ended December 31, 2011 include the present value of a charitable contribution made by Wynn Macau to the University of Macau Development Foundation. This contribution consists of a $25 million payment made in May 2011, and a commitment for additional donations of $10 million each year for the calendar years 2012 through 2022 inclusive, for a total of $135 million. The amount reflected in the accompanying Consolidated Statements of Income has been discounted using the Company’s estimated borrowing rate over the time period of the remaining committed payments. In accordance with accounting standards for contributions, subsequent accretion of the discount is being recorded as additional donation expense and included in Property charges and other. Also included are the write off of certain off-site golf memberships by Wynn Las Vegas, miscellaneous renovations and abandonments at the Company’s resorts, including modifications of the Encore at Wynn Las Vegas retail esplanade, closure of the Blush nightclub and the write off of certain costs related to a show that ended its run in Las Vegas in April 2011.

Property charges and other for the year ended December 31, 2010 include a contract termination payment of $14.9 million related to a management contract for certain of the nightclubs at Wynn Las Vegas as well as miscellaneous renovations, abandonments and gain/loss on sale of equipment at Wynn Las Vegas and Wynn Macau.

Stockholders' Equity

12 Months Ended

Dec. 31, 2012

Stockholders' Equity

12. Stockholders’ Equity

Common Stock

The Company is authorized to issue up to 400,000,000 shares of its common stock, $0.01 par value per share (the “Common Stock”). As of December 31, 2012 and 2011, 100,866,712 shares and 125,080,998 shares, respectively, of the Company’s Common Stock were outstanding. Except as otherwise provided by the Company’s articles of incorporation or Nevada law, each holder of the Common Stock is entitled to one vote for each share held of record on each matter submitted to a vote of stockholders. Holders of the Common Stock have no cumulative voting, conversion, redemption or preemptive rights or other rights to subscribe for additional shares. Subject to any preferences that may be granted to the holders of the Company’s preferred stock, each holder of Common Stock is entitled to receive ratably such dividends as may be declared by the Board of Directors out of funds legally available therefore, as well as any distributions to the stockholders and, in the event of liquidation, dissolution or winding up of the Company, is entitled to share ratably in all assets of the Company remaining after payment of liabilities.

The Board of Directors of Wynn Resorts has authorized an equity repurchase program of up to $1.7 billion. The repurchase program may include repurchases from time to time through open market purchases or negotiated transactions, depending upon market conditions. As of December 31, 2012, the Company had repurchased a cumulative total of 12,863,730 shares of the Company’s Common Stock for a net cost of $1.1 billion under the program. Under the repurchase program, there were no repurchases made during the years ended December 31, 2012, 2011 and 2010.

During 2012 and 2011, the Company repurchased a total of 7,640 and 51,136 shares, respectively, in satisfaction of tax withholding obligations on vested restricted stock.

Preferred Stock

The Company is authorized to issue up to 40,000,000 shares of undesignated preferred stock, $0.01 par value per share (the “Preferred Stock”). As of December 31, 2012, the Company had not issued any Preferred Stock. The Board of Directors, without further action by the holders of Common Stock, may designate and issue shares of Preferred Stock in one or more series and may fix or alter the rights, preferences, privileges and restrictions, including the voting rights, redemption provisions (including sinking fund provisions), dividend rights, dividend rates, liquidation rates, liquidation preferences, conversion rights and the description and number of shares constituting any wholly unissued series of Preferred Stock. The issuance of such shares of Preferred Stock could adversely affect the rights of the holders of Common Stock. The issuance of shares of Preferred Stock under certain circumstances could also have the effect of delaying or preventing a change of control of the Company or other corporate action.

Redemption of Securities

Wynn Resorts’ articles of incorporation provide that, to the extent a gaming authority makes a determination of unsuitability or to the extent the Board of Directors determines, in its sole discretion, that a person is likely to jeopardize the Company or any affiliates application for, receipt of, approval for, right to the use of, or entitlement to, any gaming license, Wynn Resorts may redeem shares of its capital stock that are owned or controlled by an unsuitable person or its affiliates. The redemption price will be the amount, if any, required by the gaming authority or, if the gaming authority does not determine the price, the sum deemed by the Board of Directors to be the fair value of the securities to be redeemed. If Wynn Resorts determines the redemption price, the redemption price will be capped at the closing price of the shares on the principal national securities exchange on which the shares are listed on the trading day before the redemption notice is given. If the shares are not listed on a national securities exchange, the redemption price will be capped at the closing sale price of the shares as quoted on The NASDAQ Global Select Market or if the closing price is not reported, the mean between the bid and ask prices, as quoted by any other generally recognized reporting system. Wynn Resorts’ right of redemption is not exclusive of any other rights that it may have or later acquire under any agreement, its bylaws or otherwise. The redemption price may be paid in cash, by promissory note, or both, as required, and pursuant to the terms established by, the applicable Gaming Authority and, if not, as the Board of Directors of Wynn Resorts elects.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Noncontrolling Interest

12 Months Ended

Dec. 31, 2012

Noncontrolling Interest

13. Noncontrolling Interest

In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 shares (27.7%) of this subsidiary’s common stock (the “Wynn Macau Limited IPO”). Proceeds to the Company as a result of this transaction were approximately $1.8 billion, net of transaction costs of approximately $84 million. The shares of Wynn Macau, Limited were not and will not be registered under the Securities Act and may not be offered or sold in the United States absent a registration under the Securities Act, or an applicable exception from such registration requirements. Net income attributable to noncontrolling interest was $226.7 million, $211.7 million and $156.5 million for the years ended December 31, 2012, 2011 and 2010, respectively.

On November 16, 2011, the Wynn Macau, Limited Board of Directors approved a HK$1.20 per share dividend. The total dividend amount was approximately $800 million and the Company’s share of this dividend was $578.3 million. A reduction of $221.6 million was made to noncontrolling interest in the accompanying Consolidated Balance Sheets to reflect the payment of this dividend.

On November 2, 2010, the Wynn Macau, Limited Board of Directors approved a HK$0.76 per share dividend. The total dividend amount was approximately $508 million and the Company’s share of this dividend was $367 million. A reduction of $140.7 million was made to noncontrolling interest in the accompanying Consolidated Balance Sheets to reflect the payment of this dividend.

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References + Details

Benefit Plans

12 Months Ended

Dec. 31, 2012

Benefit Plans

14. Benefit Plans

Employee Savings Plan

The Company established a retirement savings plan under Section 401(k) of the Internal Revenue Code covering its U.S. non-union employees in July 2000. The plan allows employees to defer, within prescribed limits, a percentage of their income on a pre-tax basis through contributions to this plan. The Company suspended matching contributions to this plan effective March 2009 and did not record any expense for matching contributions for the years ended December 31, 2012, 2011 and 2010, respectively.

Wynn Macau also operates a defined contribution retirement benefits plan (the “Wynn Macau Plan”). Eligible employees are allowed to contribute 5% of their salary to the Wynn Macau Plan and the Company matches any contributions. The assets of the Wynn Macau Plan are held separately from those of the Company in an independently administered fund. The Company’s matching contributions vest to the employee at 10% per year with full vesting in ten years. Forfeitures of unvested contributions are used to reduce the Company’s liability for its contributions payable. For the period from March 1, 2009 through April 30, 2010, the Company suspended its matching contributions. The contributions were reinstated effective May 1, 2010. During the years ended December 31, 2012, 2011 and 2010, the Company recorded an expense for matching contributions of $7.1 million, $6.6 million and $3.3 million, respectively.

Multi-employer pension plan

Wynn Las Vegas contributes to a multi-employer defined benefit pension plan for certain of its union employees under the terms of the Southern Nevada Culinary and Bartenders Union collective-bargaining agreement. The collective-bargaining agreement that covers these union-represented employees expires in 2016. The legal name of the multi-employer pension plan is the Southern Nevada Culinary and Bartenders Pension Plan (the “Plan”) (EIN: 88-6016617 Plan Number: 001). The Company recorded an expense of $8.6 million, $7.6 million and $6.8 million for contributions to the Plan for the years ended December 31, 2012, 2011 and 2010, respectively. For the 2011 plan year, the most recent for which plan data is available, the Company’s contributions were identified by the Plan to exceed 5% of total contributions for that year. Based on information the Company received from the Plan, it was certified to be in neither endangered nor critical status for the 2011 plan year. Risks of participating in a multi-employer plan differs from single-employer plans for the following reasons: (1) assets contributed to a multi-employer plan by one employer may be used to provide benefits to employees of other participating employers; (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (3) if a participating employer stops participating, it may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

Stock-Based Compensation

The Company established the 2002 Stock Incentive Plan (the “WRL Stock Plan”) to provide for the grant of (i) incentive stock options, (ii) compensatory (i.e., nonqualified) stock options, and (iii) nonvested shares of Common Stock of Wynn Resorts, Limited. Employees, directors (whether employee or nonemployee) and independent contractors or consultants of the Company are eligible to participate in the WRL Stock Plan. However, only employees of the Company are eligible to receive incentive stock options.

A maximum of 12,750,000 shares of Common Stock are reserved for issuance under the WRL Stock Plan. As of December 31, 2012, 4,087,064 shares remain available for the grant of stock options or nonvested shares of Common Stock.

Options are granted at the current market price at the date of grant. The WRL Stock Plan provides for a variety of vesting schedules all determined at the time of grant. All options expire ten years from the date of grant.

A summary of option activity under the WRL Stock Plan as of December 31, 2012, and the changes during the year then ended is presented below:


	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2012		2,729,124		$	63.49
Granted		173,830		$	101.60
Exercised		(332,576	)	$	46.86
Canceled/Expired		(172,558	)	$	86.65

Outstanding at December 31, 2012		2,397,820		$	66.89		6.08	$	110,155,465

Fully vested and expected to vest at December 31, 2012		2,285,904		$	66.60		6.07	$	105,717,827

Exercisable at December 31, 2012		311,290		$	63.00		3.96	$	15,907,396

The following information is provided for stock options of the WRL Stock Plan (amounts in thousands, except weighted average grant date fair value):


	Years Ended December 31,
	2012		2011		2010
Weighted average grant date fair value	$	33.03	$	48.31	$	40.32

Intrinsic value of stock options exercised	$	22,416	$	36,776	$	63,095

Net cash proceeds from the exercise of stock options	$	15,583	$	23,789	$	66,186

Tax benefits realized from the exercise of stock options and vesting of restricted stock	$	5,537	$	11,176	$	10,480

As of December 31, 2012, there was a total of $53.4 million of unamortized compensation related to stock options, which is expected to be recognized over the vesting period of the related grants through May 2019.

A summary of the status of the WRL Stock Plan’s nonvested shares as of December 31, 2012 and changes during the year then ended is presented below:


	Shares			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2012		794,500		$	98.08
Granted		41,500			110.04
Vested		(153,000	)		76.93
Canceled		(31,500	)		109.34

Nonvested at December 31, 2012		651,500		$	103.27

The following information is provided for nonvested stock of the WRL Stock Plan (amounts in thousands, except weighted average grant date fair value):


	Years Ended December 31,
	2012		2011		2010
Weighted average grant date fair value	$	110.04	$	129.55	$	107.03

Fair value of shares vested	$	15,653	$	24,865	$	2,833

Approximately $42.5 million of unamortized compensation cost relating to nonvested shares of Common Stock at December 31, 2012 will be recognized as compensation over the vesting period of the related grants through October 2021.

Wynn Macau, Limited Stock Incentive Plan

The Company’s majority owned subsidiary Wynn Macau, Limited adopted a stock incentive plan effective September 16, 2009 (the “WML Stock Plan”). The purpose of the WML Stock Plan is to reward participants, which may include directors and employees of Wynn Macau, Limited who have contributed towards enhancing the value of Wynn Macau and its shares. A maximum of 518,750,000 shares have been reserved for issuance under the WML Stock Plan. As of December 31, 2012, 2.2 million options have been granted.

A summary of option activity under the WML Stock Plan as of December 31, 2012, and the changes during the year then ended is presented below:


	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2012		1,350,000	$	1.98
Granted		760,000		2.46
Exercised		—		—

Outstanding at December 31, 2012		2,110,000		2.15		8.3	$	1,416,513

Fully vested and expected to vest at December 31, 2012		2,110,000		2.15		8.3	$	1,416,513

Exercisable at December 31, 2012		430,000		1.77		7.5	$	452,880

The following information is provided for stock options of the WML Stock Plan (amounts in thousands, except weighted average grant date fair value):


	Years Ended December 31,
	2012		2011
Weighted average grant date fair value	$	0.78	$	0.75

Intrinsic value of stock options exercised	$	—	$	99.2

Net cash proceeds from the exercise of stock options	$	—	$	70.2

As of December 31, 2012, there was a total of $1.0 million of unamortized compensation related to stock options, which is expected to be recognized over the vesting period of the related grants through June 2017.

Compensation Cost

The Company uses the Black-Scholes valuation model to determine the estimated fair value for each option grant issued, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Expected volatility is based on implied and historical factors related to the Company’s Common Stock. Expected term represents the weighted average time between the option’s grant date and its exercise date. The risk-free interest rate used for each period presented is based on the U.S. Treasury yield curve for WRL Stock Plan options or the Hong Kong Exchange Fund rates for the WML Stock Plan options at the time of grant for the period equal to the expected term.

The fair value of stock options granted under the WRL Stock Plan was estimated on the date of grant using the following weighted-average assumptions:


	Years Ended December 31,
	2012			2011			2010
Expected dividend yield		4.0	%		4.0	%		1.23	%
Expected stock price volatility		48.8	%		49.7	%		60.9	%
Risk-free interest rate		1.18	%		2.4	%		3.1	%
Expected average life of options (years)		7.0			6.5			6.9

The fair value of stock options granted under the WML Stock Plan was estimated on the date of grant using the following assumptions:


	Years Ended December 31,
	2012			2011			2010
Expected dividend yield		4.0	%		4.0	%		—	%
Expected stock price volatility		49.0	%		37.8	%		40.8	%
Risk-free interest rate		0.67	%		2.1	%		2.4	%
Expected average life of options (years)		6.5			6.5			6.5

The total compensation cost for both the WRL Stock Plan and the WML Stock Plan is allocated as follows (amounts in thousands):


	Years Ended December 31,
	2012		2011		2010
Casino	$	4,794	$	8,997	$	10,497
Rooms		313		383		455
Food and beverage		178		429		301
Entertainment, retail and other		43		24		87
General and administrative		14,320		14,048		15,828

Total stock-based compensation expense		19,648		23,881		27,168
Total stock-based compensation capitalized		195		886		617

Total stock-based compensation costs	$	19,843	$	24,767	$	27,785

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2439-114920

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2417-114920

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2410-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=21916443&loc=d3e4179-114921

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 4, 7, 16, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes

15. Income Taxes

Consolidated income (loss) before taxes for domestic and foreign operations consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012			2011		2010
Domestic	$	(87,122	)	$	49,521	$	(239,125	)
Foreign		820,120			756,046		576,168

Total	$	732,998		$	805,567	$	337,043

The Company’s provision (benefit) for income taxes consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012			2011			2010
Current
Federal	$	5,912		$	—		$	—
Foreign		2,042			(3,386	)		1,560

	$	7,954		$	(3,386	)	$	1,560

Deferred
Federal	$	(3,655	)	$	(10,809	)	$	9,640
Foreign		—			(5,351	)		9,247

		(3,655	)		(16,160	)		18,887

Total	$	4,299		$	(19,546	)	$	20,447

The income tax provision (benefit) differs from that computed at the federal statutory corporate tax rate as follows:


	Years Ended December 31,
	2012			2011			2010
Federal statutory rate		35.0%			35.0%			35.0%
Foreign tax rate differential		(25.6%	)		(21.3%	)		(38.8%	)
Non-taxable foreign income		(15.4%	)		(13.0%	)		(24.8%	)
Foreign tax credits, net of valuation allowance		1.7%			(80.8%	)		(104.9%	)
Repatriation of foreign earnings		0.0%			76.3%			134.9%
Other, net		3.6%			0.4%			1.7%
Valuation allowance, other		1.3%			1.0%			3.0%

Effective tax rate		0.6%			(2.4%	)		6.1%

On November 30, 2010, Wynn Macau, S.A. received a second 5-year exemption from Macau’s 12% Complementary Tax on casino gaming profits, thereby exempting the casino gaming profits of Wynn Macau, S.A. through December 31, 2015. Accordingly for the years ended December 31, 2012, 2011, and 2010, the Company was exempted from the payment of $87.1 million, $82.7 million, and $64.4 million in such taxes or $0.84, $0.66 and $0.51 per share, respectively. The Company’s non-gaming profits remain subject to the Macau Complementary Tax and its casino winnings remain subject to the Macau Special Gaming tax and other levies in accordance with its concession agreement.

In July of 2011, Wynn Macau, S.A. received a 5-year extension of its agreement with the Macau Special Administrative Region that provides for an annual payment of MOP $15.5 million (approximately $1.9 million U.S. dollars) as complementary tax otherwise due by shareholders of Wynn Macau, S.A. on dividend distributions through 2015. As a result of the shareholder dividend tax agreements, income tax expense includes $1.9 million and $1.9 million for the years ended December 31, 2012 and 2011.

The Macau special gaming tax is 35% of gross gaming revenue. U.S. tax laws only allow a foreign tax credit up to 35% of “net” foreign source income. In February 2010, the Company and the IRS entered into a Pre-Filing Agreement (“PFA”) providing that the Macau Special Gaming Tax qualifies as a tax paid in lieu of an income tax and could be claimed as a U.S. foreign tax credit.

During December 31, 2012, the Company did not repatriate any earnings of Wynn Macau, S.A. and consequently did not generate foreign tax credits in the current year. During the years ended December 31, 2011 and 2010, the Company recognized tax benefits of $647.6 million and $955.2 million, respectively (net of valuation allowance and uncertain tax positions) for foreign tax credits generated applicable to the earnings of Wynn Macau, S.A.

Accounting standards require recognition of a future tax benefit to the extent that realization of such benefit is more likely than not. Otherwise, a valuation allowance is applied. During 2012 and 2011, the aggregate valuation allowance for deferred tax assets increased by $19.1 million and $526.6 million, respectively. The 2012 and 2011 increases are primarily related to foreign tax credit carryforwards and other foreign deferred tax assets that are not considered more likely than not realizable.

The Company recorded tax benefits resulting from the exercise of nonqualified stock options and the value of vested restricted stock and accrued dividends of $5.5 million, $11.2 million, and $10.5 million as of December 31, 2012, 2011, and 2010, respectively, in excess of the amounts reported for such items as compensation costs under accounting standards related to stock-based compensation. The Company uses a with-and-without approach to determine if the excess tax deductions associated with compensation costs have reduced income taxes payable.

The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
Deferred tax assets—U.S.:
Current:
Receivables, inventories, accrued liabilities and other	$	38,488		$	36,753
Less: valuation allowance		(35,386	)		(33,525	)

		3,102			3,228

Long-term:
Foreign tax credit carryforwards		1,843,757			1,848,185
Intangibles and related other		26,773			31,215
Stock based compensation		19,113			17,001
Pre-opening costs		14,584			16,671
Other		12,320			9,473

		1,916,547			1,922,545
Less: valuation allowance		(1,762,090	)		(1,753,667	)

		154,457			168,878

Deferred tax liabilities—U.S.:
Current:
Prepaid insurance, maintenance and taxes		(6,280	)		(6,803	)

		(6,280	)		(6,803	)

Long-term:
Property and equipment		(199,956	)		(223,172	)

		(199,956	)		(223,172	)

Deferred tax assets – Foreign:
Current:
Accrued liabilities…		156			—
Less: valuation allowance		(156	)		—

		—			—

Long-term:
Net operating loss carryforwards		17,157			17,593
Property and equipment		11,973			5,345
Other		4,783			2,352
Less: valuation allowance		(33,913	)		(25,290	)

		—			—

Net deferred tax liability	$	(48,677	)	$	(57,869	)

As of December 31, 2012, the Company had foreign tax credit carryforwards (net of uncertain tax positions) of $1,844 million. Of this amount, $662.2 million will expire in 2018, $110.9 million will expire in 2019, $530.4 million in 2020, and $540.3 million in 2021. The Company has no U.S. tax loss carryforwards. The Company incurred foreign tax losses of $85.4 million, $70.9 million, and $89.4 million during the tax years ended December 31, 2012, 2011 and 2010, respectively. These foreign tax loss carryforwards expire in 2015, 2014, and 2013, respectively. The Company incurred a U.S. capital loss of $3.6 million during the year ended December 31, 2011. The U.S. capital loss carryforward will expire in 2016.

In assessing the need for a valuation allowance, the Company does not consider forecasted future operating results when scheduling the realization of deferred tax assets and the required valuation allowance but instead relies solely on the reversal of net taxable temporary differences. The valuation allowance for foreign tax credits was determined by scheduling the existing U.S. taxable temporary differences that are expected to reverse and result in “net” foreign source income during the 10-year foreign tax credit carryover period.

