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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2017	Feb. 15, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
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		103,017,861
Entity Public Float			$ 10,740

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 2,804,474	$ 2,453,122
Investment securities	166,773	173,437
Receivables, net	224,128	218,968
Inventories	71,636	91,541
Prepaid expenses and other	156,773	53,299
Total current assets	3,423,784	2,990,367
Property and equipment, net	8,498,756	8,259,631
Restricted cash	2,160	192,823
Investment securities	160,682	128,023
Intangible assets, net	123,705	113,588
Deferred income taxes, net	240,533	0
Other assets	232,119	269,125
Total assets	12,681,739	11,953,557
Current liabilities:
Accounts and construction payables	285,437	298,505
Customer deposits	1,049,629	599,566
Gaming taxes payable	211,600	162,706
Accrued compensation and benefits	140,450	165,501
Accrued interest	94,695	98,118
Current portion of long-term debt	62,690	0
Other accrued liabilities	85,789	91,905
Total current liabilities	1,930,290	1,416,301
Long-term debt	9,565,936	10,125,352
Other long-term liabilities	107,163	87,462
Deferred income taxes, net	0	66,561
Total liabilities	11,603,389	11,695,676
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, par value $0.01; 400,000,000 shares authorized; 116,391,753 and 115,036,945 shares issued; 103,005,866 and 101,799,471 shares outstanding, respectively	1,164	1,150
Treasury stock, at cost; 13,385,887 and 13,237,474 shares, respectively	(1,184,468)	(1,166,697)
Additional paid-in capital	1,497,928	1,226,915
Accumulated other comprehensive income (loss)	(1,845)	1,484
Retained earnings	635,067	95,097
Total Wynn Resorts, Limited stockholders' equity	947,846	157,949
Noncontrolling interests	130,504	99,932
Total stockholders' equity	1,078,350	257,881
Total liabilities and stockholders' equity	$ 12,681,739	$ 11,953,557

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
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	116,391,753	115,036,945
Common stock, shares outstanding	103,005,866	101,799,471
Treasury stock, shares	13,385,887	13,237,474

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating revenues:
Casino	$ 4,948,319	$ 3,268,141	$ 2,932,419
Rooms	704,202	603,272	538,500
Food and beverage	690,942	601,514	597,080
Entertainment, retail and other	424,783	363,428	350,622
Gross revenues	6,768,246	4,836,355	4,418,621
Less: promotional allowances	(461,878)	(370,058)	(342,738)
Net revenues	6,306,368	4,466,297	4,075,883
Operating expenses:
Casino	3,197,729	2,079,740	1,862,687
Rooms	177,511	157,904	149,009
Food and beverage	410,825	375,234	361,246
Entertainment, retail and other	177,328	161,144	157,432
General and administrative	685,485	548,141	464,793
(Benefit) provision for doubtful accounts	(6,711)	8,203	11,115
Pre-opening	26,692	154,717	77,623
Depreciation and amortization	552,368	404,730	322,629
Property charges and other	29,576	54,822	10,535
Total operating expenses	5,250,803	3,944,635	3,417,069
Operating income	1,055,565	521,662	658,814
Other income (expense):
Interest income	31,193	13,536	7,229
Interest expense, net of amounts capitalized	(388,664)	(289,365)	(300,906)
Change in interest rate swap fair value	(1,056)	433	(5,300)
Change in Redemption Note fair value	(59,700)	65,043	52,041
Loss on extinguishment of debt	(55,360)	0	(126,004)
Equity in income from unconsolidated affiliates	0	16	1,823
Other	(21,709)	(728)	1,550
Other income (expense), net	(495,296)	(211,065)	(369,567)
Income before income taxes	560,269	310,597	289,247
Benefit (provision) for income taxes	328,985	(8,128)	(7,723)
Net income	889,254	302,469	281,524
Less: net income attributable to noncontrolling interests	(142,073)	(60,494)	(86,234)
Net income attributable to Wynn Resorts, Limited	$ 747,181	$ 241,975	$ 195,290
Net income attributable to Wynn Resorts, Limited:
Earnings Per Share, Basic	$ 7.32	$ 2.39	$ 1.93
Earnings Per Share, Diluted	$ 7.28	$ 2.38	$ 1.92
Weighted average common shares outstanding:
Basic (in shares)	102,071	101,445	101,163
Diluted (in shares)	102,598	101,855	101,671

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 889,254	$ 302,469	$ 281,524
Other comprehensive income (loss):
Foreign currency translation adjustments, before and after tax	(3,832)	(180)	(448)
Unrealized gain (loss) on available-for-sale securities, before and after tax	(563)	522	(1,086)
Total comprehensive income	884,859	302,811	279,990
Less: comprehensive income attributable to noncontrolling interests	(141,007)	(60,444)	(86,113)
Comprehensive income attributable to Wynn Resorts, Limited	$ 743,852	$ 242,367	$ 193,877

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Total Wynn Resorts, Limited stockholders' equity (deficit)	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests	Retail Joint Venture [Member]
Beginning balance (in shares) at Dec. 31, 2014			101,439,297
Beginning balance at Dec. 31, 2014	$ 211,091	$ (28,779)	$ 1,144	$ (1,145,481)	$ 948,566	$ 2,505	$ 164,487	$ 239,870
Net income	281,524	195,290					195,290	86,234
Currency translation adjustment	(448)	(327)				(327)		(121)
Net unrealized gain (loss) on investments	(1,086)	(1,086)				(1,086)		0
Exercise of stock options (in shares)			50,716
Exercise of stock options	$ 3,026	3,026	$ 1		3,025			0
Shares repurchased by the company and held as treasury shares (in shares)	(50,869)		(50,869)
Shares repurchased by the company and held as treasury shares	$ (7,199)	(7,199)		(7,199)
Issuance of restricted stock (in shares)			132,765
Issuance of restricted stock			$ 1		(1)
Shares of subsidiary repurchased for share award plan	(4,391)	(3,169)			(3,169)			(1,222)
Cash dividends declared	(499,884)	(304,445)			0		(304,445)	(195,439)
Cash dividends declared	304,400
Excess tax benefits from stock-based compensation	387	387			387
Stock-based compensation	38,825	34,323			34,323			4,502
Ending balance (in shares) at Dec. 31, 2015			101,571,909
Ending balance at Dec. 31, 2015	21,845	(111,979)	$ 1,146	(1,152,680)	983,131	1,092	55,332	133,824
Net income	302,469	241,975					241,975	60,494
Currency translation adjustment	(180)	(130)				(130)		(50)
Net unrealized gain (loss) on investments	522	522				522		0
Exercise of stock options (in shares)			74,000
Exercise of stock options	$ 3,487	3,487	$ 1		3,486			0
Cancellation of restricted stock (in shares)			(60,000)
Cancellation of restricted stock			$ (1)		1
Shares repurchased by the company and held as treasury shares (in shares)	(198,942)		(198,942)
Shares repurchased by the company and held as treasury shares	$ (14,017)	(14,017)		(14,017)
Issuance of restricted stock (in shares)			412,504
Issuance of restricted stock			$ 4		(4)
Shares of subsidiary repurchased for share award plan	(7,580)	(5,471)			(5,471)			(2,109)
Sale of ownership interest in a subsidiary, net of income tax expense	239,903	224,013			224,013
Noncontrolling Interest, Increase from Sale of Parent Equity Interest									$ 15,890
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	33
Cash dividends declared	(313,926)	(202,210)			0		(202,210)	(111,716)
Cash dividends declared	202,200
Excess tax benefits from stock-based compensation	802	802			802
Stock-based compensation	24,589	20,957			20,957			3,632
Ending balance (in shares) at Dec. 31, 2016			101,799,471
Ending balance at Dec. 31, 2016	257,881	157,949	$ 1,150	(1,166,697)	1,226,915	1,484	95,097	99,932
Effect of change in accounting for stock-based compensation	111	111			2,807		(2,696)
Balance - adjusted	257,992	158,060	$ 1,150	(1,166,697)	1,229,722	1,484	92,401	99,932
Net income	889,254	747,181					747,181	142,073
Currency translation adjustment	(3,832)	(2,766)				(2,766)		(1,066)
Net unrealized gain (loss) on investments	(563)	(563)				(563)		0
Exercise of stock options (in shares)			661,800
Exercise of stock options	62,209	61,995	$ 7		61,988			214
Stock Issued During Period, Shares, Restricted Stock Award, Gross			706,341
Stock Issued During Period, Shares, New Issues	19,225		$ 7		18,565
Cancellation of restricted stock (in shares)			(13,333)
Cancellation of restricted stock	$ 0		$ 0		0
Shares repurchased by the company and held as treasury shares (in shares)	(148,413)		(148,413)
Shares repurchased by the company and held as treasury shares	$ (17,771)	(17,771)		(17,771)
Issuance of restricted stock		18,572						653
Shares of subsidiary repurchased for share award plan	(392)	(283)			(283)			(109)
Sale of ownership interest in a subsidiary, net of income tax expense	162,497	149,259			149,259
Noncontrolling Interest, Increase from Sale of Parent Equity Interest									$ 13,238
Distributed Earnings		0			0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	11,436							11,436
Cash dividends declared	(321,083)				0		(204,515)	(116,568)
Cash dividends declared	204,515
Stock-based compensation	42,250	38,677			38,677			3,573
Ending balance (in shares) at Dec. 31, 2017			103,005,866
Ending balance at Dec. 31, 2017	$ 1,078,350	$ 947,846	$ 1,164	$ (1,184,468)	$ 1,497,928	$ (1,845)	$ 635,067	$ 130,504

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Tax expense on sale of ownership interest in subsidiary	$ 17.8	$ 49.8

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 889,254	$ 302,469	$ 281,524
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	552,368	404,730	322,629
Deferred income taxes	(310,854)	6,356	6,498
Stock-based compensation expense	43,971	43,722	38,475
Excess tax benefits from stock-based compensation	0	(742)	(792)
Amortization of debt issuance costs	25,013	24,326	19,785
Loss on extinguishment of debt	55,360	0	126,004
(Benefit) provision for doubtful accounts	(6,711)	8,203	11,115
Property Charges and Other	44,004	42,670	9,664
Equity in income of unconsolidated affiliates, net of distributions	0	0	1,615
Change in interest rate swap fair value	1,056	(433)	5,300
Change in Redemption Note fair value	59,700	(65,043)	(52,041)
Increase (decrease) in cash from changes in:
Receivables, net	829	(39,272)	47,011
Inventories and prepaid expenses and other	(4,372)	(36,642)	(23,613)
Customer deposits	456,005	163,217	(112,748)
Accounts payable and accrued expenses	70,954	116,985	(107,613)
Net cash provided by operating activities	1,876,577	970,546	572,813
Cash flows from investing activities:
Capital expenditures, net of construction payables and retention	(935,474)	(1,225,943)	(1,921,240)
Purchase of investment securities	(229,328)	(196,750)	(253,284)
Proceeds from sale or maturity of investment securities	200,366	144,829	247,723
Return of investment in unconsolidated affiliates	0	727	1,901
Purchase of intangible assets and other assets	(13,571)	(14,985)	(3,912)
Proceeds from sale of assets	20,374	3,872	37,254
Net cash used in investing activities	(957,633)	(1,288,250)	(1,891,558)
Cash flows from financing activities:
Proceeds from exercise of stock options	62,209	3,487	3,026
Excess tax benefits from stock-based compensation	0	742	792
Sale of ownership interest in subsidiary	180,000	217,000	0
Dividends paid	(320,760)	(325,217)	(499,107)
Distribution to noncontrolling interest	(11,436)	(33)	0
Proceeds from issuance of long-term debt	2,429,988	1,430,313	5,290,747
Repayments of long-term debt	(2,959,843)	(400,707)	(3,342,106)
Restricted cash	190,643	(190,763)	(1,083)
Repurchase of common stock	(17,771)	(14,017)	(7,199)
Incometaxespaidfromsaleofownershipinterestinsubsidiary	(25,176)	0	0
Shares of subsidiary repurchased for share award plan	(392)	(7,580)	(4,391)
Payments on long-term land concession obligation	0	(15,978)	(30,833)
Payment of financing costs	(91,174)	(5,381)	(193,588)
Net cash (used in) provided by financing activities	(563,712)	691,866	1,216,258
Effect of exchange rate on cash	(3,880)	(1,129)	412
Cash and cash equivalents:
Increase (decrease) in cash and cash equivalents	351,352	373,033	(102,075)
Balance, beginning of year	2,453,122
Balance, end of year	2,804,474	2,453,122
Supplemental cash flow disclosures
Cash paid for interest, net of amounts capitalized	367,074	265,076	291,313
Cash paid for income taxes	37,089	2,040	2,873
Capital Lease Obligations Incurred	16,593	0	0
Stock-based compensation capitalized into construction	80	92	350
Stock Issued	19,225	0	0
Change in accounts and construction payables related to property and equipment	(35,447)	(34,049)	13,031
Change in dividends payable on unvested restricted stock included in other accrued liabilities	323	(11,291)	777
Note receivable acquired from sale of ownership interest in subsidiary	$ 0	$ 72,464	$ 0

Organization	12 Months Ended
Organization	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Wynn Resorts, Limited, a Nevada corporation (together with its subsidiaries, "Wynn Resorts" or the "Company") is a developer, owner and operator of destination casino resorts (integrated resorts). In the Macau Special Administrative Region of the People's Republic of China ("Macau"), the Company owns approximately 72% of Wynn Macau, Limited ("WML"), which includes the operations of the Wynn Macau and Wynn Palace resorts (collectively, the "Macau Operations"). In Las Vegas, Nevada, the Company operates and, with the exception of the retail space described below, owns 100% of Wynn Las Vegas, which it also refers to as its Las Vegas Operations. Macau Operations Wynn Macau features two luxury hotel towers with a total of 1,008 guest rooms and suites, approximately 273,000 square feet of casino space, eight food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, a rotunda show and recreation and leisure facilities. On August 22, 2016, the Company opened Wynn Palace, an integrated resort in the Cotai area of Macau. Wynn Palace features a luxury hotel tower with 1,706 guest rooms, suites and villas, approximately 420,000 square feet of casino space, 11 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 106,000 square feet of retail space, public attractions, including a performance lake and floral art displays, and recreation and leisure facilities. Las Vegas Operations Wynn Las Vegas features two luxury hotel towers with a total of 4,748 guest rooms, suites and villas, approximately 192,000 square feet of casino space, 33 food and beverage outlets, approximately 290,000 square feet of meeting and convention space, approximately 110,000 square feet of retail space (of which 103,000 square feet is owned and operated under a joint venture of which the Company owns 50.1%), as well as two theaters, three nightclubs and a beach club, and recreation and leisure facilities. In December 2016, the Company entered into a joint venture arrangement (the "Retail Joint Venture") with Crown Acquisitions Inc. ("Crown") to own and operate approximately 88,000 square feet of existing retail space. In November 2017, the Company contributed approximately 74,000 square feet of additional retail space to the Retail Joint Venture, the majority of which is currently under construction at Wynn Las Vegas. The Company expects to open the additional retail space in the second half of 2018. For more information on the Retail Joint Venture, see Note 3, "Retail Joint Venture." Development Projects The Company is currently constructing Wynn Boston Harbor, an integrated resort in Everett, Massachusetts, adjacent to Boston along the Mystic River. The resort will contain a hotel, a waterfront boardwalk, meeting and convention space, casino space, a spa, retail offerings and food and beverage outlets. The Company expects to open Wynn Boston Harbor in mid-2019. The Company has begun site preparation and pre-construction activities for the re-development of the Wynn Las Vegas golf course, which the Company closed in the fourth quarter of 2017. Phase 1 of the project is expected to include a lagoon and additional meeting and convention space. The Company expects to open Phase 1 in the first half of 2020.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company, its majority-owned subsidiaries and entities the Company identifies as a variable interest entity ("VIE") and of which the Company is determined to be the primary beneficiary. For information on the Company's VIEs, see Note 3, "Retail Joint Venture." In April 2016, the Company dissolved its 50%-owned joint venture operating the Ferrari and Maserati automobile dealership inside Wynn Las Vegas, which was closed in October 2015 and 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 current year presentation. These reclassifications had no effect on the previously reported net income.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") 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.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and 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 $450.2 million and $1.11 billion as of December 31, 2017 and 2016, respectively, were invested in bank time deposits, money market funds and commercial paper. In addition, the Company held bank deposits and cash on hand of approximately $2.35 billion and $1.34 billion as of December 31, 2017 and 2016, respectively.

Restricted Cash

The Company's restricted cash consists of cash held in trust in accordance with WML's share award plan and additionally as of December 31, 2016, collateral associated with borrowings under a revolving credit facility.

Investment Securities

Investment securities consist of domestic and foreign short-term and long-term investments in corporate bonds, commercial paper and U.S. government agency bonds reported at fair value, with unrealized gains and losses, net of tax, reported in other comprehensive income (loss). Short-term investments have a maturity date of less than one year and long-term investments are those with a maturity date greater than one year. The Company 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 of its securities at the time of purchase and reevaluates such designation as of each balance sheet date. 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. As of December 31, 2017 and 2016, 81.7% and 88.1%, respectively, 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. An estimated allowance for doubtful accounts is maintained to reduce the Company's receivables to their carrying amount, which approximates fair value. The allowance estimate reflects specific review of customer accounts and outstanding gaming promoter accounts as well as management's experience with historical and current collection trends and current economic and business conditions. Accounts are written off when management deems them to be uncollectible. Recoveries of accounts previously written off are recorded when received.

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



	December 31,
	2017			2016
Casino	$	173,664		$	211,557
Hotel	22,487			21,897
Other	58,577			40,256
	254,728			273,710
Less: allowance for doubtful accounts	(30,600		)	(54,742		)
	$	224,128		$	218,968

Inventories

Inventories consist of retail merchandise and 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, weighted 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:



	Estimated Useful Lives (years)
Buildings and improvements	10 to 45
Land improvements	10 to 45
Furniture, fixtures and equipment	3 to 20
Leasehold interest in land	25
Airplanes	20

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 property charges and other.

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 using the weighted average cost of the Company's outstanding borrowings. Interest of $18.4 million, $94.1 million and $53.3 million was capitalized for the years ended December 31, 2017, 2016 and 2015, respectively.

Intangible Assets

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 primarily of its Macau gaming concession and Massachusetts gaming license. 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 intangible assets 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.

Debt Issuance Costs

Direct and incremental costs and original issue discounts and premiums incurred in connection with the issuance of long-term debt are deferred and amortized to interest expense using the effective interest method or, if the amounts approximate the effective interest method, on a straight-line basis. Debt issuance costs incurred in connection with the issuance of the Company's revolving credit facilities are presented in noncurrent assets on the Consolidated Balance Sheets. All other debt issuance costs are presented as a direct reduction of long-term debt on the Consolidated Balance Sheets. Approximately $18.7 million, $18.1 million and $16.9 million was amortized to interest expense during the years ended December 31, 2017, 2016 and 2015, respectively.

Redemption Price Promissory Note

The Redemption Price Promissory Note (the "Redemption Note") is recorded at fair value in accordance with applicable accounting guidance. As of December 31, 2017 and 2016, the fair value of the Redemption Note was $1.88 billion and $1.82 billion, respectively. In determining this fair value, the Company estimated the Redemption Note's present value using discounted cash flows with a probability weighted expected return for redemption assumptions and a discount rate, which included time value and non-performance risk adjustments commensurate with the risk of the Redemption Note.

Considerations for the redemption assumptions included the stated maturity of the Redemption Note, uncertainty of the related cash flows, as well as potential effects of the following: uncertainties surrounding the potential outcome and timing of pending litigation with Aruze USA, Inc. ("Aruze"), Universal Entertainment Corporation and Mr. Kazuo Okada (collectively, the "Okada Parties") (see Note 14, "Commitments and Contingencies"); the outcome of ongoing investigations of Aruze by the U.S. Attorney's Office, the U.S. Department of Justice and 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 its contractual life.

In determining the appropriate discount rate to be used to calculate the estimated present value, the Company considered the Redemption Note's subordinated position and credit risk relative to all other debt in the Company's capital structure and credit ratings associated with the Company's traded debt. Observable inputs for the risk free rate were based on Federal Reserve rates for U.S. Treasury securities and the credit risk spread was based on a yield curve index of similarly rated debt.

Derivative Financial Instruments

Derivative financial instruments are used to manage interest rate and foreign currency exposures. These derivative financial instruments include interest rate swaps and foreign currency forward contracts. The fair value of derivative financial instruments is recognized as an asset or liability at each balance sheet date, with changes in fair value affecting net income as the Company's derivative financial instruments do not qualify for hedge accounting. 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.

The Company had three interest rate swap agreements intended to hedge a portion of the underlying interest rate risk on borrowings under our Wynn Macau Credit Facilities, which matured in July 2017. Under two of the swap agreements, the Company paid a fixed interest rate (excluding the applicable interest margin) of 0.73% on notional amounts corresponding to borrowings of HK$3.95 billion (approximately $505.1 million) incurred under the 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 fixed the all-in interest rate on such amounts at 2.23% to 2.98%. Under the third swap agreement, the Company paid a fixed interest rate (excluding the applicable interest margin) of 0.68% on notional amounts corresponding to borrowings of $243.8 million incurred under the 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 fixed the all-in interest rate on such amounts at 2.18% to 2.93%.

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 recorded as customer deposits for funds deposited by customers before gaming play occurs and for chips in the customer's possession. The commissions rebated directly or indirectly through games promoters to customers, cash discounts, other cash incentives and points earned by customers from the Company's loyalty programs are recorded as a reduction to casino revenues. Rooms, food and beverage, entertainment and other operating revenues are recognized when services are performed or events are held. 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.

The retail value of rooms, food and beverage, entertainment and other services provided to guests without charge is included in gross revenues and are then deducted as promotional allowances. The estimated retail value of providing such promotional allowances is as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Rooms	$	268,023	$	211,822	$	184,779
Food and beverage	164,466		131,479		133,984
Entertainment, retail and other	29,389		26,757		23,975
	$	461,878	$	370,058	$	342,738

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



	Years Ended December 31,
	2017		2016		2015
Rooms	$	83,884	$	63,448	$	51,775
Food and beverage	143,892		113,341		106,840
Entertainment, retail and other	21,478		17,170		14,414
	$	249,254	$	193,959	$	173,029

Customer Loyalty Programs

The Company offers loyalty programs at both its Macau Operations and its Las Vegas Operations. Under the program at its Macau Operations, customers earn points based on their level of table games and slots play, which can be redeemed for free play, gifts and complimentary dining and retail shopping. Under the program at its Las Vegas Operations, customers earn points based on their level of slots play, which can be redeemed for free play. The points are recognized as a liability and as a separate element of the gaming transaction with allocation of the consideration received between the points and gaming transaction. The initial recognition of the point liability is at fair value based on points earned multiplied by redemption value, less an estimate for points not expected to be redeemed. The revenue from the points is recognized when redeemed.

Gaming Taxes

The Company is subject to taxes based on gross gaming revenues in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments, which taxes are recorded as casino expenses in the accompanying Consolidated Statements of Income. These taxes totaled $2.17 billion, $1.32 billion and $1.15 billion for the years ended December 31, 2017, 2016 and 2015, 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 $37.8 million, $37.0 million and $25.2 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Pre-Opening Expenses

Pre-opening expenses represent personnel, advertising, and other costs incurred prior to the opening of new ventures and are expensed as incurred. During the years ended December 31, 2017, 2016 and 2015, the Company incurred pre-opening expenses primarily in connection with the development of Wynn Boston Harbor and Wynn Palace.

Income Taxes

The Company is subject to income taxes in the U.S. and 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 generally 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 Internal Revenue Service ("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. If a tax position, based on its technical merits, is deemed more likely than not to be sustained, then the tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement.

As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes.

Foreign Currency

Gains or losses from foreign currency remeasurements are included in other income (expense) in the accompanying Consolidated Statements of Income. Balance sheet accounts are translated at the exchange rate in effect at each balance sheet date and 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 and Accumulated Other Comprehensive Income (Loss)

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

The following table presents the changes by component, net of tax and noncontrolling interests, in accumulated other comprehensive income (loss) of the Company (in thousands):



	Foreign currency translation			Unrealized loss on investment securities			Accumulated other comprehensive income (loss)
December 31, 2016	$	2,213		$	(729	)	$	1,484
Current period other comprehensive loss	(2,766		)	(563		)	(3,329		)
December 31, 2017	$	(553	)	$	(1,292	)	$	(1,845	)

Fair Value Measurements

The Company measures certain of its financial assets and liabilities, 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 to measure fair value. These tiers include:


•	Level 1 - Observable inputs such as quoted prices in active markets.


