WYNN RESORTS, LIMITED ANNOUNCES SALE OF ADDITIONAL
                            CONVERTIBLE DEBENTURES

LAS VEGAS--(BUSINESS WIRE)--July 30, 2003--Wynn Resorts, Limited

(Nasdaq:WYNN) today announced the sale of an additional $50 million aggregate
principal amount of its 6% Convertible Subordinated Debentures due 2015. The
sale was made pursuant to the full exercise of an option granted to the
initial purchasers of its previously announced private offering of debentures,
which closed July 7, 2003. The total offering, including the additional
debentures, resulted in the issuance of $250.0 million aggregate principal
amount of debentures.

Wynn Resorts contributed approximately $9 million of the net proceeds from the
sale of the additional debentures to a subsidiary, which purchased U.S.
government securities to secure the payment of three years of scheduled
interest payments as required by the indenture governing the debentures. Wynn
Resorts intends to use the remaining net proceeds from the sale to help
finance its Macau project and for general corporate purposes.

The securities have not been registered under the Securities Act of 1933 or
any state securities laws and unless so registered may not be offered or sold
in the United States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act of 1933
and applicable state securities laws. This announcement does not constitute an
offer to sell or the solicitation of offers to buy any security and shall not
constitute an offer, solicitation or sale of any security in any jurisdiction
in which such offer, solicitation or sale would be unlawful.

This press release contains "forward-looking statements" within the meaning of
the federal securities laws. The forward-looking statements in this press
release involve risks and uncertainties which could cause actual results to
differ from those expressed in or implied by the statements herein. Additional
information concerning potential factors that could affect the company's
future results is included under the caption "Risk Factors" in Item 1 of Wynn
Resorts' annual report on Form 10-K for the year ended December 31, 2002.

CONTACT:
Wynn Resorts, Limited
Samanta Hegedus, 702/733-4520
investorrelations@wynnresorts.com


SOURCE: Wynn Resorts, Limited