As of December 31, 2012 and 2011, the Company had valuation allowances of $1,786 million and $1,777 million, respectively, provided on foreign tax credits expected to expire unutilized and valuation allowances of $11.1 million and $9.7 million provided on other U.S. deferred tax assets. The Company has recorded a valuation allowance against all of its foreign deferred tax assets.

Except for $604.6 million of accumulated earnings which the Company plans on repatriating, the Company has not provided deferred U.S. income taxes or foreign withholding taxes on temporary differences of $333.6 million and $300.6 million as of December 31, 2012 and 2011, respectively, which are indefinitely reinvested and will be used to fund future operations or expansion. The amount of the unrecognized deferred tax liability associated with these temporary differences is approximately $116.8 million and $105.2 million for the years ended December 31, 2012 and 2011. Deferred income taxes, net of foreign tax credits, are provided for foreign earnings planned for repatriation. For the years ended December 31, 2012 and 2011, the Company repatriated $0 and $578.2 million from Wynn Macau, Limited. The amounts repatriated were used to fund domestic operations, to provide additional U.S. liquidity, and to fund dividends to the Company’s shareholders.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in thousands):


	As of December 31,
	2012			2011			2010
Balance—beginning of year	$	85,498		$	83,834		$	148,365
Additions based on tax positions of the current year		8,140			12,427			13,164
Additions based on tax positions of prior years		—			—			694
Reductions for tax positions of prior years		—			—			—
Settlements		—			—			(78,389	)
Lapses in statutes of limitations		(9,349	)		(10,763	)		—

Balance—end of year	$	84,289		$	85,498		$	83,834

As of December 31, 2012, 2011, and 2010 unrecognized tax benefits of $55.2 million, $60.4 million, and $48.0 million respectively, were recorded as reductions to the U.S. foreign tax credit deferred tax asset and the foreign net operating loss deferred tax asset. As of December 31, 2012, 2011, and 2010, unrecognized tax benefits of $29.1 million, $25.1 million, and $35.9 million, respectively, were recorded in Other Long Term Liabilities.

As of December 31, 2012, 2011 and 2010, $18.8 million, $24.2 million, and $17.9 million, respectively, of unrecognized tax benefit would, if recognized, impact the effective tax rate.

The Company recognizes penalties and interest related to unrecognized tax benefits in the provision for income taxes. During the years ended December 31, 2012 and 2011, the Company recognized interest and penalties of $0.3 million and $0.04 million, respectively. The Company recognized no interest or penalties during the year ended December 31, 2010.

The Company anticipates that the 2008 statute of limitations will expire in the next 12 months for certain foreign tax jurisdictions. Also, the Company’s unrecognized tax benefits include certain income tax accounting methods. These accounting methods govern the timing and deductibility of income tax deductions. As a result, the Company’s unrecognized tax benefits could increase by a range of $0 to $4.0 million over the next 12 months.

The Company files income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. The Company’s income tax returns are subject to examination by the IRS and other tax authorities in the locations where it operates. The Company’s 2002 to 2008 domestic income tax returns remain subject to examination by the IRS to the extent of tax attributes carryforwards to future years. The Company’s 2009 to 2011 domestic income tax returns also remain subject to examination by the IRS. The Company’s 2008 to 2011 Macau income tax returns remain subject to examination by the Macau Finance Bureau.

In April 2012, the Company reached an agreement with the Appellate division of the IRS regarding issues raised during the examination of the 2006 through 2009 U.S. income tax returns. The settlement with the Appellate division did not impact the Company’s unrecognized tax benefits. The settlement of the 2006 through 2009 examination issues resulted in a cash tax payment of $1.3 million and the utilization of $3.1 million and $0.9 million in foreign tax credit and general business credit carryforwards, respectively.

During December 2012, the IRS completed an examination of the Company’s 2010 U.S. income tax return and had no changes. For tax years 2011 and 2012, the Company is participating in the IRS Compliance Assurance Program (“CAP”). Under the CAP program, the IRS and the taxpayer work together in a pre-filing environment to examine transactions and issues and thus complete the tax examination before the tax return is filed. In February 2013, the Company received notification that it had been accepted into the IRS CAP for the 2013 tax year. The Company believes the IRS will complete their examination of the 2011 tax year in the next 12 months. The Company does not expect a change in its unrecognized tax benefits as a result of the completion of the examination.

During August 2011, Wynn Macau, S.A. settled an appeal related to the Macau Finance Bureau’s examination of its 2006 and 2007 Macau Complementary Tax returns. As part of the settlement, the Company paid $1.1 million in Macau Complementary tax. As the result of the exam settlement and the expiration of the statute of limitations for the 2006 Macau Complementary tax return, the total amount of unrecognized tax benefits decreased by $10.8 million.

On December 31, 2012, the statute of limitations for the 2007 Macau Complementary tax return expired. As a result, the Company’s unrecognized tax benefits decreased by $9.3 million.

In July 2012, the Macau Finance Bureau commenced an examination of the 2008 Macau income tax return of Wynn Macau, S.A. In November 2012, the Company received the results of the examination. While no additional tax was due, adjustments were made to the Company’s foreign net operating loss carryforwards.

In January 2013, the Macau Finance Bureau examined the 2009 and 2010 Macau income tax returns of Palo, which is a co-holder of the land concession for the resort in Cotai. The exam resulted in no change to the tax returns.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies

16. Commitments and Contingencies

Wynn Macau

Land Concession Contract. Wynn Macau, S.A. has entered into a land concession contract for the land on which Wynn Macau is located. Under the land concession contract, Wynn Macau, S.A. leases a parcel of approximately 16 acres from the government for an initial term of 25 years, with a right to renew for additional periods with government approval. Wynn Macau, S.A. has made payments to the Macau government under the land concession contract totaling $56.9 million, including interest. During the term of the land concession contract, Wynn Macau, S.A. is required to make annual lease payments of up to $525,000.

Cotai Development and Land Concession Contract. In September 2011, Palo and Wynn Resorts (Macau) S.A., each an indirect subsidiary of Wynn Macau Limited, formally accepted the terms and conditions of a draft land concession contract from the Macau government for approximately 51 acres of land in the Cotai area of Macau. On May 2, 2012, the land concession contract was gazetted by the government of Macau evidencing the final step in the granting of the land concession. The Company is constructing a full scale integrated resort containing a casino, luxury hotel, convention, retail, entertainment and food and beverage offerings on this land. The Company estimates the project budget to be in the range of $3.5 billion to $4.0 billion. The Company expects to enter into a guaranteed maximum price contract for the project construction costs in the first half of 2013. We expect to open our resort in Cotai during the first half of 2016.

The initial term of the land concession contract is 25 years from May 2, 2012, and it may be renewed with government approval for successive periods. The total land premium payable, including interest as required by the land concession contract, is $193.4 million. An initial payment of $62.5 million was paid in December 2011, with eight additional semi-annual payments of approximately $16.4 million each (which includes interest at 5%) due beginning November 2012. As of December 31, 2012, the Company has recorded this obligation and related asset with $27.9 million included as a current liability and $76.2 million included as a long-term liability. The Company will also be required to make annual lease payments of $0.8 million during the resort construction period and annual payments of approximately $1.1 million once the development is completed.

Cotai Land Agreement. On May 10, 2012, the Company made a $50 million payment to an unrelated third party in consideration of that party’s relinquishment of certain rights in and to any future development on the Cotai land noted above.

Leases and other arrangements

The Company is the lessor under several retail leases and has entered into license and distribution agreements for several additional retail outlets. The Company also is a party to joint venture agreements for the operation of one retail outlet and the Ferrari and Maserati automobile dealership at Wynn Las Vegas. The lease agreements include minimum base rents with contingent rental clauses.

The following table presents the future minimum rentals to be received under the operating leases (amounts in thousands):


Years Ending December 31,
2013	$	34,728
2014		35,151
2015		34,435
2016		31,771
2017		22,379
Thereafter		1,982

	$	160,446

The total future minimum rentals do not include contingent rental. Contingent rentals were $94 million, $73.2 million and $42.5 million for the years ended December 31, 2012, 2011 and 2010, respectively.

In addition, the Company is the lessee under leases for office space in Las Vegas, Macau and certain other locations, warehouse facilities, the land underlying the Company’s aircraft hangar and certain office equipment.

At December 31, 2012, the Company was obligated under non-cancelable operating leases to make future minimum lease payments as follows (amounts in thousands):


Years Ending December 31,
2013	$	5,775
2014		4,846
2015		3,882
2016		2,962
2017		1,106
Thereafter		3,944

	$	22,515

Rent expense for the years ended December 31, 2012, 2011 and 2010, was $21.5 million, $20.2 million, $21.6 million, respectively.

Employment Agreements

The Company has entered into employment agreements with several executive officers, other members of management and certain key employees. These agreements generally have three- to five-year terms and typically indicate a base salary and often contain provisions for discretionary bonuses. Certain of the executives are also entitled to a separation payment if terminated without “cause” or upon voluntary termination of employment for “good reason” following a “change of control” (as these terms are defined in the employment contracts).

Litigation

In addition to the actions noted below, the Company’s affiliates are involved in litigation arising in the normal course of business. In the opinion of management, such litigation will not have a material effect on the Company’s financial condition, results of operations or cash flows.

Atlantic-Pacific Capital

On May 3, 2010, Atlantic-Pacific Capital, Inc. (“APC”) filed an arbitration demand with JAMS, a private alternative dispute resolution provider, regarding an agreement with the Company. The action concerns a claim for compensation of approximately $32 million pursuant to an agreement entered into between APC and the Company on or about March 30, 2008 whereby APC was engaged to raise equity capital for an investment vehicle sponsored by the Company. APC is seeking compensation unrelated to the investment vehicle. The Company has denied APC’s claims for compensation. The Company filed a Complaint for Damages and Declaratory Relief against APC in the Eighth Judicial District Court, Clark County, Nevada, on May 10, 2010, which APC removed to the United States District Court, District of Nevada. In March 2011, the District Court denied APC’s motion to compel arbitration, and dismissed the action. APC appealed, and on November 13, 2012, the United States Court of Appeals for the Ninth Circuit reversed the District Court and compelled arbitration. The matter is proceeding in arbitration, and an arbitrator recently has been selected. Management believes that APC’s claims against the Company are without merit, and the Company continues to defend this matter vigorously.

Determination of Unsuitability and Redemption of Aruze USA, Inc. and Affiliates

On February 18, 2012, Wynn Resorts’ Gaming Compliance Committee concluded an investigation after receiving an independent report by Freeh, Sporkin & Sullivan, LLP (the “Freeh Report”) detailing a pattern of misconduct by Aruze USA, Inc., at the time a stockholder of Wynn Resorts, Universal Entertainment Corporation, Aruze USA, Inc.’s parent company, and Kazuo Okada, the majority shareholder of Universal Entertainment Corporation, who, until February 21, 2013, was also a member of Wynn Resorts’ Board of Directors and was at the time a director of Wynn Macau, Limited. The factual record presented in the Freeh Report included evidence that Aruze USA, Inc., Universal Entertainment Corporation and Mr. Okada had provided valuable items to certain foreign gaming officials who were responsible for regulating gaming in a jurisdiction in which entities controlled by Mr. Okada were developing a gaming resort. Mr. Okada has denied the impropriety of such conduct to members of the Board of Directors of Wynn Resorts and Mr. Okada has refused to acknowledge or abide by Wynn Resorts’ anti-bribery policies and has refused to participate in the training all other directors have received concerning these policies.

Based on the Freeh Report, the Board of Directors of Wynn Resorts determined that Aruze USA, Inc., Universal Entertainment Corporation and Mr. Okada are “unsuitable persons” under Article VII of the Company’s articles of incorporation. The Board of Directors was unanimous (other than Mr. Okada) in its determination. The Board of Directors also requested that Mr. Okada resign as a director of Wynn Resorts (under Nevada corporation law, a board of directors does not have the power to remove a director) and recommended that Mr. Okada be removed as a member of the Board of Directors of Wynn Macau, Limited. In addition, on February 18, 2012, Mr. Okada was removed from the Board of Directors of Wynn Las Vegas Capital Corp., an indirect wholly owned subsidiary of Wynn Resorts. On February 24, 2012, Mr. Okada was removed from the Board of Directors of Wynn Marau, Limited and on February 22, 2013, he was removed from the Board of Directors of Wynn Resorts by a stockholder vote in which 99.6% of the over 86 million shares voted were cast in favor of removal. Additionally, Mr. Okada resigned from the Board of Directors of Wynn Resorts on February 21, 2013.

Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, Wynn Resorts redeemed and cancelled Aruze USA, Inc.’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Article VII of Wynn Resorts’ articles of incorporation authorizes redemption at “fair value” of the shares held by unsuitable persons. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares held by Aruze USA, Inc. under the terms of the Stockholders Agreement (as defined below). Pursuant to the articles of incorporation, Wynn Resorts issued the Redemption Note to Aruze USA, Inc. in redemption of the shares. The Redemption Note has a principal amount of $1.94 billion, matures on February 18, 2022 and bears interest at the rate of 2% per annum, payable annually in arrears on each anniversary of the date of the Redemption Note. The Company may, in its sole and absolute discretion, at any time and from time to time, and without penalty or premium, prepay the whole or any portion of the principal or interest due under the Redemption Note. In no instance shall any payment obligation under the Redemption Note be accelerated except in the sole and absolute discretion of Wynn Resorts or as specifically mandated by law. The indebtedness evidenced by the Redemption Note is and shall be subordinated in right of payment, to the extent and in the manner provided in the Redemption Note, to the prior payment in full of all existing and future obligations of Wynn Resorts or any of its affiliates in respect of indebtedness for borrowed money of any kind or nature.

After authorizing the redemption of the Aruze USA, Inc. shares, the Board of Directors took certain actions to protect the Company and its operations from any influence of an unsuitable person, including placing limitations on the provision of certain operating information to unsuitable persons, evaluating whether to seek the removal of Mr. Okada from the Company’s Board of Directors, and the formation of an Executive Committee of the Board to manage the business and affairs of the Company during the period between each annual meeting. The Charter of the Executive Committee provides that “Unsuitable Persons” are not permitted to serve on the Committee. All members of the Board, other than Mr. Okada, were appointed to the Executive Committee on February 18, 2012. On February 24, 2012, the Board of Directors of Wynn Macau, Limited removed Mr. Kazuo Okada from the board. On January 3, 2013, the Company filed a definitive proxy statement on Schedule 14A (“Proxy Statement”) for a special meeting of the stockholders to consider and vote upon a proposal to remove Mr. Okada as a director of the Company (“Removal Proposal”). On January 24, 2013, Mr. Okada filed a complaint in the United States District Court, District of Nevada against the Company, alleging that the Proxy Statement was materially false and misleading in contravention of Section 14(a) of the Securities Exchange Act of 1934, as amended, and Securities and Exchange Commission Rule 14a-9 promulgated thereunder. Mr. Okada also filed a motion for a preliminary injunction on January 28, 2013, in which he sought an order preliminarily enjoining the special meeting of stockholders until such time as the Company corrected certain alleged misstatements and omissions in its Proxy Statement. At the conclusion of a hearing held on February 15, 2013, the federal court denied Mr. Okada’s motion.

On the afternoon of February 21, 2013, Mr. Okada resigned as a director of the Company. On February 22, 2013, the special meeting of stockholders was held and the stockholders approved the Removal Proposal with an affirmative vote of 85.7% of the shares entitled to vote at the special meeting (99.6% of the shares that were voted at the special meeting of stockholders were voted in favor of the Removal Proposal).

Redemption Action and Counterclaim

On February 19, 2012, Wynn Resorts filed a complaint in the Eighth Judicial District Court, Clark County, Nevada against Mr. Okada, Aruze USA, Inc. and Universal Entertainment Corporation (companies controlled by Mr. Okada) (the “Okada Parties”), alleging breaches of fiduciary duty and related claims. The Company is seeking compensatory and special damages as well as a declaration that it acted lawfully and in full compliance with its articles of incorporation, bylaws and other governing documents in redeeming and cancelling the shares of Aruze, USA, Inc.

On March 12, 2012, the Okada Parties removed the action to the United States District Court for the District of Nevada (the action was subsequently remanded to Nevada state court). On that same date, the Okada Parties filed an answer denying the claims and a counterclaim that purports to assert claims against the Company, each of the members of the Company’s Board of Directors (other than Mr. Okada) and Wynn Resorts’ General Counsel (the “Wynn Parties”). As amended, the Okada Parties’ counterclaim alleges, among other things: (1) that the shares of Wynn Resorts common stock owned by Aruze USA, Inc. were exempt from the redemption-for-unsuitability provisions in the Wynn Resorts articles of incorporation pursuant to certain agreements executed in 2002; (2) that the Wynn Resorts directors who authorized the redemption of Aruze USA, Inc.’s shares acted at the direction of Stephen A. Wynn and did not independently and objectively evaluate Mr. Okada’s, Universal Entertainment Corporation’s, and Aruze USA, Inc.’s suitability, and by so doing, breached their fiduciary duties; (3) that the Wynn Resorts directors violated the terms of the Wynn Resorts articles of incorporation by failing to pay Aruze USA, Inc. fair value for the redeemed shares; and (4) that the terms of the Redemption Note that Aruze USA, Inc. received in exchange for the redeemed shares, including the Redemption Note’s principal amount, duration, interest rate, and subordinated status, were unconscionable. Among other relief, the amended counterclaim seeks a declaration that the redemption of Aruze USA, Inc.’s shares was void, an injunction restoring Aruze USA, Inc.’s share ownership, damages in an unspecified amount and rescission of the Amended and Restated Stockholders Agreement. On August 31, 2012, Aruze USA, Inc. filed a motion for preliminary injunction with the Nevada state court. The motion sought an order that would prohibit Wynn Resorts from barring or preventing Aruze USA, Inc. from exercising rights as a stockholder at the November 2, 2012 annual meeting of Wynn Resorts’ stockholders. On October 2, 2012, the Nevada state court denied Aruze USA, Inc.’s motion for preliminary injunction. On October 19, 2012, Aruze USA, Inc. filed a notice of appeal with the Nevada Supreme Court. The appeal was assigned to the Nevada Supreme Court’s mediation program, has not progressed, and is pending. Wynn Resorts intends to vigorously defend against the appeal and to argue that the Nevada Supreme Court should affirm the state court’s decision denying Aruze USA, Inc.’s motion for a preliminary injunction.

The Company’s complaint, as amended, and the Okada Parties’ counterclaim, as amended, were challenged at the pleading stage through motion practice. At a hearing held on November 13, 2012, the Nevada State court denied the Wynn Parties’ motion to dismiss the Okada Parties’ amended counterclaim, but dismissed the Okada Parties’ claims under the Nevada Racketeer Influenced and Corrupt Organizations Act. At a hearing held on January 15, 2013, the court denied the Okada Parties’ motion to dismiss the Company’s amended complaint.

On February 13, 2013, the Okada Parties filed a motion in the Nevada state court in which they asked the court to establish a “disputed ownership fund” as defined in a federal tax regulation. Specifically, the motion sought an order establishing an escrow account to hold the Redemption Note issued to Aruze USA, Inc. as compensation for the shares of Wynn Resorts common stock redeemed by the board of directors in February 2012 in light of the board’s determination of unsuitability, as well as the redeemed shares themselves (although those shares were previously cancelled in February 2012), pending a resolution of the state court action. The order sought by the Okada Parties would also require the Company to, among other things, make any payments on the Redemption Note into the escrow account. A hearing on the motion has been set for March 22, 2013. The Company believes there is no basis for the relief requested in the motion and intends to oppose the motion vigorously.

The Company is vigorously pursuing its claims against the Okada Parties, and the Company and the other counter-defendants are vigorously defending against the counterclaims asserted against them. The Company’s claims and the Okada Parties’ counterclaims are in a preliminary stage and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this matter or the range of reasonably possible loss, if any. Any adverse judgments or settlements involving payment of a material sum of money could cause a material adverse effect on our financial condition and results of operations and could expose the Company to additional claims by third parties, including current or former investors or regulators. Any adverse judgments or settlements would reduce the Company’s profits and could limit the Company’s ability to operate its business.

Related Matters

The Company provided the Freeh Report to appropriate regulators and law enforcement agencies and is cooperating with related investigations that such regulators and agencies have undertaken. The conduct of the Okada Parties and any resulting regulatory investigations could have adverse consequences to the Company and its subsidiaries. A finding by regulatory authorities that Mr. Okada violated anti-corruption statutes and/or other laws or regulations applicable to persons affiliated with a gaming licensee on Company property and/or otherwise involved the Company in criminal or civil violations could result in actions by regulatory authorities against the Company. Relatedly, as described below, the Salt Lake Regional Office of the U.S. Securities and Exchange Commission (“SEC”) has commenced an informal inquiry into, and other regulators could pursue separate investigations into, the Company’s compliance with applicable laws arising from the allegations in the matters described above and in response to litigation filed by Mr. Okada suggesting improprieties in connection with the Company’s donation to the University of Macau. While the Company believes that it is in full compliance with all applicable laws, any such investigations could result in actions by regulators against the Company. In February 2013, the Nevada Gaming Control Board informed the Company that it has completed its investigation of allegations made by Mr. Okada against the Company regarding the activities of Mr. Wynn and related entities in Macau and found no violations of the Gaming Control Act or the Nevada Gaming Commission Regulations.