•	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable.


•	Level 3 - 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 (in thousands):



			Fair Value Measurements Using:
	December 31, 2017		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	450,230	$	11,200	$	439,030	$	—
Available-for-sale securities	$	327,455	$	—	$	327,455	$	—
Restricted cash	$	2,160	$	—	$	2,160	$	—

Liabilities:
Redemption Note	$	1,879,058	$	—	$	1,879,058	$	—

			Fair Value Measurements Using:
	December 31, 2016		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	1,106,606	$	3,868	$	1,102,738	$	—
Available-for-sale securities	$	301,460	$	—	$	301,460	$	—
Restricted cash	$	192,823	$	—	$	192,823	$	—
Interest rate swaps	$	1,056	$	—	$	1,056	$	—

Liabilities:
Redemption Note	$	1,819,359	$	—	$	1,819,359	$	—

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 is computed by dividing net income attributable to Wynn Resorts by the weighted average number of common shares outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potential dilutive securities had been issued. Potentially dilutive securities include outstanding stock options and unvested restricted stock.

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS consisted of the following (in thousands, except per share amounts):



	Years Ended December 31,
	2017		2016		2015
Numerator:
Net income attributable to Wynn Resorts, Limited	$	747,181	$	241,975	$	195,290

Denominator:
Weighted average common shares outstanding	102,071		101,445		101,163
Potential dilutive effect of stock options and restricted stock	527		410		508
Weighted average common and common equivalent shares outstanding	102,598		101,855		101,671

Net income attributable to Wynn Resorts, Limited per common share, basic	$	7.32	$	2.39	$	1.93
Net income attributable to Wynn Resorts, Limited per common share, diluted	$	7.28	$	2.38	$	1.92

Anti-dilutive stock options and restricted stock excluded from the calculation of diluted earnings per share	106		758		677

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with accounting standards, which require the compensation cost relating to share-based payment transactions be recognized in the Company's Consolidated Statements of Income. The cost is measured at the grant date, based on the estimated fair value of the award using the Black-Scholes option pricing model for stock options, and based on the closing share price of the Company's stock on the grant date for nonvested share awards. The cost is recognized as an expense on a straight-line basis over the employee's requisite service period (the vesting period of the award). The Company's stock-based employee compensation arrangements are more fully discussed in Note 12, "Stock-Based Compensation."

Recently Adopted Accounting Standards

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718), which amends the existing guidance related to the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The Company adopted the guidance on January 1, 2017 with the following amendments having an impact on its Consolidated Financial Statements:


•	Accounting for income taxes. Under the new guidance, income tax benefits and deficiencies are recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. The amendment was applied prospectively.

•

Forfeitures. The Company elected to make an accounting policy change to account for forfeitures when they occur. The Company applied the amendment using the modified retrospective transition method, which resulted in a cumulative-effect expense adjustment of $2.7 million, net of tax to retained earnings as of December 31, 2016. The adjustment represents the impact of estimated forfeitures on previously recorded compensation expense as of December 31, 2016 from outstanding stock options and unvested share awards under the previous accounting policy.


•	Classification of excess tax benefits on the cash flow statement. Under the new guidance, excess tax benefits will be classified along with other income tax cash flows as an operating activity. The amendment was applied prospectively.

Accounting Standards Issued But Not Yet Adopted

In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows - Restricted Cash (Topic 230), which amends the existing guidance relating to the disclosure of restricted cash and restricted cash equivalents on the statement of cash flows. The ASU requires that amounts generally described as restricted cash or restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The ASU will be effective for the Company on January 1, 2018, with early adoption permitted. The Company will adopt this ASU in the first quarter of 2018 and does not expect a material impact on its Consolidated Statements of Cash Flows.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other than Inventory (Topic 740), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs, rather than deferring such recognition until the asset is sold to an outside party. The ASU will be effective for the Company on January 1, 2018, with early adoption permitted. The amendments in the new guidance should be adopted on a retrospective basis. The Company will adopt this ASU in the first quarter of 2018 and does not expect a material impact on its Consolidated Financial Statements.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments (Topic 230), which clarifies the classification of certain cash receipts and cash payments on the statement of cash flows. In particular, the new guidance clarifies the classification related to several types of cash flows, including items such as debt extinguishment costs and distributions received from equity method investees. The new guidance also provides a three-step approach for classifying cash receipts and payments that have aspects of more than one class of cash flows. The ASU will be effective for the Company on January 1, 2018, with early adoption permitted. The Company will adopt this ASU in the first quarter of 2018 and does not expect a material impact on its Consolidated Statements of Cash Flows.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing guidance relating to the definition of a lease, recognition of lease assets and lease liabilities on the balance sheet, and the disclosure of key information about leasing activities. Under the new guidance, lessees will be required to recognize a right-of-use asset and lease liability on the balance sheet, measured on a discounted basis. Operating leases were previously not recognized on the balance sheet. Lessor accounting will remain largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014. Lessees and lessors are required to apply a modified retrospective transition approach for leases existing at the beginning of the earliest comparative period presented in the adoption-period financial statements. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. The ASU will be effective for the Company on January 1, 2019, with early adoption permitted. The Company is currently assessing the impact the guidance will have on its Consolidated Financial Statements and related disclosures.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 824-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which requires equity investments to be measured at fair value with changes in fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The update also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. This update eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The ASU will be effective for the Company on January 1, 2018 with early adoption permitted. The Company will adopt this ASU in the first quarter of 2018 and is currently assessing the impact the adoption of this standard will have on its Consolidated Financial Statements. The Company expects a portion of the change in its Redemption Note fair value currently included in the Consolidated Statements of Income will be recorded in Accumulated Other Comprehensive Income (Loss) on its Consolidated Balance Sheet.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing revenue recognition guidance and creates a new topic for Revenue from Contracts with Customers. The new guidance is expected to clarify the principles for revenue recognition and to develop a common revenue standard for GAAP applicable to revenue transactions. This guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This guidance also provides substantial revision of interim and annual disclosures. The update allows for either full retrospective adoption, meaning the guidance is applied for all periods presented, or modified retrospective adoption, meaning the guidance is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the guidance recognized at the date of initial application. The Company will adopt this ASU in the first quarter of 2018 on a full retrospective basis. The Company continues to assess the impact this ASU will have on its Consolidated Financial Statements. Adoption of this standard will change the presentation of, and accounting for, goods and services provided to customers without charge currently included in both gross revenues and promotional allowances in the Consolidated Statements of Income. The total promotional allowances will be netted against gross revenues with the majority of the impact resulting in a decrease in casino revenues and the estimated cost of providing the promotional allowances will no longer be allocated primarily to casino expenses. Additionally, certain commission arrangements with third parties will be reclassified out of operating expenses and netted against revenue. Upon retrospective application on January 1, 2018, management estimates the previously reported net revenue and operating expense amounts for the years ended December 31, 2017 and 2016, will decrease by amounts not expected to exceed $240.0 million and $130.0 million, respectively, primarily due to changes in the accounting for certain commissions. The adoption of this guidance is not expected to have a material impact on the Company's financial condition or net income.

Prior Period Adjustments

In the first quarter of 2016, the Company identified $21.9 million and $3.7 million of additional interest that should have been capitalized instead of being expensed during the years ended December 31, 2015 and 2014, respectively. Considering both quantitative and qualitative factors, the Company determined the amounts were immaterial to any previously issued financial statements and to the full year results for 2016. Accordingly, the Company corrected these immaterial amounts during the first quarter of the year ended December 31, 2016, resulting in a decrease to interest expense of $25.6 million and increases to net income attributable to Wynn Resorts, Limited of $18.5 million and basic and diluted net income per common share of $0.18. Had these amounts been corrected in the appropriate periods, it would have resulted in a decrease to interest expense of $21.9 million and increases to net income attributable to Wynn Resorts, Limited of $15.8 million and basic and diluted net income per common share of $0.16, for the year ended December 31, 2015.

Retail Joint Venture Retail Joint Venture	12 Months Ended
Retail Joint Venture Retail Joint Venture	Dec. 31, 2017
Variable Interest Entities [Abstract]
Variable Interest Entity Disclosure	In December 2016, the Company entered into the Retail Joint Venture with Crown to own and operate approximately 88,000 square feet of existing retail space at Wynn Las Vegas. In connection with the transaction, the Company transferred certain assets and liabilities with a net book value of $31.8 million associated with the existing Wynn Las Vegas retail stores from Wynn Las Vegas, LLC, to the Retail Joint Venture. The Company sold Crown a 49.9% ownership interest in the Retail Joint Venture for consideration of $292.0 million, which consisted of $217.0 million in cash and a $75.0 million interest-free note that matured in full on January 3, 2018. As of December 31, 2017 and 2016, the present value of the note was $75.0 million included in prepaid expenses and other and $72.5 million included in other assets, respectively, on the Consolidated Balance Sheets. The cash proceeds will be used to fund future development opportunities and for general corporate purposes. Wynn Las Vegas, LLC transferred all interests as lessor in third-party retail store leases to the Retail Joint Venture as part of the transaction and the majority of the retail stores previously operated by Wynn Las Vegas, LLC are now operated under a master lease agreement between a newly formed retail entity owned by Wynn Resorts, as lessee, and the Retail Joint Venture, as lessor. The Company maintains a 50.1% ownership in the Retail Joint Venture and is the managing member. In November 2017, the Company contributed approximately 74,000 square feet of additional retail space to the Retail Joint Venture, the majority of which is currently under construction at Wynn Las Vegas. The Company expects to open the additional retail space in the second half of 2018. In connection with this transaction, the Company contributed certain assets with a net book value of $25.4 million, consisting primarily of construction in progress for the additional retail space, to the Retail Joint Venture, and received cash of $180.0 million from Crown. The cash proceeds will be used to fund future development opportunities and for general corporate purposes. After this additional transaction, the Company maintains a 50.1% ownership in the Retail Joint Venture and remains the managing member. The Company's responsibilities with respect to the Retail Joint Venture include day-to-day business operations, property management services and a role in the leasing decisions of the retail space. The Company assessed its ownership in the Retail Joint Venture based on consolidation accounting guidance with an evaluation being performed to determine if the Retail Joint Venture is a VIE, if the Company has a variable interest in the Retail Joint Venture and if the Company is the primary beneficiary of the Retail Joint Venture. The primary beneficiary is the party who has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. The Company concluded that the Retail Joint Venture is a VIE and the Company is the primary beneficiary based on its involvement in the leasing activities of the Retail Joint Venture. As a result, the Company consolidates all of the Retail Joint Venture's assets, liabilities and results of operations. The Company will evaluate its primary beneficiary designation on an ongoing basis and will assess the appropriateness of the Retail Joint Venture's VIE status when changes occur. As of December 31, 2017 and 2016, the Retail Joint Venture had total assets of $59.7 million and $33.6 million, respectively, and total liabilities of $0.9 million and $2.1 million, respectively.

Investment Securities

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Investment securities, available-for-sale consisted of the following (in thousands):



	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
As of December 31, 2017
Domestic and foreign corporate bonds	$	328,747	$	6	$	(1,298	)	$	327,455

As of December 31, 2016
Domestic and foreign corporate bonds	$	245,425	$	19	$	(720	)	$	244,724
Commercial paper	56,764		5		(33		)	56,736
Total	$	302,189	$	24	$	(753	)	$	301,460

For investments with unrealized losses as of December 31, 2017, 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 is 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 fair value of these investment securities as of December 31, 2017, by contractual maturity, are as follows (in thousands):



	Fair value
Available-for-sale securities
Due in one year or less	$	166,773
Due after one year through two years	118,280
Due after two years through three years	42,402
	$	327,455

Investment Securities

Investment securities, available-for-sale consisted of the following (in thousands):



	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
As of December 31, 2017
Domestic and foreign corporate bonds	$	328,747	$	6	$	(1,298	)	$	327,455

As of December 31, 2016
Domestic and foreign corporate bonds	$	245,425	$	19	$	(720	)	$	244,724
Commercial paper	56,764		5		(33		)	56,736
Total	$	302,189	$	24	$	(753	)	$	301,460

The fair value of these investment securities as of December 31, 2017, by contractual maturity, are as follows (in thousands):



	Fair value
Available-for-sale securities
Due in one year or less	$	166,773
Due after one year through two years	118,280
Due after two years through three years	42,402
	$	327,455

- Definition

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

+ References + Details

Property and Equipment, net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment, net

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



	December 31,
	2017			2016
Buildings and improvements	$	7,582,611		$	7,623,069
Land and improvements	853,738			834,420
Furniture, fixtures and equipment	2,211,974			2,181,515
Leasehold interest in land	314,068			316,516
Airplanes	158,840			179,730
Construction in progress	1,016,207			299,686
	12,137,438			11,434,936
Less: accumulated depreciation	(3,638,682		)	(3,175,305		)
	$	8,498,756		$	8,259,631

Depreciation expense for the years ended December 31, 2017, 2016, and 2015 was $547.9 million, $398.2 million, and $317.8 million, respectively.

As of December 31, 2017 and 2016, construction in progress consisted primarily of costs capitalized, including interest, for the construction of Wynn Boston Harbor.

Subsequent to December 31, 2017, the Company acquired approximately 38 acres of land on the Las Vegas Strip directly across from Wynn Las Vegas for $336.2 million, approximately 16 acres of which are subject to a ground lease that expires in 2097. The ground lease payments are $3.8 million per year until 2023 and then increase periodically during the term of the lease up to $5.5 million per year from 2068 through 2097. The Company expects to use this land for future development.

Intangible Assets, net

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

Intangible assets, net consisted of the following (in thousands):



	December 31,
	2017			2016
Indefinite-lived intangible assets:
Water rights	$	6,400		$	6,400
Trademarks	1,387			1,387
Total indefinite-lived intangible assets	7,787			7,787

Finite-lived intangible assets:
Macau gaming concession	42,300			42,300
Less: accumulated amortization	(31,582		)	(29,199		)
	10,718			13,101

Massachusetts gaming license	105,200			92,700
Less: accumulated amortization	—			—
	105,200			92,700

Total finite-lived intangible assets	115,918			105,801
Total intangible assets, net	$	123,705		$	113,588

Water rights and trademarks are indefinite-lived assets and, accordingly, are not amortized. 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 Macau gaming concession is a finite-lived intangible asset that 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 2018 through 2021, and $1.2 million in 2022.

The Massachusetts gaming license cost reflects consideration paid to the State of Massachusetts for the license fee and certain costs incurred in connection with and contractually related to obtaining the license. The Company identifies the license as a finite-lived intangible asset and will amortize it over a period of 15 years beginning upon the opening of the resort.

Long-Term Debt

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Long-Term Debt

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



	December 31,
	2017			2016
Macau Related:
Wynn Macau Credit Facilities:
Senior Term Loan Facility	$	2,298,798		$	2,306,773
Senior Revolving Credit Facility	—			340,846
WML Finance Credit Facility	—			189,651
4 7/8% Senior Notes, due 2024	600,000			—
5 1/2% Senior Notes, due 2027	750,000			—
5 1/4% Senior Notes, due 2021	—			1,350,000

U.S. and Corporate Related:
Wynn America Credit Facilities:
Senior Term Loan Facility	1,000,000			1,000,000
4 1/4% Senior Notes, due 2023	500,000			500,000
5 1/2% Senior Notes, due 2025	1,800,000			1,800,000
5 1/4% Senior Notes, due 2027	900,000			—
5 3/8% First Mortgage Notes, due 2022	—			900,000
Redemption Price Promissory Note, due 2022	1,936,443			1,936,443
	9,785,241			10,323,713
Less: Unamortized debt issuance costs and original issue discounts and premium, net	(99,231		)	(81,277		)
Less: Redemption Note fair value adjustment	(57,384		)	(117,084		)
	9,628,626			10,125,352
Less: Current portion of long-term debt	(62,690		)	—
Total long-term debt, net of current portion	$	9,565,936		$	10,125,352

Macau Related Debt

Wynn Macau Credit Facilities

The Company's credit facilities include a $2.30 billion equivalent fully funded senior secured term loan facility (the "Wynn Macau Senior Term Loan Facility") and a $750 million equivalent senior secured revolving credit facility (the "Wynn Macau Senior Revolving Credit Facility" and together with the Wynn Macau Senior Term Loan Facility, the "Wynn Macau Credit Facilities"). The borrower is Wynn Resorts (Macau) S.A. ("Wynn Macau SA"), an indirect subsidiary of WML. Wynn Macau SA has the ability to upsize the Wynn Macau Credit Facilities by an additional $1 billion in equivalent senior secured loans upon satisfaction of various conditions. In September 2015, the Wynn Macau Credit Facilities were amended, to, among other things increase the borrowing capacity and extend maturity dates. In connection with the amendment, the Company recorded a loss on extinguishment of debt of $2.1 million.

As of December 31, 2017, the Company had no borrowings under the Wynn Macau Senior Revolving Credit Facility.

Borrowings under the Wynn Macau Credit Facilities consist of both United States dollar and Hong Kong dollar tranches and were used to refinance Wynn Macau SA's existing indebtedness and fund the construction and development of Wynn Palace and will be used for general corporate purposes.

The Wynn Macau Senior Term Loan Facility is repayable in graduating installments of between 2.50% to 7.33% of the principal amount on a quarterly basis commencing in December 2018, with a final installment of 50% of the principal amount repayable in September 2021. The Wynn Macau Senior Revolving Credit Facility will mature in September 2020, at which time any outstanding borrowings must be repaid. The Wynn Macau Credit Facilities bear interest at LIBOR or HIBOR plus a margin of 1.50% to 2.25% per annum based on Wynn Macau SA's Leverage Ratio (as defined in the Wynn Macau Credit Facilities). As of December 31, 2017 and 2016, the interest rate was 3.16% and 2.76%, respectively. The commitment fee required to be paid for unborrowed amounts under the Wynn Macau Senior Revolving Credit Facility, if any, is between 0.52% and 0.79%, per annum, based on Wynn Macau SA's Leverage Ratio. The annual commitment fee is payable quarterly in arrears and is calculated based on the daily average of the unborrowed amounts.

The Wynn Macau Credit Facilities contain a requirement that Wynn Macau SA must make mandatory repayments of indebtedness from specified percentages of excess cash flow. If Wynn Macau SA's Leverage Ratio is greater than 4.5 to 1, then 25% of Excess Cash Flow (as defined in the Wynn Macau Credit Facilities) must be used for prepayment of indebtedness and cancellation of available borrowings under the Wynn Macau Credit Facilities. There is no mandatory prepayment in respect of Excess Cash Flow if Wynn Macau SA's Leverage Ratio is equal to or less than 4.5 to 1. The 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 SA is required by the financial covenants to maintain a Leverage Ratio of not greater than 5.25 to 1 for the fiscal year ending December 31, 2017, and an Interest Coverage Ratio (as defined in the Wynn Macau Credit Facilities) of not less than 2.00 to 1 at any time.

Borrowings under the Wynn Macau Credit Facilities are guaranteed by Palo Real Estate Company Limited ("Palo"), a subsidiary of Wynn Macau SA, and by certain subsidiaries of the Company that own equity interests in Wynn Macau SA, and are secured by substantially all of the assets of Wynn Macau SA and Palo, and the equity interests in Wynn Macau SA. Borrowings under the Wynn Macau Credit Facilities are not guaranteed by the Company or WML.

In connection with the gaming concession contract of Wynn Macau SA, Wynn Macau SA 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 SA'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 and the payment of any gaming taxes. As of December 31, 2017, the guarantee was in the amount of 300 million Macau patacas ("MOP") (approximately $37.3 million) and will remain at such amount until 180 days after the end of the term of the concession agreement in 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 Wynn Macau Credit Facilities, Wynn Macau SA 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 MOP 2.3 million (approximately $0.3 million).

WML Finance Revolving Credit Facility

The Company's credit facilities include a HK$3.87 billion (approximately $495.2 million) cash-collateralized revolving credit facility ("WML Finance Credit Facility") under which WML Finance I, Limited, an indirect wholly owned subsidiary of WML, is the borrower. The WML Finance Credit Facility bears interest initially at 1.50% per annum, such rate calculated as the interest rate paid by the lender as the deposit bank for the cash collateral deposited and pledged with the lender plus a margin of 0.40%.

As of December 31, 2017, the Company had no borrowings under the WML Finance Credit Facility.

The WML Finance Credit Facility matures in July 2018, at which time any outstanding borrowings must be repaid. Under terms of the agreement, mandatory repayment is required upon a Change in Control or Material Adverse Effect, as defined in the agreement.

4 7/8% Senior Notes due 2024 and 5 1/2% Senior Notes due 2027

On September 20, 2017, WML issued the $600 million 4 7/8% Senior Notes due 2024 (the "2024 WML Notes") and the $750 million of 5 1/2% Senior Notes due 2027 (the "2027 WML Notes" and together with the 2024 WML Notes, the "WML Notes"). WML used the net proceeds from the WML Notes and cash on hand to fund the cost of extinguishing the 5 1/4% Senior Notes due 2021 (the "2021 Notes").

The 2024 WML Notes bear interest at the rate of 4 7/8% per annum and mature on October 1, 2024. The 2027 WML Notes bear interest at the rate of 5 1/2% per annum and mature on October 1, 2027. Interest on the WML Notes is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2018.

At any time prior to October 1, 2020 and October 1, 2022, WML may redeem the 2024 WML Notes and 2027 WML Notes, respectively, in whole or in part, at a redemption price equal to the greater of (a) 100% of the principal amount of the WML Notes or (b) a "make-whole" amount as determined by an independent investment banker in accordance with the terms of the indentures for the WML Notes, dated as of September 20, 2017 (the "WML Indentures"). In either case, the redemption price would include accrued and unpaid interest. In addition, at any time prior to October 1, 2020, WML may use the net cash proceeds from certain equity offerings to redeem up to 35% of the aggregate principal amount of the 2024 WML Notes and the 2027 WML Notes, at a redemption price equal to 104.875% of the aggregate principal amount of the 2024 WML Notes and 105.5% of the aggregate principal amount of the 2027 WML Notes, as applicable.

On or after October 1, 2020 and October 1, 2022, WML may redeem the 2024 WML Notes and 2027 WML Notes, respectively, in whole or in part, at a premium decreasing annually from 102.438% and 102.75%, respectively, of the applicable principal amount to 100% of the applicable principal amount, plus accrued and unpaid interest. If WML undergoes a change of control (as defined in the WML Indentures), it must offer to repurchase the WML Notes at a price equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest. In addition, WML may redeem the WML Notes, in whole but not in part, at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest, in response to any change in or amendment to certain tax laws or tax positions. Further, if a holder or beneficial owner of the WML Notes fails to meet certain requirements imposed by any Gaming Authority (as defined in the WML Indentures), WML may require the holder or beneficial owner to dispose of or redeem its WML Notes.

Upon the occurrence of (1) any event after which none of WML or any of its subsidiaries have such licenses, concessions, subconcessions or other permits or authorizations as necessary to conduct gaming activities in substantially the same scope as it does on the date of the WML Notes issuance, for a period of ten consecutive days or more, and such event has a material adverse effect on the financial condition, business, properties, or results of operations of WML and its subsidiaries, taken as a whole, or (2) the termination, rescission, revocation or modification of any such licenses, concessions, subconcessions or other permits or authorizations which has had a material adverse effect on the financial condition, business, properties, or results of operations of WML and its subsidiaries, taken as a whole, each holder of the WML Notes will have the right to require WML to repurchase all or any part of such holders' WML Notes at a purchase price in cash equal to 100% of the principal amount thereof, plus accrued and unpaid interest.

The WML Notes are WML's general unsecured obligations and rank pari passu in right of payment with all of WML's existing and future senior unsecured indebtedness, will rank senior to all of WML's future subordinated indebtedness, if any; will be effectively subordinated to all of WML's future secured indebtedness to the extent of the value of the assets securing such debt; and will be structurally subordinated to all existing and future obligations of WML's subsidiaries, including the Wynn Macau Credit Facilities and the WML Finance Credit Facility. The WML Notes are not registered under the Securities Act of 1933, as amended (the "Securities Act") and the WML Notes are subject to restrictions on transferability and resale.

5 1/4% Senior Notes due 2021

On September 11, 2017, WML commenced a cash offer for any and all of the outstanding aggregate principal amount of the 2021 Notes. The Company accepted for purchase valid tenders with respect to $946.4 million and paid a tender premium of $27.2 million.

On October 20, 2017, WML redeemed the remaining $403.6 million principal amount of the untendered 2021 Notes and discharged the indenture under which the 2021 Notes were issued. The Company paid a premium of $10.6 million related to this redemption.

In connection with the WML Notes issuance and the 2021 Notes cash tender offer and subsequent redemption, the Company recorded a loss on extinguishment of debt of $33.1 million.

U.S. and Corporate Related Debt

Wynn America Credit Facilities

The Company's credit facilities include an $875 million fully funded senior secured term loan facility (the "WA Senior Term Loan Facility I"), a $125 million fully funded senior term loan facility (the "WA Senior Term Loan Facility II") and a $375 million senior secured revolving credit facility (the "WA Senior Revolving Credit Facility," and collectively, the "Wynn America Credit Facilities"). The borrower is Wynn America, LLC ("Wynn America"), an indirect wholly owned subsidiary of Wynn Resorts, Limited.

On April 24, 2017, the Company amended the Wynn America Credit Facilities to, among other things, extend the maturity of portions of the credit facilities. Of the $875 million WA Senior Term Loan Facility I, $69.6 million matures in November 2020 with repayments in quarterly installments of $1.7 million commencing in June 2018 and a final installment of $52.2 million in November 2020, and $805.4 million matures in December 2021 with repayments in quarterly installments of $20.1 million commencing in March 2020 and a final installment of $664.5 million in December 2021. The WA Senior Term Loan Facility II matures in December 2021 with no required repayments until maturity in December 2021. Of the $375 million WA Senior Revolving Credit Facility, $42 million matures in November 2019 and $333 million matures in December 2021. In connection with the amendment, the Company recorded a loss on extinguishment of debt of $1.5 million.

As of December 31, 2017, the Company had available borrowing capacity of $357.3 million, net of $17.7 million in outstanding letters of credit, under the WA Senior Revolving Credit Facility.

Subject to certain exceptions, the Wynn America Credit Facilities bear interest at either base rate plus 0.75% per annum or LIBOR plus 1.75% per annum. As of December 31, 2017 and 2016, the interest rate was 3.32% and 2.52%, respectively. The annual fee required to pay for unborrowed amounts, if any, is 0.30% per annum, payable quarterly in arrears, calculated based on the daily average of the unborrowed amounts under such credit facilities.

The Wynn America Credit Facilities contain customary representations and warranties, events of default and negative and affirmative covenants, including, among other things, limitations on: indebtedness; investments; restricted payments; mergers and acquisitions; payment of indebtedness; negative pledges; liens; transactions with affiliates and sales of assets. In addition, Wynn America is subject to financial covenants, including maintaining a Maximum Consolidated Senior Secured Net Leverage Ratio and a Minimum Consolidated EBITDA, each as defined in the Wynn America Credit Facilities. Commencing with the second full fiscal quarter ending after the fiscal quarter in which Wynn Boston Harbor opens, the Maximum Consolidated Senior Secured Net Leverage Ratio is not to exceed 2.75 to 1. Commencing with the fiscal quarter ending December 31, 2015, the Minimum Consolidated EBITDA is not to be less than $200.0 million.

The Company has provided a completion guaranty in favor of the lenders under the Wynn America Credit Facilities to support the development of Wynn Boston Harbor.

Wynn America and the guarantors have entered into a security agreement (as amended from time to time) in favor of the lenders under the Wynn America Credit Facilities pursuant to which, subject to certain exceptions, Wynn America and the guarantors have pledged all equity interests in the guarantors to the extent permitted by applicable law and granted a first priority security interest in substantially all of the other existing and future assets of the guarantors.

4 1/4% Senior Notes due 2023

In May 2013, Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. ("Capital Corp." and together with Wynn Las Vegas, LLC, the "Issuers") issued the $500 million 4 1/4% Senior Notes due 2023 (the "2023 Notes") pursuant to an indenture, dated as of May 22, 2013 (the "2023 Indenture"), among the Issuers, the Guarantors (as defined below) and U.S. Bank National Association, as trustee (the "Trustee"). The 2023 Notes were issued at par. The Issuers used the net proceeds from the 2023 Notes to cover the cost of extinguishing the 7 7/8% First Mortgage Notes due November 2017.

The 2023 Notes will mature on May 30, 2023 and bear interest at the rate of 4 1/4% per annum. The Issuers may, at their option, redeem the 2023 Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for the 2023 Notes that are redeemed before February 28, 2023 will be equal to the greater of (a) 100% of the principal amount of the 2023 Notes to be redeemed or (b) a "make-whole" amount described in the 2023 Indenture, plus in either case accrued and unpaid interest to, but not including, the redemption date. The redemption price for the 2023 Notes that are redeemed on or after February 28, 2023 will be equal to 100% of the principal amount of the 2023 Notes to be redeemed, plus accrued and unpaid interest to, but not including, the redemption date. In the event of a change of control triggering event, the Issuers will be required to offer to repurchase the 2023 Notes at 101% of the principal amount, plus accrued and unpaid interest to but not including the repurchase date. The 2023 Notes are also subject to mandatory redemption requirements imposed by gaming laws and regulations of gaming authorities in Nevada.

The 2023 Notes are the Issuers' senior unsecured obligations and rank pari passu in right of payment with the Issuers' 2025 Notes and 2027 WLV Notes (both defined below). The 2023 Notes are unsecured, except by the first priority pledge by Wynn Las Vegas Holdings, LLC ("WLVH"), a direct wholly owned subsidiary of Wynn America, of its equity interests in Wynn Las Vegas, LLC. Such equity interests in Wynn Las Vegas, LLC also secure the Issuers' 2025 Notes and 2027 WLV Notes. If Wynn Resorts receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2023 Notes will be released.

The 2023 Notes are jointly and severally guaranteed by all of the Issuers' subsidiaries, other than Capital Corp., which was a co-issuer (the "Guarantors"). The guarantees are senior unsecured obligations of the Guarantors and rank senior in right of payment to all of their existing and future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the Guarantors that are not so subordinated and will be effectively subordinated in right of payment to all of such Guarantors' existing and future secured debt (to the extent of the collateral securing such debt).

The 2023 Indenture contains covenants limiting the Issuers' and the Guarantors' ability to create liens on assets to secure debt; enter into sale-leaseback transactions; and merge or consolidate with another company. These covenants are subject to a number of important and significant limitations, qualifications and exceptions.

Events of default under the 2023 Indenture include, among others, the following: default for 30 days in the payment of interest when due on the 2023 Notes; default in payment of the principal, or premium, if any, when due on the 2023 Notes; failure to comply with certain covenants in the 2023 Indenture; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Issuers or any Guarantor, all 2023 Notes then outstanding will become due and payable immediately without further action or notice.

5 1/2% Senior Notes due 2025

In February 2015, the Issuers issued the $1.8 billion 5 1/2% Senior Notes due 2025 (the "2025 Notes") pursuant to an indenture, dated as of February 18, 2015 (the "2025 Indenture"), among the Issuers, the Guarantors and the Trustee. The 2025 Notes were issued at par. The Company used the net proceeds from the 2025 Notes to cover the cost of extinguishing the 7 7/8% First Mortgage Notes due May 1, 2020 (the "7 7/8% 2020 Notes") and the 7 3/4% First Mortgage Notes due August 15, 2020 (the "7 3/4% 2020 Notes" and together with the 7 7/8% 2020 Notes, the "2020 Notes") and for general corporate purposes.

The 2025 Notes will mature on March 1, 2025 and bear interest at the rate of 5 1/2% per annum. The Issuers may, at their option, redeem the 2025 Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for the 2025 Notes that are redeemed before December 1, 2024 will be equal to the greater of (a) 100% of the principal amount of the 2025 Notes to be redeemed and (b) a "make-whole" amount described in the 2025 Indenture, plus in either case accrued and unpaid interest, if any, to, but not including, the redemption date. The redemption price for the 2025 Notes that are redeemed on or after December 1, 2024 will be equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date. In the event of a change of control triggering event, the Issuers will be required to offer to repurchase the 2025 Notes at 101% of the principal amount, plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The 2025 Notes also are subject to mandatory redemption requirements imposed by gaming laws and regulations of gaming authorities in Nevada.

The 2025 Notes are the Issuers' senior unsecured obligations and rank pari passu in right of payment with the Issuers' 2023 Notes and 2027 WLV Notes. The 2025 Notes are unsecured, except by the first priority pledge by WLVH of its equity interests in Wynn Las Vegas, LLC. Such equity interests in Wynn Las Vegas, LLC also secure the 2023 Notes and 2027 WLV Notes. If Wynn Resorts receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2025 Notes will be released.

The 2025 Notes are jointly and severally guaranteed by all of the Guarantors. The guarantees are senior unsecured obligations and rank senior in right of payment to all of their existing and future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the Issuers' subsidiaries that are not so subordinated and will be effectively subordinated in right of payment to all of such existing and future secured debt (to the extent of the collateral securing such debt).

The 2025 Indenture contains covenants limiting the Issuers' and the Guarantors' ability to create liens on assets to secure debt, enter into sale-leaseback transactions and merge or consolidate with another company. These covenants are subject to a number of important and significant limitations, qualifications and exceptions.

Events of default under the 2025 Indenture include, among others, the following: default for 30 days in the payment of interest when due on the 2025 Notes; default in payment of the principal, or premium, if any, when due on the 2025 Notes; failure to comply with certain covenants in the 2025 Indenture; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Issuers or any Guarantor, all 2025 Notes then outstanding will become due and payable immediately without further action or notice.

5 1/4% Senior Notes due 2027

On May 11, 2017, the Issuers issued the $900 million 5 1/4% Senior Notes due 2027 (the "2027 WLV Notes") pursuant to an indenture, dated as of May 11, 2017 (the "2027 Indenture"), among the Issuers, the Guarantors and the Trustee. The 2027 WLV Notes were issued at par. The Issuers used the net proceeds from the 2027 WLV Notes and cash on hand to fund the cost of extinguishing the 5 3/8% First Mortgage Notes due 2022 (the "2022 Notes").

The 2027 WLV Notes will mature on May 15, 2027 and bear interest at the rate of 5 1/4% per annum. The Issuers may, at their option, redeem the 2027 WLV Notes, in whole or in part, at any time or from time to time prior to their stated maturity. The redemption price for 2027 WLV Notes that are redeemed before February 15, 2027 will be equal to the greater of (a) 100% of the principal amount of the 2027 WLV Notes to be redeemed and (b) a "make-whole" amount described in the 2027 Indenture, plus in either case accrued and unpaid interest, if any, to, but not including, the redemption date. The redemption price for the 2027 WLV Notes that are redeemed on or after February 15, 2027 will be equal to 100% of the principal amount of the 2027 WLV Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date. In the event of a change of control triggering event, the Issuers will be required to offer to repurchase the 2027 WLV Notes at 101% of the principal amount, plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The 2027 WLV Notes are also subject to mandatory redemption requirements imposed by gaming laws and regulations of gaming authorities in Nevada.

The 2027 WLV Notes are the Issuers' senior unsecured obligations and rank pari passu in right of payment with the Issuers' 2023 Notes and 2025 Notes and rank equally in right of payment with the Issuers' guarantee of the Wynn America Credit Facilities, and rank senior in right of payment to all of the Issuers' existing and future subordinated debt. The 2027 WLV Notes are effectively subordinated in right of payment to all of the Issuers' existing and future secured debt (to the extent of the value of the collateral securing such debt), and structurally subordinated to all of the liabilities of any of the Issuers' subsidiaries that do not guarantee the 2027 WLV Notes.

The 2027 WLV Notes are unsecured, except for the first priority pledge by WLVH of its equity interests in Wynn Las Vegas, LLC. Such equity interests in Wynn Las Vegas, LLC also secure the 2023 Notes and 2025 Notes. If Wynn Resorts, Limited receives an investment grade rating from one or more ratings agencies, the first priority pledge securing the 2027 WLV Notes will be released.

The 2027 WLV Notes are jointly and severally guaranteed by all of the Guarantors. The guarantees are senior unsecured obligations of the Guarantors and rank senior in right of payment to all of their existing and future subordinated debt. The guarantees rank equally in right of payment with all existing and future liabilities of the Guarantors that are not so subordinated and will be effectively subordinated in right of payment to all of such Guarantors' existing and future secured debt (to the extent of the collateral securing such debt).

The 2027 Indenture contains covenants limiting the Issuers' and the Guarantors' ability to: create liens on assets to secure debt; enter into sale-leaseback transactions; and merge or consolidate with another company. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. The 2027 Indenture also provides that Wynn America may assume all of Wynn Las Vegas, LLC's obligations under the 2027 Indenture and the 2027 WLV Notes if certain conditions set forth in the 2027 Indenture are met.

Events of default under the 2027 Indenture include, among others, the following: default for 30 days in the payment of interest when due on the 2027 WLV Notes; default in payment of the principal, or premium, if any, when due on the 2027 WLV Notes; failure to comply with certain covenants in the 2027 Indenture; and certain events of bankruptcy or insolvency. In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Issuers or any Guarantor, all 2027 WLV Notes then outstanding will become due and payable immediately without further action or notice.

The Issuers and certain of their subsidiaries will guarantee and secure their obligations under the Wynn America Credit Facilities with liens on substantially all of their assets, with such liens limiting the amount of such obligations secured to 15% of their Total Assets (as defined in the indenture for the 2025 Notes).

The 2023 Notes, 2025 Notes and 2027 WLV Notes were offered pursuant to an exemption under the Securities Act. The 2023 Notes, 2025 Notes and 2027 WLV Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to certain persons in reliance on Regulation S under the Securities Act. The 2023 Notes, 2025 Notes and 2027 WLV Notes have not been and will not be registered under the Securities Act or under any state securities laws. Therefore, the 2023 Notes, 2025 Notes and 2027 WLV Notes may not be offered or sold within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws.

5 3/8% First Mortgage Notes due 2022

On May 4, 2017, the Issuers commenced a cash tender offer for any and all of the outstanding 2022 Notes. The Company accepted for purchase valid tenders with respect to $498.0 million and paid a tender premium of $14.6 million.

On June 12, 2017, the Issuers redeemed the remaining $402.0 million of the untendered 2022 Notes and discharged the indenture under which the 2022 Notes were issued. The Company paid a premium of $10.8 million related to this redemption.

In connection with the 2027 WLV Notes issuance and the 2022 Notes cash tender offer and subsequent redemption, the Company recorded a loss on extinguishment of debt of $20.8 million.

First Mortgage Notes due 2020

In February 2015, the Issuers commenced a cash tender offer for any and all of the outstanding 2020 Notes. The Company paid a tender premium of $98.9 million for all valid tenders. In May 2015 and August 2015, the Company redeemed the remaining untendered 2020 Notes and paid a premium of $5.9 million. In connection with the 2025 Notes issuance and the 2020 cash tender offer and subsequent redemptions, the Company recorded a loss on extinguishment of debt of $123.9 million.

Redemption Price Promissory Note

Based on the Board of Directors' finding of "unsuitability," on February 18, 2012, the Company redeemed and canceled Aruze'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 held by Aruze under the terms of the Stockholders Agreement (as defined below). Pursuant to its articles of incorporation, the Company issued the Redemption Note to Aruze, 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 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 recorded the Redemption Note at fair value in accordance with applicable accounting guidance. As of December 31, 2017 and 2016, the fair value of the Redemption Note was $1.88 billion and $1.82 billion, respectively.

The Okada Parties have challenged the redemption of Aruze's shares and the Company is currently involved in litigation with those parties as well as related litigation. See further discussion in Note 14, "Commitments and Contingencies."

Pursuant to a stipulation between the parties, interest payments due on the Redemption Note are payable to the clerk of the court for deposit into the clerks trust account.

Cross Claim

As further discussed in Note 14, "Commitments and Contingencies," there is a pending cross claim asserted by Elaine P. Wynn against Stephen A. Wynn, former Chairman of the Board and Chief Executive Officer ("Mr. Wynn"), Aruze, Wynn Resorts and Wynn Resorts' General Counsel (the "Wynn Cross Defendants").

The 2023 Indenture provides that if Mr. Wynn, together with certain related parties, in the aggregate beneficially owns a lesser percentage of the voting power of the outstanding common stock of the Company than is beneficially owned by any other person, a change of control will have occurred. The 2025 Indenture and the 2027 Indenture each provides that if any event constitutes a "change of control" under the 2023 Indenture, it will constitute a change of control under the 2025 Indenture and the 2027 Indenture, respectively. If the Stockholders Agreement is determined not to be enforceable pursuant to Elaine P. Wynn's cross claim, Mr. Wynn would not beneficially own or control Elaine P. Wynn's shares, which could increase the likelihood that a change in control may occur under the Wynn Las Vegas, LLC debt documents. Under the 2023 Indenture, the 2025 Indenture and the 2027 Indenture, if (1) a change of control occurs and (2) at any time within 60 days after that occurrence, the 2023 Notes or the 2025 Notes, as applicable, are rated below investment grade by both rating agencies that rate such notes and, in the case of the 2027 Indenture, the ratings of the 2027 WLV Notes have decreased below the ratings assigned to the 2027 WLV Notes on the date they were issued, as described in the 2027 Indenture, the Company is required to make an offer to each applicable 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 (unless the notes have been previously called for redemption). The Wynn Cross Defendants will vigorously defend against the claims asserted against them.

On February 12, 2018, counsel for Mr. Wynn advised the court hearing this matter that Mr. Wynn now agrees that the Stockholders Agreement no longer binds either Mr. Wynn or Elaine P. Wynn. There can be no assurance that the court will concur with the position now taken by Mr. Wynn, or that the Stockholders Agreement will in fact be deemed to no longer bind the parties thereto.

On February 16, 2018, the Issuers commenced a solicitation of consents (the "Consent Solicitation") for a proposed amendment (the "Proposed Amendment") to the 2023 Indenture. The Proposed Amendment would conform the definition of change of control relating to ownership of equity interests in the Company to the terms of the 2025 Indenture and 2027 Indenture. Adoption of the Proposed Amendment requires the consent of holders of a majority in aggregate principal amount of the 2023 Notes. The Consent Solicitation will expire on March 6, 2018.

Debt Covenant Compliance

As of December 31, 2017, management believes the Company was in compliance with all debt covenants.

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt as of December 31, 2017 were as follows (in thousands):



Years Ending December 31,
2018	$	62,690
2019	282,816
2020	616,879
2021	2,336,413
2022	1,936,443
Thereafter	4,550,000
	9,785,241
Unamortized debt issuance costs and original issue discounts and premium, net	(99,231		)
Redemption Note fair value adjustment	(57,384		)
	$	9,628,626

Fair Value of Long-Term Debt

The estimated fair value of the Company's long-term debt, excluding the Redemption Note, as of December 31, 2017 and 2016, was approximately $7.95 billion and $8.33 billion, respectively, compared to its carrying value, excluding debt issuance costs and original issue discount and premium, of $7.85 billion and $8.39 billion, respectively. The estimated fair value of the Company's long-term debt, excluding the Redemption Note, is based on recent trades, if available, and indicative pricing from market information (Level 2 inputs). See Note 2, "Summary of Significant Accounting Policies" for discussion on the estimated fair value of the Redemption Note.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Related Party Share Redemption Based on the Board of Directors' finding of "unsuitability," on February 18, 2012, the Company redeemed and canceled Aruze'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 were subject to the terms of an existing stockholder agreement. Pursuant to its articles of incorporation, the Company issued the Redemption Note to Aruze, a former stockholder and related party, in redemption of the shares. The Okada Parties have challenged the redemption of Aruze's shares and the Company is currently involved in litigation with those parties as well as related stockholder derivative litigation. The outcome of these various proceedings cannot be predicted. 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. An adverse judgment or settlement involving payment of a material amount could cause a material adverse effect on our financial condition. Amounts Due to Officers The Company periodically provides services to Mr. Wynn and certain executive officers and directors of the Company, including the personal use of employees, construction work and other personal services, for which Mr. Wynn, the officers and directors reimburse the Company. Mr. Wynn also reimburses the Company for personal usage of aircraft (subject to a $250,000 credit per calendar year) pursuant to a time-sharing agreement. Mr. Wynn and 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, 2017 and 2016, Mr. Wynn and the officers and directors had a net deposit balance with the Company of $0.4 million and $0.3 million, respectively. Villa Lease Mr. Wynn currently leases property at Wynn Las Vegas for use as his personal residence and pays Wynn Las Vegas, LLC annual rent at its fair market value of the accommodations based on independent third-party expert opinions of value. Pursuant to the 2013 Second Amended and Restated Agreement of Lease, as amended (the "Second A&R Lease"), Mr. Wynn leased three fairway villas as his personal residence and paid $525,000 per year from November 5, 2013 through February 28, 2015, and $559,295 per year from March 1, 2015 through November 3, 2016. In December 2016, Mr. Wynn and Wynn Las Vegas, LLC replaced the Second A&R Lease with a Third Amended and Restated Agreement of Lease, which was effective November 3, 2016 (the "Third A&R Lease"), to reduce the space leased to Mr. Wynn as his personal residence and to adjust the annual rent paid to $305,680 per year. The lease, including each amendment and restatement, have been approved by the Audit Committee of the Board of Directors of Wynn Resorts and provides that Wynn Las Vegas, LLC pays for all capital improvements to the villas; certain services for, and maintenance of, the villas are included in the annual rent. The Third A&R Lease will terminate no later than June 1, 2018, pursuant to the separation agreement described below. Home Purchase In May 2010, the Company entered into an employment agreement with Linda Chen, who is the Chief Operating Officer of Wynn Macau SA. 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 $10.0 million through December 31, 2017. 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" or (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 her 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 terminate a previously granted option to purchase an approximately two acre tract of land located on the Wynn Las Vegas golf course and, in return, 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 was exercisable upon 30 days written notice and at a price equal to the book value of such aircraft, and terminated on February 6, 2018. 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" surname 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" surname for casino resorts and related businesses, together with the right to sublicense the name and marks to its affiliates. Pursuant to the separation agreement described below, if the Company ceases to use the "Wynn" surname and trademark, the Company will assign all of its right, title, and interest in the "Wynn" trademark to Mr. Wynn and terminate the Surname Rights Agreement. 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. Consulting Agreement From March 1, 2015 to September 30, 2015, Wynn Resorts Development, LLC, a direct subsidiary of the Company ("WRD"), was party to a consulting agreement with a consulting firm of which Clark T. Randt, Jr., current member of the Company's Board of Directors, is the president and sole owner, pursuant to which Ambassador Randt provided advice to WRD. The consulting agreement was terminated in connection with Ambassador Randt joining the Company's Board of Directors. WRD paid the consulting firm $0.6 million in fees and reimbursed expenses under the consulting agreement. Separation Agreement On February 6, 2018, Mr. Wynn resigned as Chairman of the Board of Directors and Chief Executive Officer of the Company and on February 15, 2018, Mr. Wynn entered into a separation agreement with the Company specifying the terms of his termination of service with the Company (the "Separation Agreement"). The Separation Agreement terminates Mr. Wynn's employment agreement with the Company and confirms that Mr. Wynn is not entitled to any severance payment or other compensation from the Company under his employment agreement. Under the Separation Agreement, Mr. Wynn agrees not to compete against the Company for a period of two years and to provide reasonable cooperation and assistance to the Company in connection with any private litigation or arbitration and to the Board of Directors of the Company or any committee of the Board of Directors in connection with any investigation by the Company related to his service with the Company. The Separation Agreement provides that (i) Mr. Wynn's lease of his personal residence at Wynn Las Vegas will terminate not later than June 1, 2018 and until such date Mr. Wynn shall continue to pay rent at its fair market value as described above, unless Mr. Wynn elects to terminate the lease before such date, (ii) Mr. Wynn's current healthcare coverage will terminate on December 31, 2018, and (iii) administrative support for Mr. Wynn will terminate on May 31, 2018. Additionally, in order to conduct any sales of Company shares in an orderly fashion in the event that Mr. Wynn is permitted to and elects to sell any shares that he owns, the Company has agreed to enter into a registration rights agreement with Mr. Wynn, with Mr. Wynn to reimburse the Company for its reasonable expenses. Pursuant to such registration rights agreement, Mr. Wynn may not sell during any quarter after the date of such agreement more than one-third of the Company shares he holds as of the date of such agreement.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2017
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock The Company's Board of Directors has authorized an equity repurchase program. As of December 31, 2017, the Company had $1.0 billion in repurchase authority under the program, which may include repurchases from time to time through open market purchases or negotiated transactions, depending on market conditions. During the years ended December 31, 2017, 2016 and 2015, no repurchases were made under the equity repurchase program. During the years ended December 31, 2017, 2016 and 2015, the Company withheld a total of 148,413 shares, 198,942 shares and 50,869 shares, respectively, in satisfaction of tax withholding obligations on vested restricted stock. In each quarter of 2017 and 2016, the Company paid a cash dividend of $0.50 per share. During the years ended December 31, 2017 and 2016, the Company recorded $204.5 million and $202.2 million as a reduction of retained earnings from cash dividends declared. In the first quarter of 2015, the Company paid a cash dividend of $1.50 per share. In each of the second, third and fourth quarters of 2015, the Company paid a cash dividend of $0.50 per share. During the year ended December 31, 2015, the Company recorded $304.4 million as a reduction of retained earnings from cash dividends declared. 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. Based on the Board of Directors' finding of "unsuitability," on February 18, 2012, Wynn Resorts redeemed and canceled Aruze's 24,549,222 shares of Wynn Resorts' common stock. For more information, see Note 14, "Commitments and Contingencies."