On June 19, 2012, Elaine Wynn responded to the Okada Parties’ counterclaim and asserted a cross claim against Steve Wynn and Kazuo Okada seeking a declaration that (1) any and all of Elaine Wynn’s duties under the January 2010 Stockholders Agreement (the “Stockholders Agreement”) by and among Aruze USA, Inc., Steve Wynn, and Elaine Wynn be discharged; (2) the Stockholders Agreement is subject to rescission and is rescinded; (3) the Stockholders Agreement is an unreasonable restraint on alienation in violation of public policy; and/or (4) the restrictions on sale of shares shall be construed as inapplicable to Elaine Wynn. Mr. Wynn filed his answer to Elaine Wynn’s cross claim on September 24, 2012. The indentures for the Wynn Las Vegas, LLC 2022 Notes and Existing Notes (the “Indentures”) provide that if Steve Wynn, together with certain related parties, in the aggregate beneficially owns a lesser percentage of the outstanding common stock of the Company than are beneficially owned by any other person, a change of control will have occurred. If Elaine Wynn prevails in her cross claim, Steve Wynn would not beneficially own or control Elaine Wynn’s shares and a change in control may result under the Company’s debt documents. Under the Indentures, the occurrence of a change of control requires that the Company make an offer (unless the notes have been previously called for redemption) to each holder to repurchase all or any part of such holder’s Notes at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest on the Notes purchased, if any, to the date of repurchase.

Litigation Commenced by Kazuo Okada and Related Matters

Books and Records Action:

On January 11, 2012, Mr. Okada, in his role as a Wynn Resorts’ director, commenced a writ proceeding in the Eighth Judicial District Court, Clark County, Nevada, seeking to compel the Company to produce certain books and records relating to a donation to the University of Macau, among other things.

In May 2011, Wynn Macau, a majority owned subsidiary of the Company, made a commitment to the University of Macau Development Foundation in support of the new Asia-Pacific Academy of Economics and Management. This contribution consists of a $25 million payment made in May 2011 and a commitment for additional donations of $10 million each year for the calendar years 2012 through 2022 inclusive. The pledge was consistent with the Company’s long-standing practice of providing philanthropic support for deserving institutions in the markets in which it operates. The pledge was made following an extensive analysis which concluded that the gift was made in accordance with all applicable laws. The pledge was considered by the boards of directors of both the Company and Wynn Macau, Limited and approved by 15 of the 16 directors who served on those boards. The sole dissenting vote was cast by Mr. Okada whose stated objection was to the length of time over which the donation would occur, not its propriety.

At a hearing on February 9, 2012, the Nevada state court held that, as a director of the Company, Mr. Okada had the right to make a reasonable inspection of the Company’s corporate books and records. Following the hearing, the Company released certain documents to Mr. Okada for his inspection. At a subsequent hearing on March 8, 2012, the court considered Mr. Okada’s request that the Company’s Board of Directors make additional documents available to him, and ruled that Mr. Okada was entitled to inspect two additional pages of documents. The Company promptly complied with the court’s ruling.

On May 25, 2012, Mr. Okada amended his petition to request inspection of additional records. Following a hearing held on October 2, 2012, the court ruled that Mr. Okada is entitled to review certain additional Company documents from the 2000 to 2002 time period. The Company promptly complied with the court’s ruling. On November 2, 2012, Mr. Okada filed a motion to compel the production of additional documents and to depose a witness designated by the Company. At the conclusion of a hearing held on November 8, 2012, the court denied Mr. Okada’s motion. The Company has not received any further requests for information by Mr. Okada in relation to this matter as of the date of this report.

SEC Inquiry:

On February 8, 2012, following Mr. Okada’s lawsuit, the Company received a letter from the Salt Lake Regional Office of the SEC requesting that, in connection with an informal inquiry by the SEC, the Company preserve information relating to the donation to the University of Macau, any donations by the Company to any other educational charitable institutions, including the University of Macau Development Foundation, and the Company’s casino or concession gaming licenses or renewals in Macau. The Company is fully cooperating with the Salt Lake Regional Office staff.

Japan Action:

On August 28, 2012, Mr. Okada, Universal Entertainment Corporation and Okada Holdings filed a complaint in Tokyo District Court against the Company, all members of the Board of Directors (other than Mr. Okada) and the Company’s General Counsel, alleging that the press release issued by the Company with respect to the redemption has damaged plaintiffs’ social evaluation and credibility. The plaintiffs seek damages and legal fees from the defendants. The Company and the other counter-defendants are vigorously defending against the claims asserted against them in this matter.

Federal Securities Action:

On January 3, 2013, the Company filed a definitive proxy statement on Schedule 14A (“Proxy Statement”) for a special meeting of the stockholders to consider and vote upon a proposal to remove Mr. Okada as a director of the Company (“Removal Proposal”). On January 24, 2013, Mr. Okada filed a complaint in the United States District Court, District of Nevada against the Company, alleging that the Proxy Statement was materially false and misleading in contravention of Section 14(a) of the Securities Exchange Act of 1934, as amended, and Securities and Exchange Commission Rule 14a-9 promulgated thereunder. Mr. Okada also filed a motion for a preliminary injunction on January 28, 2013, in which he sought an order preliminarily enjoining the special meeting of stockholders until such time as the Company corrected certain alleged misstatements and omissions in its Proxy Statement. At the conclusion of a hearing held on February 15, 2013, the federal court denied Mr. Okada’s motion.

Related Derivative Litigation

Six derivative actions were commenced against the Company and all members of its Board of Directors: four in the United States District Court, District of Nevada, and two in the Eighth Judicial District Court of Clark County, Nevada.

The four federal actions brought by the following plaintiffs have been consolidated: (1) The Louisiana Municipal Police Employees’ Retirement System, (2) Maryanne Solak, (3) Excavators Union Local 731 Welfare Fund, and (4) Boilermakers Lodge No. 154 Retirement Fund (collectively, the “Federal Plaintiffs”).

The Federal Plaintiffs filed a consolidated complaint on August 6, 2012, asserting claims for: (1) breach of fiduciary duty; (2) waste of corporate assets; (3) injunctive relief; and (4) unjust enrichment. The claims are against the Company all Company directors, including Mr. Okada, however, the plaintiffs voluntarily dismissed Mr. Okada as a defendant in this consolidated action on September 27, 2012. The Federal Plaintiffs claim that the individual defendants breached their fiduciary duties and wasted assets by: (a) failing to ensure the Company’s officers and directors complied with federal and state laws and the Company’s Code of Conduct; (b) voting to allow the Company’s subsidiary to make the donation to the University of Macau; and (c) redeeming Aruze USA, Inc.’s stock such that the Company incurs the debt associated with the redemption. The Federal Plaintiffs seek unspecified compensatory damages, restitution in the form of disgorgement, reformation of corporate governance procedures, an injunction against all future payments related to the donation/pledge, and all fees (attorneys, accountants, and experts) and costs. The directors responded to the consolidated complaint by filing a motion to dismiss on September 14, 2012. On February 1, 2013, the federal court dismissed the complaint for failure to plead adequately the futility of a pre-suit demand on the Board. The dismissal was without prejudice to the Federal Plaintiffs’ ability to file a motion within 30 days seeking leave to file an amended complaint.

The two state court actions brought by the following plaintiffs have also been consolidated: (1) IBEW Local 98 Pension Fund and (2) Danny Hinson (collectively, the “State Plaintiffs”). Through a coordination of efforts by all parties, the directors and the Company (a nominal defendant) have been served in all of the actions.

The State Plaintiffs filed a consolidated complaint on July 20, 2012 asserting claims for (1) breach of fiduciary duty; (2) abuse of control; (3) gross mismanagement; and (4) unjust enrichment. The claims are against the Company and all Company directors, including Mr. Okada, as well as the Company’s Chief Financial Officer, who signs financial disclosures filed with the SEC. The State Plaintiffs claim that the individual defendants failed to disclose to the Company’s stockholders the investigation into, and the dispute with director Okada as well as the alleged potential violations of the FCPA related to, the University of Macau Development Foundation donation. The State Plaintiffs seek unspecified monetary damages (compensatory and punitive), disgorgement, reformation of corporate governance procedures, an order directing the Company to internally investigate the donation, as well as attorneys’ fees and costs. On October 13, 2012, the court entered the parties’ stipulation providing for a stay of the state derivative action for 90 days, subject to the parties’ obligation to monitor the progress of the pending litigation, discussed above, between Wynn Resorts (among others) and Mr. Okada (among others). Per the stipulation, Wynn Resorts and the individual defendants were not required to respond to the consolidated complaint while the stay remained in effect. Although the stay has now expired, the State Plaintiffs have agreed to further extend the defendants’ time to respond to the consolidated complaint to allow the State Plaintiffs additional time to consider their plans for the action going forward, including a possible extension by agreement of the stay in the state derivative action.

The individual defendants are vigorously defending against the claims pleaded against them in these derivative actions. We are unable to predict the outcome of these litigations at this time.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Segment Information

12 Months Ended

Dec. 31, 2012

Segment Information

17. Segment Information

The Company monitors its operations and evaluates earnings by reviewing the assets and operations of its Las Vegas Operations and its Macau Operations. The Company’s total assets and capital expenditures by segment consisted of the following (amounts in thousands):


	As of December 31,
	2012		2011
Assets
Las Vegas Operations	$	3,669,881	$	4,035,398
Macau Operations		3,004,658		2,202,683
Corporate and other		602,055		661,415

	$	7,276,594	$	6,899,496


	Years ended December 31,
	2012		2011
Capital expenditures
Las Vegas Operations	$	41,552	$	65,207
Macau Operations		189,384		115,702
Corporate and other		10,049		3,237

	$	240,985	$	184,146

The Company’s results of operations by segment for the years ended December 31, 2012, 2011 and 2010 consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012			2011			2010
Net revenues
Las Vegas Operations	$	1,486,830		$	1,480,719		$	1,296,064
Macau Operations		3,667,454			3,789,073			2,888,634

Total	$	5,154,284		$	5,269,792		$	4,184,698

Adjusted Property EBITDA(1)
Las Vegas Operations	$	408,472		$	439,036		$	270,299
Macau Operations		1,167,340			1,196,232			892,686

Total		1,575,812			1,635,268			1,162,985

Other operating costs and expenses
Pre-opening costs		466			—			9,496
Depreciation and amortization		373,199			398,039			405,558
Property charges and other		39,978			130,649			25,219
Corporate expenses and other		131,807			96,868			96,659
Equity in income from unconsolidated affiliates		1,086			1,472			801

Total other operating costs and expenses		546,536			627,028			537,733

Operating income		1,029,276			1,008,240			625,252

Other non-operating costs and expenses
Interest income		12,543			7,654			2,498
Interest expense, net of amounts capitalized		(288,759	)		(229,918	)		(222,863	)
Increase (decrease) in swap fair value		991			14,151			(880	)
Loss from extinguishment of debt/exchange offer		(25,151	)		—			(67,990	)
Equity in income from unconsolidated affiliates		1,086			1,472			801
Other		3,012			3,968			225

Total other non-operating costs and expenses		(296,278	)		(202,673	)		(288,209	)

Income before income taxes		732,998			805,567			337,043
(Provision) benefit for income taxes		(4,299	)		19,546			(20,447	)

Net income	$	728,699		$	825,113		$	316,596

(1)

“Adjusted Property EBITDA” is earnings before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other, corporate expenses, intercompany golf course and water rights leases, stock-based compensation, and other non-operating income and expenses and includes equity in income from unconsolidated affiliates. Adjusted Property EBITDA is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDA as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors. The Company also presents Adjusted Property EBITDA because it is used by some investors as a way to measure a company’s ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDA as a supplement to financial measures in accordance with U.S. generally accepted accounting principles (“GAAP”). In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including Wynn Resorts, Limited, have historically excluded from their EBITDA calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, which do not relate to the management of specific casino properties. However, Adjusted Property EBITDA should not be considered as an alternative to operating income as an indicator of the Company’s performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDA does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, Wynn Resorts’ calculation of Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 33
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 35
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Quarterly Financial Information

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information

18. Quarterly Financial Information (Unaudited)

The following tables (amounts in thousands, except per share data) present selected quarterly financial information for 2012 and 2011, as previously reported. Because income per share amounts are calculated using the weighted average number of common and dilutive common equivalent shares outstanding during each quarter, the sum of the per share amounts for the four quarters may not equal the total income per share amounts for the year.


	Year Ended December 31, 2012
	First		Second		Third		Fourth		Year
Net revenues	$	1,313,498	$	1,253,207	$	1,298,495	$	1,289,084	$	5,154,284
Operating income		260,099		264,123		247,092		257,962		1,029,276
Net income		198,409		199,293		165,171		165,826		728,699
Net income attributable to Wynn Resorts		140,564		138,064		112,035		111,373		502,036
Basic income per share	$	1.25	$	1.38	$	1.12	$	1.11	$	4.87
Diluted income per share	$	1.23	$	1.37	$	1.11	$	1.10	$	4.82


	Year Ended December 31, 2011
	First		Second		Third		Fourth		Year
Net revenues	$	1,260,272	$	1,367,353	$	1,298,304	$	1,343,863	$	5,269,792
Operating income		280,556		213,033		239,845		274,806		1,008,240
Net income		226,335		155,331		185,185		258,262		825,113
Net income attributable to Wynn Resorts		173,804		122,031		127,063		190,473		613,371
Basic income per share	$	1.40	$	0.98	$	1.02	$	1.53	$	4.94
Diluted income per share	$	1.39	$	0.97	$	1.01	$	1.52	$	4.88

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Subsequent Events

12 Months Ended

Dec. 31, 2012

Subsequent Events

19. Subsequent Events (Unaudited)

On January 31, 2013, the Company announced a cash dividend of $1.00 per share, that was paid on February 28, 2013 to stockholders of record as of February 14, 2013.

Condensed Financial Statements (Parent Company Only)

12 Months Ended

Dec. 31, 2012

Condensed Financial Statements (Parent Company Only)

WYNN RESORTS, LIMITED

(Parent Company Only)

CONDENSED STATEMENTS OF INCOME

(amounts in thousands, except per share data)


	Years Ended December 31,
	2012			2011			2010
Operating revenues:
Wynn Las Vegas management fees	$	22,318		$	22,229		$	19,459
Wynn Macau royalty fees		147,101			152,463			114,904

Net revenues		169,419			174,692			134,363

Operating costs and expenses:
General and administrative		70,602			30,421			31,468
Provision for doubtful accounts		—			—			(68	)
Depreciation and amortization		421			421			483
Property charges and other		33			—			163

Total operating costs and expenses		71,056			30,842			32,046

Operating income		98,363			143,850			102,317


Other income (expense):
Interest and other income		1,116			865			1,750
Interest expense		(33,650	)		—			—
Equity in income of subsidiaries		665,127			669,589			263,684

Other income (expense), net		632,593			670,454			265,434

Income before income taxes		730,956			814,304			367,751
(Provision) benefit for income taxes		(2,257	)		10,809			(51,155	)

Net income		728,699			825,113			316,596
Less: Net income attributable to noncontrolling interests.		(226,663	)		(211,742	)		(156,469	)

Net income attributable to Wynn Resorts, Limited	$	502,036		$	613,371		$	160,127


Basic and diluted earnings per common share:
Net income:
Basic	$	4.87		$	4.94		$	1.30
Diluted	$	4.82		$	4.88		$	1.29
Weighted average common shares outstanding:
Basic		103,092			124,039			122,787
Diluted		104,249			125,667			123,939

The accompanying notes are an integral part of these condensed financial statements.

WYNN RESORTS, LIMITED

(Parent Company Only)

CONDENSED STATEMENTS OF CASH FLOWS

(amounts in thousands)


	Years Ended December 31,
	2012			2011			2010
Cash flows from operating activities:
Net income	$	728,699		$	825,113		$	316,596
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		421			421			483
Deferred income taxes		(3,655	)		(10,809	)		51,155
Stock-based compensation		11,894			10,663			10,792
Amortization of discount on investment securities and other		3,762			—			163
Dividends received from subsidiary		700,025			578,240			1,509,584
Equity in income of subsidiaries		(665,127	)		(669,589	)		(263,684	)
Increase (decrease) in cash from changes in:
Receivables		823			(1,610	)		(178	)
Prepaid expenses		(1,695	)		(9	)		4
Accounts payable, accrued expenses and other		38,337			5,168			(8,305	)
Due from affiliates		(22,318	)		(22,065	)		(9,040	)

Net cash provided by operating activities		791,166			715,523			1,607,570

Cash flows from investing activities:
Redemption of Wynn Las Vegas First Mortgage Notes		—			—			30,000
Purchase of investment securities		(183,484	)		(249,374	)		—
Proceeds from sales or maturities of investment securities		202,406			101,017			—
Purchase of other assets		(33,682	)		—			—
Due from subsidiaries		(34,132	)		(55,673	)		(25,300	)

Net cash (used in) provided by investing activities		(48,892	)		(204,030	)		4,700

Cash flows from financing activities:
Capital contribution to Wynn Las Vegas LLC		—			—			(50,000	)
Dividends paid		(955,493	)		(811,798	)		(1,051,543	)
Exercise of stock options		15,583			23,859			66,186
Purchase of treasury stock		(911	)		(7,629	)		—

Net cash used in financing activities		(940,821	)		(795,568	)		(1,035,357	)

Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents		(198,547	)		(284,075	)		576,913
Balance, beginning of year		378,486			662,561			85,648

Balance, end of year	$	179,939		$	378,486		$	662,561

The accompanying notes are an integral part of these condensed financial statements.

WYNN RESORTS, LIMITED

(Parent Company Only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1. Basis of Presentation

The accompanying condensed financial statements include only the accounts of Wynn Resorts, Limited (the “Company”). Investments in the Company’s subsidiaries are accounted for under the equity method.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted since this information is included in the Company’s consolidated financial statements included elsewhere in this Form 10-K.

2. Commitments and Contingencies

The Company is a holding company and, as a result, its ability to pay dividends is dependent on its subsidiaries’ ability to provide funds to it. Restrictions imposed by Wynn Las Vegas, LLC (a wholly owned indirect subsidiary of the Company) and Wynn Macau debt instruments significantly restrict certain of the Company’s key subsidiaries holding a majority of the consolidated group’s total assets, including Wynn Las Vegas, LLC, from making dividends or distributions to the Company, subject to certain exceptions for affiliated overhead expenses as defined in the agreements governing Wynn Las Vegas, LLC’s debt instruments, unless certain financial and non-financial criteria have been satisfied. In addition, the terms of the loan agreement of Wynn Resorts (Macau), S.A. contain similar restrictions. The Company received cash dividends of $700 million, $578.3 million and $1.51 billion from its subsidiaries during the years ended December 31, 2012, 2011 and 2010, respectively.

3. Equity Repurchase Program

During 2012 and 2011, the Company repurchased a total of 7,640 and 51,136 shares, respectively, in satisfaction of tax withholding obligations on vested restricted stock.

4. Long-Term Debt

Redemption Price Promissory Note

Based on the Board of Directors’ finding of “unsuitability,” on February 18, 2012, the Company redeemed and cancelled Aruze USA, Inc.’s 24,549,222 shares of Wynn Resorts’ common stock. Following a finding of “unsuitability,” Wynn Resorts’ articles of incorporation authorize redemption at “fair value” of the shares held by unsuitable persons. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the then current trading price was appropriate because of, among other things, restrictions on most of the shares which are subject to the terms of an existing stockholder agreement. Pursuant to the articles of incorporation, the Company issued the Redemption Price Promissory Note (the “Redemption Note”) to Aruze USA, Inc., a former stockholder and related party, in redemption of the shares. The Redemption Note has a principal amount of approximately $1.94 billion, matures on February 18, 2022 and bears interest at the rate of 2% per annum, payable annually in arrears on each anniversary of the date of the Redemption Note. The Company may, in its sole and absolute discretion, at any time and from time to time, and without penalty or premium, prepay the whole or any portion of the principal or interest due under the Redemption Note. In no instance shall any payment obligation under the Redemption Note be accelerated except in the sole and absolute discretion of Wynn Resorts or as specifically mandated by law. The indebtedness evidenced by the Redemption Note is and shall be subordinated in right of payment, to the extent and in the manner provided in the Redemption Note, to the prior payment in full of all existing and future obligations of Wynn Resorts and any of its affiliates in respect of indebtedness for borrowed money of any kind or nature.