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Noncontrolling Interests	12 Months Ended
Noncontrolling Interests	Dec. 31, 2017
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests WML In October 2009, WML, an indirect wholly owned subsidiary of the Company and the developer, owner and operator of Wynn Macau and Wynn Palace, listed its ordinary shares of common stock on The Stock Exchange of Hong Kong Limited through an initial public offering. The Company currently owns approximately 72% of this subsidiary's common stock. The shares of WML 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. On September 15, 2017, WML paid a dividend of HK$0.21 per share for a total of $139.4 million. The Company's share of this dividend was $100.6 million with a reduction of $38.8 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. On June 20, 2017, WML paid a dividend of HK$0.42 per share for a total of $279.9 million. The Company's share of this dividend was $202.0 million with a reduction of $77.9 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. On April 27, 2016, WML paid a dividend of HK$0.60 per share for a total of $401.9 million. The Company's share of this dividend was $290.1 million with a reduction of $111.8 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. On March 31, 2015, WML paid a dividend of HK$1.05 per share for a total of $702.6 million. The Company's share of this dividend was $507.1 million with a reduction of $195.5 million to noncontrolling interests in the accompanying Consolidated Balance Sheets. Retail Joint Venture In December 2016, the Company sold a 49.9% interest in the Retail Joint Venture to Crown for consideration of $292.0 million. In November 2017, the Company contributed additional retail space to the Retail Joint Venture and received cash of $180.0 million from Crown. For more information on these transactions, see Note 3, "Retail Joint Venture." In connection with these transactions, the Company recorded $15.9 million and $13.2 million of noncontrolling interests in the accompanying Consolidated Balance Sheets during the years ended December 31, 2016 and 2017, respectively. Distributions from the Retail Joint Venture to Crown during the year ended December 31, 2017 resulted in an $11.4 million decrease to noncontrolling interests in the accompanying Consolidated Balance Sheets.

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	Benefit Plans Defined contribution plans 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 matches 50% of employee contributions, up to 6% of employees' eligible compensation. For the years ended December 31, 2017 and 2016, there was no employer matching cap. For the year ended December 31, 2015, there was a one-time annual matching cap per employee of $1,200. During the years ended December 31, 2017, 2016 and 2015, the Company recorded matching contribution expenses of $6.1 million, $6.1 million and $3.2 million, 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. During the years ended December 31, 2017, 2016 and 2015, the Company recorded matching contribution expenses of $15.8 million, $12.9 million and $11.2 million, respectively. Multi-employer pension plan Wynn Las Vegas, LLC 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, which expires in July 2021. 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: 1). The Company recorded expenses of $11.5 million, $9.3 million and $9.4 million for contributions to the Plan for the years ended December 31, 2017, 2016 and 2015, respectively. For the 2016 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 2016 plan year. Risks of participating in a multi-employer plan differ 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

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Wynn Resorts, Limited

The Company's 2002 Stock Incentive Plan, as amended and restated (the "WRL 2002 Plan"), allowed it to grant stock options and nonvested shares of Wynn Resorts' common stock to eligible directors, officers, employees, and consultants of the Company. Under the WRL 2002 Plan, a maximum of 12,750,000 shares of the Company's common stock was reserved for issuance.

On May 16, 2014, the Company adopted the Wynn Resorts, Limited 2014 Omnibus Incentive Plan (the "Omnibus Plan") after approval from its stockholders. The Omnibus Plan allows for the grant of stock options, restricted stock, restricted stock units, stock appreciation rights, performance awards and other share-based awards to the same eligible participants as the WRL 2002 Plan. Under the approval of the Omnibus Plan, no new awards may be made under the WRL 2002 Plan. The outstanding awards under the WRL 2002 Plan were transferred to the Omnibus Plan and will remain pursuant to their existing terms and related award agreements. The Company reserved 4,409,390 shares of its common stock for issuance under the Omnibus Plan. These shares were transferred from the remaining available amount under the WRL 2002 Plan.

The Omnibus Plan is administered by the Compensation Committee (the "Committee") of the Wynn Resorts, Limited Board of Directors. The Committee has discretion under the Omnibus Plan regarding which type of awards to grant, the vesting and service requirements, exercise price and other conditions, in all cases subject to certain limits. For stock options, the exercise price of stock options must be at least equal to the fair market value of the stock on the date of grant and the maximum term of such an award is 10 years.

As of December 31, 2017, the Company had an aggregate of 3,179,113 shares of its common stock available for grant as share-based awards under the Omnibus Plan.

Stock Options

The summary of stock option activity under the Omnibus Plan for the year ended December 31, 2017 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	1,306,260		$	83.56
Granted	—		$	—
Exercised	(661,800	)	$	92.94
Forfeited or expired	—		$	—
Outstanding as of December 31, 2017	644,460		$	73.93	2.54	$	61,846,602
Fully vested and expected to vest as of December 31, 2017	644,460		$	73.93	2.54	$	61,846,602
Exercisable as of December 31, 2017	458,010		$	80.49	2.83	$	40,980,802

The following is provided for stock options under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	—	$	34.90	$	31.83
Intrinsic value of stock options exercised	$	29,716	$	3,657	$	1,684
Cash received from the exercise of stock options	$	61,506	$	3,487	$	3,026

As of December 31, 2017, there was $3.6 million of unamortized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 1.29 years.

Nonvested shares

The summary of nonvested share activity under the Omnibus Plan for the year ended December 31, 2017 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2017	151,756		$	112.14
Granted	706,341		109.28
Vested	(384,180	)	120.60
Forfeited	(13,333	)	197.94
Nonvested as of December 31, 2017	460,584		$	98.21

The following is provided for the share awards under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	109.28	$	63.56	$	145.92
Fair value of shares vested	$	45,801	$	39,380	$	22,877

As of December 31, 2017, there was $37.4 million of unamortized compensation expense related to nonvested shares, which is expected to be recognized over a weighted average period of 3.77 years.

Wynn Macau, Limited

The Company's majority-owned subsidiary, WML, has two stock-based compensation plans that provide awards based on shares of WML's common stock. The shares available for issuance under these plans are separate and distinct from the common stock of Wynn Resorts' share plan and are not available for issuance for any awards under the Wynn Resorts share plan.

Share Option Plan

WML adopted a stock incentive plan, effective September 16, 2009, for the grant of stock options to purchase shares of WML to eligible directors and employees of its subsidiaries (the "Share Option Plan"). The Share Option Plan is administered by WML's Board of Directors, which has the discretion on the vesting and service requirements, exercise price, performance targets to exercise if applicable and other conditions, subject to certain limits. A maximum of 518,750,000 shares have been reserved for issuance under the Share Option Plan. As of December 31, 2017, there were 511,738,000 shares available for issuance under the Share Option Plan.

The summary of stock option activity under the Share Option Plan for the year ended December 31, 2017 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	6,290,000		$	2.28
Granted	1,208,000		$	2.26
Exercised	(492,000	)	$	1.43
Outstanding as of December 31, 2017	7,006,000		$	2.32	6.9	$	6,539,606
Fully vested and expected to vest as of December 31, 2017	7,006,000		$	2.32	6.9	$	6,539,606
Exercisable as of December 31, 2017	3,074,000		$	2.66	5.3	$	1,932,866

The following is provided for stock options under the Share Option Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	0.56	$	0.31	$	0.47
Intrinsic value of stock options exercised	$	369	$	—	$	—
Cash received from the exercise of stock options	$	703	$	—	$	—

As of December 31, 2017, there was $1.4 million of unamortized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 1.6 years.

Share Award Plan

On June 30, 2014, the Company's majority-owned subsidiary, WML, approved and adopted the WML Employee Ownership Scheme (the "Share Award Plan"). The Share Award Plan allows for the grant of nonvested shares of WML's common stock to eligible employees. The Share Award Plan is administered by WML's Board of Directors and has been mandated under the plan to allot, issue and process the transfer of a maximum of 50,000,000 shares. The Board of Directors has discretion on the vesting and service requirements, exercise price and other conditions, subject to certain limits. As of December 31, 2017, there were 34,838,793 shares available for issuance under the Share Award Plan.

The summary of nonvested share activity under the Share Award Plan for the year ended December 31, 2017 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2017	14,009,134		$	2.61
Granted	2,726,097		$	2.22
Vested	(3,318,500	)	$	3.79
Forfeited	(1,574,024	)	$	1.98
Nonvested as of December 31, 2017	11,842,707		$	2.24

The following is provided for share awards under the Share Award Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	2.22	$	1.38	$	1.95
Fair value of shares vested	$	6,884	$	—	$	—

As of December 31, 2017, there was $11.7 million of unamortized compensation expense, which is expected to be recognized over a weighted average period of 2.53 years.

Compensation Cost

The total compensation cost for stock-based compensation plans is allocated as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Casino	$	6,954	$	11,304	$	9,858
Rooms	655		374		318
Food and beverage	1,466		1,060		1,050
Entertainment, retail and other	147		82		82
General and administrative	34,749		30,398		26,978
Pre-opening expenses	—		504		189
Total stock-based compensation expense	43,971		43,722		38,475
Total stock-based compensation capitalized	80		92		350
Total stock-based compensation costs	$	44,051	$	43,814	$	38,825

Certain members of the Company's executive management team receive a portion of their annual incentive bonus in shares of the Company's stock. The number of shares is determined based on the closing stock price on the date the annual incentive bonus is settled. As the number of shares is variable, the Company records a liability for the fixed monetary amount over the service period. For the year ended December 31, 2017, the Company recorded $23.7 million of stock-based compensation expense associated with these awards and issued $21.9 million of immediately vested shares in December 2017 and $1.8 million of immediately vested shares in January 2018 to settle this liability. For the year ended December 31, 2016, the Company recorded $19.2 million of stock-based compensation expense associated with these awards and issued immediately vested shares in January 2017 to settle this liability.

During the years ended December 31, 2017, 2016 and 2015, the Company recognized income tax benefits in the Consolidated Statements of Income of $10.8 million, $10.4 million and $8.3 million, respectively, related to stock-based compensation expense. Additionally, during the years ended December 31, 2017, 2016 and 2015, the Company realized tax benefits of $25.4 million, $6.7 million and $6.7 million, respectively, related to stock option exercises and restricted stock vesting that occurred in those years.

The Company uses the Black-Scholes option pricing model to determine the estimated fair value for stock options. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. Expected volatility is based on implied and historical factors related to the Company's common stock. The risk-free interest rate used for each period presented is based on the U.S. Treasury yield curve for stock options issued under the Omnibus Plan and the Hong Kong Exchange Fund rates for stock options issued under the Share Option Plan, both at the time of grant for the period equal to the expected term. Expected term represents the weighted average time between the option's grant date and its exercise date. The Company uses historical award exercise activity and termination activity in estimating the expected term for the Omnibus Plan and Share Option Plan.

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



	Years Ended December 31,
	2017		2016		2015
Expected dividend yield	—	%	2.0	%	3.6	%
Expected volatility	—	%	45.4	%	44.1	%
Risk-free interest rate	—	%	1.1	%	1.3	%
Expected term (years)	—		6.0		6.0

The fair value of stock options granted under WML's Share Option Plan was estimated on the date of grant using the following weighted average assumptions:



	Years Ended December 31,
	2017		2016		2015
Expected dividend yield	5.7	%	6.3	%	5.0	%
Expected volatility	41.5	%	42.6	%	41.3	%
Risk-free interest rate	1.1	%	1.0	%	1.3	%
Expected term (years)	6.5		6.5		6.5

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

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



	Years Ended December 31,
	2017		2016		2015
Domestic	$	90,206	$	90,900	$	(21,880	)
Foreign	470,063		219,697		311,127
Total	$	560,269	$	310,597	$	289,247

The income tax (benefit) provision attributable to income before income taxes is as follows (in thousands):



	Years Ended December 31,
	2017			2016		2015
Current
Federal	$	(19,856	)	$	60	$	(819	)
State	51			79		—
Foreign	1,674			1,633		2,044
	(18,131		)	1,772		1,225
Deferred
Federal	(309,423		)	5,081		3,505
State	(1,431		)	1,275		4,100
Foreign	—			—		(1,107		)
	(310,854		)	6,356		6,498
Total	$	(328,985	)	$	8,128	$	7,723

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



	Years Ended December 31,
	2017		2016		2015
Federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign tax credits, net of valuation allowance	(136.1	)%	(61.5	)%	(93.2	)%
Non-taxable foreign income	(20.1	)%	(20.7	)%	(23.1	)%
Foreign tax rate differential	(17.0	)%	(14.5	)%	(21.0	)%
Change in tax rate	(11.8	)%	—	%	—	%
Repatriation of foreign earnings	81.0	%	51.6	%	97.9	%
Valuation allowance, other	5.9	%	7.5	%	4.4	%
Other, net	4.4	%	5.2	%	2.7	%
Effective tax rate	(58.7	)%	2.6	%	2.7	%

In November 2010, Wynn Macau SA received an exemption from Macau's 12% Complementary Tax on casino gaming profits, thereby exempting the casino gaming profits of Wynn Macau SA through December 31, 2015. In October 2015, Wynn Macau SA received an additional five-year exemption, effective January 1, 2016, from Macau's Complementary Tax on casino gaming profits through December 31, 2020. Accordingly, for the years ended December 31, 2017, 2016 and 2015, the Company was exempted from the payment of $63.0 million, $27.3 million and $41.6 million in such taxes or $0.61, $0.27 and $0.41 per diluted 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 2011, Wynn Macau SA received an extension of its agreement with the Macau government that provides for an annual payment of MOP 15.5 million (approximately $1.9 million) as complementary tax otherwise due by stockholders of Wynn Macau SA on dividend distributions through 2015. In August 2016, Wynn Macau SA received an extension of the agreement for an additional five years applicable to tax years 2016 through 2020. The extension agreement provides for an annual payment of MOP 12.8 million (approximately $1.6 million). As a result of the stockholder dividend tax agreements, income tax expense includes $1.6 million for each of the years ended December 31, 2017 and 2016 and $1.9 million for the year ended December 31, 2015.

The Macau special gaming tax is 35% of gross gaming revenue. U.S. tax laws only allow a foreign tax credit ("FTC") up to 35% of 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. FTC.

In December 2017, the U.S. Tax Cuts and Jobs Act ("U.S tax reform") was enacted. Also in December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act ("SAB 118"), which allows the Company to record provisional amounts during a measurement period not to extend beyond one year from the enactment date. For the year ended December 31, 2017, the Company recorded a provisional net tax benefit of $339.9 million. The provisional net tax benefit primarily consists of a $273.9 million provisional tax benefit from the increase in the foreign tax credit carryovers, net of valuation allowance, generated as a result of the deemed repatriation of deferred foreign income as well as a $66.0 million provisional tax benefit resulting from the revaluation of the Company's net deferred tax liabilities due to the decrease in the U.S. corporate tax rate from 35% to 21%. This provisional net tax benefit is based on the Company's initial analysis of the U.S. tax reform and may be adjusted over the next 12 months as the Company collects additional information and evaluates any regulatory guidance. Any subsequent adjustment to this amount will be recorded to the current income tax expense in the period in which the amount is determined.

During the years ended December 31, 2017, 2016 and 2015, the Company recognized tax benefits of $746.6 million, $170.5 million and $264.1 million, respectively (net of valuation allowance and uncertain tax positions), for FTCs generated from the earnings of Wynn Macau SA.

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 the years ended December 31, 2017 and 2016, the aggregate valuation allowance for deferred tax assets increased by $103.7 million and decreased by $44.2 million, respectively. The 2017 increase is primarily related to FTC carryforwards and other foreign deferred tax assets that are not considered more likely than not realizable. The 2016 decrease is primarily related to a release of valuation allowance on prior year FTCs expected to be utilized as a result of the sale of a 49.9% ownership interest in Retail Joint Venture.

The Company recorded tax benefits resulting from the exercise of nonqualified stock options and the value of vested restricted stock and accrued dividends of $2.6 million, $0.8 million and $0.4 million for the years ended December 31, 2017, 2016 and 2015, respectively, in excess of the amounts reported for such items as compensation costs under accounting standards related to stock-based compensation.

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



	December 31,
	2017			2016
Deferred tax assets—U.S.:
Foreign tax credit carryforwards	$	3,616,872		$	3,269,781
Receivables, inventories, accrued liabilities and other	19,356			37,391
Stock-based compensation	5,084			18,740
Pre-opening expenses	2,716			6,516
Other tax credit carryforwards	1,999			2,413
Intangibles and related other	770			21,404
Other	86			7,958
	3,646,883			3,364,203
Less: valuation allowance	(3,273,292		)	(3,201,406		)
	373,591			162,797
Deferred tax liabilities—U.S.:
Property and equipment	(106,979		)	(176,611		)
Redemption Note fair value	(13,139		)	(42,806		)
Prepaid insurance, maintenance and taxes	(10,391		)	(7,913		)
Other	(2,549		)	(2,028		)
	(133,058		)	(229,358		)
Deferred tax assets—Foreign:
Net operating loss carryforwards	74,345			50,258
Property and equipment	36,299			29,998
Pre-opening expenses	10,717			12,944
Other	1,493			2,946
	122,854			96,146
Less: valuation allowance	(117,175		)	(85,317		)
	5,679			10,829
Deferred tax liabilities—Foreign:
Property and equipment	(5,679		)	(10,829		)

Net deferred tax asset (liability)	$	240,533		$	(66,561	)

As of December 31, 2017, the Company had FTC carryforwards (net of uncertain tax positions) of $3.62 billion. Of this amount, $590.6 million will expire in 2018, $110.9 million in 2019, $530.4 million in 2020, $540.3 million in 2021, $756.0 million in 2023, $710.7 million in 2024, $47.2 million in 2025 and $330.8 million in 2027. The Company has no U.S. tax loss carryforwards. The Company incurred foreign tax losses of $319.1 million, $317.3 million and $124.4 million during the tax years ended December 31, 2017, 2016 and 2015, respectively. These foreign tax loss carryforwards expire in 2020, 2019 and 2018, respectively.

In assessing the need for a valuation allowance, the Company considered whether it is more likely than not that the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. In the assessment of the valuation allowance, appropriate consideration was given to all positive and negative evidence including recent operating profitability, forecast of future earnings and the duration of statutory carryforward periods.

As of December 31, 2017 and 2016, the Company had valuation allowances of $3.27 billion and $3.20 billion, respectively, provided on FTCs expected to expire unutilized and valuation allowances of $3.5 million and $4.4 million provided on other U.S. deferred tax assets. As of December 31, 2017 and 2016, the Company had valuation allowances of $117.2 million and $85.3 million, respectively, provided on its foreign deferred tax assets.

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



	December 31,
	2017			2016			2015
Balance—beginning of year	$	90,523		$	88,314		$	88,884
Increases based on tax positions of the current year	8,520			5,930			3,051
Settlements with taxing authorities	—			—			(354		)
Lapses in statutes of limitations	(3,807		)	(3,721		)	(3,267		)
Balance—end of year	$	95,236		$	90,523		$	88,314

As of December 31, 2017, 2016 and 2015, unrecognized tax benefits of $95.2 million, $90.3 million and $88.3 million, respectively, were recorded as reductions in deferred income taxes, net. As of December 31, 2016, $0.2 million of unrecognized tax benefits were recorded in other long-term liabilities. The Company had no unrecognized tax benefits recorded in other long-term liabilities as of December 31, 2017 and 2015.

As of December 31, 2017, 2016 and 2015, $26.9 million, $22.6 million and $20.9 million, respectively, of unrecognized tax benefits 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 each of the years ended December 31, 2017 and 2016, the Company recognized $0.9 million in interest in the provision for income taxes. During the year ended 2015, the Company recognized $0 interest and penalties.

The Company anticipates that the 2013 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, which govern the timing and deductibility of income tax deductions. As a result, the Company's unrecognized tax benefits could increase up 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 2013 domestic income tax returns remain subject to examination by the IRS to the extent tax attributes carryforward to future years. The Company's 2014 to 2016 domestic income tax returns also remain subject to examination by the IRS. The Company's 2013 to 2016 Macau income tax returns remain subject to examination by the Financial Services Bureau.

The Company has participated in the IRS Compliance Assurance Program ("CAP") for the 2012 through 2017 tax years and will continue to participate in the IRS CAP for the 2018 tax year.

In February 2016, 2017 and 2018 the Company received notification that the IRS completed its examination of the Company's 2014, 2015 and 2016 U.S. income tax returns, respectively. There were no changes in its unrecognized tax benefits as a result of the completion of these examinations.

In December 2015, the Financial Services Bureau completed an examination of the 2012 Macau income tax return of Wynn Macau SA. On December 31, 2015, the statute of limitations for the 2010 Macau Complementary Tax return expired. As a result of the exam settlement and the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $3.6 million.

On December 31, 2016, the statute of limitations for the 2011 Macau Complementary tax return expired. As a result of the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $3.7 million.

In April 2016, the Financial Services Bureau commenced an examination of the 2011 and 2012 Macau income tax returns of Palo. In June 2016, the Financial Services Bureau concluded its examination with no changes.

On December 31, 2017, the statute of limitations for the 2012 Macau Complementary tax return expired. As a result of the expiration of the statute of limitations for the Macau Complementary Tax return, the total amount of unrecognized tax benefits decreased by $3.8 million.

In March 2017, the Financial Services Bureau commenced an examination of the 2013 and 2014 Macau income tax returns of Wynn Macau SA. As of December 31, 2017, based upon the current status of the examination, no changes to the unrecognized tax benefits are required.

In July 2017, the Financial Services Bureau commenced an examination of the 2013 and 2014 Macau income tax returns of Palo. In February 2018, the Financial Services Bureau concluded its examination with no changes.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Wynn Boston Harbor Development

On April 28, 2017, Wynn MA, LLC ("Wynn MA"), an indirect wholly owned subsidiary of the Company, and Suffolk Construction Company, Inc. (the "Construction Manager"), entered into an agreement concerning the construction of Wynn Boston Harbor, which, among other things, confirmed the guaranteed maximum price for the construction work undertaken by the Construction Manager. The Construction Manager is obligated to substantially complete the project by June 24, 2019 for a guaranteed maximum price of $1.32 billion. Both the contract time and guaranteed maximum price are subject to further adjustment under certain conditions. The performance of the Construction Manager is backed by a payment and performance bond in the amount of $350.0 million.

Leases

Lessor Arrangements

The Company is the lessor under leases for retail space at its resorts. The lease agreements include minimum base rents with contingent rental clauses primarily based on percentage of net sales exceeding minimum base rents.

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



Years Ending December 31,
2018	$	108,101
2019	114,577
2020	115,499
2021	53,902
2022	32,944
Thereafter	165,704
Total future minimum rentals	$	590,727

The total future minimum rentals do not include contingent rentals. Contingent rentals were $38.6 million, $34.6 million and $48.6 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Lessee Arrangements

The Company is the lessee under leases for office space, warehouse facilities, certain office equipment and various parcels of land, including the land that Wynn Macau and Wynn Palace are built on. As of December 31, 2017, capital leases reflected in property and equipment, net on the Consolidated Balance Sheet were $16.6 million. The future minimum lease payments for capital leases are discounted to their present value in the table below and are included in other long-term liabilities on the Consolidated Balance Sheet.

As of December 31, 2017, the Company was obligated under non-cancelable leases to make future minimum lease payments as follows (in thousands):



Years Ending December 31,	Operating Leases		Capital Leases
2018	$	18,052	$	989
2019	17,449		989
2020	12,083		989
2021	11,294		989
2022	11,323		989
Thereafter	69,045		67,732
Total minimum lease payments	$	139,246	72,677
Less: Amount representing interest			(56,161		)
			$	16,516

Rent expense for the years ended December 31, 2017, 2016 and 2015 was $18.3 million, $17.9 million and $16.4 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). As of December 31, 2017, the Company was obligated to make future payments of $65.8 million, $45.4 million, $18.7 million, $4.8 million and $2.9 million during the years ending December 2018, 2019, 2020, 2021 and 2022, respectively.

Other Commitments

The Company has additional commitments for gaming tax payments in Macau and performance and other miscellaneous contracts. As of December 31, 2017, the Company was obligated under these arrangements, to make future minimum payments as follows (in thousands):



Years Ending December 31,
2018	$	127,943
2019	91,637
2020	50,438
2021	38,569
2022	6,537
Thereafter	4,000
Total minimum payments	$	319,124

The above table does not include community payments associated with the continuing operations of Wynn Boston Harbor, which commence upon the opening of the resort. These amounts are approximately $10.6 million per year with minimal annual increases.

Letters of Credit

As of December 31, 2017, the Company had outstanding letters of credit of $17.7 million.

Litigation

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

Determination of Unsuitability and Redemption of Aruze and Affiliates

On February 18, 2012, Wynn Resorts' Gaming Compliance Committee received an independent report by Freeh, Sporkin & Sullivan, LLP (the "Freeh Report") detailing a pattern of misconduct by the Okada Parties. The factual record presented in the Freeh Report included evidence that the Okada Parties 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.

Based on the Freeh Report, the Board of Directors of Wynn Resorts determined that the Okada Parties are "unsuitable persons" under Article VII of the Company's articles of incorporation. On that same day, Wynn Resorts redeemed and canceled Aruze's 24,549,222 shares of Wynn Resorts' common stock, and, pursuant to its articles of incorporation, Wynn Resorts issued the Redemption Note to Aruze 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. For additional information on the redemption and the Redemption Note, see Note 7, "Long-term Debt" and Note 9, "Stockholders' Equity."

Redemption Action and Counterclaim

On February 19, 2012, Wynn Resorts filed a complaint in the Eighth Judicial District Court, Clark County, Nevada against the Okada Parties (as amended, the "Complaint"), alleging breaches of fiduciary duty and related claims (the "Redemption Action") arising from the activities addressed in the Freeh Report. 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 canceling the shares of Aruze.

On March 12, 2012, the Okada Parties filed an answer denying the claims and a counterclaim (as amended, the "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"). The Counterclaim alleges, among other things: (1) that the shares of Wynn Resorts common stock owned by Aruze were exempt from the redemption-for-unsuitability provisions in the Wynn Resorts articles of incorporation (the "Articles") pursuant to certain agreements executed in 2002; (2) that the Wynn Resorts directors who authorized the redemption of Aruze's shares acted at the direction of Mr. Wynn and did not independently and objectively evaluate the Okada Parties' suitability, and by so doing, breached their fiduciary duties; (3) that the Wynn Resorts directors violated the terms of the Wynn Resorts Articles by failing to pay Aruze fair value for the redeemed shares; and (4) that the terms of the Redemption Note that Aruze 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 Counterclaim seeks a declaration that the redemption of Aruze's shares was void, an injunction restoring Aruze's share ownership, damages in an unspecified amount and rescission of the Amended and Restated Stockholders Agreement, dated as of January 6, 2010, by and among Aruze, Mr. Wynn, and Elaine P. Wynn (the "Stockholders Agreement").

On June 19, 2012, Elaine P. Wynn asserted a cross claim against Mr. Wynn and Aruze seeking a declaration that (1) any and all of Elaine P. Wynn's duties under the Stockholders Agreement shall 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 P. Wynn. On May 17, 2017, Elaine P. Wynn filed an amended cross claim which added Wynn Resorts and Wynn Resorts' General Counsel (together with Mr. Wynn, the "Wynn Cross Defendants") as cross defendants. The amended cross claim substantially repeats its earlier allegations and further alleges that Mr. Wynn engaged in acts of misconduct that, with the Wynn Cross Defendants, resulted in Mr. Wynn allegedly breaching the Stockholders Agreement and violating alleged duties under the Stockholders Agreement by preventing Elaine P. Wynn from being nominated and elected to serve as one of the Company's directors. In addition to continuing to seek the declarations asserted under the original cross claim, the amended cross claim seeks an order compelling Mr. Wynn to comply with the Stockholders Agreement by assuring the nomination and election of Elaine P. Wynn to the Board of Directors and seeks unspecified monetary damages from Mr. Wynn and the Wynn Cross Defendants. On July 10, 2017, the court denied Wynn Resorts' and Wynn Resorts' General Counsel's motions to dismiss, and on July 24, 2017, the court denied Wynn Resorts' motion to sever. The Wynn Cross Defendants will vigorously defend against the claims asserted against them.

The 2023 Indenture provides that if Mr. Wynn, together with certain related parties, in the aggregate beneficially owns a lesser percentage of the voting power of the outstanding common stock of the Company than is beneficially owned by any other person, a change of control will have occurred. The 2025 Indenture and the 2027 Indenture each provides that if any event constitutes a "change of control" under the 2023 Indenture, it will constitute a change of control under the 2025 Indenture and the 2027 Indenture, respectively. If the Stockholders Agreement is determined not to be enforceable pursuant to Elaine P. Wynn's cross claim, Mr. Wynn would not beneficially own or control Elaine P. Wynn's shares, which could increase the likelihood that a change in control may occur under the Wynn Las Vegas, LLC debt documents. Under the 2023 Indenture, the 2025 Indenture and the 2027 Indenture, if (1) a change of control occurs and (2) at any time within 60 days after that occurrence, the 2023 Notes or the 2025 Notes, as applicable, are rated below investment grade by both rating agencies that rate such notes and, in the case of the 2027 Indenture, the ratings of the 2027 WLV Notes have decreased below the ratings assigned to the 2027 WLV Notes on the date they were issued as described in the 2027 Indenture, the Company is required to make an offer to each applicable 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 (unless the notes have been previously called for redemption).

On February 16, 2018, the Issuers commenced a Consent Solicitation for a Proposed Amendment to the 2023 Indenture. The Proposed Amendment would conform the definition of change of control relating to ownership of equity interests in the Company to the terms of the 2025 Indenture and 2027 Indenture. Adoption of the Proposed Amendment requires the consent of holders of a majority in aggregate principal amount of the 2023 Notes. The Consent Solicitation will expire on March 6, 2018.

Fact discovery closed in November 2017 and expert discovery closed in January 2018. In February 2018, the court ruled upon the parties' various motions for summary judgment and, among other rulings, entered summary judgment in favor of the Wynn Parties and against the Okada Parties related to their claims that the terms of the Redemption Note violated the Articles or were otherwise unconscionable. Trial is scheduled to begin in April 2018.

Wynn Resorts will continue to vigorously pursue its claims against the Okada Parties, and Wynn Resorts and the Wynn Parties will continue to vigorously defend against the counterclaims asserted against them. 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. An adverse judgment or settlement involving payment of a material amount could cause a material adverse effect on Wynn Resorts' financial condition.

Litigation Commenced by Kazuo Okada

Indemnification Action:

On March 20, 2013, Mr. Okada filed a complaint against the Company in Nevada state court for indemnification under the Company's Articles, bylaws and agreements with its directors. The complaint sought advancement of Mr. Okada's costs and expenses (including attorney's fees) incurred pursuant to the various legal proceedings and related regulatory investigations described above. The Company's answer and counterclaim was filed on April 15, 2013. The counterclaim named each of the Okada Parties as defendants and sought indemnification under the Company's Articles for costs and expenses (including attorney's fees) incurred pursuant to the various legal proceedings and related regulatory investigations described above. On April 30, 2013, Mr. Okada filed his reply to the counterclaim. On February 4, 2014, the court entered an order on the parties' stipulation that: (1) dismissed all claims Mr. Okada asserted against the Company; (2) reserved Mr. Okada's right to assert, in the future, any claims for indemnity following the resolution of the Redemption Action; and (3) stayed the claims asserted by the Company against Mr. Okada pending the resolution of the Redemption Action.

The Company believes the action commenced by Mr. Okada is without merit and will vigorously defend itself against the claims pleaded against it. Management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this action or the range of reasonably possible loss, if any.

Macau Action:

On July 3, 2015, WML announced that the Okada Parties filed a complaint in the Court of First Instance of Macau ("Macau Court") against Wynn Macau SA and certain individuals who are or were directors of Wynn Macau SA and or WML (collectively, the "Wynn Macau Parties"). The principal allegations in the lawsuit are that the redemption of the Okada Parties' shares in Wynn Resorts was improper and undervalued, that the previously disclosed payment by Wynn Macau SA to an unrelated third party in consideration of relinquishment by that party of certain rights in and to any future development on the land in Cotai where Wynn Palace is located was unlawful and that the previously disclosed donation by Wynn Resorts to the University of Macau Development Foundation was unlawful. The plaintiffs seek dissolution of Wynn Macau SA and compensatory damages. On July 11, 2017, the Macau Court dismissed all claims by the Okada Parties as unfounded, fined the Okada Parties as vexatious litigants, and ordered the Okada Parties to pay for court costs and the Wynn Macau Parties' attorney's fees. On or about October 16, 2017, the Okada Parties filed formal appeal papers in Macau, which Wynn Macau SA received on November 21, 2017. Wynn Macau SA filed its response on December 21, 2017.

The Company believes the action commenced by the Okada Parties is without merit and will vigorously defend itself against the claims pleaded against it. Management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this action or the range of reasonably possible loss, if any.

Derivative Litigation Related to Redemption Action

Two state derivative actions were commenced against the Company and all members of its Board of Directors in the Eighth Judicial District Court of Clark County, Nevada. These state court actions brought by the following plaintiffs have been consolidated: (1) IBEW Local 98 Pension Fund and (2) Danny Hinson (collectively, the "Derivative Plaintiffs"). The Derivative 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 during the applicable period, including Mr. Okada, as well as the Company's Chief Financial Officer who signed financial disclosures filed with the SEC during the applicable periods. The Derivative 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 Derivative 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 attorney's fees and costs. On June 18, 2014, the court entered a stipulation between the parties that provides for a stay of the action and directs the parties, within 45 days of the conclusion of the Redemption Action, to discuss how the derivative action should proceed and to file a joint report with the court.

The defendants in these actions are vigorously defending against the claims pleaded against them. Management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of these actions or the range of reasonably possible loss, if any.

Massachusetts Gaming License Related Action

On September 17, 2014, the Massachusetts Gaming Commission ("MGC") designated Wynn MA the award winner of the Greater Boston (Region A) gaming license. On November 7, 2014, the gaming license became effective.

On October 16, 2014, the City of Revere, the host community to the unsuccessful bidder for the same license, and the International Brotherhood of Electrical Workers, Local 103 ("IBEW") filed a complaint against the MGC and each of the five gaming commissioners in Suffolk Superior Court in Boston, Massachusetts (the "Revere Action"). The complaint challenges the MGC's decision and alleges that the MGC failed to follow statutory requirements outlined in the Gaming Act. The complaint (1) seeks to appeal the administrative decision, (2) asserts that certiorari provides a remedy to correct errors in proceedings by an agency such as the MGC, (3) challenges the constitutionality of that section of the gaming law which bars judicial review of the MGC's decision to deny an applicant a gaming license, and (4) alleges violations of the open meeting law requirements. The court allowed Mohegan Sun ("Mohegan"), the other applicant for the Greater Boston (Region A) gaming license, to intervene in the Revere Action, and on February 23, 2015, Mohegan filed its complaint. The Mohegan complaint challenges the license award to Wynn MA, seeks judicial review of the MGC's decision, and seeks to vacate the MGC's license award to Wynn MA.

On July 1, 2015, the MGC filed motions to dismiss Mohegan's and the City of Revere's complaints. On December 3, 2015, the court granted the motion to dismiss the claims asserted in the Revere Action. Also on December 3, 2015, the court granted the motion to dismiss three of the four counts asserted by Mohegan but denied the motion as to Mohegan's certiorari claim. The City of Revere and IBEW sought immediate appellate review of the dismissal of their claims and the MGC requested immediate appellate review of the court's denial of the MGC's motion to dismiss Mohegan's certiorari claim. All three petitions for interlocutory review were denied. The parties then appealed to the Massachusetts Supreme Judicial Court ("SJC"). On March 10, 2017, the SJC affirmed the trial court's dismissal of the City of Revere's claims and IBEW's claims. The SJC affirmed the court's dismissal of Mohegan's claims except for the certiorari claim, which the SJC remanded to the Suffolk Superior Court. Mohegan filed a motion for judgment on the pleadings on November 3, 2017, and oral argument is scheduled for April 5, 2018.

The SJC reversed the trial court's dismissal of the individual plaintiffs' open meeting law claim and remanded that claim to the Suffolk Superior Court. The parties are currently in the discovery phase.

Wynn MA was not named in the above complaint. The MGC retained private legal representation at its own nontaxpayer-funded expense.

Actions Related to Mr. Wynn

Investigations:

On January 26, 2018, the Company's Board of Directors formed a Special Committee comprised solely of independent directors to investigate allegations of inappropriate personal conduct by Mr. Wynn in the workplace. On February 12, 2018, the Special Committee announced that its review was expanded to include a comprehensive review of the Company's internal policies and procedures with the goal of employing best practices to maintain a safe and respectful workplace for all employees. Gaming regulators in Massachusetts and Nevada are reviewing these matters, including suitability with respect to the Company and its related licensees, and the Company is cooperating with these regulatory reviews. The gaming regulator in Macau is monitoring and reviewing the situation, and the Company is cooperating.

Stockholder Actions:

Six stockholder derivative actions have been filed on behalf of the Company in state and federal court located in Clark County, Nevada against certain members of the Company's Board of Directors and, in some cases, the Company's General Counsel. Specifically, (i) on February 6, 2018, Norfolk County Retirement System filed a stockholder derivative action against certain current and former members of the Company's Board of Directors and the Company's General Counsel; (ii) on February 15, 2018, Operating Engineers Construction Industry and Miscellaneous Pension Fund filed a stockholder derivative action against certain current and former members of the Company's Board of Directors; (iii) on February 15, 2018, Boynton Beach Municipal Firefighters' Pension Trust Fund and the Firemen's Retirement System of St. Louis filed a stockholder derivative action against certain current and former members of the Company's Board of Directors and the Company's General Counsel; (iv) on February 15, 2018, Rickey A. Broussard filed a stockholder derivative action against certain current and former members of the Company's Board of Directors and the Company's General Counsel, (v) on February 22, 2018, Thomas P. DiNapoli, Comptroller of the State of New York, as Administrative Head of the New York State and Local Retirement System and trustee of the New York State Common Retirement Fund filed a shareholder derivative action against certain current and former members of the Company's Board of Directors and the Company's General Counsel and (vi) on February 22, 2018, Erste-Sparinvest Kapitalanlagegesellschaft M.B.H. filed a shareholder derivative action against certain current and former members of the Company's Board of Directors and the Company's General Counsel. Each of the complaints alleges, among other things, breach of fiduciary duties in failing to detect, prevent and remedy alleged inappropriate personal conduct by Mr. Wynn in the workplace. Each of the actions seeks to recover for the Company unspecified damages, including restitution and disgorgement of profits, and also seeks to recover attorneys' fees, costs and related expenses for the plaintiff.

On February 20, 2018, a securities class action was filed against the Company and certain current and former officers of the Company in the United States District Court, Southern District of New York by John V. Ferris and Joann M. Ferris on behalf of all persons who purchased the Company's common stock between February 28, 2014 and January 25, 2018. The complaint alleges, among other things, certain violations of federal securities laws and seeks to recover unspecified damages as well as attorneys' fees, costs and related expenses for the plaintiffs.

The defendants in these actions will vigorously defend against the claims pleaded against them. These actions are in preliminary stages and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of these actions or the range of reasonably possible loss, if any.

Segment Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment Information

The Company reviews the results of operations for each of its operating segments. Wynn Macau and Encore, an expansion at Wynn Macau, are managed as a single integrated resort and have been aggregated as one reportable segment ("Wynn Macau"). Wynn Palace is presented as a separate reportable segment and is combined with Wynn Macau for geographical presentation. Wynn Las Vegas and Encore, an expansion at Wynn Las Vegas, are managed as a single integrated resort and have been aggregated as one reportable segment ("Las Vegas Operations"). The Company identifies each resort as a reportable segment considering operations within each resort have similar economic characteristics, type of customers, types of services and products, the regulatory environment of the operations and the Company's organizational and management reporting structure.

The Company also reviews construction and development activities for each of its projects under development, in addition to its reportable segments. The Company separately identifies capital expenditures and assets for its Wynn Boston Harbor development project. Other Macau primarily represents the Company's Macau holding company.

The following tables present the Company's segment information (in thousands):



	Years Ended December 31,
	2017			2016			2015
Net revenues
Macau Operations:
Wynn Macau	$	2,485,804		$	2,264,087		$	2,463,092
Wynn Palace	2,139,154			583,336			—
Total Macau Operations	4,624,958			2,847,423			2,463,092
Las Vegas Operations	1,681,410			1,618,874			1,612,791
Total	$	6,306,368		$	4,466,297		$	4,075,883
Adjusted Property EBITDA(1)
Macau Operations:
Wynn Macau	$	760,752		$	681,509		$	708,623
Wynn Palace	527,583			103,036			—
Total Macau Operations	1,288,335			784,545			708,623
Las Vegas Operations	522,397			474,782			477,166
Total	1,810,732			1,259,327			1,185,789
Other operating expenses
Pre-opening	26,692			154,717			77,623
Depreciation and amortization	552,368			404,730			322,629
Property charges and other	29,576			54,822			10,535
Corporate expenses and other	102,560			80,162			76,079
Stock-based compensation	43,971			43,218			38,286
Equity in income from unconsolidated affiliates	—			16			1,823
Total other operating expenses	755,167			737,665			526,975
Operating income	1,055,565			521,662			658,814
Other non-operating income and expenses
Interest income	31,193			13,536			7,229
Interest expense, net of amounts capitalized	(388,664		)	(289,365		)	(300,906		)
Change in interest rate swap fair value	(1,056		)	433			(5,300		)
Change in Redemption Note fair value	(59,700		)	65,043			52,041
Loss on extinguishment of debt	(55,360		)	—			(126,004		)
Equity in income from unconsolidated affiliates	—			16			1,823
Other	(21,709		)	(728		)	1,550
Total other non-operating income and expenses	(495,296		)	(211,065		)	(369,567		)
Income before income taxes	560,269			310,597			289,247
Benefit (provision) for income taxes	328,985			(8,128		)	(7,723		)
Net income	889,254			302,469			281,524
Less: Net income attributable to noncontrolling interests	(142,073		)	(60,494		)	(86,234		)
Net income attributable to Wynn Resorts, Limited	$	747,181		$	241,975		$	195,290

(1)

"Adjusted Property EBITDA" is net income before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other, management and license fees, corporate expenses and other (including intercompany golf course and water rights leases), stock-based compensation, loss on extinguishment of debt, change in interest rate swap fair value, change in Redemption Note fair value 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, as well as a basis for determining certain incentive compensation. 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 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, that 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, income 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.



	Years ended December 31,
	2017		2016		2015
Capital expenditures
Macau Operations:
Wynn Macau	$	43,510	$	43,548	$	68,744
Wynn Palace	107,405		838,271		1,566,090
Total Macau Operations	150,915		881,819		1,634,834
Las Vegas Operations	139,893		106,373		117,011
Wynn Boston Harbor	572,825		212,197		67,705
Corporate and other	71,841		25,554		101,690
	$	935,474	$	1,225,943	$	1,921,240



	December 31,
	2017		2016		2015
Assets
Macau Operations:
Wynn Macau	$	1,271,544	$	1,161,670	$	1,331,312
Wynn Palace	4,017,494		4,317,458		3,439,041
Other Macau	174,769		28,927		570,959
Total Macau Operations	5,463,807		5,508,055		5,341,312
Las Vegas Operations	3,266,390		3,275,780		3,145,713
Wynn Boston Harbor	1,060,530		419,001		185,853
Corporate and other	2,891,012		2,750,721		1,786,281
	$	12,681,739	$	11,953,557	$	10,459,159



	December 31,
	2017		2016		2015
Long-lived assets
Macau	$	4,613,950	$	4,973,854	$	4,324,743
United States	4,083,555		3,442,842		3,337,356
	$	8,697,505	$	8,416,696	$	7,662,099

- 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
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Schedule II- Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2017

Valuation and Qualifying Accounts Disclosure [Line Items]

Schedule II- Valuation and Qualifying Accounts

VALUATION AND QUALIFYING ACCOUNTS

(in thousands)





Description	Balance at Beginning of Year		Provision (Benefit) for Doubtful Accounts		Write-offs, Net of Recoveries		Balance at End of Year
Allowance for doubtful accounts:
2017	$	54,742	(6,711	)	(17,431	)	$	30,600
2016	$	67,057	8,203		(20,518	)	$	54,742
2015	$	74,678	11,115		(18,736	)	$	67,057

Description	Balance at Beginning of Year		Additions		Deductions		Balance at End of Year
Deferred income tax asset valuation allowance:
2017	$	3,286,723	112,543		(8,799	)	$	3,390,467
2016	$	3,330,878	32,130		(76,285	)	$	3,286,723
2015	$	3,296,789	52,759		(18,670	)	$	3,330,878

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Restricted Cash

Investment Securities

Accounts Receivable and Credit Risk

Inventories

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:



	Estimated Useful Lives (years)
Buildings and improvements	10 to 45
Land improvements	10 to 45
Furniture, fixtures and equipment	3 to 20
Leasehold interest in land	25
Airplanes	20

Redemption Price Promissory Note

Derivative Financial Instruments

Revenue Recognition and Promotional Allowances

The retail value of rooms, food and beverage, entertainment and other services provided to guests without charge is included in gross revenues and are then deducted as promotional allowances.

Customer Loyalty Program

Customer Loyalty Programs

Gaming Taxes

Advertising Costs

Pre-Opening Expenses

Pre-opening expenses represent personnel, advertising, and other costs incurred prior to the opening of new ventures and are expensed as incurred.

Income Taxes

As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes.

Foreign Currency

Comprehensive Income

Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

The following table presents the changes by component, net of tax and noncontrolling interests, in accumulated other comprehensive income (loss) of the Company (in thousands):



	Foreign currency translation			Unrealized loss on investment securities			Accumulated other comprehensive income (loss)
December 31, 2016	$	2,213		$	(729	)	$	1,484
Current period other comprehensive loss	(2,766		)	(563		)	(3,329		)
December 31, 2017	$	(553	)	$	(1,292	)	$	(1,845	)

Fair Value Measurements


•	Level 1 - Observable inputs such as quoted prices in active markets.


•	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable.