The Company recorded the fair value of the Redemption Note at its estimated present value of approximately $1.94 billion in accordance with applicable accounting guidance. In determining this fair value, the Company considered the stated maturity of the Redemption Note, its stated interest rate, and the uncertainty of the related cash flows of the Redemption Note as well as the potential effects of the following: uncertainties surrounding the potential outcome and timing of pending litigation with Aruze USA, Inc. (see Note 6); the outcome of on-going investigations by the Nevada Gaming Control Board; and other potential legal and regulatory actions. In addition, in the furtherance of various future business objectives, the Company considered its ability, at its sole option, to prepay the Redemption Note at any time in accordance with its terms without penalty. Accordingly, the Company reasonably determined that the estimated life of the Redemption Note could be less than the contractual life of the Redemption Note. When considering the appropriate rate of interest to be used to determine fair value for accounting purposes and in light of the uncertainty in the timing of the cash flows, the Company used observable inputs from a range of trading values of financial instruments with terms and lives similar to the estimated life and terms of the Redemption Note. As a result of this analysis, the Company concluded the Redemption Note’s stated rate of 2% approximated a market rate.

5. Noncontrolling Interest

In October 2009, Wynn Macau, Limited, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited. Through an initial public offering, including the over allotment, Wynn Macau, Limited sold 1,437,500,000 (27.7%) shares of this subsidiary’s common stock. Net proceeds to the Company as a result of this transaction were approximately $1.8 billion. The shares of Wynn Macau, Limited were not and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent a registration under the Securities Act, or an applicable exception from such registration requirements. Net income attributable to noncontrolling interest was $226.7 million, $211.7 million and $156.5 million for the years ended December 31, 2012, 2011 and 2010, respectively.

On November 16, 2011, the Wynn Macau, Limited Board of Directors approved a HK$1.20 per share dividend. The total dividend amount was $800 million and the Company’s share of this dividend was $578.3 million. A reduction of $221.6 million was made to noncontrolling interest in the accompanying Condensed Balance Sheets to reflect this dividend.

On November 2, 2010, the Wynn Macau, Limited Board of Directors approved a HK$0.76 per share dividend. The total dividend amount was $508 million and the Company’s share of this dividend was $367 million. A reduction of $140.7 million was made to noncontrolling interest in the accompanying Condensed Balance Sheets to reflect this dividend.

6. Litigation

Atlantic-Pacific Capital

Determination of Unsuitability and Redemption of Aruze USA, Inc. and Affiliates

Based on the Freeh Report, the Board of Directors of Wynn Resorts determined that Aruze USA, Inc., Universal Entertainment Corporation and Mr. Okada are “unsuitable persons” under Article VII of the Company’s articles of incorporation. The Board of Directors was unanimous (other than Mr. Okada) in its determination. The Board of Directors also requested that Mr. Okada resign as a director of Wynn Resorts (under Nevada corporation law, a Board of Directors does not have the power to remove a director) and recommended that Mr. Okada be removed as a member of the Board of Directors of Wynn Macau, Limited. In addition, on February 18, 2012, Mr. Okada was removed from the Board of Directors of Wynn Las Vegas Capital Corp., an indirect wholly owned subsidiary of Wynn Resorts. On February 24, 2012, Mr. Okada was removed from the Board of Directors of Wynn Macau, Limited and on February 22, 2013, he was removed from the Board of Directors of Wynn Resorts by a stockholder vote in which 99.6% of the over 86 million shares voted were cast in favor of removal. Additionally, Mr. Okada resigned from the Board of Directors of Wynn Resorts on February 21, 2013.

Redemption Action and Counterclaim

The Company’s complaint, as amended, and the Okada Parties’ counterclaim, as amended, were challenged at the pleading stage through motion practice. At a hearing held on November 13, 2012, the Nevada state court denied the Wynn Parties’ motion to dismiss the Okada Parties’ amended counterclaim, but dismissed the Okada Parties’ claims under the Nevada Racketeer Influenced and Corrupt Organizations Act. At a hearing held on January 15, 2013, the court denied the Okada Parties’ motion to dismiss the Company’s amended complaint.

Related Matters

Litigation Commenced by Kazuo Okada and Related Matters

Books and Records Action:

In May 2011, Wynn Macau, a majority owned subsidiary of the Company, made a commitment to the University of Macau Development Foundation in support of the new Asia-Pacific Academy of Economics and Management. This contribution consists of a $25 million payment made in May 2011 and a commitment for additional donations of $10 million each year for the calendar years 2012 through 2022 inclusive. The pledge was consistent with the Company’s long-standing practice of providing philanthropic support for deserving institutions in the markets in which it operates. The pledge was made following an extensive analysis which concluded that the gift was made in accordance with all applicable laws. The pledge was considered by the boards of directors of both the Company and Wynn Macau, Limited and approved by 15 of the 16 directors who serve on those boards. The sole dissenting vote was cast by Mr. Okada whose stated objection was to the length of time over which the donation would occur, not its propriety.

SEC Inquiry:

Japan Action:

Federal Securities Action:

Related Derivative Litigation

The individual defendants are vigorously defending against the claims pleaded against them in these derivative actions. We are unable to predict the outcome of these litigations at this time.

Note 7. Subsequent Events

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Schedule II-Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2012

Schedule II-Valuation and Qualifying Accounts

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

(In Thousands)


Description	Balance at Beginning of Year		Provisions for Doubtful Accounts		Write-offs, Net of Recoveries			Balance at End of Year
Allowance for doubtful accounts:
2012	$	91,854		18,091		(7,732	)	$	102,213

2011	$	77,452		33,778		(19,376	)	$	91,854

2010	$	82,129		28,304		(32,981	)	$	77,452


Description	Balance at Beginning of Year		Additions		Deductions			Balance at End of Year
Deferred income tax asset valuation allowance:
2012	$	1,812,482		29,132		(10,069	)	$	1,831,545

2011	$	1,285,916		533,474		(6,908	)	$	1,812,482

2010	$	711,719		574,197		—		$	1,285,916

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

Principles of Consolidation

Principles of Consolidation

Use of Estimates

Use of Estimates

Redemption Price Promissory Note

Redemption Price Promissory Note

Cash and Cash Equivalents

Cash and Cash Equivalents

Restricted Cash and Investment Securities

Restricted Cash and Investment Securities

Accounts Receivable and Credit Risk

Accounts Receivable and Credit Risk

Inventories

Inventories

Property and Equipment

Property and Equipment

Purchases of property and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:


Buildings and improvements		10 to 45 years
Land improvements		10 to 45 years
Leasehold interest in land		25 years
Airplanes		18 to 20 years
Furniture, fixtures and equipment		3 to 20 years

Capitalized Interest

Capitalized Interest

Intangibles

Intangibles

Long-Lived Assets

Long-Lived Assets

Deferred Financing Costs

Deferred Financing Costs

Derivative Financial Instruments

Derivative Financial Instruments

Revenue Recognition and Promotional Allowances

Revenue Recognition and Promotional Allowances


	Years Ended December 31,
	2012		2011		2010
Rooms	$	53,487	$	52,019	$	52,017
Food and beverage		107,882		104,413		94,220
Entertainment, retail and other		17,522		17,017		21,091

	$	178,891	$	173,449	$	167,328

Customer Loyalty Program

Customer Loyalty Program

Slot Machine Jackpots

Slot Machine Jackpots

Gaming Taxes

Advertising Costs

Pre-Opening Costs

Income Taxes

Currency Translation

Comprehensive Income

Comprehensive Income

Fair Value Measurements

Fair Value Measurements

The following table presents assets and liabilities carried at fair value (amounts in thousands):


			Fair Value Measurements Using:
	Total Carrying Value		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
As of December 31, 2012
Redemption Price Promissory Note	$	1,936,443	$	—	$	1,936,443	$	—
Cash equivalents	$	969,166	$	80,434	$	888,732	$	—
Interest rate swaps	$	3,938	$	—	$	3,938	$	—
Restricted cash and available-for-sale securities	$	279,221	$	—	$	279,221	$	—
As of December 31, 2011
Cash equivalents	$	545,045	$	363,104	$	181,941	$	—
Interest rate swaps	$	7,298	$	—	$	7,298	$	—
Available-for-sale securities	$	213,567	$	—	$	213,567	$	—

As of December 31, 2012 and 2011, approximately 77% and 100% of the Company’s cash equivalents categorized as level 2 were deposits held in foreign currencies, respectively.

Earnings Per Share

Earnings Per Share


	2012		2011		2010
Weighted average common shares outstanding (used in calculation of basic earnings per share)		103,092		124,039		122,787
Potential dilution from the assumed exercise of stock options and nonvested stock		1,157		1,628		1,152

Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)		104,249		125,667		123,939

Anti-dilutive stock options excluded from the calculation of diluted earnings per share		680		610		1,078

Stock-Based Compensation

Stock-Based Compensation

Further information on the Company’s stock-based compensation arrangements is included in Note 14 “Benefit Plans”.

Recently Issued Accounting Standards

Recently Issued Accounting Standards

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Estimated Useful Lives Of Assets

Depreciation is provided over the estimated useful lives of the assets using the straight-line method as follows:


Buildings and improvements		10 to 45 years
Land improvements		10 to 45 years
Leasehold interest in land		25 years
Airplanes		18 to 20 years
Furniture, fixtures and equipment		3 to 20 years

Summary of Estimated Cost of Promotional Allowances

The estimated cost of providing such promotional allowances is primarily included in casino expenses as follows (amounts in thousands):


	Years Ended December 31,
	2012		2011		2010
Rooms	$	53,487	$	52,019	$	52,017
Food and beverage		107,882		104,413		94,220
Entertainment, retail and other		17,522		17,017		21,091

	$	178,891	$	173,449	$	167,328

Schedule of Assets and Liabilities Carried at Fair Value

The following table presents assets and liabilities carried at fair value (amounts in thousands):


			Fair Value Measurements Using:
	Total Carrying Value		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
As of December 31, 2012
Redemption Price Promissory Note	$	1,936,443	$	—	$	1,936,443	$	—
Cash equivalents	$	969,166	$	80,434	$	888,732	$	—
Interest rate swaps	$	3,938	$	—	$	3,938	$	—
Restricted cash and available-for-sale securities	$	279,221	$	—	$	279,221	$	—
As of December 31, 2011
Cash equivalents	$	545,045	$	363,104	$	181,941	$	—
Interest rate swaps	$	7,298	$	—	$	7,298	$	—
Available-for-sale securities	$	213,567	$	—	$	213,567	$	—

Schedule Of Shares Used In Calculation Of Earnings Per Share


	2012		2011		2010
Weighted average common shares outstanding (used in calculation of basic earnings per share)		103,092		124,039		122,787
Potential dilution from the assumed exercise of stock options and nonvested stock		1,157		1,628		1,152

Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)		104,249		125,667		123,939

Anti-dilutive stock options excluded from the calculation of diluted earnings per share		680		610		1,078

Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2012

Changes by Component in Accumulated Other Comprehensive Income

The following table presents the changes by component in Accumulated Other Comprehensive Income of the Company (amounts in thousands):


	Foreign currency translation		Unrealized gain/loss on securities			Accumulated other comprehensive income
December 31, 2011	$	2,409	$	(1,569	)	$	840
Current period other comprehensive income		1,987		1,350			3,337

December 31, 2012	$	4,396	$	(219	)	$	4,177

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Investment Securities

Investment securities consisted of the following (amounts in thousands):


	Available-for-sale securities

	Amortized Cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
December 31, 2012
Domestic and foreign corporate bonds	$	161,631	$	94	$	(369	)	$	161,356
Commercial paper		18,704		4		(5	)		18,703

	$	180,335	$	98	$	(374	)	$	180,059

December 31, 2011
Domestic and foreign corporate bonds	$	196,986	$	20	$	(2,070	)	$	194,936
Commercial paper		18,651		1		(21	)		18,631

	$	215,637	$	21	$	(2,091	)	$	213,567

Investments by Contractual Maturity

The amortized cost and estimated fair value of these investment securities at December 31, 2012, by contractual maturity are shown below (amounts in thousands):


	Amortized Cost		Fair Value
Available-for-sale securities
Due in one year or less		$138,992		$138,887
Due after one year through two years		41,343		41,172

		$180,335		$180,059

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 19, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-1
-Paragraph 21
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Receivables, net (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Receivables, Net

Receivables, net consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
Casino		$275,302			$264,034
Hotel		18,227			20,790
Retail leases and other		47,257			45,520

		340,786			330,344
Less: allowance for doubtful accounts		(102,213	)		(91,854	)

		$238,573			$238,490

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
Land and improvements		$732,209			$730,335
Buildings and improvements		3,837,215			3,777,612
Airplanes		135,392			77,436
Furniture, fixtures and equipment		1,646,506			1,655,655
Leasehold interest in land		316,658			316,437
Construction in progress		110,490			28,477

		6,778,470			6,585,952
Less: accumulated depreciation		(2,050,571	)		(1,720,620	)

		$4,727,899			$4,865,332

Intangibles, net (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Intangible Assets, Net

Intangibles, net consisted of the following (amounts in thousands):


	Macau Gaming Concession			Show Production Rights			Water Rights		Trademarks		Total Intangibles, Net
January 1, 2011	$	27,401		$	5,005		$	6,400	$	1,399	$	40,205
Amortization		(2,383	)		(2,071	)		—		—		(4,454	)

December 31, 2011		25,018			2,934			6,400		1,399		35,751
Amortization		(2,383	)		(2,071	)		—		—		(4,454	)

December 31, 2012	$	22,635		$	863		$	6,400	$	1,399	$	31,297

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Long-Term Debt

Long-term debt consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
7 7/8% Wynn Las Vegas First Mortgage Notes, due November 1, 2017, net of original issue discount of $7,384 at December 31, 2012 and $8,578 at December 31, 2011	$	492,616		$	491,422
7 7/8% Wynn Las Vegas First Mortgage Notes, due May 1, 2020,net of original issue discount of $1,632 at December 31, 2012 and $1,789 at December 31, 2011		350,378			350,221
7 3/4% Wynn Las Vegas First Mortgage Notes, due August 15, 2020		1,320,000			1,320,000
5 3/8% Wynn Las Vegas First Mortgage Notes, due March 15, 2022		900,000			—
Wynn Las Vegas Term Loan Facility, due August 15, 2013; interest at LIBOR plus 1.875%		—			40,262
Wynn Las Vegas Term Loan Facility, due August 17, 2015; interest at LIBOR plus 3%		—			330,605
Wynn Macau Senior Term Loan Facilities (as amended July 2012), due July 31, 2017 and July 31, 2018; interest at LIBOR or HIBOR plus 1.75%—2.50%, net of original issue discount of $3,737 at December 31, 2012		749,433			—
Wynn Macau Senior Term Loan Facilities (as amended June 2007), due June 27, 2014; interest at LIBOR or HIBOR plus 1.25%—1.75% at December 31, 2011		—			477,251
Wynn Macau Senior Revolving Credit Facilities, (as amended July 2012) due July 31, 2017; interest at LIBOR or HIBOR plus 1.75%—2.50%		—			—
Wynn Macau Senior Revolving Credit Facility, due June 27, 2012; interest at LIBOR or HIBOR plus 1.25% at December 31, 2011……		—			150,400
Redemption Price Promissory Note with former stockholder and related party, due February 18, 2022; interest at 2%		1,936,443			—
$42 million Note Payable, due April 1, 2017; interest at LIBOR plus 1.25%		33,950			35,350
$32.5 million Note Payable, due August 10, 2012; interest at LIBOR plus 1.15%		—			22,208

		5,782,820			3,217,719
Current portion of long-term debt		(1,050	)		(407,934	)

	$	5,781,770		$	2,809,785

Scheduled Maturities Of Long-Term Debt

Scheduled maturities of long-term debt, including the accretion of debt discounts of $12.8 million, are as follows (amounts in thousands):


Years Ending December 31,
2013	$	1,050
2014		1,400
2015		1,400
2016		1,400
2017		905,285
Thereafter		4,885,038

	$	5,795,573

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 55
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-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Interest Rate Swaps (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Interest Rate Swap Liabilities

As of December 31, 2011, the interest rate swap liabilities were included in other current accrued liabilities.


Liability fair value:	Wynn Las Vegas		Wynn Macau		Total Interest Rate Swaps
(amounts in thousands)
December 31, 2012	$	—	$	3,938	$	3,938
December 31, 2011	$	4,628	$	2,670	$	7,298

Property Charges and Other (Tables)

12 Months Ended

Dec. 31, 2012

Property Charges and Other

Property charges and other consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012		2011		2010
Net loss on assets abandoned/retired for remodel or sold	$	29,524	$	19,708	$	10,270
Donation to University of Macau Foundation		4,083		109,563		—
Loss on contract termination		315		—		14,949
Loss on show cancellation		6,056		1,378		—

	$	39,978	$	130,649	$	25,219

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of WRL Stock Plan Nonvested Shares

A summary of the status of the WRL Stock Plan’s nonvested shares as of December 31, 2012 and changes during the year then ended is presented below:


	Shares			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2012		794,500		$	98.08
Granted		41,500			110.04
Vested		(153,000	)		76.93
Canceled		(31,500	)		109.34

Nonvested at December 31, 2012		651,500		$	103.27

Summary of Nonvested Stock of WRL Stock Plan

The following information is provided for nonvested stock of the WRL Stock Plan (amounts in thousands, except weighted average grant date fair value):


	Years Ended December 31,
	2012		2011		2010
Weighted average grant date fair value	$	110.04	$	129.55	$	107.03

Fair value of shares vested	$	15,653	$	24,865	$	2,833

Summary Of Total Compensation Cost For WRL And WML Stock Plan

The total compensation cost for both the WRL Stock Plan and the WML Stock Plan is allocated as follows (amounts in thousands):


	Years Ended December 31,
	2012		2011		2010
Casino	$	4,794	$	8,997	$	10,497
Rooms		313		383		455
Food and beverage		178		429		301
Entertainment, retail and other		43		24		87
General and administrative		14,320		14,048		15,828

Total stock-based compensation expense		19,648		23,881		27,168
Total stock-based compensation capitalized		195		886		617

Total stock-based compensation costs	$	19,843	$	24,767	$	27,785

WRL Stock Plan

Summary of Option Activity

A summary of option activity under the WRL Stock Plan as of December 31, 2012, and the changes during the year then ended is presented below:


	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2012		2,729,124		$	63.49
Granted		173,830		$	101.60
Exercised		(332,576	)	$	46.86
Canceled/Expired		(172,558	)	$	86.65

Outstanding at December 31, 2012		2,397,820		$	66.89		6.08	$	110,155,465

Fully vested and expected to vest at December 31, 2012		2,285,904		$	66.60		6.07	$	105,717,827

Exercisable at December 31, 2012		311,290		$	63.00		3.96	$	15,907,396

Schedule Of Stock Option Information

The following information is provided for stock options of the WRL Stock Plan (amounts in thousands, except weighted average grant date fair value):


	Years Ended December 31,
	2012		2011		2010
Weighted average grant date fair value	$	33.03	$	48.31	$	40.32

Intrinsic value of stock options exercised	$	22,416	$	36,776	$	63,095

Net cash proceeds from the exercise of stock options	$	15,583	$	23,789	$	66,186

Tax benefits realized from the exercise of stock options and vesting of restricted stock	$	5,537	$	11,176	$	10,480

Summary Of Fair Value Per Option Estimated On Date Of Grant

The fair value of stock options granted under the WRL Stock Plan was estimated on the date of grant using the following weighted-average assumptions:


	Years Ended December 31,
	2012			2011			2010
Expected dividend yield		4.0	%		4.0	%		1.23	%
Expected stock price volatility		48.8	%		49.7	%		60.9	%
Risk-free interest rate		1.18	%		2.4	%		3.1	%
Expected average life of options (years)		7.0			6.5			6.9

WML Stock Plan

Summary of Option Activity

A summary of option activity under the WML Stock Plan as of December 31, 2012, and the changes during the year then ended is presented below:


	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2012		1,350,000	$	1.98
Granted		760,000		2.46
Exercised		—		—

Outstanding at December 31, 2012		2,110,000		2.15		8.3	$	1,416,513

Fully vested and expected to vest at December 31, 2012		2,110,000		2.15		8.3	$	1,416,513

Exercisable at December 31, 2012		430,000		1.77		7.5	$	452,880

Schedule Of Stock Option Information

The following information is provided for stock options of the WML Stock Plan (amounts in thousands, except weighted average grant date fair value):


	Years Ended December 31,
	2012		2011
Weighted average grant date fair value	$	0.78	$	0.75

Intrinsic value of stock options exercised	$	—	$	99.2

Net cash proceeds from the exercise of stock options	$	—	$	70.2

Summary Of Fair Value Per Option Estimated On Date Of Grant

The fair value of stock options granted under the WML Stock Plan was estimated on the date of grant using the following assumptions:


	Years Ended December 31,
	2012			2011			2010
Expected dividend yield		4.0	%		4.0	%		—	%
Expected stock price volatility		49.0	%		37.8	%		40.8	%
Risk-free interest rate		0.67	%		2.1	%		2.4	%
Expected average life of options (years)		6.5			6.5			6.5