•	Level 3 - Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Earnings Per Share

Stock-Based Compensation

Recently Issued and Adopted Accounting Standards

Accounting Standards Issued But Not Yet Adopted

Redemption Price Promissory Note Policy [Policy Text Block]

Redemption Price Promissory Note

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Schedule of Receivables, net

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



	December 31,
	2017			2016
Casino	$	173,664		$	211,557
Hotel	22,487			21,897
Other	58,577			40,256
	254,728			273,710
Less: allowance for doubtful accounts	(30,600		)	(54,742		)
	$	224,128		$	218,968

Schedule of Estimated Useful Lives of Assets

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:



	Estimated Useful Lives (years)
Buildings and improvements	10 to 45
Land improvements	10 to 45
Furniture, fixtures and equipment	3 to 20
Leasehold interest in land	25
Airplanes	20

Estimated Retail Value of Promotional Allowance

The estimated retail value of providing such promotional allowances is as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Rooms	$	268,023	$	211,822	$	184,779
Food and beverage	164,466		131,479		133,984
Entertainment, retail and other	29,389		26,757		23,975
	$	461,878	$	370,058	$	342,738

Estimated Cost of Promotional Allowances



	Years Ended December 31,
	2017		2016		2015
Rooms	$	83,884	$	63,448	$	51,775
Food and beverage	143,892		113,341		106,840
Entertainment, retail and other	21,478		17,170		14,414
	$	249,254	$	193,959	$	173,029

Schedule of Assets and Liabilities Carried at Fair Value

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



			Fair Value Measurements Using:
	December 31, 2017		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	450,230	$	11,200	$	439,030	$	—
Available-for-sale securities	$	327,455	$	—	$	327,455	$	—
Restricted cash	$	2,160	$	—	$	2,160	$	—

Liabilities:
Redemption Note	$	1,879,058	$	—	$	1,879,058	$	—

			Fair Value Measurements Using:
	December 31, 2016		Quoted Market Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	1,106,606	$	3,868	$	1,102,738	$	—
Available-for-sale securities	$	301,460	$	—	$	301,460	$	—
Restricted cash	$	192,823	$	—	$	192,823	$	—
Interest rate swaps	$	1,056	$	—	$	1,056	$	—

Liabilities:
Redemption Note	$	1,819,359	$	—	$	1,819,359	$	—

Schedule of Shares used in Calculation of Earnings Per Share

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted EPS consisted of the following (in thousands, except per share amounts):



	Years Ended December 31,
	2017		2016		2015
Numerator:
Net income attributable to Wynn Resorts, Limited	$	747,181	$	241,975	$	195,290

Denominator:
Weighted average common shares outstanding	102,071		101,445		101,163
Potential dilutive effect of stock options and restricted stock	527		410		508
Weighted average common and common equivalent shares outstanding	102,598		101,855		101,671

Net income attributable to Wynn Resorts, Limited per common share, basic	$	7.32	$	2.39	$	1.93
Net income attributable to Wynn Resorts, Limited per common share, diluted	$	7.28	$	2.38	$	1.92

Anti-dilutive stock options and restricted stock excluded from the calculation of diluted earnings per share	106		758		677

Summary of Significant Accounting Policies Schedule of Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2017

Accumulated Other Comprehensive Income Text Block [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes by component, net of tax and noncontrolling interests, in accumulated other comprehensive income (loss) of the Company (in thousands):



	Foreign currency translation			Unrealized loss on investment securities			Accumulated other comprehensive income (loss)
December 31, 2016	$	2,213		$	(729	)	$	1,484
Current period other comprehensive loss	(2,766		)	(563		)	(3,329		)
December 31, 2017	$	(553	)	$	(1,292	)	$	(1,845	)

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

Investment securities, available-for-sale consisted of the following (in thousands):



	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value (net carrying amount)
As of December 31, 2017
Domestic and foreign corporate bonds	$	328,747	$	6	$	(1,298	)	$	327,455

As of December 31, 2016
Domestic and foreign corporate bonds	$	245,425	$	19	$	(720	)	$	244,724
Commercial paper	56,764		5		(33		)	56,736
Total	$	302,189	$	24	$	(753	)	$	301,460

Investments by Contractual Maturity

The fair value of these investment securities as of December 31, 2017, by contractual maturity, are as follows (in thousands):



	Fair value
Available-for-sale securities
Due in one year or less	$	166,773
Due after one year through two years	118,280
Due after two years through three years	42,402
	$	327,455

- 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 + Details

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

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



	December 31,
	2017			2016
Buildings and improvements	$	7,582,611		$	7,623,069
Land and improvements	853,738			834,420
Furniture, fixtures and equipment	2,211,974			2,181,515
Leasehold interest in land	314,068			316,516
Airplanes	158,840			179,730
Construction in progress	1,016,207			299,686
	12,137,438			11,434,936
Less: accumulated depreciation	(3,638,682		)	(3,175,305		)
	$	8,498,756		$	8,259,631

Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Indefinite-Lived Intangible Assets

Intangible assets, net consisted of the following (in thousands):



	December 31,
	2017			2016
Indefinite-lived intangible assets:
Water rights	$	6,400		$	6,400
Trademarks	1,387			1,387
Total indefinite-lived intangible assets	7,787			7,787

Finite-lived intangible assets:
Macau gaming concession	42,300			42,300
Less: accumulated amortization	(31,582		)	(29,199		)
	10,718			13,101

Massachusetts gaming license	105,200			92,700
Less: accumulated amortization	—			—
	105,200			92,700

Total finite-lived intangible assets	115,918			105,801
Total intangible assets, net	$	123,705		$	113,588

Finite-Lived Intangible Assets

Intangible assets, net consisted of the following (in thousands):



	December 31,
	2017			2016
Indefinite-lived intangible assets:
Water rights	$	6,400		$	6,400
Trademarks	1,387			1,387
Total indefinite-lived intangible assets	7,787			7,787

Finite-lived intangible assets:
Macau gaming concession	42,300			42,300
Less: accumulated amortization	(31,582		)	(29,199		)
	10,718			13,101

Massachusetts gaming license	105,200			92,700
Less: accumulated amortization	—			—
	105,200			92,700

Total finite-lived intangible assets	115,918			105,801
Total intangible assets, net	$	123,705		$	113,588

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Long-Term Debt

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



	December 31,
	2017			2016
Macau Related:
Wynn Macau Credit Facilities:
Senior Term Loan Facility	$	2,298,798		$	2,306,773
Senior Revolving Credit Facility	—			340,846
WML Finance Credit Facility	—			189,651
4 7/8% Senior Notes, due 2024	600,000			—
5 1/2% Senior Notes, due 2027	750,000			—
5 1/4% Senior Notes, due 2021	—			1,350,000

U.S. and Corporate Related:
Wynn America Credit Facilities:
Senior Term Loan Facility	1,000,000			1,000,000
4 1/4% Senior Notes, due 2023	500,000			500,000
5 1/2% Senior Notes, due 2025	1,800,000			1,800,000
5 1/4% Senior Notes, due 2027	900,000			—
5 3/8% First Mortgage Notes, due 2022	—			900,000
Redemption Price Promissory Note, due 2022	1,936,443			1,936,443
	9,785,241			10,323,713
Less: Unamortized debt issuance costs and original issue discounts and premium, net	(99,231		)	(81,277		)
Less: Redemption Note fair value adjustment	(57,384		)	(117,084		)
	9,628,626			10,125,352
Less: Current portion of long-term debt	(62,690		)	—
Total long-term debt, net of current portion	$	9,565,936		$	10,125,352

Scheduled Maturities of Long-Term Debt

Scheduled maturities of long-term debt as of December 31, 2017 were as follows (in thousands):



Years Ending December 31,
2018	$	62,690
2019	282,816
2020	616,879
2021	2,336,413
2022	1,936,443
Thereafter	4,550,000
	9,785,241
Unamortized debt issuance costs and original issue discounts and premium, net	(99,231		)
Redemption Note fair value adjustment	(57,384		)
	$	9,628,626

- 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 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

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.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award

Valuation Assumptions

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



	Years Ended December 31,
	2017		2016		2015
Expected dividend yield	—	%	2.0	%	3.6	%
Expected volatility	—	%	45.4	%	44.1	%
Risk-free interest rate	—	%	1.1	%	1.3	%
Expected term (years)	—		6.0		6.0

The fair value of stock options granted under WML's Share Option Plan was estimated on the date of grant using the following weighted average assumptions:



	Years Ended December 31,
	2017		2016		2015
Expected dividend yield	5.7	%	6.3	%	5.0	%
Expected volatility	41.5	%	42.6	%	41.3	%
Risk-free interest rate	1.1	%	1.0	%	1.3	%
Expected term (years)	6.5		6.5		6.5

Wynn Resorts Limited 2014 Omnibus Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award

Option Activity

The summary of stock option activity under the Omnibus Plan for the year ended December 31, 2017 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	1,306,260		$	83.56
Granted	—		$	—
Exercised	(661,800	)	$	92.94
Forfeited or expired	—		$	—
Outstanding as of December 31, 2017	644,460		$	73.93	2.54	$	61,846,602
Fully vested and expected to vest as of December 31, 2017	644,460		$	73.93	2.54	$	61,846,602
Exercisable as of December 31, 2017	458,010		$	80.49	2.83	$	40,980,802

The following is provided for stock options under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	—	$	34.90	$	31.83
Intrinsic value of stock options exercised	$	29,716	$	3,657	$	1,684
Cash received from the exercise of stock options	$	61,506	$	3,487	$	3,026

Restricted Stock Award Activity

The summary of nonvested share activity under the Omnibus Plan for the year ended December 31, 2017 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2017	151,756		$	112.14
Granted	706,341		109.28
Vested	(384,180	)	120.60
Forfeited	(13,333	)	197.94
Nonvested as of December 31, 2017	460,584		$	98.21

Restricted Stock Award Activity

The following is provided for the share awards under the Omnibus Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	109.28	$	63.56	$	145.92
Fair value of shares vested	$	45,801	$	39,380	$	22,877

Share Option Plan

Share-based Compensation Arrangement by Share-based Payment Award

Restricted Stock Award Activity

The summary of stock option activity under the Share Option Plan for the year ended December 31, 2017 is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	6,290,000		$	2.28
Granted	1,208,000		$	2.26
Exercised	(492,000	)	$	1.43
Outstanding as of December 31, 2017	7,006,000		$	2.32	6.9	$	6,539,606
Fully vested and expected to vest as of December 31, 2017	7,006,000		$	2.32	6.9	$	6,539,606
Exercisable as of December 31, 2017	3,074,000		$	2.66	5.3	$	1,932,866

The following is provided for stock options under the Share Option Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	0.56	$	0.31	$	0.47
Intrinsic value of stock options exercised	$	369	$	—	$	—
Cash received from the exercise of stock options	$	703	$	—	$	—

Share Award Plan

Share-based Compensation Arrangement by Share-based Payment Award

Restricted Stock Award Activity

The summary of nonvested share activity under the Share Award Plan for the year ended December 31, 2017 is presented below:



	Shares		Weighted Average Grant Date Fair Value
Nonvested as of January 1, 2017	14,009,134		$	2.61
Granted	2,726,097		$	2.22
Vested	(3,318,500	)	$	3.79
Forfeited	(1,574,024	)	$	1.98
Nonvested as of December 31, 2017	11,842,707		$	2.24

The following is provided for share awards under the Share Award Plan (in thousands, except weighted average grant date fair value):



	Years Ended December 31,
	2017		2016		2015
Weighted average grant date fair value	$	2.22	$	1.38	$	1.95
Fair value of shares vested	$	6,884	$	—	$	—

Share-Based Compensation Allocated Costs

The total compensation cost for stock-based compensation plans is allocated as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Casino	$	6,954	$	11,304	$	9,858
Rooms	655		374		318
Food and beverage	1,466		1,060		1,050
Entertainment, retail and other	147		82		82
General and administrative	34,749		30,398		26,978
Pre-opening expenses	—		504		189
Total stock-based compensation expense	43,971		43,722		38,475
Total stock-based compensation capitalized	80		92		350
Total stock-based compensation costs	$	44,051	$	43,814	$	38,825

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Consolidated Income Loss Before Taxes for Domestic and Foreign

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



	Years Ended December 31,
	2017		2016		2015
Domestic	$	90,206	$	90,900	$	(21,880	)
Foreign	470,063		219,697		311,127
Total	$	560,269	$	310,597	$	289,247

Provision (Benefit) for Income Taxes

The income tax (benefit) provision attributable to income before income taxes is as follows (in thousands):



	Years Ended December 31,
	2017			2016		2015
Current
Federal	$	(19,856	)	$	60	$	(819	)
State	51			79		—
Foreign	1,674			1,633		2,044
	(18,131		)	1,772		1,225
Deferred
Federal	(309,423		)	5,081		3,505
State	(1,431		)	1,275		4,100
Foreign	—			—		(1,107		)
	(310,854		)	6,356		6,498
Total	$	(328,985	)	$	8,128	$	7,723

Income Taxes (Federal Statutory Corporate Tax Rate)

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



	Years Ended December 31,
	2017		2016		2015
Federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign tax credits, net of valuation allowance	(136.1	)%	(61.5	)%	(93.2	)%
Non-taxable foreign income	(20.1	)%	(20.7	)%	(23.1	)%
Foreign tax rate differential	(17.0	)%	(14.5	)%	(21.0	)%
Change in tax rate	(11.8	)%	—	%	—	%
Repatriation of foreign earnings	81.0	%	51.6	%	97.9	%
Valuation allowance, other	5.9	%	7.5	%	4.4	%
Other, net	4.4	%	5.2	%	2.7	%
Effective tax rate	(58.7	)%	2.6	%	2.7	%

Net Deferred Tax Assets and Liabilities

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



	December 31,
	2017			2016
Deferred tax assets—U.S.:
Foreign tax credit carryforwards	$	3,616,872		$	3,269,781
Receivables, inventories, accrued liabilities and other	19,356			37,391
Stock-based compensation	5,084			18,740
Pre-opening expenses	2,716			6,516
Other tax credit carryforwards	1,999			2,413
Intangibles and related other	770			21,404
Other	86			7,958
	3,646,883			3,364,203
Less: valuation allowance	(3,273,292		)	(3,201,406		)
	373,591			162,797
Deferred tax liabilities—U.S.:
Property and equipment	(106,979		)	(176,611		)
Redemption Note fair value	(13,139		)	(42,806		)
Prepaid insurance, maintenance and taxes	(10,391		)	(7,913		)
Other	(2,549		)	(2,028		)
	(133,058		)	(229,358		)
Deferred tax assets—Foreign:
Net operating loss carryforwards	74,345			50,258
Property and equipment	36,299			29,998
Pre-opening expenses	10,717			12,944
Other	1,493			2,946
	122,854			96,146
Less: valuation allowance	(117,175		)	(85,317		)
	5,679			10,829
Deferred tax liabilities—Foreign:
Property and equipment	(5,679		)	(10,829		)

Net deferred tax asset (liability)	$	240,533		$	(66,561	)

Reconciliation of Unrecognized Tax Benefits

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



	December 31,
	2017			2016			2015
Balance—beginning of year	$	90,523		$	88,314		$	88,884
Increases based on tax positions of the current year	8,520			5,930			3,051
Settlements with taxing authorities	—			—			(354		)
Lapses in statutes of limitations	(3,807		)	(3,721		)	(3,267		)
Balance—end of year	$	95,236		$	90,523		$	88,314

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Rental Receivable Under Operating Lease

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



Years Ending December 31,
2018	$	108,101
2019	114,577
2020	115,499
2021	53,902
2022	32,944
Thereafter	165,704
Total future minimum rentals	$	590,727

Future Minimum Rental Payable Under Non-Cancelable Operating Lease

December 31, 2017, the Company was obligated under non-cancelable leases to make future minimum lease payments as follows (in thousands):



Years Ending December 31,	Operating Leases		Capital Leases
2018	$	18,052	$	989
2019	17,449		989
2020	12,083		989
2021	11,294		989
2022	11,323		989
Thereafter	69,045		67,732
Total minimum lease payments	$	139,246	72,677
Less: Amount representing interest			(56,161		)
			$	16,516

Other Commitments

As of December 31, 2017, the Company was obligated under these arrangements, to make future minimum payments as follows (in thousands):



Years Ending December 31,
2018	$	127,943
2019	91,637
2020	50,438
2021	38,569
2022	6,537
Thereafter	4,000
Total minimum payments	$	319,124

- 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

Segment Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Operations by Segment

The following tables present the Company's segment information (in thousands):



	Years Ended December 31,
	2017			2016			2015
Net revenues
Macau Operations:
Wynn Macau	$	2,485,804		$	2,264,087		$	2,463,092
Wynn Palace	2,139,154			583,336			—
Total Macau Operations	4,624,958			2,847,423			2,463,092
Las Vegas Operations	1,681,410			1,618,874			1,612,791
Total	$	6,306,368		$	4,466,297		$	4,075,883
Adjusted Property EBITDA(1)
Macau Operations:
Wynn Macau	$	760,752		$	681,509		$	708,623
Wynn Palace	527,583			103,036			—
Total Macau Operations	1,288,335			784,545			708,623
Las Vegas Operations	522,397			474,782			477,166
Total	1,810,732			1,259,327			1,185,789
Other operating expenses
Pre-opening	26,692			154,717			77,623
Depreciation and amortization	552,368			404,730			322,629
Property charges and other	29,576			54,822			10,535
Corporate expenses and other	102,560			80,162			76,079
Stock-based compensation	43,971			43,218			38,286
Equity in income from unconsolidated affiliates	—			16			1,823
Total other operating expenses	755,167			737,665			526,975
Operating income	1,055,565			521,662			658,814
Other non-operating income and expenses
Interest income	31,193			13,536			7,229
Interest expense, net of amounts capitalized	(388,664		)	(289,365		)	(300,906		)
Change in interest rate swap fair value	(1,056		)	433			(5,300		)
Change in Redemption Note fair value	(59,700		)	65,043			52,041
Loss on extinguishment of debt	(55,360		)	—			(126,004		)
Equity in income from unconsolidated affiliates	—			16			1,823
Other	(21,709		)	(728		)	1,550
Total other non-operating income and expenses	(495,296		)	(211,065		)	(369,567		)
Income before income taxes	560,269			310,597			289,247
Benefit (provision) for income taxes	328,985			(8,128		)	(7,723		)
Net income	889,254			302,469			281,524
Less: Net income attributable to noncontrolling interests	(142,073		)	(60,494		)	(86,234		)
Net income attributable to Wynn Resorts, Limited	$	747,181		$	241,975		$	195,290


(1)

Capital Expenditures



	Years ended December 31,
	2017		2016		2015
Capital expenditures
Macau Operations:
Wynn Macau	$	43,510	$	43,548	$	68,744
Wynn Palace	107,405		838,271		1,566,090
Total Macau Operations	150,915		881,819		1,634,834
Las Vegas Operations	139,893		106,373		117,011
Wynn Boston Harbor	572,825		212,197		67,705
Corporate and other	71,841		25,554		101,690
	$	935,474	$	1,225,943	$	1,921,240

Assets and Capital Expenditures by Segment



	December 31,
	2017		2016		2015
Assets
Macau Operations:
Wynn Macau	$	1,271,544	$	1,161,670	$	1,331,312
Wynn Palace	4,017,494		4,317,458		3,439,041
Other Macau	174,769		28,927		570,959
Total Macau Operations	5,463,807		5,508,055		5,341,312
Las Vegas Operations	3,266,390		3,275,780		3,145,713
Wynn Boston Harbor	1,060,530		419,001		185,853
Corporate and other	2,891,012		2,750,721		1,786,281
	$	12,681,739	$	11,953,557	$	10,459,159

Long-lived Assets by Geographic Area



	December 31,
	2017		2016		2015
Long-lived assets
Macau	$	4,613,950	$	4,973,854	$	4,324,743
United States	4,083,555		3,442,842		3,337,356
	$	8,697,505	$	8,416,696	$	7,662,099

Organization - Additional Information (Detail)	12 Months Ended
Organization - Additional Information (Detail)	Dec. 31, 2017 ft² tower Facility Restaurant Outlet Room showroom
Wynn Macau
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of hotel \| tower	2
Number of rooms in hotel \| Room	1,008
Functional Area Square Footage	31,000
Number of restaurants \| Restaurant	8
Wynn Macau \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	273,000
Wynn Macau \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	59,000
Wynn Las Vegas
Organization Consolidation And Presentation Of Financial Statements Disclosure
Noncontrolling Interest, Ownership Percentage by Parent	100.00%
Number of hotel \| tower	2
Number of rooms in hotel \| Room	4,748
Wynn Las Vegas \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	192,000
Wynn Las Vegas \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	110,000
Wynn Las Vegas \| Food and Beverage
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of outlets \| Outlet	33
Wynn Las Vegas \| Meeting and Convention Space
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	290,000
Wynn Las Vegas \| Showrooms
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of showrooms \| showroom	2
Wynn Las Vegas \| Nightclubs and Beachclubs
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of facilities \| Facility	3
Wynn Palace
Organization Consolidation And Presentation Of Financial Statements Disclosure
Number of rooms in hotel \| Room	1,706
Number of restaurants \| Restaurant	11
Wynn Palace \| Casino
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	420,000
Wynn Palace \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	106,000
Wynn Palace \| Meeting and Convention Space
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	37,000
Retail Joint Venture [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure
Noncontrolling Interest, Ownership Percentage by Parent	50.10%
Functional Area Square Footage	88,000
Functional Area Square Footage Under Construction	74,000
Retail Joint Venture [Member] \| Retail
Organization Consolidation And Presentation Of Financial Statements Disclosure
Functional Area Square Footage	103,000

Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2016 USD ($) Agreement $ / shares	Dec. 31, 2015 USD ($) $ / shares	Dec. 31, 2016 HKD ($) Agreement
Summary of Significant Accounting Policies
Equity Method Investment, Ownership Percentage		50.00%
Cash equivalents		$ 450,200	$ 1,110,000
Bank deposits and cash on hand		$ 2,350,000	$ 1,340,000
Percentage of credit markers due from customers residing outside of the United States		81.70%	88.10%		88.10%
Capitalized interest		$ 18,400	$ 94,100	$ 53,300
Amortization of deferred financing costs		18,700	18,100	16,900
Gaming tax expenses		2,170,000	1,320,000	1,150,000
Total advertising costs		37,800	37,000	25,200
Interest Expense		388,664	289,365	300,906
Net Income (Loss) Attributable to Parent		$ 747,181	$ 241,975	$ 195,290
Earnings Per Share, Basic \| $ / shares		$ 7.32	$ 2.39	$ 1.93
Earnings Per Share, Diluted \| $ / shares		$ 7.28	$ 2.38	$ 1.92
Restatement Adjustment [Member]
Summary of Significant Accounting Policies
Interest Expense	$ 25,600
Net Income (Loss) Attributable to Parent	$ 18,500
Earnings Per Share, Basic \| $ / shares	$ 0.18
Pro Forma [Member]
Summary of Significant Accounting Policies
Interest Expense			$ 21,900
Net Income (Loss) Attributable to Parent			$ 15,800
Earnings Per Share, Basic \| $ / shares			$ 0.16
Earnings Per Share, Diluted \| $ / shares			$ 0.16
Capitalized Interest Adjustment 2015 [Member]
Summary of Significant Accounting Policies
Interest Costs Capitalized Adjustment	$ 21,900
Capitalized Interest Adjustment 2014 [Member]
Summary of Significant Accounting Policies
Interest Costs Capitalized Adjustment	$ 3,700
Wynn Macau Swap \| Two of the Swap Agreements
Summary of Significant Accounting Policies
Number of interest rate swap agreements \| Agreement			2		2
Interest rate swap fixed interest rate			0.73%		0.73%
Interest rate swap notional amount			$ 505,100		$ 3,950
Wynn Macau Swap \| Two of the Swap Agreements \| Minimum
Summary of Significant Accounting Policies
Interest rate swap fixed interest rate			2.23%		2.23%
Wynn Macau Swap \| Two of the Swap Agreements \| Maximum
Summary of Significant Accounting Policies
Interest rate swap fixed interest rate			2.98%		2.98%
Wynn Macau Swap \| Interest Rate Swap 3
Summary of Significant Accounting Policies
Interest rate swap fixed interest rate			0.6763%		0.6763%
Interest rate swap notional amount			$ 243,800
Wynn Macau Swap \| Interest Rate Swap 3 \| Minimum
Summary of Significant Accounting Policies
Interest rate swap fixed interest rate			2.18%		2.18%
Wynn Macau Swap \| Interest Rate Swap 3 \| Maximum
Summary of Significant Accounting Policies
Interest rate swap fixed interest rate			2.93%		2.93%

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Schedule of Receivables, net (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 254,728	$ 273,710
Less: allowance for doubtful accounts	(30,600)	(54,742)
Receivables, net	224,128	218,968
Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	173,664	211,557
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	22,487	21,897
Retail Leases and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, gross	$ 58,577	$ 40,256

Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Detail)	12 Months Ended
	Dec. 31, 2017
Buildings and Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Buildings and Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	45 years
Land Improvements [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Land Improvements [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	45 years
Leasehold Interest in Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	25 years
Airplanes
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Furniture, Fixtures and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture, Fixtures and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Summary of Estimated Retail Value of Promotional Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Product Information [Line Items]
Promotional Allowances	$ 461,878	$ 370,058	$ 342,738
Rooms
Product Information [Line Items]
Promotional Allowances	268,023	211,822	184,779
Food and Beverage
Product Information [Line Items]
Promotional Allowances	164,466	131,479	133,984
Entertainment, retail and other
Product Information [Line Items]
Promotional Allowances	$ 29,389	$ 26,757	$ 23,975

Summary of Significant Accounting Policies - Summary of Estimated Cost of Promotional Allowances (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Product Information [Line Items]
Costs of Promotional Allowances	$ 249,254	$ 193,959	$ 173,029
Rooms
Product Information [Line Items]
Costs of Promotional Allowances	83,884	63,448	51,775
Food and Beverage
Product Information [Line Items]
Costs of Promotional Allowances	143,892	113,341	106,840
Entertainment, retail and other
Product Information [Line Items]
Costs of Promotional Allowances	$ 21,478	$ 17,170	$ 14,414

Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Carried at Fair Value (Detail) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 450,200,000	$ 1,110,000,000
Available-for-sale securities		301,460,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	450,230,000	1,106,606,000
Available-for-sale securities	327,455,000	301,460,000
Restricted cash	2,160,000	192,823,000
Interest rate swaps		1,056,000
Redemption Note	1,879,058,000	1,819,359,000
Fair Value, Measurements, Recurring \| Quoted Market Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	11,200,000	3,868,000
Available-for-sale securities	0	0
Restricted cash	0	0
Interest rate swaps		0
Redemption Note	0	0
Fair Value, Measurements, Recurring \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	439,030,000	1,102,738,000
Available-for-sale securities	327,455,000	301,460,000
Restricted cash	2,160,000	192,823,000
Interest rate swaps		1,056,000
Redemption Note	1,879,058,000	1,819,359,000
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Available-for-sale securities	0	0
Restricted cash	0	0
Interest rate swaps		0
Redemption Note	$ 0	$ 0

Summary of Significant Accounting Policies - Schedule of Shares used in Calculation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income attributable to Wynn Resorts, Limited	$ 747,181	$ 241,975	$ 195,290
Weighted average common shares outstanding (used in calculation of basic earnings per share)	102,071	101,445	101,163
Weighted average common and common equivalent shares outstanding (used in calculation of diluted earnings per share)	102,598	101,855	101,671
Potential dilution from the assumed exercise of stock options and nonvested stock	527	410	508
Earnings Per Share, Basic	$ 7.32	$ 2.39	$ 1.93
Earnings Per Share, Diluted	$ 7.28	$ 2.38	$ 1.92
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	106	758	677

Summary of Significant Accounting Policies - Changes by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ (1,845)	$ 1,484
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(3,329)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(553)	2,213
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(2,766)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(1,292)	$ (729)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	$ (563)

Summary of Significant Accounting Policies Summary of Significant Accounting Polices - Recently Adopted Accounting Standards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ReductionofNetRevenuesandOperatingExpensesResultingfromNewAccountingPronouncement	$ 240.0	$ 130.0
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		$ (2.7)

- Definition

Amount of cumulative effect of the change in accounting principle or new accounting pronouncement on retained earnings or other components of equity or net assets in the statement of financial position as of the beginning of the earliest period presented.

+ References + Details

Retail Joint Venture Retail Joint Venture Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($)	Dec. 31, 2016 USD ($) ft²	Dec. 31, 2017 USD ($) ft²	Dec. 31, 2015 USD ($)
Variable Interest Entity [Line Items]
Net book value of assets and liabilities transferred to Retail Joint Venture		$ 31,800
Proceeds from Real Estate and Real Estate Joint Ventures		217,000
Due from Joint Ventures, Noncurrent		75,000
Total assets		11,953,557	$ 12,681,739	$ 10,459,159
Total liabilities		11,695,676	11,603,389
Prepaid Expenses and Other Current Assets [Member]
Variable Interest Entity [Line Items]
Due from Joint Ventures, Noncurrent			$ 75,000
Other Noncurrent Assets [Member]
Variable Interest Entity [Line Items]
Due from Joint Ventures, Noncurrent		$ 72,500
Retail Joint Venture [Member]
Variable Interest Entity [Line Items]
Functional Area Square Footage \| ft²			88,000
Functional Area Square Footage Under Construction \| ft²			74,000
Noncontrolling Interest, Ownership Percentage by Parent			50.10%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49.90%
Noncontrolling Interest in Joint Ventures		$ 292,000
Total assets		33,600	$ 59,700
Total liabilities		$ 2,100	$ 900
Retail \| Wynn Retail [Member]
Variable Interest Entity [Line Items]
Functional Area Square Footage \| ft²		88,000
Retail \| Retail Joint Venture [Member]
Variable Interest Entity [Line Items]
Functional Area Square Footage \| ft²			103,000
Scenario, Forecast [Member]
Variable Interest Entity [Line Items]
Proceeds from Real Estate and Real Estate Joint Ventures	$ 180,000
Scenario, Forecast [Member] \| Retail Joint Venture [Member]
Variable Interest Entity [Line Items]
Contribution of Property	$ 25,400

Investment Securities - Schedule of Investment Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities
Other than Temporary Impairment Losses, Investments	$ 0
Available-for-sale securities, Amortized cost		$ 302,189
Available-for-sale securities, Gross unrealized gains		24
Available-for-sale securities, Gross unrealized losses		(753)
Available-for-sale securities		301,460
Domestic and Foreign Corporate Bonds
Schedule of Available-for-sale Securities
Available-for-sale securities, Amortized cost	328,747	245,425
Available-for-sale securities, Gross unrealized gains	6	19
Available-for-sale securities, Gross unrealized losses	(1,298)	(720)
Available-for-sale securities	$ 327,455	244,724
Commercial Paper
Schedule of Available-for-sale Securities
Available-for-sale securities, Amortized cost		56,764
Available-for-sale securities, Gross unrealized gains		5
Available-for-sale securities, Gross unrealized losses		(33)
Available-for-sale securities		$ 56,736

Investment Securities - Investments by Contractual Maturity (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Fair value
Due in one year or less	$ 166,773
Due after one year through two years	118,280
Due after two year through three years	42,402
Fair value	$ 327,455

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation	$ 547,900	$ 398,200	$ 317,800
Land and improvements	7,582,611	7,623,069
Buildings and improvements	853,738	834,420
Leasehold interest in land	2,211,974	2,181,515
Airplanes	314,068	316,516
Flight Equipment, Gross	158,840	179,730
Construction in progress	1,016,207	299,686
Property and equipment, gross	12,137,438	11,434,936
Less: accumulated depreciation	(3,638,682)	(3,175,305)
Property and equipment, net	$ 8,498,756	$ 8,259,631

Property and Equipment, net Property and Equipment, net - Narrative (Details) - Subsequent Event $ in Millions	2 Months Ended
	Mar. 01, 2018 USD ($) a
Land [Member]
Property, Plant and Equipment [Line Items]
Payments to Acquire Land \| $	$ 336.2
Area Of Land, Acquired	38
Assets Leased to Others [Member]
Property, Plant and Equipment [Line Items]
Area Of Land, Acquired	16

Intangible Assets, net - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($)
Macau Gaming Concession
Schedule Of Finite And Indefinite Lived Intangible Assets
Intangible assets, useful life, years	20 years
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
Massachusetts Gaming License [Member]
Schedule Of Finite And Indefinite Lived Intangible Assets
Intangible assets, useful life, years	15 years

Intangible Assets, net - Schedule of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets
Finite-lived intangible assets, net	$ 115,918	$ 105,801
Indefinite-lived intangible assets	7,787	7,787
Total intangible assets, net	123,705	113,588
Macau Gaming Concession
Intangible Assets
Finite-lived intangible assets, gross	42,300	42,300
Less: accumulated amortization	(31,582)	(29,199)
Finite-lived intangible assets, net	10,718	13,101
Massachusetts Gaming License
Intangible Assets
Finite-lived intangible assets, gross	105,200	92,700
Less: accumulated amortization	0	0
Finite-lived intangible assets, net	105,200	92,700
Trademarks
Intangible Assets
Indefinite-lived intangible assets	1,387	1,387
Water Rights
Intangible Assets
Indefinite-lived intangible assets	$ 6,400	$ 6,400

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 20, 2017	Sep. 11, 2017	Dec. 31, 2016	Feb. 18, 2015	May 22, 2013
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 9,785,241			$ 10,323,713
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	(99,231)			(81,277)
Fair Value Adjustment of Debt	(57,384)			(117,084)
Long-term debt total	9,628,626			10,125,352
Current portion of long-term debt	(62,690)			0
Non current portion of long-term debt	9,565,936			10,125,352
Wynn Macau \| Secured Debt \| Senior Term Loan Facility, Due September 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	2,298,798			2,306,773
Wynn Macau \| Revolving Credit Facility \| Senior Revolving Credit Facility, Due September 2020
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0			340,846
Wynn Macau, Limited \| WML Finance Credit Facility
Debt Instrument [Line Items]
Debt instrument, interest rate	1.50%
Wynn Macau, Limited \| Revolving Credit Facility \| WML Finance Credit Facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0			189,651
Wynn Macau, Limited \| Senior Notes \| 4 7/8% Senior Notes, due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	4.875%	4.875%
Long-term Debt, Gross	$ 600,000			0
Wynn Macau, Limited \| Senior Notes \| 5 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%	5.50%
Long-term Debt, Gross	$ 750,000			0
Wynn Macau, Limited \| Senior Notes \| 5 1/4% Senior Notes, due 2021
Debt Instrument [Line Items]
Debt instrument, interest rate	5.25%		5250.00%
Long-term Debt, Gross	$ 0			1,350,000
Wynn America \| Secured Debt \| Senior Term Loan Facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,000,000			1,000,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Debt Instrument [Line Items]
Debt instrument, interest rate	4.25%
Long-term Debt, Gross	$ 500,000			500,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 5 1/2% Senior Notes, Due March 1, 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%
Long-term Debt, Gross	$ 1,800,000			1,800,000
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| 5.14% Senior Notes, Due May 15, 2027 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	5.25%
Long-term Debt, Gross	$ 900,000			0
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| Senior Notes \| Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,936,443			1,936,443
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Debt Instrument [Line Items]
Debt instrument, interest rate						5.25%
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument [Line Items]
Debt instrument, interest rate	5.375%				5.50%
Long-term Debt, Gross	$ 0			$ 900,000

Long-Term Debt Long-Term Debt - Wynn Macau Credit Facilities (Details) $ in Thousands, MOP$ in Millions		1 Months Ended	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2015 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 MOP (MOP$)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2017 MOP (MOP$)	Sep. 30, 2016 USD ($)
Line of Credit Facility [Line Items]
Loss on extinguishment of debt			$ 55,360		$ 0	$ 126,004
Wynn Macau
Line of Credit Facility [Line Items]
Availability of credit facility			$ 0
Senior Term Loan Facility, Due September 2021 \| Wynn Macau
Line of Credit Facility [Line Items]
Consolidated leverage ratio, minimum			4.5	4.5
Consolidated leverage ratio excess cash flow percentage			25.00%	25.00%
Interest coverage ratio, minimum			2.00	2.00
Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity								$ 750,000
Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Final payment percent, principal	50.00%
Interest rate during period on debt			3.16%	3.16%	2.76%
Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Secured Debt \| Secured Debt
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity								2,300,000
Conditional increase limit on line of credit								$ 1,000,000
Loss on extinguishment of debt		$ 2,100
Minimum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage			0.52%	0.52%
Minimum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Periodic principal payment percent	2.50%
Maximum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau
Line of Credit Facility [Line Items]
Debt covenant, maximum leverage ratio			5.25				5.25
Maximum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage			0.79%	0.79%
Maximum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Periodic principal payment percent	7.33%
LIBOR or HIBOR \| Minimum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.50%	1.50%
LIBOR or HIBOR \| Maximum \| Senior Term Loan Facility, Due September 2021 \| Wynn Macau \| Term Loans
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.25%	2.25%
Performance Guarantee \| Bank Guarantee Reimbursement Agreement \| Wynn Macau
Line of Credit Facility [Line Items]
Bank guarantee carrying amount			$ 37,300				MOP$ 300.0
Maximum guarantee by Macau government			$ 300	MOP$ 2.3

Long-Term Debt Long-Term Debt - WML Finance Revolving Credit Facility (Details) - Wynn Macau, Limited - WML Finance Credit Facility $ in Millions	Dec. 31, 2017 USD ($)	Dec. 31, 2017 HKD ($)
Line of Credit Facility [Line Items]
Debt instrument, interest rate	1.50%	1.50%
Margin owed for cash collateral	0.40%	0.40%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Availability of credit facility	$ 495,200,000	$ 3,870
Line of credit	$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Long-Term Debt Long-Term Debt - 4 7/8% Seniore Notes Due 2024 and 5 1/2% Senior Notes due 2027 (Details) - Wynn Macau, Limited - Senior Notes - USD ($)	Sep. 20, 2017	Dec. 31, 2017
Redemption period one
Debt Instrument [Line Items]
Redemption percentage, redeemable from cash proceeds from equity offerings	35.00%
Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Change of control
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	101.00%
Change in tax laws or tax positions
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Material adverse effect on the financial condition due to licenses, permits and concessions
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
4 7/8% Senior Notes, due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	4.875%	4.875%
Debt instrument, aggregate principal amount	$ 600,000,000
4 7/8% Senior Notes, due 2024 \| Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	104.875%
4 7/8% Senior Notes, due 2024 \| Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	102.438%
5 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%	5.50%
Debt instrument, aggregate principal amount	$ 750,000,000
5 1/2% Senior Notes, due 2027 \| Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	105.50%
5 1/2% Senior Notes, due 2027 \| Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	102.75%

Long-Term Debt Long-Term Debt - 5 1/4% Senior Notes due 2021 (Details) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	Oct. 20, 2017	Sep. 11, 2017	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 55,360	$ 0	$ 126,004
Wynn Macau, Limited \| Senior Notes \| 5 1/4% Senior Notes, due 2021
Debt Instrument [Line Items]
Debt instrument, interest rate		5250.00%	5.25%	5.25%
Notes Under Tender Offer Face Amount Redeemed		$ 946,400
Extinguishment of debt, amount premium	$ 10,600	$ 27,200
Senior Notes, Current							$ 403,600
Loss on extinguishment of debt			$ 33,100

Long-Term Debt Long-Term Debt - Wynn America Credit Facilities (Details) - USD ($)		12 Months Ended
	Apr. 24, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 55,360,000	$ 0	$ 126,004,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility II
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 125,000,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility I
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	875,000,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility I, Due November 2020
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	69,600,000.0
Periodic payment	1,700,000
Balloon payment due at maturity	52,200,000
Wynn America \| Secured Debt \| WA Senior Term Loan Facility I, Due December 2021
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	805,400,000.0
Periodic payment	20,100,000
Annual principal payment	664,500,000
Wynn America \| Secured Debt \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Interest rate during period on debt		3.32%	2.52%
Fee required for unborrowed amounts, percentage per annum		0.30%
Maximum consolidated senior secured net leverage ratio		2.75
Minimum consolidated EBITDA		$ 200,000,000
Revolving Credit Facility \| Wynn America \| WA Senior Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	375,000,000
Availability of credit facility					$ 357,300,000
Letter of credit outstanding					$ 17,700,000
Revolving Credit Facility \| Wynn America \| WA Senior Revolving Credit Facility, Due November 2019
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	42,000,000
Revolving Credit Facility \| Wynn America \| WA Senior Revolving Credit Facility Due December 2021
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	333,000,000
Wynn America Credit Facilities \| Wynn America \| Secured Debt
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 1,500,000
Base Rate \| Wynn America \| Secured Debt \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
LIBOR \| Wynn America \| Secured Debt \| Wynn America Credit Facilities
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%

Long-Term Debt Long-Term Debt - 4 1/4% Senior Notes due 2023 (Details) - Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp - First Mortgage Notes - 4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	May 22, 2013
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 500
Debt instrument, interest rate		5.25%
Debt Instrument, Maturity Date	May 30, 2023
Debt redemption date	Feb. 28, 2023
Debt redemption price as percentage of principal	100.00%
Percentage of principal repayment on the event of change of control	101.00%
Payment default classification period for interest payment	30 days

Long-Term Debt Long-Term Debt - 5 1/2% Senior Notes due 2025 (Details) - USD ($) $ in Billions		12 Months Ended
	Feb. 18, 2015	Dec. 31, 2017
5 1/2% Senior Notes, Due March 1, 2025 \| Maximum
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%	100.00%
Percentage of principal repayment on the event of change of control	101.00%
Payment default classification period for interest payment		30 days
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| First Mortgage Notes \| 5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%	5.375%
Debt instrument, aggregate principal amount	$ 1.8

Long-Term Debt Long-Term Debt - 5 1/4% Senior Notes, Due 2027 (Details) - Senior Notes - USD ($)	May 11, 2017	Dec. 31, 2017
Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 5.14% Senior Notes, Due May 15, 2027 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		5.25%
Subsidiary Issuer \| 5.14% Senior Notes, Due May 15, 2027 [Member]
Debt Instrument [Line Items]
Debt covenant, percentage of total assets	15.00%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 5.14% Senior Notes, Due May 15, 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.25%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 5.14% Senior Notes, Due May 15, 2027 [Member]
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount	$ 900,000,000
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 5.14% Senior Notes, Due May 15, 2027 [Member] \| Redemption period one
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 5.14% Senior Notes, Due May 15, 2027 [Member] \| Redemption period two
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	100.00%
Subsidiary Issuer \| Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp \| 5.14% Senior Notes, Due May 15, 2027 [Member] \| Redemption period three
Debt Instrument [Line Items]
Debt redemption price as percentage of principal	101.00%

Long-Term Debt Long-Term Debt - 5 3/8% First Mortgage Notes due 2022 (Details) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	Jun. 12, 2017	May 04, 2017	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 55,360	$ 0	$ 126,004
5 3/8% Wynn Las Vegas First Mortgage Notes, Due March 15, 2022 \| First Mortgage Notes
Debt Instrument [Line Items]
Debt instrument, interest rate		5.375%
Extinguishment of Debt, Amount	$ 402,000	$ 498,000
Extinguishment of debt, amount premium	$ 10,800	$ 14,600
Loss on extinguishment of debt			$ 20,800

Long-Term Debt Long-Term Debt - First Mortgage Notes due 2020 (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	4 Months Ended	12 Months Ended
	Feb. 28, 2015	Mar. 31, 2015	Aug. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 55,360	$ 0	$ 126,004
7 3/4% First Mortgage Notes, Due August 15, 2020 \| First Mortgage Notes
Debt Instrument [Line Items]
Extinguishment of debt, amount premium	$ 98,900		$ 5,900
Loss on extinguishment of debt		$ 123,900

Long-Term Debt Long-Term Debt - Redemption Price Promissory Note (Details) - USD ($)		1 Months Ended	12 Months Ended
	Feb. 18, 2012	Feb. 18, 2012	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Common stock redeemed, shares		24,549,222
Aruze USA, Inc.
Debt Instrument [Line Items]
Common stock redeemed, shares	24,549,222
Debt instrument, aggregate principal amount	$ 1,940,000,000.00	$ 1,940,000,000.00
Debt instrument, interest rate	2.00%	2.00%
Aruze USA, Inc. \| Promissory Note \| Redemption Price Promissory Note With Former Stockholder and Related Party, Due February 18, 2022; Interest At 2%
Debt Instrument [Line Items]
Common stock redeemed, shares		24,549,222
Debt instrument, aggregate principal amount	$ 1,940,000,000	$ 1,940,000,000
Debt Instrument, Maturity Date			Feb. 18, 2022
Debt instrument, interest rate			2.00%
Redemption Note			$ 1,880,000,000	$ 1,820,000,000

Long-Term Debt Long-Term Debt - Cross Claim and Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Fair value of debt instrument excluding the Redemption Note	$ 7,950	$ 8,330
Long-term debt excluding the Redemption Note	$ 7,850	$ 8,390
2023 indenture
Debt Instrument [Line Items]
Final payment percent, principal	101.00%

Long-Term Debt - Scheduled Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2018	$ 62,690
2019	282,816
2020	616,879
2021	2,336,413
2022	1,936,443
Thereafter	4,550,000
Long-term Debt, Gross	9,785,241	$ 10,323,713
Debt Instrument, Unamortized Discount (Premium), Net	(99,231)
Fair Value Adjustment of Debt	(57,384)	(117,084)
Long-term debt total	$ 9,628,626	$ 10,125,352

Related Party Transactions - Additional Information (Detail)				1 Months Ended	9 Months Ended	12 Months Ended
	Dec. 01, 2016 USD ($)	Feb. 25, 2015 USD ($)	Nov. 07, 2013 USD ($)	Feb. 18, 2012 shares	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($) a	Dec. 31, 2016 USD ($)
Related Party Transaction
Common shares redeemed and canceled \| shares				24,549,222
Annual credit for personal use aircraft					$ 250,000
Amount due to officers and directors						$ 400,000	$ 300,000
Consulting agreement							$ 600,000
Chief Operating Officer
Related Party Transaction
Purchase of home for director						$ 10,000,000
Number of percentage points used to determine discount on home purchase						10.00%
Consideration in event of employee agreement termination						$ 1.00
Chief Executive Officer
Related Party Transaction
Area of land (in acres) \| a						2
Term of notice required to exercise option						30 days
Chief Executive Officer \| Lease agreement [Member]
Related Party Transaction
Rental value	$ 305,680	$ 559,295	$ 525,000

Stockholder's Equity - Additional Information (Detail) - USD ($)	1 Months Ended											3 Months Ended	12 Months Ended
	Nov. 30, 2016	Aug. 30, 2016	May 30, 2016	Feb. 28, 2016	Nov. 30, 2015	Aug. 30, 2015	May 30, 2015	Aug. 30, 2014	May 31, 2014	Feb. 28, 2014	Feb. 18, 2012	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity, Class of Treasury Stock
Common stock, shares authorized													400,000,000	400,000,000
Common stock, par value													$ 0.01	$ 0.01
Common stock, shares outstanding													103,005,866	101,799,471
Net cost for common stock purchased													$ 17,771,000	$ 14,017,000	$ 7,199,000
Stock repurchases, shares													148,413	198,942	50,869
Dividend paid (per share)	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 1.25	$ 1.25	$ 1.25		$ 1.50
Cash dividends declared													$ 204,515,000	$ 202,200,000	$ 304,400,000
Preferred stock, shares authorized													40,000,000	40,000,000
Preferred stock, par value													$ 0.01	$ 0.01
Preferred stock, shares issued													0	0
Common shares redeemed and canceled											24,549,222
Equity Repurchase Program
Equity, Class of Treasury Stock
Authorized amount under repurchase program													$ 1,000,000,000.0
Stock repurchases, shares													0	0	0

Noncontrolling Interests - Additional Information (Detail) $ / shares in Units, $ in Thousands							1 Months Ended										3 Months Ended				12 Months Ended
	Sep. 15, 2017 USD ($)	Sep. 15, 2017 $ / shares	Jun. 20, 2017 USD ($)	Jun. 20, 2017 $ / shares	Apr. 27, 2016 USD ($)	Apr. 27, 2016 $ / shares	Nov. 30, 2016 $ / shares	Aug. 30, 2016 $ / shares	May 30, 2016 $ / shares	Feb. 28, 2016 $ / shares	Nov. 30, 2015 $ / shares	Aug. 30, 2015 $ / shares	May 30, 2015 $ / shares	Aug. 30, 2014 $ / shares	May 31, 2014 $ / shares	Feb. 28, 2014 $ / shares	Mar. 31, 2018 USD ($)	Mar. 31, 2016 USD ($)	Mar. 31, 2016 $ / shares	Mar. 31, 2015 $ / shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Noncontrolling Interest
Dividend paid (per share) \| $ / shares							$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 1.25	$ 1.25	$ 1.25				$ 1.50
Cash dividends declared																					$ 204,515	$ 202,200	$ 304,400
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders																					$ 11,436	33
Proceeds from Real Estate and Real Estate Joint Ventures																						$ 217,000
Wynn Macau, Limited
Noncontrolling Interest
Noncontrolling Interest, Ownership Percentage by Parent																					72.00%
Dividend paid (per share) \| $ / shares						$ 0.60													$ 1.05
Cash dividends declared					$ 401,900													$ 702,600
Cash Dividends Paid to Parent Company					290,100													507,100
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders					$ 111,800													$ 195,500
Retail Joint Venture [Member]
Noncontrolling Interest
Noncontrolling Interest, Ownership Percentage by Parent																					50.10%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners																						49.90%
Noncontrolling Interest in Joint Ventures																						$ 292,000
Noncontrolling Interest, Increase from Sale of Parent Equity Interest																					$ 13,238	$ 15,890
Scenario, Forecast [Member]
Noncontrolling Interest
Proceeds from Real Estate and Real Estate Joint Ventures																	$ 180,000
Subsidiaries [Member] \| Wynn Macau, Limited
Noncontrolling Interest
Dividend paid (per share) \| $ / shares		$ 0.21		$ 0.42
Cash dividends declared	$ 139,400		$ 279,900
Wynn Macau, Limited
Noncontrolling Interest
Cash Dividends Paid to Parent Company	100,600		202,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ 38,800		$ 77,900