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Summary Of Consolidated Income Loss Before Taxes For Domestic And Foreign

Consolidated income (loss) before taxes for domestic and foreign operations consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012			2011		2010
Domestic	$	(87,122	)	$	49,521	$	(239,125	)
Foreign		820,120			756,046		576,168

Total	$	732,998		$	805,567	$	337,043

Summary Of Provision (Benefit) For Income Taxes

The Company’s provision (benefit) for income taxes consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012			2011			2010
Current
Federal	$	5,912		$	—		$	—
Foreign		2,042			(3,386	)		1,560

	$	7,954		$	(3,386	)	$	1,560

Deferred
Federal	$	(3,655	)	$	(10,809	)	$	9,640
Foreign		—			(5,351	)		9,247

		(3,655	)		(16,160	)		18,887

Total	$	4,299		$	(19,546	)	$	20,447

Summary Of Income Taxes (Federal Statutory Corporate Tax Rate )

The income tax provision (benefit) differs from that computed at the federal statutory corporate tax rate as follows:


	Years Ended December 31,
	2012			2011			2010
Federal statutory rate		35.0%			35.0%			35.0%
Foreign tax rate differential		(25.6%	)		(21.3%	)		(38.8%	)
Non-taxable foreign income		(15.4%	)		(13.0%	)		(24.8%	)
Foreign tax credits, net of valuation allowance		1.7%			(80.8%	)		(104.9%	)
Repatriation of foreign earnings		0.0%			76.3%			134.9%
Other, net		3.6%			0.4%			1.7%
Valuation allowance, other		1.3%			1.0%			3.0%

Effective tax rate		0.6%			(2.4%	)		6.1%

Summary Of Net Deferred Tax Assets And Liabilities

The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (amounts in thousands):


	As of December 31,
	2012			2011
Deferred tax assets—U.S.:
Current:
Receivables, inventories, accrued liabilities and other	$	38,488		$	36,753
Less: valuation allowance		(35,386	)		(33,525	)

		3,102			3,228

Long-term:
Foreign tax credit carryforwards		1,843,757			1,848,185
Intangibles and related other		26,773			31,215
Stock based compensation		19,113			17,001
Pre-opening costs		14,584			16,671
Other		12,320			9,473

		1,916,547			1,922,545
Less: valuation allowance		(1,762,090	)		(1,753,667	)

		154,457			168,878

Deferred tax liabilities—U.S.:
Current:
Prepaid insurance, maintenance and taxes		(6,280	)		(6,803	)

		(6,280	)		(6,803	)

Long-term:
Property and equipment		(199,956	)		(223,172	)

		(199,956	)		(223,172	)

Deferred tax assets – Foreign:
Current:
Accrued liabilities…		156			—
Less: valuation allowance		(156	)		—

		—			—

Long-term:
Net operating loss carryforwards		17,157			17,593
Property and equipment		11,973			5,345
Other		4,783			2,352
Less: valuation allowance		(33,913	)		(25,290	)

		—			—

Net deferred tax liability	$	(48,677	)	$	(57,869	)

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in thousands):


	As of December 31,
	2012			2011			2010
Balance—beginning of year	$	85,498		$	83,834		$	148,365
Additions based on tax positions of the current year		8,140			12,427			13,164
Additions based on tax positions of prior years		—			—			694
Reductions for tax positions of prior years		—			—			—
Settlements		—			—			(78,389	)
Lapses in statutes of limitations		(9,349	)		(10,763	)		—

Balance—end of year	$	84,289		$	85,498		$	83,834

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References + Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Future Minimum Rental Receivable Under Operating Lease

The following table presents the future minimum rentals to be received under the operating leases (amounts in thousands):


Years Ending December 31,
2013	$	34,728
2014		35,151
2015		34,435
2016		31,771
2017		22,379
Thereafter		1,982

	$	160,446

Future Minimum Rental Payable Under Non-Cancelable Operating Lease

At December 31, 2012, the Company was obligated under non-cancelable operating leases to make future minimum lease payments as follows (amounts in thousands):


Years Ending December 31,
2013	$	5,775
2014		4,846
2015		3,882
2016		2,962
2017		1,106
Thereafter		3,944

	$	22,515

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References + Details

Segment Information (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Assets and Capital Expenditures by Segment

The Company’s total assets and capital expenditures by segment consisted of the following (amounts in thousands):


	As of December 31,
	2012		2011
Assets
Las Vegas Operations	$	3,669,881	$	4,035,398
Macau Operations		3,004,658		2,202,683
Corporate and other		602,055		661,415

	$	7,276,594	$	6,899,496


	Years ended December 31,
	2012		2011
Capital expenditures
Las Vegas Operations	$	41,552	$	65,207
Macau Operations		189,384		115,702
Corporate and other		10,049		3,237

	$	240,985	$	184,146

Summary of Operations by Segment

The Company’s results of operations by segment for the years ended December 31, 2012, 2011 and 2010 consisted of the following (amounts in thousands):


	Years Ended December 31,
	2012			2011			2010
Net revenues
Las Vegas Operations	$	1,486,830		$	1,480,719		$	1,296,064
Macau Operations		3,667,454			3,789,073			2,888,634

Total	$	5,154,284		$	5,269,792		$	4,184,698

Adjusted Property EBITDA(1)
Las Vegas Operations	$	408,472		$	439,036		$	270,299
Macau Operations		1,167,340			1,196,232			892,686

Total		1,575,812			1,635,268			1,162,985

Other operating costs and expenses
Pre-opening costs		466			—			9,496
Depreciation and amortization		373,199			398,039			405,558
Property charges and other		39,978			130,649			25,219
Corporate expenses and other		131,807			96,868			96,659
Equity in income from unconsolidated affiliates		1,086			1,472			801

Total other operating costs and expenses		546,536			627,028			537,733

Operating income		1,029,276			1,008,240			625,252

Other non-operating costs and expenses
Interest income		12,543			7,654			2,498
Interest expense, net of amounts capitalized		(288,759	)		(229,918	)		(222,863	)
Increase (decrease) in swap fair value		991			14,151			(880	)
Loss from extinguishment of debt/exchange offer		(25,151	)		—			(67,990	)
Equity in income from unconsolidated affiliates		1,086			1,472			801
Other		3,012			3,968			225

Total other non-operating costs and expenses		(296,278	)		(202,673	)		(288,209	)

Income before income taxes		732,998			805,567			337,043
(Provision) benefit for income taxes		(4,299	)		19,546			(20,447	)

Net income	$	728,699		$	825,113		$	316,596

(1)

Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Quarterly Financial Data


	Year Ended December 31, 2012
	First		Second		Third		Fourth		Year
Net revenues	$	1,313,498	$	1,253,207	$	1,298,495	$	1,289,084	$	5,154,284
Operating income		260,099		264,123		247,092		257,962		1,029,276
Net income		198,409		199,293		165,171		165,826		728,699
Net income attributable to Wynn Resorts		140,564		138,064		112,035		111,373		502,036
Basic income per share	$	1.25	$	1.38	$	1.12	$	1.11	$	4.87
Diluted income per share	$	1.23	$	1.37	$	1.11	$	1.10	$	4.82


	Year Ended December 31, 2011
	First		Second		Third		Fourth		Year
Net revenues	$	1,260,272	$	1,367,353	$	1,298,304	$	1,343,863	$	5,269,792
Operating income		280,556		213,033		239,845		274,806		1,008,240
Net income		226,335		155,331		185,185		258,262		825,113
Net income attributable to Wynn Resorts		173,804		122,031		127,063		190,473		613,371
Basic income per share	$	1.40	$	0.98	$	1.02	$	1.53	$	4.94
Diluted income per share	$	1.39	$	0.97	$	1.01	$	1.52	$	4.88

Condensed Financial Statements (Parent Company Only) (Tables) - Wynn Resorts, Ltd

12 Months Ended

Dec. 31, 2012

Condensed Balance Sheets

CONDENSED BALANCE SHEETS

(amounts in thousands, except share data)


	December 31,
	2012			2011
ASSETS
Current assets:
Cash and cash equivalents	$	179,939		$	378,486
Investment securities		89,155			108,676
Receivables		1,328			2,151
Prepaid expenses		2,698			1,003

Total current assets		273,120			490,316
Property and equipment, net		11,737			12,161
Investment securities		36,484			39,419
Other assets		33,682			—
Due from subsidiaries		232,400			173,583
Investment in subsidiaries		1,586,186			1,611,198

Total assets	$	2,173,609		$	2,326,677


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	171		$	1,274
Accrued compensation and benefits		1,796			5,811
Interest payable		33,650			—
Other accrued liabilities		3,750			1,768
Deferred income taxes, net		3,178			3,575

Total current liabilities		42,545			12,428
Long-term debt		1,936,443			—
Other long term liabilities		16,051			11,388
Uncertain tax position liability		29,139			25,112
Deferred income taxes, net		45,499			54,295

Total liabilities		2,069,677			103,223


Commitments and contingencies (Note 2)

Stockholders’ equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding		—			—
Common stock, par value $0.01; 400,000,000 shares authorized; 113,730,442 and 137,937,088 shares issued; and, 100,866,712 and 125,080,998 shares outstanding		1,137			1,379
Treasury stock, at cost; 12,863,730 and 12,856,090 shares		(1,127,947	)		(1,127,036	)
Additional paid-in capital		818,821			3,177,471
Accumulated other comprehensive income		4,177			840
Retained earnings		44,775			36,368

Total Wynn Resorts, Limited stockholders’ equity (deficit)		(259,037	)		2,089,022
Noncontrolling interest		362,969			134,432

Total equity		103,932			2,223,454

Total liabilities and stockholders’ equity	$	2,173,609		$	2,326,677

Condensed Statements Of Income

CONDENSED STATEMENTS OF INCOME

(amounts in thousands, except per share data)


	Years Ended December 31,
	2012			2011			2010
Operating revenues:
Wynn Las Vegas management fees	$	22,318		$	22,229		$	19,459
Wynn Macau royalty fees		147,101			152,463			114,904

Net revenues		169,419			174,692			134,363

Operating costs and expenses:
General and administrative		70,602			30,421			31,468
Provision for doubtful accounts		—			—			(68	)
Depreciation and amortization		421			421			483
Property charges and other		33			—			163

Total operating costs and expenses		71,056			30,842			32,046

Operating income		98,363			143,850			102,317


Other income (expense):
Interest and other income		1,116			865			1,750
Interest expense		(33,650	)		—			—
Equity in income of subsidiaries		665,127			669,589			263,684

Other income (expense), net		632,593			670,454			265,434

Income before income taxes		730,956			814,304			367,751
(Provision) benefit for income taxes		(2,257	)		10,809			(51,155	)

Net income		728,699			825,113			316,596
Less: Net income attributable to noncontrolling interests.		(226,663	)		(211,742	)		(156,469	)

Net income attributable to Wynn Resorts, Limited	$	502,036		$	613,371		$	160,127


Basic and diluted earnings per common share:
Net income:
Basic	$	4.87		$	4.94		$	1.30
Diluted	$	4.82		$	4.88		$	1.29
Weighted average common shares outstanding:
Basic		103,092			124,039			122,787
Diluted		104,249			125,667			123,939

Condensed Statements Of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

(amounts in thousands)


	Years Ended December 31,
	2012			2011			2010
Cash flows from operating activities:
Net income	$	728,699		$	825,113		$	316,596
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		421			421			483
Deferred income taxes		(3,655	)		(10,809	)		51,155
Stock-based compensation		11,894			10,663			10,792
Amortization of discount on investment securities and other		3,762			—			163
Dividends received from subsidiary		700,025			578,240			1,509,584
Equity in income of subsidiaries		(665,127	)		(669,589	)		(263,684	)
Increase (decrease) in cash from changes in:
Receivables		823			(1,610	)		(178	)
Prepaid expenses		(1,695	)		(9	)		4
Accounts payable, accrued expenses and other		38,337			5,168			(8,305	)
Due from affiliates		(22,318	)		(22,065	)		(9,040	)

Net cash provided by operating activities		791,166			715,523			1,607,570

Cash flows from investing activities:
Redemption of Wynn Las Vegas First Mortgage Notes		—			—			30,000
Purchase of investment securities		(183,484	)		(249,374	)		—
Proceeds from sales or maturities of investment securities		202,406			101,017			—
Purchase of other assets		(33,682	)		—			—
Due from subsidiaries		(34,132	)		(55,673	)		(25,300	)

Net cash (used in) provided by investing activities		(48,892	)		(204,030	)		4,700

Cash flows from financing activities:
Capital contribution to Wynn Las Vegas LLC		—			—			(50,000	)
Dividends paid		(955,493	)		(811,798	)		(1,051,543	)
Exercise of stock options		15,583			23,859			66,186
Purchase of treasury stock		(911	)		(7,629	)		—

Net cash used in financing activities		(940,821	)		(795,568	)		(1,035,357	)

Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents		(198,547	)		(284,075	)		576,913
Balance, beginning of year		378,486			662,561			85,648

Balance, end of year	$	179,939		$	378,486		$	662,561

Organization - Additional Information (Detail)	1 Months Ended	12 Months Ended
Organization - Additional Information (Detail)	Oct. 31, 2009 shares	Dec. 31, 2012 ft² Restaurant Hotel Property Room Store Facility
Organization and Basis of Presentation [Line Items]
No. of restaurants \| Restaurant		2
Common stock of subsidiary sold \| shares	1,437,500,000
Percentage of subsidiary's common stock sold	27.70%
Wynn Las Vegas
Organization and Basis of Presentation [Line Items]
Number of hotel \| Hotel		2
Number of rooms in hotel \| Room		4,750
Wynn Las Vegas \| Casino
Organization and Basis of Presentation [Line Items]
Area of property		186,000
Wynn Las Vegas \| Food and Beverage
Organization and Basis of Presentation [Line Items]
No. of outlets \| Store		35
Wynn Las Vegas \| Retail
Organization and Basis of Presentation [Line Items]
Area of property		95,000
Wynn Las Vegas \| Showrooms
Organization and Basis of Presentation [Line Items]
No. of showrooms \| Property		2
Wynn Las Vegas \| Nightclubs
Organization and Basis of Presentation [Line Items]
No. of facilities \| Facility		3
Wynn Macau
Organization and Basis of Presentation [Line Items]
Number of hotel \| Hotel		2
Number of rooms in hotel \| Room		1,008
No. of restaurants \| Restaurant		8
Wynn Macau \| Casino
Organization and Basis of Presentation [Line Items]
Area of property		275,000
Wynn Macau \| Retail
Organization and Basis of Presentation [Line Items]
Area of property		55,000
Wynn Macau \| Health clubs and spas
Organization and Basis of Presentation [Line Items]
No. of facilities \| Facility		2

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Summary of Significant Accounting Policies [Line Items]
Percentage of ownership in joint ventures	50.00%
Cash equivalents	$ 969,200,000	$ 545,000,000
Bank deposits and cash on hand	756,000,000	717,500,000
Restricted Cash	$ 99,200,000	$ 0
Percentage of credit markers due from customers residing outside of the United States	84.00%	84.00%
Adjustment effect in operating income	$ 30,900,000
Adjustment effect in net income	$ 23,300,000
Adjustment effect in diluted earning per share	$ 0.22
Capitalized interest	$ 2,000,000	$ 0	$ 7,200,000
Interest expense	11,000,000	11,600,000	13,200,000
Gaming tax expenses	1,800,000,000	1,900,000,000	1,400,000,000
Total advertising costs	23,000,000	19,500,000	19,000,000
Pre-opening costs	466,000	$ 0	$ 9,496,000
Redemption Price Promissory Note With Former Stockholder And Related Party, Due February 18, 2022; Interest At 2%
Summary of Significant Accounting Policies [Line Items]
Debt instrument, principal amount	$ 1,940,000,000
Debt instrument, interest rate	2.00%	2.00%
Other Observable Inputs (Level 2)
Summary of Significant Accounting Policies [Line Items]
Percentage of cash equivalents which are deposits held in foreign currencies	77.00%	100.00%

Estimated Useful Lives Of Assets (Detail)	12 Months Ended
Estimated Useful Lives Of Assets (Detail)	Dec. 31, 2012
Buildings And Improvements \| Minimum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	10 years
Buildings And Improvements \| Maximum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	45 years
Land Improvements \| Minimum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	10 years
Land Improvements \| Maximum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	45 years
Leasehold Interest In Land
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	25 years
Airplanes \| Minimum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	18 years
Airplanes \| Maximum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	20 years
Furniture, Fixtures And Equipment \| Minimum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	3 years
Furniture, Fixtures And Equipment \| Maximum
Property and Equipment, Net [Line Items]
Property, and equipment, estimated useful life	20 years

Summary of Estimated Cost of Promotional Allowances (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Promotional Allowances [Line Items]
Estimated costs of promotional allowances primarily included in casino expense	$ 178,891	$ 173,449	$ 167,328
Rooms
Promotional Allowances [Line Items]
Estimated costs of promotional allowances primarily included in casino expense	53,487	52,019	52,017
Food and Beverage
Promotional Allowances [Line Items]
Estimated costs of promotional allowances primarily included in casino expense	107,882	104,413	94,220
Entertainment, Retail and Other
Promotional Allowances [Line Items]
Estimated costs of promotional allowances primarily included in casino expense	$ 17,522	$ 17,017	$ 21,091

Schedule of Assets and Liabilities Carried at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 969,200	$ 545,000
Interest rate swaps	3,938	7,298
Available-for-sale securities	180,059	213,567
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Redemption Price Promissory Note	1,936,443
Cash equivalents	969,166	545,045
Interest rate swaps	3,938	7,298
Restricted cash and available-for-sale securities	279,221
Available-for-sale securities		213,567
Fair Value, Measurements, Recurring \| Quoted Market Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	80,434	363,104
Fair Value, Measurements, Recurring \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Redemption Price Promissory Note	1,936,443
Cash equivalents	888,732	181,941
Interest rate swaps	3,938	7,298
Restricted cash and available-for-sale securities	$ 279,221
Available-for-sale securities		$ 213,567

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

+ References + Details

Schedule of Shares used in Calculation of Earnings per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Weighted Average Shares Used In Computing Earnings Per Share [Line Items]
Weighted average common shares outstanding (used in calculation of basic earnings per share)	103,092	124,039	122,787
Potential dilution from the assumed exercise of stock options and nonvested stock	1,157	1,628	1,152
Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)	104,249	125,667	123,939
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	680	610	1,078

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Change by Component in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Foreign currency translation
December 31, 2011	$ 2,409
Current period other comprehensive income	2,749	$ 2,102	$ (2,154)
December 31, 2012	4,396	2,409
Unrealized gain/loss on securities
December 31, 2011	(1,569)
Current period other comprehensive income	1,780	(2,070)
December 31, 2012	(219)	(1,569)
Accumulated other comprehensive income
December 31, 2011	840
Current period other comprehensive income	3,337
December 31, 2012	$ 4,177	$ 840

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
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-Name Accounting Standards Codification
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-Paragraph 11
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 830
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-Section 45
-Paragraph 12
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-Name Accounting Standards Codification
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

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-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 12, 13
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-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 31
-Subparagraph a
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17, 18, 19, 22, 23, 24, 25, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 220
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-Name Accounting Standards Codification
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

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-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

- Definition

Net of tax amount of other comprehensive income (loss) attributable to the parent entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(3)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

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-Name Accounting Standards Codification
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-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569643-111683

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-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities.