Benefit Plans - Defined Contribution Plan (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
401(k) Plan
Defined Contribution Plan Disclosure
Company's matching contribution percentage	50.00%
Defined Contribution Plan, Cost Recognized	$ 6,100,000	$ 6,100,000	$ 3,200,000
United States Pension Plan of US Entity
Defined Contribution Plan Disclosure
Defined Contribution Plan Maximum Annual Employer Matching Contribution Per Employee	$ 0	0	1,200
Maximum \| 401(k) Plan
Defined Contribution Plan Disclosure
Employee contributions, percentage	6.00%
Wynn Macau \| 401(k) Plan
Defined Contribution Plan Disclosure
Defined Contribution Plan, Cost Recognized	$ 15,800,000	$ 12,900,000	$ 11,200,000
Employee contribution percentage	5.00%
Company's matching contribution percentage	10.00%
Vesting period	10 years

Benefit Plans - Pension Plan (Detail) - Southern Nevada Culinary and Bartenders Pension Plan - Multi-employer Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure
Multi-employer plan, period contributions	$ 11.5	$ 9.3	$ 9.4
Company's matching contribution percentage		5.00%

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	May 16, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense		$ 43,971	$ 43,722	$ 38,475
Stock based compensation costs		44,051	43,814	38,825
Stock-based compensation capitalized into construction		80	92	350
Tax benefit from compensation expense		10,800	10,400	8,300
Tax benefits (loss) realized from option exercises		$ 25,400	6,700	$ 6,700
WRL 2002 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance		12,750,000
Share Award Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance					50,000,000
Aggregate amount of common stock available for grant		34,838,793
Unvested awards compensation not yet recognized		$ 11,700
Unvested awards compensation costs period of recognition		2 years 6 months 10 days
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance						4,409,390
Expiration period		10 years
Aggregate amount of common stock available for grant		3,179,113
Unrecognized compensation, stock options		$ 3,600
Unrecognized compensation cost, weighted average period		1 year 3 months 14 days
Unvested awards compensation not yet recognized		$ 37,400
Unvested awards compensation costs period of recognition		3 years 9 months 7 days
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for issuance		518,750,000
Aggregate amount of common stock available for grant		511,738,000
Unrecognized compensation, stock options		$ 1,400
Unrecognized compensation cost, weighted average period		1 year 7 months 6 days
Management
Share-based Compensation Arrangement by Share-based Payment Award
Stock based compensation costs		$ 23,700
Value of shares issued and vested during period		$ 21,900
Accounts Payable and Accrued Liabilities \| Management
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense			$ 19,200
Subsequent Event \| Management
Share-based Compensation Arrangement by Share-based Payment Award
Value of shares issued and vested during period	$ 1,800

Stock-Based Compensation - Schedule of Option Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Options
Fully vested and expected to vest as of December 31, 2017				644,460
Weighted Average Exercise Price
Fully vested and expected to vest as of December 31, 2017				$ 73.93
Weighted Average Remaining Contractual Term
Fully vested and expected to vest as of December 31, 2017	2 years 6 months 14 days
Aggregate Intrinsic Value
Fully vested and expected to vest as of December 31, 2017				$ 61,846,602
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Options
Outstanding as of January 1, 2017	644,460	1,306,260		644,460
Granted	0
Exercised	(661,800)
Forfeited or expired	0
Outstanding as of December 31, 2017	644,460	1,306,260
Exercisable as of December 31, 2017				458,010
Weighted Average Exercise Price
Outstanding as of January 1, 2017	$ 83.56
Granted	0.00
Exercised	92.94
Forfeited or expired	0.00
Outstanding as of December 31, 2017	$ 73.93	$ 83.56
Exercisable as of December 31, 2017				$ 80.49
Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2017	2 years 6 months 14 days
Exercisable as of December 31, 2017	2 years 9 months 29 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2017				$ 61,846,602
Exercisable as of December 31, 2017				$ 40,980,802
Stock Option Exercises from the Plans [Abstract]
Weighted average grant date fair value	$ 0.00	$ 34.90	$ 31.83
Intrinsic value of stock options exercised	$ 29,716,000	$ 3,657,000	$ 1,684,000
Cash received from the exercise of stock options	$ 61,506,000	$ 3,487,000	$ 3,026,000
Share Option Plan
Options
Outstanding as of January 1, 2017	7,006,000	6,290,000		7,006,000
Granted	1,208,000
Exercised	(492,000)
Outstanding as of December 31, 2017	7,006,000	6,290,000
Fully vested and expected to vest as of December 31, 2017				7,006,000
Exercisable as of December 31, 2017				3,074,000
Weighted Average Exercise Price
Outstanding as of January 1, 2017	$ 2.28
Granted	2.26
Exercised	1.43
Outstanding as of December 31, 2017	$ 2.32	$ 2.28
Fully vested and expected to vest as of December 31, 2017				$ 2.32
Exercisable as of December 31, 2017				$ 2.66
Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2017	6 years 10 months 24 days
Fully vested and expected to vest as of December 31, 2017	6 years 10 months 24 days
Exercisable as of December 31, 2017	5 years 3 months 18 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2017				$ 6,539,606
Fully vested and expected to vest as of December 31, 2017				6,539,606
Exercisable as of December 31, 2017				$ 1,932,866
Stock Option Exercises from the Plans [Abstract]
Weighted average grant date fair value	$ 0.56	$ 0.31	$ 0.47
Intrinsic value of stock options exercised	$ 369,000	$ 0	$ 0
Cash received from the exercise of stock options	$ 703,000	$ 0	$ 0

Stock-Based Compensation - Schedule of Nonvested Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Shares:
Nonvested, beginning of period	151,756
Granted	706,341
Vested	(384,180)
Forfeited	(13,333)
Nonvested, end of period	460,584	151,756
Weighted Average Grant Date Fair Value:
Nonvested, beginning of period	$ 112.14
Granted	109.28	$ 63.56	$ 145.92
Vested	120.60
Forfeited	197.94
Nonvested, end of period	98.21	112.14
Weighted average grant date fair value	$ 109.28	$ 63.56	$ 145.92
Fair value of shares vested	$ 45,801	$ 39,380	$ 22,877
Share Award Plan
Shares:
Nonvested, beginning of period	14,009,134
Granted	2,726,097
Vested	(3,318,500)
Forfeited	(1,574,024)
Nonvested, end of period	11,842,707	14,009,134
Weighted Average Grant Date Fair Value:
Nonvested, beginning of period	$ 2.61
Granted	2.22	$ 1.38	$ 1.95
Vested	3.79
Forfeited	1.98
Nonvested, end of period	2.24	2.61
Weighted average grant date fair value	$ 2.22	$ 1.38	$ 1.95
Fair value of shares vested	$ 6,884	$ 0	$ 0

Stock-Based Compensation - Schedule of Allocated Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	$ 43,971	$ 43,722	$ 38,475
Stock-based compensation capitalized into construction	80	92	350
Stock based compensation costs	44,051	43,814	38,825
Casino
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	6,954	11,304	9,858
Rooms
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	655	374	318
Food and Beverage
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	1,466	1,060	1,050
Entertainment, retail and other
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	147	82	82
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	34,749	30,398	26,978
Pre-Open Costs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost
Stock-based compensation expense	$ 0	$ 504	$ 189

Stock-Based Compensation - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Wynn Resorts Limited 2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	0.00%	2.00%	3.60%
Expected volatility	0.00%	45.40%	44.10%
Risk-free interest rate	0.00%	1.10%	1.30%
Expected term (years)	0 years	6 years	6 years
Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	5.70%	6.30%	5.00%
Expected volatility	41.50%	42.60%	41.30%
Risk-free interest rate	1.10%	1.00%	1.30%
Expected term (years)	6 years 6 months	6 years 6 months	6 years 6 months

Income Taxes - Additional Information (Detail) $ / shares in Units, MOP$ in Millions		12 Months Ended
	Nov. 30, 2010	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($) $ / shares	Dec. 31, 2017 MOP (MOP$)	Jul. 31, 2011 USD ($)	Jul. 31, 2011 MOP (MOP$)
Income Taxes
Complementary tax rate	12.00%
Amount of complementary tax exemption		$ 63,000,000	$ 27,300,000	$ 41,600,000
Amount of complementary tax exemption per share \| $ / shares		$ 0.61	$ 0.27	$ 0.41
Annual complementary tax to be paid		$ 1,600,000	$ 1,600,000	$ 1,900,000	MOP$ 12.8	$ 1,900,000	MOP$ 15.5
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Provisional Income Tax Expense (Benefit)		$ 339,900,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%	35.00%	35.00%
Recognized foreign tax credit tax benefit net of valuation allowance		$ 746,600,000	$ 170,500,000	$ 264,100,000
Increase in valuation allowance for deferred tax assets		103,700,000	44,200,000
Tax benefits (loss) realized		2,600,000	800,000	400,000
Foreign tax credit carryforwards		3,620,000,000
U.S. and foreign uncertain tax positions that increase NOL and foreign tax credit carryforward deferred tax assets		95,200,000	90,300,000	88,300,000
Uncertain tax positions, noncurrent		200,000	0	0
Unrecognized tax benefits that would impact the effective tax rate if recognized		26,900,000	22,600,000	20,900,000
Recognized interest and penalties		900,000	900,000	0
Decrease in unrecognized tax benefits due to expiration of the statute of limitations		3,807,000	3,721,000	3,267,000
Maximum
Income Taxes
Unrecognized tax benefit increase resulting in tax settlements		4,000,000
Tax Credit Carryforward Expiry In 2018
Income Taxes
Foreign tax credit carryforwards		590,600,000
Tax Credit Carryforward Expiry In 2019
Income Taxes
Foreign tax credit carryforwards		110,900,000
Tax Credit Carryforward Expiry In 2020
Income Taxes
Foreign tax credit carryforwards		530,400,000
Tax Credit Carryforward Expiry In 2021
Income Taxes
Foreign tax credit carryforwards		540,300,000
Tax Credit Carryforward Expiry In 2023
Income Taxes
Foreign tax credit carryforwards		756,000,000
Tax Credit Carryforward Expiry In 2024
Income Taxes
Foreign tax credit carryforwards		710,700,000
Tax Credit Carryforward, Expires at 2025 [member] [Member]
Income Taxes
Foreign tax credit carryforwards		47,200,000
Tax Credit Carryforward, Expires at 2027 [Member]
Income Taxes
Foreign tax credit carryforwards		330,800,000
Foreign Tax Credit
Income Taxes
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Provisional Income Tax Expense (Benefit)		273,900,000
Valuation allowance		(3,270,000,000)	(3,200,000,000)
Other Deferred Tax Asset
Income Taxes
Valuation allowance		(3,500,000)	(4,400,000)
Wynn Macau
Income Taxes
Decrease in unrecognized tax benefits due to expiration of the statute of limitations		$ 3,800,000	3,700,000	3,600,000
Foreign
Income Taxes
Gaming tax		35.00%
Tax loss carryforward		$ 319,100,000	317,300,000	$ 124,400,000
Valuation allowance		$ (117,175,000)	(85,317,000)
U.S.
Income Taxes
Tax credit of "net" foreign source income		35.00%
Foreign tax credit carryforwards		$ 3,616,872,000	3,269,781,000
Tax loss carryforward		0
Valuation allowance		$ (3,273,292,000)	$ (3,201,406,000)
Retail Joint Venture [Member]
Income Taxes
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			49.90%

Income Taxes - Summary of Consolidated Income (Loss) Before Taxes For Domestic and Foreign Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Domestic	$ 90,206	$ 90,900	$ (21,880)
Foreign	470,063	219,697	311,127
Total	$ 560,269	$ 310,597	$ 289,247

Income Taxes - Summary of (Benefit) Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Federal, Current	$ (19,856)	$ 60	$ (819)
Current State and Local Tax Expense (Benefit)	51	79	0
Foreign, Current	1,674	1,633	2,044
Current, Total	(18,131)	1,772	1,225
Federal, Deferred	(309,423)	5,081	3,505
State, Deferred	(1,431)	1,275	4,100
Foreign, Deferred	0	0	(1,107)
Deferred, Total	(310,854)	6,356	6,498
Income tax benefit (provision), total	$ (328,985)	$ 8,128	$ 7,723

Income Taxes - Summary of Income Taxes (Federal Statutory Corporate Tax Rate) (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Federal statutory rate	35.00%	35.00%	35.00%
Foreign tax credits, net of valuation allowance	(136.10%)	(61.50%)	(93.20%)
Non-taxable foreign income	(20.10%)	(20.70%)	(23.10%)
Foreign tax rate differential	(17.00%)	(14.50%)	(21.00%)
Change in tax rate	(11.80%)	0.00%	0.00%
Repatriation of foreign earnings	81.00%	51.60%	97.90%
Valuation allowance, other	5.90%	7.50%	4.40%
Other, net	4.40%	5.20%	2.70%
Effective tax rate	(58.70%)	2.60%	2.70%

Income Taxes - Summary of Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred Tax Assets And Liabilities
Foreign tax credit carryforwards	$ 3,620,000
Deferred Tax Liabilities, Net	240,533	$ 66,561
Deferred Tax Liabilities, Gross, Noncurrent	(133,058)	(229,358)
U.S.
Deferred Tax Assets And Liabilities
Foreign tax credit carryforwards	3,616,872	3,269,781
Receivables, inventories, accrued liabilities and other	19,356	37,391
Stock-based compensation	5,084	18,740
Pre-opening expenses	2,716	6,516
Other tax credit carryforwards	1,999	2,413
Intangibles and related other	770	21,404
Other	86	7,958
Deferred Tax Assets, Gross	3,646,883	3,364,203
Deferred Tax Assets, Valuation Allowance	3,273,292	3,201,406
Deferred tax assets, net, total	373,591	162,797
Deferred Tax Liabilities, Prepaid Expenses	(10,391)	(7,913)
Property and equipment	(106,979)	(176,611)
Deferred Tax Liability, Redemption Note Fair Value	(13,139)	(42,806)
Deferred Tax Liabilities, Other	(2,549)	(2,028)
Foreign
Deferred Tax Assets And Liabilities
Pre-opening expenses	10,717	12,944
Other	1,493	2,946
Deferred Tax Assets, Gross	122,854	96,146
Net operating loss carryforwards	74,345	50,258
Property and equipment	36,299	29,998
Deferred Tax Assets, Valuation Allowance	117,175	85,317
Property and equipment	(5,679)	(10,829)
Deferred tax assets, net, non current	$ 5,679	$ 10,829

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%	35.00%
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance-beginning of year	$ 90,523	$ 88,314	$ 88,884
Additions based on tax positions of the current year	8,520	5,930	3,051
Settlements	0	0	(354)
Lapses in statutes of limitations	(3,807)	(3,721)	(3,267)
Balance-end of year	$ 95,236	$ 90,523	$ 88,314

Commitments and Contingencies - Additional Information (Detail)		1 Months Ended	12 Months Ended
	Feb. 18, 2012 USD ($) shares	Feb. 18, 2012 USD ($) shares	Dec. 31, 2017 USD ($) Room claim	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Apr. 28, 2017 USD ($)	Jun. 19, 2012
Commitments and Contingencies
Contingent rentals			$ 38,600,000	$ 34,600,000	$ 48,600,000
Rent expenses			18,300,000	$ 17,900,000	$ 16,400,000
Other Commitment, Due in Next Twelve Months			127,943,000
Operating Leases, Future Minimum Payments, Due in Two Years			91,637,000
Other Commitment, Due in Third Year			50,438,000
Other Commitment, Due in Fourth Year			38,569,000
Other Commitment, Due in Fifth Year			6,537,000
Common stock redeemed, shares \| shares		24,549,222
Capital Leases, Future Minimum Payments, Net Minimum Payments			$ 16,516,000
2023 indenture
Commitments and Contingencies
Final payment percent, principal			101.00%
4 1/4% Wynn Las Vegas Senior Notes Due May 30, 2023
Commitments and Contingencies
Debt instrument, interest rate							4.25%
Wynn MA, LLC [Member]
Commitments and Contingencies
Guaranteed Maximum Construction Price						$ 1,320,000,000.00
Wynn Palace
Commitments and Contingencies
Number of rooms in hotel \| Room			1,706
Aruze USA, Inc.
Commitments and Contingencies
Common stock redeemed, shares \| shares	24,549,222
Redemption price promissory note, principal amount	$ 1,940,000,000.00	$ 1,940,000,000.00
Debt instrument, interest rate	2.00%	2.00%
Minimum
Commitments and Contingencies
Term of employment agreement			3 years
Maximum
Commitments and Contingencies
Term of employment agreement			5 years
Pending Litigation \| Derivative Claims
Commitments and Contingencies
Number of new claims filed \| claim			2
Employment Contracts [Member]
Commitments and Contingencies
Other Commitment, Due in Next Twelve Months			$ 65,800,000
Operating Leases, Future Minimum Payments, Due in Two Years			45,400,000
Other Commitment, Due in Third Year			18,700,000
Other Commitment, Due in Fourth Year			4,800,000
Other Commitment, Due in Fifth Year			2,900,000
Community payments associated with Wynn Boston Harbor [Member]
Commitments and Contingencies
Community Payments			10,600,000
Construction Performance Bond [Member] \| Wynn MA, LLC [Member]
Commitments and Contingencies
Performance Bond						$ 350,000,000
Wynn America Credit Facilities \| Wynn America \| Revolving Credit Facility
Commitments and Contingencies
Letter of credit outstanding			$ 17,700,000

Commitments and Contingencies - Future Minimum Rentals Received Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2018	$ 108,101
2019	114,577
2020	115,499
2021	53,902
2022	32,944
Thereafter	165,704
Total	$ 590,727

Commitments and Contingencies - Future Minimum Rental Payable Under Non-cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Operating Leases
2018	$ 18,052
2019	17,449
2020	12,083
2021	11,294
2022	11,323
Thereafter	69,045
Total	139,246
Capital Leases
2018	989
2019	989
2020	989
2021	989
2022	989
Thereafter	67,732
Total minimum lease payments	72,677
Less: Amount representing interest	(56,161)
Total capital lease net minimum payments	$ 16,516

Commitments and Contingencies Commitments and Contingencies - Other Commitments (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Other Commitments [Line Items]
2018	$ 127,943
2019	91,637
2020	50,438
2021	38,569
2022	6,537
Thereafter	4,000
Total	$ 319,124

Commitments and Contingencies Commitment and Contingencies - Capital Leases (Details) $ in Millions	Dec. 31, 2017 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capital Leased Assets, Gross	$ 16.6

Segment Information - Summary of Results of Operations by Segment (Detail)
$ in Thousands

12 Months Ended

Dec. 31, 2017

USD ($)

segment

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Segment Reporting Information

Number of Reportable Segments | segment

Net revenues

$ 6,306,368

$ 4,466,297

$ 4,075,883

Adjusted Property EBITDA

^[1]

1,810,732

1,259,327

1,185,789

Other operating expenses

Pre-opening

26,692

154,717

77,623

Depreciation and amortization

552,368

404,730

322,629

Property charges and other

29,576

54,822

10,535

Corporate expenses and other

102,560

80,162

76,079

Stock-based compensation

43,971

43,218

38,286

Equity in income from unconsolidated affiliates

1,823

Total other operating expenses

755,167

737,665

526,975

Operating income

1,055,565

521,662

658,814

Other non-operating income and expenses

Interest income

31,193

13,536

7,229

Interest expense, net of amounts capitalized

(388,664)

(289,365)

(300,906)

Change in interest rate swap fair value

(1,056)

433

(5,300)

Change in Redemption Note fair value

(59,700)

65,043

52,041

Loss on extinguishment of debt

(55,360)

(126,004)

Other

(21,709)

(728)

1,550

Other income (expense), net

(495,296)

(211,065)

(369,567)

Equity in income from unconsolidated affiliates

1,823

Income before income taxes

560,269

310,597

289,247

Benefit (provision) for income taxes

328,985

(8,128)

(7,723)

Net income

889,254

302,469

281,524

Net income attributable to noncontrolling interest

142,073

60,494

86,234

Net income attributable to Wynn Resorts, Limited

747,181

241,975

195,290

Macau Operations

Segment Reporting Information

Net revenues

2,485,804

2,264,087

2,463,092

Adjusted Property EBITDA

^[1]

760,752

681,509

708,623

Las Vegas Operations

Segment Reporting Information

Net revenues

1,681,410

1,618,874

1,612,791

Adjusted Property EBITDA

^[1]

522,397

474,782

477,166

Macau Operations [Domain]

Segment Reporting Information

Net revenues

4,624,958

2,847,423

2,463,092

Adjusted Property EBITDA

^[1]

1,288,335

784,545

708,623

Wynn Palace

Segment Reporting Information

Net revenues

2,139,154

583,336

Adjusted Property EBITDA

^[1]

$ 527,583

$ 103,036

$ 0

[1]	{F\|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmYzZGI4YjkzZDA2ZDRkNjlhYTA4ZTJjZDA0MjgzNWQ0fFRleHRTZWxlY3Rpb246RDI0ODg4MTBCMTJBNTMyRDlENERFMzI1QUJDRTBEODEM}

Segment Information Segment Information - Schedule of Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	$ 935,474	$ 1,225,943	$ 1,921,240
Las Vegas Operations
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	139,893	106,373	117,011
Wynn Boston Harbor [Member]
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	572,825	212,197	67,705
Corporate and Other
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	71,841	25,554	101,690
Macau
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	150,915	881,819	1,634,834
Macau \| Macau Operations
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	43,510	43,548	68,744
Macau \| Wynn Palace
Segment Reporting Information
Payments to Acquire Property, Plant, and Equipment	$ 107,405	$ 838,271	$ 1,566,090

Segment Information - Summary of Assets by Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information
Assets	$ 12,681,739	$ 11,953,557	$ 10,459,159
Long-lived assets	8,697,505	8,416,696	7,662,099
Las Vegas Operations
Segment Reporting Information
Assets	3,266,390	3,275,780	3,145,713
Wynn Boston Harbor [Member]
Segment Reporting Information
Assets	1,060,530	419,001	185,853
Corporate and Other
Segment Reporting Information
Assets	2,891,012	2,750,721	1,786,281
Macau
Segment Reporting Information
Assets	5,463,807	5,508,055	5,341,312
Long-lived assets	4,613,950	4,973,854	4,324,743
Macau \| Macau Operations
Segment Reporting Information
Assets	1,271,544	1,161,670	1,331,312
Macau \| Wynn Palace
Segment Reporting Information
Assets	4,017,494	4,317,458	3,439,041
Macau \| Other Macau
Segment Reporting Information
Assets	174,769	28,927	570,959
United States
Segment Reporting Information
Long-lived assets	$ 4,083,555	$ 3,442,842	$ 3,337,356

Schedule II- Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 54,742	$ 67,057	$ 74,678
Provisions for Doubtful Accounts	(6,711)	8,203	11,115
Write-offs, Net of Recoveries	(17,431)	(20,518)	(18,736)
Ending balance	30,600	54,742	67,057
Valuation Allowance of Deferred Tax Assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	3,286,723	3,330,878	3,296,789
Provisions for Doubtful Accounts	112,543	32,130	52,759
Write-offs, Net of Recoveries	(8,799)	(76,285)	(18,670)
Ending balance	$ 3,390,467	$ 3,286,723	$ 3,330,878