+ References

+ Details

Schedule of Investment Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized cost	$ 180,335	$ 215,637
Available-for-sale securities, Gross unrealized gains	98	21
Available-for-sale securities, Gross unrealized losses	(374)	(2,091)
Available-for-sale securities, Fair value (net carrying amount)	180,059	213,567
Domestic and Foreign Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized cost	161,631	196,986
Available-for-sale securities, Gross unrealized gains	94	20
Available-for-sale securities, Gross unrealized losses	(369)	(2,070)
Available-for-sale securities, Fair value (net carrying amount)	161,356	194,936
Commercial Paper
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized cost	18,704	18,651
Available-for-sale securities, Gross unrealized gains	4	1
Available-for-sale securities, Gross unrealized losses	(5)	(21)
Available-for-sale securities, Fair value (net carrying amount)	$ 18,703	$ 18,631

- Definition

+ References + Details

Investments by Contractual Maturity (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Amortized cost
Due in one year or less	$ 138,992
Due after one year through two years	41,343
Amortized cost	180,335
Fair value
Due in one year or less	138,887
Due after one year through two years	41,172
Fair value	$ 180,059

- Definition

Amount of debt securities categorized neither as held-to-maturity nor trading.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 25
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=7534914&loc=d3e22054-111558

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26610-111562

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-Subparagraph (b)-(g)
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 12
-Subparagraph b
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Number 115
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 115
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 22
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Summary of Receivables, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 340,786	$ 330,344
Less: allowance for doubtful accounts	(102,213)	(91,854)
Receivables, net	238,573	238,490
Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	275,302	264,034
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	18,227	20,790
Retail Leases and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 47,257	$ 45,520

Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Property and Equipment, Net [Line Items]
Land and improvements	$ 732,209	$ 730,335
Buildings and improvements	3,837,215	3,777,612
Airplanes	135,392	77,436
Furniture, fixtures and equipment	1,646,506	1,655,655
Leasehold interest in land	316,658	316,437
Construction in progress	110,490	28,477
Property and equipment, gross	6,778,470	6,585,952
Less: accumulated depreciation	(2,050,571)	(1,720,620)
Property and equipment, net	$ 4,727,899	$ 4,865,332

Property and Equipment, net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property, Plant, and Equipment Disclosure [Line Items]
Depreciation expense	$ 367.1	$ 389.8	$ 394.9

Schedule Of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net, beginning balance	$ 35,751	$ 40,205
Finite-lived intangible assets, amortization	(4,454)	(4,454)
Finite-lived intangible assets, net, ending balance	31,297	35,751
Macau Gaming Concession
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net, beginning balance	25,018	27,401
Finite-lived intangible assets, amortization	(2,383)	(2,383)
Finite-lived intangible assets, net, ending balance	22,635	25,018
Show Production Rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net, beginning balance	2,934	5,005
Finite-lived intangible assets, amortization	(2,071)	(2,071)
Finite-lived intangible assets, net, ending balance	863	2,934
Water Rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net, beginning balance	6,400	6,400
Finite-lived intangible assets, net, ending balance	6,400	6,400
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net, beginning balance	1,399	1,399
Finite-lived intangible assets, net, ending balance	$ 1,399	$ 1,399

Intangibles, net - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($)
Macau Gaming Concession
Finite And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, useful life, years	20 years
Future amortization expense, 2013	$ 2.4
Future amortization expense, 2014	2.4
Future amortization expense, 2015	2.4
Future amortization expense, 2016	2.4
Future amortization expense, 2017	2.4
Future amortization expense, 2018	2.4
Future amortization expense, 2019	2.4
Future amortization expense, 2020	2.4
Future amortization expense, 2021	2.4
Future amortization expense, 2022	1.2
Show Production Rights
Finite And Indefinite Lived Intangible Assets [Line Items]
Future amortization expense, 2013	$ 0.9

Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Long-term debt total	$ 5,782,820	$ 3,217,719
Current portion of long-term debt	(1,050)	(407,934)
Non current portion of long-term debt	5,781,770	2,809,785
7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017
Debt Instrument [Line Items]
Long-term debt total	492,616	491,422
7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument [Line Items]
Long-term debt total	350,378	350,221
7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Debt Instrument [Line Items]
Long-term debt total	1,320,000	1,320,000
5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument [Line Items]
Long-term debt total	900,000
Wynn Las Vegas Term Loan Facility, Due August 15, 2013
Debt Instrument [Line Items]
Long-term debt total		40,262
Wynn Las Vegas Term Loan Facility, Due August 17, 2015
Debt Instrument [Line Items]
Long-term debt total		330,605
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018
Debt Instrument [Line Items]
Long-term debt total	749,433
Wynn Macau Senior Term Loan Facilities (As Amended June 2007), Due June 27, 2014
Debt Instrument [Line Items]
Long-term debt total		477,251
Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012
Debt Instrument [Line Items]
Long-term debt total		150,400
Redemption Price Promissory Note With Former Stockholder And Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Long-term debt total	1,936,443
$42 Million Note Payable, Due April 1, 2017
Debt Instrument [Line Items]
Long-term debt total	33,950	35,350
$32.5 Million Note Payable, Due August 10, 2012
Debt Instrument [Line Items]
Long-term debt total	$ 0	$ 22,208

Summary of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Aug. 10, 2012	Dec. 31, 2012	Dec. 31, 2011	Mar. 31, 2012	May 10, 2007
7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017
Debt Instrument [Line Items]
Debt instrument, interest rate		7.875%	7.875%
Long-term debt due date		Nov. 01, 2017	Nov. 01, 2017
Original issue discount		$ 7,384	$ 8,578
7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument [Line Items]
Debt instrument, interest rate		7.875%	7.875%
Long-term debt due date		May 01, 2020	May 01, 2020
Original issue discount		$ 1,632	$ 1,789
7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Debt Instrument [Line Items]
Debt instrument, interest rate		7.75%	7.75%
Long-term debt due date		Aug. 15, 2020	Aug. 15, 2020
5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument [Line Items]
Debt instrument, interest rate		5.375%		5.375%
Debt instrument, principal amount				$ 900,000
Long-term debt due date		Mar. 15, 2022
Wynn Las Vegas Term Loan Facility, Due August 15, 2013
Debt Instrument [Line Items]
Long-term debt due date		Aug. 15, 2013	Aug. 15, 2013
Interest in addition to LIBOR or HIBOR		1.875%	1.875%
Wynn Las Vegas Term Loan Facility, Due August 17, 2015
Debt Instrument [Line Items]
Long-term debt due date		Aug. 17, 2015	Aug. 17, 2015
Interest in addition to LIBOR or HIBOR		3.00%	3.00%
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018 \| Due July 31, 2017
Debt Instrument [Line Items]
Long-term debt, first installment payment date		Jul. 31, 2017
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018 \| Due July 31,2018
Debt Instrument [Line Items]
Long-term debt due date		Jul. 31, 2018
Original issue discount		$ 3,737
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018 \| Minimum \| Due July 31, 2017
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR		1.75%
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018 \| Minimum \| Due July 31,2018
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR		1.75%
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018 \| Maximum \| Due July 31, 2017
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR		2.50%
Wynn Macau Senior Term Loan Facilities ( As Amended July 2012), Due July 31, 2017 And July 31, 2018 \| Maximum \| Due July 31,2018
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR		2.50%
Wynn Macau Senior Term Loan Facilities (As Amended June 2007), Due June 27, 2014
Debt Instrument [Line Items]
Long-term debt due date			Jun. 27, 2014
Wynn Macau Senior Term Loan Facilities (As Amended June 2007), Due June 27, 2014 \| Minimum
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR			1.25%
Wynn Macau Senior Term Loan Facilities (As Amended June 2007), Due June 27, 2014 \| Maximum
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR			1.75%
Wynn Macau Senior Revolving Credit Facilities (As Amended July 2012), Due July 31, 2017
Debt Instrument [Line Items]
Long-term debt due date		Jul. 31, 2017	Jul. 31, 2017
Wynn Macau Senior Revolving Credit Facilities (As Amended July 2012), Due July 31, 2017 \| Minimum
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR		1.75%	1.75%
Wynn Macau Senior Revolving Credit Facilities (As Amended July 2012), Due July 31, 2017 \| Maximum
Debt Instrument [Line Items]
Interest in addition to LIBOR or HIBOR		2.50%	2.50%
Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012
Debt Instrument [Line Items]
Long-term debt due date		Jun. 27, 2012	Jun. 27, 2012
Interest in addition to LIBOR or HIBOR			1.25%
Redemption Price Promissory Note With Former Stockholder And Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Debt instrument, interest rate		2.00%	2.00%
Debt instrument, principal amount		$ 1,940,000
Long-term debt due date		Feb. 18, 2022	Feb. 18, 2022
$42 Million Note Payable, Due April 1, 2017
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 42,000	$ 42,000
Long-term debt due date		Apr. 01, 2017	Apr. 01, 2017
Interest in addition to LIBOR or HIBOR		1.25%	1.25%
$32.5 Million Note Payable, Due August 10, 2012
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 32,500	$ 32,500		$ 32,500
Long-term debt due date	Aug. 10, 2012	Aug. 10, 2012	Aug. 10, 2012
Interest in addition to LIBOR or HIBOR		1.15%	1.15%

Long-Term Debt - Additional Information (Detail) MOP$ in Millions	1 Months Ended					7 Months Ended	12 Months Ended
	Sep. 30, 2012 USD ($)	Jul. 31, 2012 USD ($)	Feb. 18, 2012 shares	Apr. 30, 2010 USD ($)	Oct. 31, 2009 USD ($)	Aug. 10, 2012 USD ($) BasisPoint	Dec. 31, 2012 USD ($) BasisPoint d	Dec. 31, 2012 MOP (MOP$) BasisPoint d	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2012 MOP (MOP$)	Mar. 31, 2012 USD ($)	Aug. 31, 2010 USD ($)	May 10, 2007 USD ($)	Mar. 30, 2007 USD ($)
Debt Instrument [Line Items]
Deferred financing cost and third party fees							$ (25,151,000)			$ (67,990,000)
Deferred financing costs, net							$ 71,189,000		$ 50,372,000
Consolidated leverage ratio excess cash flow percentage							50.00%	50.00%
Maximum guarantee by Macau government							$ 700,000	MOP$ 5.2
Amount of time guarantee will be at fixed amounts (days) \| d							180	180
Common stock redeemed, shares \| shares			24,549,222
Quarterly principal payment							$ 1,022,847,000		201,901,000	$ 2,551,561,000
Debt instrument, outstanding amount							5,782,820,000		3,217,719,000
Debt instrument net book value							3,100,000,000		2,200,000,000
Fair value of debt instrument							3,400,000,000		2,400,000,000
Other debt instruments, net book value							783,400,000		1,100,000,000
Other debt instruments, fair value							760,800,000		$ 1,000,000,000
Redemption price of promissory note							1,940,000,000
Long-term debt, including the accretion of debt discounts							$ 12,800,000
Redemption Price Promissory Note With Former Stockholder And Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Debt instrument, interest rate							2.00%		2.00%		2.00%
Long-term debt due date							Feb. 18, 2022	Feb. 18, 2022	Feb. 18, 2022
Debt instrument, principal amount							$ 1,940,000,000
Debt instrument, outstanding amount							$ 1,936,443,000
$32.5 Million Note Payable, Due August 10, 2012
Debt Instrument [Line Items]
Long-term debt due date						Aug. 10, 2012	Aug. 10, 2012	Aug. 10, 2012	Aug. 10, 2012
Debt instrument, principal amount							$ 32,500,000		$ 32,500,000					$ 32,500,000
Spread on variable rate							1.15%		1.15%		1.15%
Quarterly principal payment						$ 542,000
Balloon payment due at maturity						$ 21,100,000
Number of basis points of interest paid in addition to LIBOR \| BasisPoint						115
Debt instrument, outstanding amount							$ 0		$ 22,208,000
Wynn Las Vegas Revolver
Debt Instrument [Line Items]
Long-term debt previous due date							2013	2013
Deferred financing cost and third party fees	$ 2,600,000						$ 4,800,000
Revolving credit, expiration date							2015				2015
Revolving credit commitments							$ 100,000,000
Wynn Macau Revolver
Debt Instrument [Line Items]
Deferred financing cost and third party fees		$ 17,700,000
Deferred financing costs, net		33,200,000
5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument [Line Items]
Debt redemption price as percentage of principal							102.688%				102.688%
Debt premium decrease							$ 0
Debt instrument, interest rate							5.375%				5.375%	5.375%
Long-term debt due date							Mar. 15, 2022	Mar. 15, 2022
Percentage of principal repayment on the event of change of control							101.00%				101.00%
Debt instrument, principal amount												$ 900,000,000
Debt instrument, outstanding amount							$ 900,000,000
Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012
Debt Instrument [Line Items]
Long-term debt due date							Jun. 27, 2012	Jun. 27, 2012	Jun. 27, 2012
Outstanding credit facility amount							$ 0
Spread on variable rate									1.25%
Bank guarantee carrying amount							37,000,000				MOP$ 300.0
Debt instrument, outstanding amount									$ 150,400,000
Wynn Macau \| Wynn Macau Senior Revolving Credit Facility, Due June 27, 2012
Debt Instrument [Line Items]
Repayment of borrowings							$ 150,400,000
Consolidated leverage ratio, minimum							4.0	4.0
$42 Million Note Payable, Due April 1, 2017
Debt Instrument [Line Items]
Long-term debt due date							Apr. 01, 2017	Apr. 01, 2017
Debt instrument, principal amount															$ 42,000,000
Quarterly principal payment							$ 350,000
Balloon payment due at maturity							$ 28,000,000
Period interest is calculated over (days) \| d							90	90
Number of basis points of interest paid in addition to LIBOR \| BasisPoint							125	125
7 7/8% Wynn Las Vegas First Mortgage Notes, Due November 1, 2017
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument issued under private offering					$ 500,000,000
Debt issued at discount, price as percentage of principal					97.823%
Debt redemption price as percentage of principal					103.938%
Debt premium decrease							$ 0
Debt instrument, interest rate							7.875%				7.875%
Long-term debt due date							Nov. 01, 2017	Nov. 01, 2017
Percentage of principal repayment on the event of change of control							101.00%				101.00%
7 7/8% Wynn Las Vegas First Mortgage Notes, Due May 1, 2020
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument issued under private offering				$ 352,000,000
Debt redemption price as percentage of principal				103.938%
Debt premium decrease							$ 0
Debt instrument, interest rate							7.875%				7.875%
Long-term debt due date							May 01, 2020	May 01, 2020
Percentage of principal repayment on the event of change of control							101.00%				101.00%
Long-term debt previous due date							December 2014	December 2014
7 3/4% Wynn Las Vegas First Mortgage Notes, Due August 15, 2020
Debt Instrument [Line Items]
Debt redemption price as percentage of principal													103.875%
Debt premium decrease							$ 0
Debt instrument, interest rate							7.75%				7.75%
Long-term debt due date							Aug. 15, 2020	Aug. 15, 2020
Percentage of principal repayment on the event of change of control							101.00%				101.00%
Long-term debt previous due date							December 2014	December 2014
Debt instrument, principal amount													$ 1,320,000,000
Amended Wynn Macau Credit Facilities
Debt Instrument [Line Items]
Line of credit		2,300,000,000
Line of credit, additional borrowing capacity		200,000,000
Amended Wynn Macau Credit Facilities \| Funded
Debt Instrument [Line Items]
Line of credit		$ 750,000,000
Debt instrument payment terms		The principal amount of the term loan is required to be repaid in two equal installments in July 2017 and July 2018. The senior secured facilities bear interest for the first six months after closing at LIBOR or HIBOR plus a margin of 2.50% and thereafter will be subject to LIBOR or HIBOR plus a margin of between 1.75% to 2.50% based on Wynn Macau, S.A.'s leverage ratio.
Maturity period		2018-07
Amended Wynn Macau Credit Facilities \| Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit		$ 1,550,000,000
Maturity period		2017-07
Amended Wynn Macau Credit Facilities \| Senior Secured Facilities
Debt Instrument [Line Items]
Spread on variable rate		2.50%
Amended Wynn Macau Credit Facilities \| Senior Secured Facilities \| Minimum
Debt Instrument [Line Items]
Spread on variable rate		1.75%
Interest coverage ratio, minimum							2.00	2.00
Amended Wynn Macau Credit Facilities \| Senior Secured Facilities \| Maximum
Debt Instrument [Line Items]
Spread on variable rate		2.50%
Leverage Ratio, maximum							3.75	3.75

Scheduled Maturities Of Long-Term Debt (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Long Term Debt
2013	$ 1,050
2014	1,400
2015	1,400
2016	1,400
2017	905,285
Thereafter	4,885,038
Total	$ 5,795,573

Interest Rate Swap Liabilities Included In Other Long-Term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Interest Rate Swaps [Line Items]
Interest rate swap liabilities included in other long-term liabilities, fair value	$ 3,938	$ 7,298
Wynn Las Vegas
Interest Rate Swaps [Line Items]
Interest rate swap liabilities included in other long-term liabilities, fair value		4,628
Wynn Macau
Interest Rate Swaps [Line Items]
Interest rate swap liabilities included in other long-term liabilities, fair value	$ 3,938	$ 2,670

Interest Rate Swaps - Additional Information (Detail) $ in Thousands, $ in Millions	1 Months Ended			6 Months Ended	12 Months Ended
	Oct. 31, 2012 USD ($) Agreement	Sep. 28, 2012 USD ($) Agreement	Jun. 30, 2012	Jun. 30, 2012 USD ($)	Dec. 31, 2012 USD ($)	Sep. 28, 2012 HKD ($) Agreement	Dec. 31, 2011 USD ($)
Interest Rate Swaps [Line Items]
Interest rate swap payment					$ 2,368
Interest rate swap Liabilities					$ 3,938		$ 7,298
Wynn Las Vegas Swap
Interest Rate Swaps [Line Items]
Interest rate swap payment				$ 2,400
Interest rate swap Liabilities							4,600
Wynn Macau Swap
Interest Rate Swaps [Line Items]
Interest rate swap Liabilities							$ 2,700
Interest rate swap maturity date	Jul. 01, 2017	Jul. 01, 2017	Jun. 01, 2012
Number of interest rate swap agreements \| Agreement	1	2				2
Interest rate swap fixed interest rate	0.6763%	0.73%				0.73%
Interest rate swap notional amount	$ 243,750	$ 509,400				$ 3,950
Wynn Macau Swap \| Minimum
Interest Rate Swaps [Line Items]
Interest rate swap fixed interest rate	2.4263%	2.48%				2.48%
Wynn Macau Swap \| Maximum
Interest Rate Swaps [Line Items]
Interest rate swap fixed interest rate	3.1763%	3.23%				3.23%

Related Party Transactions - Additional Information (Detail)	1 Months Ended			12 Months Ended	24 Months Ended
	Mar. 01, 2012 USD ($)	Feb. 18, 2012 shares	May 31, 2010 USD ($)	Dec. 31, 2012 USD ($) a d	Feb. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)
Related Party Transaction [Line Items]
Common shares redeemed and canceled \| shares		24,549,222
Amount due to officers and directors				$ 1,000,000		$ 400,000
Notice required for lease termination at Villa Suite, days \| d				90
Number of percentage points used to determine discount on home purchase				10
Purchase of home for director				$ 9,300,000
Consideration in event of employee agreement termination			$ 1.00
Area of land \| a				2
Term of notice required to exercise option				30 days
Agreement expiration				2020-10
Surname Rights Agreement expiration date				October 24, 2017
SW Lease
Related Party Transaction [Line Items]
Rental value	$ 440,000				$ 503,831

Property Charges and Other (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property Charges and Other [Line Items]
Net loss on assets abandoned/retired for remodel or sold	$ 29,524	$ 19,708	$ 10,270
Donation to University of Macau Foundation	4,083	109,563
Loss on contract termination	315		14,949
Loss on show cancellation	6,056	1,378
Property charges and other	$ 39,978	$ 130,649	$ 25,219

Property Charges and Other - Additional Information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2011 USD ($)	Dec. 31, 2012 USD ($) Restaurant	Dec. 31, 2010 USD ($)
Property Charges and Other [Line Items]
Number of remodel restaurants \| Restaurant		2
Donation payments made during period	$ 25,000
Donation commitments, yearly payable contributions for 2012 through 2022		$ 10,000
Total donation commitments		135,000
Contract termination		$ 315	$ 14,949

Stockholders' Equity - Additional information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended		72 Months Ended
	Feb. 18, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012
Class of Stock [Line Items]
Common stock, shares authorized		400,000,000	400,000,000	400,000,000
Common stock, par value		$ 0.01	$ 0.01	$ 0.01
Common stock, shares outstanding		100,866,712	125,080,998	100,866,712
Common stock, voting rights		one vote
Repurchase of equity amount authorized		$ 1,700,000
Treasury stock, shares		12,863,730	12,856,090	12,863,730
Net cost for common stock purchased		$ 911	$ 7,629	$ 1,100,000
Stock repurchases, shares		7,640	51,136
Preferred stock, shares authorized		40,000,000	40,000,000	40,000,000
Preferred stock, par value		$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued		0	0	0
Common shares redeemed and canceled	24,549,222

Noncontrolling Interest - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended					12 Months Ended
	Nov. 16, 2011 USD ($)	Nov. 16, 2011 $ / shares	Nov. 02, 2010 USD ($)	Nov. 02, 2010 $ / shares	Oct. 31, 2009 USD ($) shares	Dec. 31, 2012 USD ($) $ / shares	Dec. 31, 2011 USD ($) $ / shares	Dec. 31, 2010 USD ($) $ / shares
Noncontrolling Interest [Line Items]
Subsidiary common stock, shares issued \| shares					1,437,500,000
Percentage of issuance of common stock					27.70%
Proceeds from Wynn Macau, Ltd IPO					$ 1,800,000
Transaction cost					$ 84,000
Net income attributable to noncontrolling interest						$ 226,663	$ 211,742	$ 156,469
Dividend per share \| $ / shares						$ 9.50	$ 6.50	$ 8.50
Reduction in noncontrolling interest	$ 221,600		$ 140,700
Wynn Macau Limited Ipo
Noncontrolling Interest [Line Items]
Dividend per share \| $ / shares		$ 1.20		$ 0.76
Total dividend	800,000		508,000
Company share of dividend	$ 578,300		$ 367,000

Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended			27 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Retirement savings plan contribution expense	$ 0.0	$ 0.0	$ 0.0
Multi-employer plan, period contributions	$ 8.6	7.6	6.8
Company's matching contribution percentage	5.00%
Grant date expiration term	10 years
Unrecognized compensation cost related to nonvested shares	$ 42.5			$ 42.5
WML Stock Plan
Defined Benefit Plan Disclosure [Line Items]
Reserve for share based compensation, shares	518,750,000			518,750,000
Unrecognized compensation cost related to nonvested shares	$ 1.0			$ 1.0
Stock options granted	760,000			2,200,000
WRL Stock Plan
Defined Benefit Plan Disclosure [Line Items]
Reserve for share based compensation, shares	12,750,000			12,750,000
Shares available for grant	4,087,064			4,087,064
Unrecognized compensation cost related to vested shares	$ 53.4			$ 53.4
Stock options granted	173,830
Wynn Macau
Defined Benefit Plan Disclosure [Line Items]
Retirement savings plan contribution expense	$ 7.1	$ 6.6	$ 3.3
Employee contribution percentage	5.00%
Company's matching contribution percentage	10.00%
Vesting period	10 years

Summary of Option Activity (Detail)	12 Months Ended	27 Months Ended
Summary of Option Activity (Detail)	Dec. 31, 2012 USD ($) $ / shares shares	Dec. 31, 2012 USD ($) $ / shares shares
WRL Stock Plan
Schedule Of Stock Options [Line Items]
Options outstanding, beginning balance \| shares	2,729,124
Options, Granted \| shares	173,830
Options, Exercised \| shares	(332,576)
Options, Canceled/Expired \| shares	(172,558)
Options outstanding, ending balance \| shares	2,397,820	2,397,820
Option Fully vested and expected to vest at December 31, 2012 \| shares	2,285,904	2,285,904
Option Exercisable at December 31, 2012 \| shares	311,290	311,290
Weighted Average Exercise Price, beginning balance \| $ / shares	$ 63.49
Weighted Average Exercise Price, Granted \| $ / shares	101.60
Weighted Average Exercise Price, Exercised \| $ / shares	46.86
Weighted Average Exercise Price, Canceled/Expired \| $ / shares	86.65
Weighted Average Exercise Price, ending balance \| $ / shares	66.89	$ 66.89
Weighted Average Exercise Price, fully vested and expected to vest \| $ / shares	66.60	66.60
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 63.00	$ 63.00
Weighted Average Remaining Contractual Term, Outstanding	6 years 29 days
Weighted Average Remaining Contractual Term, fully vested and expected to vest	6 years 26 days
Weighted Average Remaining Contractual Term, Exercisable	3 years 11 months 16 days
Aggregate Intrinsic Value, ending balance \| $	$ 110,155,465	$ 110,155,465
Aggregate Intrinsic Value, fully vested and expected to vest \| $	105,717,827	105,717,827
Aggregate Intrinsic Value, Exercisable \| $	$ 15,907,396	$ 15,907,396
WML Stock Plan
Schedule Of Stock Options [Line Items]
Options outstanding, beginning balance \| shares	1,350,000
Options, Granted \| shares	760,000	2,200,000
Options outstanding, ending balance \| shares	2,110,000	2,110,000
Option Fully vested and expected to vest at December 31, 2012 \| shares	2,110,000	2,110,000
Option Exercisable at December 31, 2012 \| shares	430,000	430,000
Weighted Average Exercise Price, beginning balance \| $ / shares	$ 1.98
Weighted Average Exercise Price, Granted \| $ / shares	2.46
Weighted Average Exercise Price, ending balance \| $ / shares	2.15	$ 2.15
Weighted Average Exercise Price, fully vested and expected to vest \| $ / shares	2.15	2.15
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 1.77	$ 1.77
Weighted Average Remaining Contractual Term, Outstanding	8 years 3 months 18 days
Weighted Average Remaining Contractual Term, fully vested and expected to vest	8 years 3 months 18 days
Weighted Average Remaining Contractual Term, Exercisable	7 years 6 months
Aggregate Intrinsic Value, ending balance \| $	$ 1,416,513	$ 1,416,513
Aggregate Intrinsic Value, fully vested and expected to vest \| $	1,416,513	1,416,513
Aggregate Intrinsic Value, Exercisable \| $	$ 452,880	$ 452,880

Summary of Stock Options (Detail) - USD ($)	12 Months Ended
Summary of Stock Options (Detail) - USD ($)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
WRL Stock Plan
Schedule Of Stock Options [Line Items]
Weighted average grant date fair value	$ 33.03	$ 48.31	$ 40.32
Intrinsic value of stock options exercised	$ 22,416,000	$ 36,776,000	$ 63,095,000
Net cash proceeds from the exercise of stock options	15,583,000	23,789,000	66,186,000
Tax benefits realized from the exercise of stock options and vesting of restricted stock	$ 5,537,000	$ 11,176,000	$ 10,480,000
WML Stock Plan
Schedule Of Stock Options [Line Items]
Weighted average grant date fair value	$ 0.78	$ 0.75
Intrinsic value of stock options exercised		$ 99,200
Net cash proceeds from the exercise of stock options		$ 70,200

Summary Of WRL Stock Plan Nonvested Shares (Detail)	12 Months Ended
Summary Of WRL Stock Plan Nonvested Shares (Detail)	Dec. 31, 2012 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested Shares, beginning balance \| shares	794,500
Shares, Granted \| shares	41,500
Shares, Vested \| shares	(153,000)
Shares, Canceled \| shares	(31,500)
Nonvested Shares, ending balance \| shares	651,500
Nonvested Shares, Weighted Average Grant Date Fair Value, beginning balance \| $ / shares	$ 98.08
Weighted Average Grant Date Fair Value, Granted \| $ / shares	110.04
Weighted Average Grant Date Fair Value, Vested \| $ / shares	76.93
Weighted Average Grant Date Fair Value, Canceled \| $ / shares	109.34
Nonvested Shares, Weighted Average Grant Date Fair Value, ending balance \| $ / shares	$ 103.27

- Definition

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.

+ References + Details

Summary Of Nonvested Stock Of WRL Stock Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 103.27	$ 98.08
WRL Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 110.04	$ 129.55	$ 107.03
Fair value of shares vested	$ 15,653	$ 24,865	$ 2,833

- Definition

+ References + Details

Summary Of Fair Value Per Option Estimated On Date Of Grant (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
WRL Stock Plan
Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected dividend yield	4.00%	4.00%	1.23%
Expected stock price volatility	48.80%	49.70%	60.90%
Risk-free interest rate	1.18%	2.40%	3.10%
Expected average life of options (years)	7 years	6 years 6 months	6 years 10 months 24 days
WML Stock Plan
Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected dividend yield	4.00%	4.00%
Expected stock price volatility	49.00%	37.80%	40.80%
Risk-free interest rate	0.67%	2.10%	2.40%
Expected average life of options (years)	6 years 6 months	6 years 6 months	6 years 6 months

Summary Of Total Compensation Cost For WRL And WML Stock Plan (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 19,648	$ 23,881	$ 27,168
Total stock-based compensation capitalized	195	886	617
Total stock-based compensation costs	19,843	24,767	27,785
Casino
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	4,794	8,997	10,497
Rooms
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	313	383	455
Food and Beverage
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	178	429	301
Entertainment, Retail and Other
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	43	24	87
General and Administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 14,320	$ 14,048	$ 15,828

Summary of Consolidated Income Loss Before Taxes For Domestic and Foreign (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Loss Or Income Before Income Taxes [Line Items]
Domestic	$ (87,122)	$ 49,521	$ (239,125)
Foreign	820,120	756,046	576,168
Total	$ 732,998	$ 805,567	$ 337,043

Summary Of Benefit (Provision) For Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes Provision Benefit Summary Of Income Taxes [Line Items]
Federal, Current	$ 5,912
Foreign, Current	2,042	$ (3,386)	$ 1,560
Current, Total	7,954	(3,386)	1,560
Federal, Deferred	(3,655)	(10,809)	9,640
Foreign, Deferred		(5,351)	9,247
Deferred, Total	(3,655)	(16,160)	18,887
Income tax benefit (provision), total	$ 4,299	$ (19,546)	$ 20,447

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations.

+ References

+ Details

- Definition

The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law.

+ References

+ Details

- Definition

The component of total income tax expense for the period comprised of the increase (decrease) in the entity's net foreign deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of applicable enacted tax laws of countries other than the country of domicile.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes (Federal Statutory Corporate Tax Rate ) (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Reconciliation of Statutory Federal Tax Rate [Line Items]
Federal statutory rate	35.00%	35.00%	35.00%
Foreign tax rate differential	(25.60%)	(21.30%)	(38.80%)
Non-taxable foreign income	(15.40%)	(13.00%)	(24.80%)
Foreign tax credits, net of valuation allowance	1.70%	(80.80%)	(104.90%)
Repatriation of foreign earnings	0.00%	76.30%	134.90%
Other, net	3.60%	0.40%	1.70%
Valuation allowance, other	1.30%	1.00%	3.00%
Effective tax rate	0.60%	(2.40%)	6.10%

Income Taxes - Additional Information (Detail) $ / shares in Units, MOP$ in Millions		1 Months Ended	12 Months Ended
	Nov. 30, 2010	Jul. 31, 2011 USD ($) yr	Dec. 31, 2012 USD ($) yr $ / shares	Dec. 31, 2011 USD ($) $ / shares	Dec. 31, 2010 USD ($) $ / shares	Jul. 31, 2011 MOP (MOP$)
Income Taxes [Line Items]
Length of second tax exemption period	5 years
Complementary tax rate			12.00%
Amount of complementary tax exemption			$ 87,100,000	$ 82,700,000	$ 64,400,000
Amount of complementary tax exemption per share \| $ / shares			$ 0.84	$ 0.66	$ 0.51
Annual complementary tax to be paid		$ 1,900,000	$ 1,900,000	$ 1,900,000		MOP$ 15.5
Length of complementary tax exemption, years \| yr		5
Recognized foreign tax credit tax benefit net of valuation allowance			0	647,600,000	$ 955,200,000
Increase in valuation allowance for deferred tax assets			19,100,000	526,600,000
Tax benefits resulting from the exercise of nonqualified stock options			5,500,000	11,200,000	10,500,000
Foreign tax credit carryforwards			$ 1,844,000,000
U.S. capital loss carryforward incurred				3,600,000
U.S. capital loss carryforward expiration			2016
Foreign tax credit carryforward time period, years \| yr			10
Temporary differences resulting from earnings of certain non-U.S. subsidiaries			$ 333,600,000	300,600,000
Accumulated earnings to be repatriated			604,600,000
Deferred tax liability associated with temporary differences			116,800,000	105,200,000
U.S. and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets			55,200,000	60,400,000	48,000,000
Uncertain tax positions, noncurrent			29,100,000	25,100,000	35,900,000
Unrecognized tax benefits that would impact the effective tax rate if recognized			18,800,000	24,200,000	17,900,000
Recognized interest and penalties			300,000	40,000	0
Cash tax payment			1,300,000	1,100,000
Decrease in unrecognized tax benefits due to expiration of the statute of limitations			9,349,000	10,763,000
Minimum
Income Taxes [Line Items]
Unrecognized tax benefit increase resulting in tax settlements			0
Maximum
Income Taxes [Line Items]
Unrecognized tax benefit increase resulting in tax settlements			4,000,000
Tax Credit Carryforward Expiry In 2018
Income Taxes [Line Items]
Foreign tax credit carryforwards			662,200,000
Tax Credit Carryforward Expiry In 2019
Income Taxes [Line Items]
Foreign tax credit carryforwards			110,900,000
Tax Credit Carryforward Expiry In 2020
Income Taxes [Line Items]
Foreign tax credit carryforwards			530,400,000
Tax Credit Carryforward Expiry In 2021
Income Taxes [Line Items]
Foreign tax credit carryforwards			540,300,000
Foreign Tax Credit
Income Taxes [Line Items]
Valuation allowance			1,786,000,000	1,777,000,000
Other Deferred Tax Asset
Income Taxes [Line Items]
Valuation allowance			11,100,000	9,700,000
Wynn Macau
Income Taxes [Line Items]
Repatriation of foreign earnings			0	578,200,000
Foreign Tax Credit Carryforwards
Income Taxes [Line Items]
Cash tax payment			3,100,000
General Business Tax Carryforwards
Income Taxes [Line Items]
Cash tax payment			$ 900,000
Foreign
Income Taxes [Line Items]
Gaming tax			35.00%
Tax loss carryforward			$ 85,400,000	$ 70,900,000	$ 89,400,000
Tax loss carryforwards expiration			2015	2014	2013
U.S.
Income Taxes [Line Items]
Tax credit of "net" foreign source income			35.00%
Foreign tax credit carryforwards			$ 1,843,757,000	$ 1,848,185,000
Tax loss carryforward			$ 0

Summary Of Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Deferred Tax Assets And Liabilities [Line Items]
Foreign tax credit carryforwards	$ 1,844,000
Net deferred tax liability	(48,677)	$ (57,869)
Deferred tax liabilities current, total	(3,178)	(3,575)
Long-term deferred tax liabilities, total	(45,499)	(54,294)
U.S.
Deferred Tax Assets And Liabilities [Line Items]
Receivables, inventories, accrued liabilities and other	38,488	36,753
Less: valuation allowance	(35,386)	(33,525)
Deferred tax assets, net, current, total	3,102	3,228
Foreign tax credit carryforwards	1,843,757	1,848,185
Intangibles and related other	26,773	31,215
Stock based compensation	19,113	17,001
Pre-opening costs	14,584	16,671
Other	12,320	9,473
Long-term deferred tax assets gross	1,916,547	1,922,545
Less: valuation allowance	(1,762,090)	(1,753,667)
Deferred tax assets, net, total	154,457	168,878
Prepaid insurance, maintenance and taxes	(6,280)	(6,803)
Deferred tax liabilities current, total	(6,280)	(6,803)
Property and equipment	(199,956)	(223,172)
Long-term deferred tax liabilities, total	(199,956)	(223,172)
Foreign
Deferred Tax Assets And Liabilities [Line Items]
Accrued liabilities	156
Less: valuation allowance	(156)
Net operating loss carryforwards	17,157	17,593
Property and equipment	11,973	5,345
Other	4,783	2,352
Less: valuation allowance	(33,913)	(25,290)
Deferred tax assets, net, non current

Reconciliation Of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Contingency [Line Items]
Balance - beginning of year	$ 85,498	$ 83,834	$ 148,365
Additions based on tax positions of the current year	8,140	12,427	13,164
Additions based on tax positions of prior years			694
Reductions for tax positions of prior years
Settlements			(78,389)
Lapses in statutes of limitations	(9,349)	(10,763)
Balance - end of year	$ 84,289	$ 85,498	$ 83,834

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended			12 Months Ended
	May 10, 2012 USD ($)	Feb. 18, 2012 USD ($) shares	Dec. 31, 2011 USD ($)	Dec. 31, 2012 USD ($) Derivative Installment a	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Feb. 22, 2013 shares	May 31, 2011 USD ($) Person	May 03, 2010 USD ($)
Commitments and Contingencies [Line Items]
Land premium payment obligation, current			$ 13,425,000	$ 27,937,000	$ 13,425,000
Land premium payment obligation, noncurrent			103,854,000	76,186,000	103,854,000
Contingent rentals				94,000,000	73,200,000	$ 42,500,000
Rent expenses				$ 21,500,000	$ 20,200,000	$ 21,600,000
Common stock redeemed, shares \| shares		24,549,222
Debt purchase price percentage of aggregate principal amount				101.00%
Number of derivative actions commenced \| Derivative				6
Number of derivative actions commenced in the U.S. District Court \| Derivative				4
Number of derivative actions commenced in State Court \| Derivative				2
Pending Litigation
Commitments and Contingencies [Line Items]
Loss contingency, estimate of possible loss									$ 32,000,000
Minimum
Commitments and Contingencies [Line Items]
Term of employment agreement				3 years
Maximum
Commitments and Contingencies [Line Items]
Term of employment agreement				5 years
Subsequent Event \| Directors
Commitments and Contingencies [Line Items]
Percentage of shares voted in favor of removal of Mr. Okada							99.60%
Number of Voted Shares \| shares							86,000,000
Percentage of affirmative vote for removal proposal							85.70%
Aruze USA, Inc.
Commitments and Contingencies [Line Items]
Common stock redeemed, shares \| shares		24,549,222
Redemption price promissory note, principal amount		$ 1,940,000,000
Redemption price promissory note, maturity date		Feb. 18, 2022
Redemption price promissory note, interest rate		2.00%
Wynn Macau
Commitments and Contingencies [Line Items]
Donation to University of Macau Development Foundation								$ 25,000,000
Commitment for additional donations to be made								$ 10,000,000
Number of board members on the Board of Directors who approved donations \| Person								15
Number of board members on the Board of Directors \| Person								16
Cotai Land Agreement
Commitments and Contingencies [Line Items]
Payment under land concession contract	$ 50,000,000
Land Concession Contract
Commitments and Contingencies [Line Items]
Quantity of land acquired (acres) \| a				16
Land concession contract period (years)				25 years
Payment under land concession contract				$ 56,900,000
Pre Construction Completion Payments
Commitments and Contingencies [Line Items]
Annual lease payments				800,000
Pre Construction Completion Payments \| Maximum
Commitments and Contingencies [Line Items]
Annual lease payments				$ 525,000
Cotai Development and Land Concession Contract
Commitments and Contingencies [Line Items]
Quantity of land acquired (acres) \| a				51
Land concession contract period (years)				25 years
Total land premium payable				$ 193,400,000
Down payment of premium			$ 62,500,000
Individual semi-annual payment of premium (8 total)				$ 16,400,000
Number of additional semi-annual payments \| Installment				8
Rate of interest on premium				5.00%
Cotai Development and Land Concession Contract \| Minimum
Commitments and Contingencies [Line Items]
Project Budget				$ 3,500,000,000
Cotai Development and Land Concession Contract \| Maximum
Commitments and Contingencies [Line Items]
Project Budget				4,000,000,000
Post Construction Completion Payments
Commitments and Contingencies [Line Items]
Annual lease payments				$ 1,100,000

Future Minimum Rentals Received Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Future Minimum Payments Under Non-Cancelable Operating Leases With Initial Terms Of One-Year Or More [Line Items]
2013	$ 34,728
2014	35,151
2015	34,435
2016	31,771
2017	22,379
Thereafter	1,982
Total	$ 160,446

Future Minimum Rental Payable Under Non-cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Operating Leased Assets [Line Items]
2013	$ 5,775
2014	4,846
2015	3,882
2016	2,962
2017	1,106
Thereafter	3,944
Total	$ 22,515

Summary of Assets and Capital Expenditures by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Assets	$ 7,276,594	$ 6,899,496
Capital expenditures	240,985	184,146
Wynn Las Vegas
Segment Reporting Information [Line Items]
Assets	3,669,881	4,035,398
Capital expenditures	41,552	65,207
Wynn Macau
Segment Reporting Information [Line Items]
Assets	3,004,658	2,202,683
Capital expenditures	189,384	115,702
Corporate and Other
Segment Reporting Information [Line Items]
Assets	602,055	661,415
Capital expenditures	$ 10,049	$ 3,237

Summary of Results of Operations by Segment (Detail) - USD ($)

3 Months Ended

12 Months Ended

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Segment Reporting Information [Line Items]

Net revenues

$ 1,289,084,000

$ 1,298,495,000

$ 1,253,207,000

$ 1,313,498,000

$ 1,343,863,000

$ 1,298,304,000

$ 1,367,353,000

$ 1,260,272,000

$ 5,154,284,000

$ 5,269,792,000

$ 4,184,698,000

Adjusted Property EBITDA

^[1]

1,575,812,000

1,635,268,000

1,162,985,000

Other operating costs and expenses

Pre-opening costs

466,000

9,496,000

Depreciation and amortization

373,199,000

398,039,000

405,558,000

Property charges and other

39,978,000

130,649,000

25,219,000

Corporate expenses and other

131,807,000

96,868,000

96,659,000

Equity in income from unconsolidated affiliates

1,086,000

1,472,000

801,000

Total other operating costs and expenses

546,536,000

627,028,000

537,733,000

Operating income

257,962,000

247,092,000

264,123,000

260,099,000

274,806,000

239,845,000

213,033,000

280,556,000

1,029,276,000

1,008,240,000

625,252,000

Other non-operating costs and expenses

Interest income

12,543,000

7,654,000

2,498,000

Interest expense, net of amounts capitalized

(288,759,000)

(229,918,000)

(222,863,000)

Increase (decrease) in swap fair value

991,000

14,151,000

(880,000)

Loss from extinguishment of debt/exchange offer

(25,151,000)

(67,990,000)

Equity in income from unconsolidated affiliates

1,086,000

1,472,000

801,000

Other

3,012,000

3,968,000

225,000

Total other non-operating costs and expenses

(296,278,000)

(202,673,000)

(288,209,000)

Income before income taxes

732,998,000

805,567,000

337,043,000

(Provision) benefit for income taxes

(4,299,000)

19,546,000

(20,447,000)

Net income

$ 165,826,000

$ 165,171,000

$ 199,293,000

$ 198,409,000

$ 258,262,000

$ 185,185,000

$ 155,331,000

$ 226,335,000

728,699,000

825,113,000

316,596,000

Wynn Las Vegas

Segment Reporting Information [Line Items]

Net revenues

1,486,830,000

1,480,719,000

1,296,064,000

Adjusted Property EBITDA

^[1]

408,472,000

439,036,000

270,299,000

Wynn Macau

Segment Reporting Information [Line Items]

Net revenues

3,667,454,000

3,789,073,000

2,888,634,000

Adjusted Property EBITDA

^[1]

$ 1,167,340,000

$ 1,196,232,000

$ 892,686,000

[1]

"Adjusted Property EBITDA" is earnings before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other, corporate expenses, intercompany golf course and water rights leases, stock-based compensation, and other non-operating income and expenses and includes equity in income from unconsolidated affiliates. Adjusted Property EBITDA is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDA as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors. The Company also presents Adjusted Property EBITDA because it is used by some investors as a way to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDA as a supplement to financial measures in accordance with U.S. generally accepted accounting principles ("GAAP"). In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including Wynn Resorts, Limited, have historically excluded from their EBITDA calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, which do not relate to the management of specific casino properties. However, Adjusted Property EBITDA should not be considered as an alternative to operating income as an indicator of the Company's performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDA does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDA. Also, Wynn Resorts' calculation of Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

Selected Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Effect of Fourth Quarter Events [Line Items]
Net revenues	$ 1,289,084	$ 1,298,495	$ 1,253,207	$ 1,313,498	$ 1,343,863	$ 1,298,304	$ 1,367,353	$ 1,260,272	$ 5,154,284	$ 5,269,792	$ 4,184,698
Operating income	257,962	247,092	264,123	260,099	274,806	239,845	213,033	280,556	1,029,276	1,008,240	625,252
Net income	165,826	165,171	199,293	198,409	258,262	185,185	155,331	226,335	728,699	825,113	316,596
Net income attributable to Wynn Resorts	$ 111,373	$ 112,035	$ 138,064	$ 140,564	$ 190,473	$ 127,063	$ 122,031	$ 173,804	$ 502,036	$ 613,371	$ 160,127
Basic income per share	$ 1.11	$ 1.12	$ 1.38	$ 1.25	$ 1.53	$ 1.02	$ 0.98	$ 1.40	$ 4.87	$ 4.94	$ 1.30
Diluted income per share	$ 1.10	$ 1.11	$ 1.37	$ 1.23	$ 1.52	$ 1.01	$ 0.97	$ 1.39	$ 4.82	$ 4.88	$ 1.29

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.23)
-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 18
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 20
-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Subsequent Events - Additional Information (Detail) - Subsequent Event - $ / shares	1 Months Ended
	Feb. 28, 2013	Jan. 31, 2013	Feb. 22, 2013
Subsequent Event [Line Items]
Declared cash dividend	$ 1
Dividend payable, date declared		Jan. 31, 2013
Dividend payable, date to be paid		Feb. 28, 2013
Dividend payable, record date		Feb. 14, 2013
Directors
Subsequent Event [Line Items]
Percentage of affirmative vote for removal proposal			85.70%
Percentage of shares voted in favor of removal of Mr. Okada			99.60%

Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current assets:
Cash and cash equivalents	$ 1,725,219	$ 1,262,587	$ 1,258,499	$ 1,991,830
Investment securities	138,887	122,066
Receivables	238,573	238,490
Total current assets	2,202,378	1,726,452
Property and equipment, net	4,727,899	4,865,332
Other assets	99,227	125,712
Investment in subsidiaries	4,270	4,376
Total assets	7,276,594	6,899,496
Current liabilities:
Accounts payable	164,858	171,608
Accrued compensation and benefits	75,962	78,717
Interest payable	100,562	49,989
Other accrued liabilities	44,244	94,642
Deferred income taxes, net	3,178	3,575
Total current liabilities	1,131,377	1,579,893
Long-term debt	5,781,770	2,809,785
Other long term liabilities	137,830	128,216
Uncertain tax position liability	29,100	25,100	35,900
Deferred income taxes, net	45,499	54,294
Total liabilities	7,172,662	4,676,042
Commitments and contingencies (Note 2)
Stockholders' equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding
Common stock, par value $0.01; 400,000,000 shares authorized; 113,730,442 and 137,937,088 shares issued; and, 100,866,712 and 125,080,998 shares outstanding	1,137	1,379
Treasury stock, at cost; 12,863,730 and 12,856,090 shares	(1,127,947)	(1,127,036)
Additional paid-in capital	818,821	3,177,471
Accumulated other comprehensive income	4,177	840
Retained earnings	44,775	36,368
Total Wynn Resorts, Limited stockholders' equity (deficit)	(259,037)	2,089,022
Noncontrolling interest	362,969	134,432
Total equity	103,932	2,223,454	2,380,585	3,160,363
Total liabilities and stockholders' equity	7,276,594	6,899,496
Wynn Resorts, Ltd
Current assets:
Cash and cash equivalents	179,939	378,486	$ 662,561	$ 85,648
Investment securities	89,155	108,676
Receivables	1,328	2,151
Prepaid expenses	2,698	1,003
Total current assets	273,120	490,316
Property and equipment, net	11,737	12,161
Investment securities	36,484	39,419
Other assets	33,682
Due from subsidiaries	232,400	173,583
Investment in subsidiaries	1,586,186	1,611,198
Total assets	2,173,609	2,326,677
Current liabilities:
Accounts payable	171	1,274
Accrued compensation and benefits	1,796	5,811
Interest payable	33,650
Other accrued liabilities	3,750	1,768
Deferred income taxes, net	3,178	3,575
Total current liabilities	42,545	12,428
Long-term debt	1,936,443
Other long term liabilities	16,051	11,388
Uncertain tax position liability	29,139	25,112
Deferred income taxes, net	45,499	54,295
Total liabilities	2,069,677	103,223
Commitments and contingencies (Note 2)
Stockholders' equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding
Common stock, par value $0.01; 400,000,000 shares authorized; 113,730,442 and 137,937,088 shares issued; and, 100,866,712 and 125,080,998 shares outstanding	1,137	1,379
Treasury stock, at cost; 12,863,730 and 12,856,090 shares	(1,127,947)	(1,127,036)
Additional paid-in capital	818,821	3,177,471
Accumulated other comprehensive income	4,177	840
Retained earnings	44,775	36,368
Total Wynn Resorts, Limited stockholders' equity (deficit)	(259,037)	2,089,022
Noncontrolling interest	362,969	134,432
Total equity	103,932	2,223,454
Total liabilities and stockholders' equity	$ 2,173,609	$ 2,326,677

Condensed Balance Sheets (Parenthetical) (Detail) - $ / shares	Dec. 31, 2012	Dec. 31, 2011
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, par shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	113,730,442	137,937,088
Common stock, shares outstanding	100,866,712	125,080,998
Treasury stock, shares	12,863,730	12,856,090
Wynn Resorts, Ltd
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, par shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	113,730,442	137,937,088
Common stock, shares outstanding	100,866,712	125,080,998
Treasury stock, shares	12,863,730	12,856,090

Condensed Statements Of Income (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating revenues:
Net revenues	$ 1,289,084	$ 1,298,495	$ 1,253,207	$ 1,313,498	$ 1,343,863	$ 1,298,304	$ 1,367,353	$ 1,260,272	$ 5,154,284	$ 5,269,792	$ 4,184,698
Operating costs and expenses:
General and administrative									441,699	389,053	391,254
Depreciation and amortization									373,199	398,039	405,558
Property charges and other									39,978	130,649	25,219
Total operating costs and expenses									4,125,008	4,261,552	3,559,446
Operating income	257,962	247,092	264,123	260,099	274,806	239,845	213,033	280,556	1,029,276	1,008,240	625,252
Other income (expense):
Interest and other income									12,543	7,654	2,498
Interest expense									(288,759)	(229,918)	(222,863)
Equity in income of subsidiaries									1,086	1,472	801
Other income (expense), net									(296,278)	(202,673)	(288,209)
Income before income taxes									732,998	805,567	337,043
(Provision) benefit for income taxes									(4,299)	19,546	(20,447)
Net income	165,826	165,171	199,293	198,409	258,262	185,185	155,331	226,335	728,699	825,113	316,596
Less: Net income attributable to noncontrolling interests.									(226,663)	(211,742)	(156,469)
Net income attributable to Wynn Resorts, Limited	$ 111,373	$ 112,035	$ 138,064	$ 140,564	$ 190,473	$ 127,063	$ 122,031	$ 173,804	$ 502,036	$ 613,371	$ 160,127
Net income:
Basic	$ 1.11	$ 1.12	$ 1.38	$ 1.25	$ 1.53	$ 1.02	$ 0.98	$ 1.40	$ 4.87	$ 4.94	$ 1.30
Diluted	$ 1.10	$ 1.11	$ 1.37	$ 1.23	$ 1.52	$ 1.01	$ 0.97	$ 1.39	$ 4.82	$ 4.88	$ 1.29
Weighted average common shares outstanding:
Basic									103,092	124,039	122,787
Diluted									104,249	125,667	123,939
Wynn Resorts, Ltd
Operating revenues:
Net revenues									$ 169,419	$ 174,692	$ 134,363
Operating costs and expenses:
General and administrative									70,602	30,421	31,468
Provision for doubtful accounts											(68)
Depreciation and amortization									421	421	483
Property charges and other									33		163
Total operating costs and expenses									71,056	30,842	32,046
Operating income									98,363	143,850	102,317
Other income (expense):
Interest and other income									1,116	865	1,750
Interest expense									(33,650)
Equity in income of subsidiaries									665,127	669,589	263,684
Other income (expense), net									632,593	670,454	265,434
Income before income taxes									730,956	814,304	367,751
(Provision) benefit for income taxes									(2,257)	10,809	(51,155)
Net income									728,699	825,113	316,596
Less: Net income attributable to noncontrolling interests.									(226,663)	(211,742)	(156,469)
Net income attributable to Wynn Resorts, Limited									$ 502,036	$ 613,371	$ 160,127
Net income:
Basic									$ 4.87	$ 4.94	$ 1.30
Diluted									$ 4.82	$ 4.88	$ 1.29
Weighted average common shares outstanding:
Basic									103,092	124,039	122,787
Diluted									104,249	125,667	123,939
Wynn Resorts, Ltd \| Wynn Las Vegas
Operating revenues:
Management/Royalty fees									$ 22,318	$ 22,229	$ 19,459
Wynn Resorts, Ltd \| Wynn Macau
Operating revenues:
Management/Royalty fees									$ 147,101	$ 152,463	$ 114,904

Condensed Statements Of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities:
Net income	$ 165,826	$ 165,171	$ 199,293	$ 198,409	$ 258,262	$ 185,185	$ 155,331	$ 226,335	$ 728,699	$ 825,113	$ 316,596
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization									373,199	398,039	405,558
Deferred income taxes									(3,655)	(10,822)	18,875
Stock-based compensation									19,648	23,881	27,168
Equity in income of subsidiaries									(1,086)	(1,472)	(801)
Increase (decrease) in cash from changes in:
Receivables									(21,019)	(84,653)	(63,073)
Accounts payable, accrued expenses and other									(12,581)	220,772	213,578
Net cash provided by operating activities									1,185,718	1,515,835	1,057,312
Cash flows from investing activities:
Proceeds from sales or maturities of investment securities									216,051	101,017
Net cash (used in) provided by investing activities									(344,854)	(459,100)	(296,123)
Cash flows from financing activities:
Dividends paid									(955,493)	(1,033,447)	(1,192,138)
Exercise of stock options									15,583	23,859	66,186
Purchase of treasury stock									(911)	(7,629)
Net cash used in financing activities									(382,479)	(1,057,641)	(1,492,636)
Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents									462,632	4,088	(733,331)
Balance, beginning of year				1,262,587				1,258,499	1,262,587	1,258,499	1,991,830
Balance, end of year	1,725,219				1,262,587				1,725,219	1,262,587	1,258,499
Wynn Resorts, Ltd
Cash flows from operating activities:
Net income									728,699	825,113	316,596
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization									421	421	483
Deferred income taxes									(3,655)	(10,809)	51,155
Stock-based compensation									11,894	10,663	10,792
Amortization of discount on investment securities and other									3,762		163
Dividends received from subsidiary									700,025	578,240	1,509,584
Equity in income of subsidiaries									(665,127)	(669,589)	(263,684)
Increase (decrease) in cash from changes in:
Receivables									823	(1,610)	(178)
Prepaid expenses									(1,695)	(9)	4
Accounts payable, accrued expenses and other									38,337	5,168	(8,305)
Due from affiliates									(22,318)	(22,065)	(9,040)
Net cash provided by operating activities									791,166	715,523	1,607,570
Cash flows from investing activities:
Redemption of Wynn Las Vegas First Mortgage Notes											30,000
Purchase of investment securities									(183,484)	(249,374)
Proceeds from sales or maturities of investment securities									202,406	101,017
Purchase of other assets									(33,682)
Due from subsidiaries									(34,132)	(55,673)	(25,300)
Net cash (used in) provided by investing activities									(48,892)	(204,030)	4,700
Cash flows from financing activities:
Capital contribution to Wynn Las Vegas LLC											(50,000)
Dividends paid									(955,493)	(811,798)	(1,051,543)
Exercise of stock options									15,583	23,859	66,186
Purchase of treasury stock									(911)	(7,629)
Net cash used in financing activities									(940,821)	(795,568)	(1,035,357)
Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents									(198,547)	(284,075)	576,913
Balance, beginning of year				$ 378,486				$ 662,561	378,486	662,561	85,648
Balance, end of year	$ 179,939				$ 378,486				$ 179,939	$ 378,486	$ 662,561

WYNN RESORTS, LIMITED (Parent Company Only) (Basis of Presentation) - Additional Information (Detail)	1 Months Ended
	Oct. 31, 2009 shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock of subsidiary sold	1,437,500,000
Percentage of subsidiary's common stock sold	27.70%

WYNN RESORTS, LIMITED (Parent Company Only) (Commitments and Contingencies) - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Wynn Resorts, Ltd
Commitments and Contingencies [Line Items]
Cash dividends paid to parent company	$ 700.0	$ 578.3	$ 1,510.0

WYNN RESORTS, LIMITED (Parent Company Only) (Equity Repurchase Program) - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended		72 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012
Equity [Line Items]
Repurchase of equity amount authorized	$ 1,700,000
Treasury stock, shares	12,863,730	12,856,090	12,863,730
Stock repurchases, value	$ 911	$ 7,629	$ 1,100,000
Stock repurchases, shares	7,640	51,136
Wynn Resorts, Ltd
Equity [Line Items]
Repurchase of equity amount authorized	$ 1,700,000
Treasury stock, shares	12,863,730	12,856,090	12,863,730
Stock repurchases, value			$ 1,100,000
Stock repurchases, shares	7,640	51,136

- Definition

Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method.

+ References + Details

WYNN RESORTS, LIMITED (Parent Company only)(Long Term Debt) - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 18, 2012	Dec. 31, 2012	Dec. 31, 2011
Condensed Financial Statements, Captions [Line Items]
Common stock redeemed, shares	24,549,222
Redemption Price Promissory Note With Former Stockholder And Related Party, Due February 18, 2022; Interest At 2%
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		$ 1,940
Long-term debt due date		Feb. 18, 2022	Feb. 18, 2022
Debt instrument, interest rate		2.00%	2.00%
Wynn Resorts, Ltd
Condensed Financial Statements, Captions [Line Items]
Common stock redeemed, shares	24,549,222
Wynn Resorts, Ltd \| Redemption Price Promissory Note With Former Stockholder And Related Party, Due February 18, 2022; Interest At 2%
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	$ 1,940
Long-term debt due date	Feb. 18, 2022
Debt instrument, interest rate	2.00%

WYNN RESORTS, LIMITED (Parent Company Only) (Noncontrolling Interest) - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended					12 Months Ended
	Nov. 16, 2011 USD ($)	Nov. 16, 2011 $ / shares	Nov. 02, 2010 USD ($)	Nov. 02, 2010 $ / shares	Oct. 31, 2009 USD ($) shares	Dec. 31, 2012 USD ($) $ / shares	Dec. 31, 2011 USD ($) $ / shares	Dec. 31, 2010 USD ($) $ / shares
Noncontrolling Interest [Line Items]
Common stock of subsidiary sold \| shares					1,437,500,000
Percentage of subsidiary's common stock sold					27.70%
Net income attributable to non-controlling interests						$ 226,663	$ 211,742	$ 156,469
Reduction in noncontrolling interest	$ 221,600		$ 140,700
Dividend per share \| $ / shares						$ 9.50	$ 6.50	$ 8.50
Wynn Resorts, Ltd
Noncontrolling Interest [Line Items]
Common stock of subsidiary sold \| shares					1,437,500,000
Percentage of subsidiary's common stock sold					27.70%
Proceeds from issuance of common stock					$ 1,800,000
Net income attributable to non-controlling interests						$ 226,663	$ 211,742	$ 156,469
Company share of dividend						$ 700,025	$ 578,240	$ 1,509,584
Reduction in noncontrolling interest	221,600		140,700
Wynn Resorts, Ltd \| Wynn Macau Limited Ipo
Noncontrolling Interest [Line Items]
Total dividend	800,000		508,000
Company share of dividend	$ 578,300		$ 367,000
Dividend per share \| $ / shares		$ 1.20		$ 0.76

WYNN RESORTS, LIMITED (Parent Company Only) (Litigation) - Additional Information (Detail) $ in Millions	1 Months Ended
	Feb. 18, 2012 USD ($) shares	Feb. 22, 2013 shares	Dec. 31, 2012 Derivative	Feb. 22, 2012 shares	May 31, 2011 USD ($) Person	May 03, 2010 USD ($)
Condensed Financial Statements, Captions [Line Items]
Common stock redeemed, shares \| shares	24,549,222
Debt purchase price percentage of aggregate principal amount			101.00%
Number of derivative actions commenced			6
Number of derivative actions commenced in the U.S. District Court			4
Number of derivative actions commenced in State Court			2
Subsequent Event \| Directors
Condensed Financial Statements, Captions [Line Items]
Percentage of shares voted in favor of removal of Mr. Okada		99.60%
Number of shares voted \| shares		86,000,000
Percentage of affirmative vote for removal proposal		85.70%
Wynn Resorts, Ltd
Condensed Financial Statements, Captions [Line Items]
Common stock redeemed, shares \| shares	24,549,222
Debt purchase price percentage of aggregate principal amount			101.00%
Number of derivative actions commenced			6
Number of derivative actions commenced in the U.S. District Court			4
Number of derivative actions commenced in State Court			2
Wynn Resorts, Ltd \| Aruze USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Common stock redeemed, shares \| shares	24,549,222
Redemption price promissory note, principal amount \| $	$ 1,940
Redemption price promissory note, maturity date	February 18, 2022
Redemption price promissory note, interest rate	2.00%
Wynn Resorts, Ltd \| Wynn Macau
Condensed Financial Statements, Captions [Line Items]
Donation to University of Macau Development Foundation \| $					$ 25
Commitment for additional donations to be made \| $					$ 10
Number of board members on the Board of Directors who approved donations \| Person					15
Number of board members on the Board of Directors \| Person					16
Wynn Resorts, Ltd \| Subsequent Event \| Directors
Condensed Financial Statements, Captions [Line Items]
Percentage of shares voted in favor of removal of Mr. Okada		99.60%		99.60%
Number of shares voted \| shares				86,000,000
Percentage of affirmative vote for removal proposal		85.70%
Wynn Resorts, Ltd \| Pending Litigation
Condensed Financial Statements, Captions [Line Items]
Loss contingency, estimate of possible loss \| $						$ 32

WYNN RESORTS, LIMITED (Parent Company Only) (Subsequent Events) (Detail) - Subsequent Event - Directors	Feb. 22, 2013	Feb. 22, 2012
Condensed Financial Statements, Captions [Line Items]
Percentage of affirmative vote for removal proposal	85.70%
Percentage of shares voted in favor of removal of Mr. Okada	99.60%
Wynn Resorts, Ltd
Condensed Financial Statements, Captions [Line Items]
Percentage of affirmative vote for removal proposal	85.70%
Percentage of shares voted in favor of removal of Mr. Okada	99.60%	99.60%

Valuation And Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 91,854	$ 77,452	$ 82,129
Provisions for Doubtful Accounts	18,091	33,778	28,304
Write-offs, Net of Recoveries	(7,732)	(19,376)	(32,981)
Ending balance	102,213	91,854	77,452
Valuation Allowance of Deferred Tax Assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	1,812,482	1,285,916	711,719
Provisions for Doubtful Accounts	29,132	533,474	574,197
Write-offs, Net of Recoveries	(10,069)	(6,908)
Ending balance	$ 1,831,545	$ 1,812,482	$ 1,285,916