Wynn Resorts decided to pre-release results yesterday for the quarter ended September 30, 2008 in order to provide investors with more timely information due to the volatility in the global markets. The Company, which has earned Mobil Five-Star, Michelin Red Pavilion and AAA Five Diamond awards, says it is in the privileged position of representing the highest end of its market. “We remain convinced that such a reputation represents a measurable franchise notwithstanding the current market volatility.”

The announcement continues, “Our Company had a solid third quarter in both Las Vegas and Macau but we have very little visibility on future earnings due to the global economic situation and the recently imposed travel restrictions in Macau.” Income for Wynn Las Vegas for the third quarter of 2008 is expected to be in the range of a $2 million loss to a $2 million profit, compared to $35.8 million in the 2007 period. During the quarter, table games drop increased 11.6% from the comparable period in 2007 to $531.0 million. Table games hold decreased to 24.3% compared to 26.4% in 2007. Slot machine handle of $853.8 million was 11.9% below the comparable period of 2007.

Table games turnover in the VIP segment at Wynn Macau increased 35.6% to $13.3 billion for the period, compared to $9.8 billion for the third quarter of 2007. VIP table games win as a percentage of turnover (calculated before discounts and commissions) was 3.10%, slightly above the expected range of 2.7% to 3.0% and higher than the 2.96% in the comparable period of 2007. Table games drop in the mass market category was approximately $568.8 million during the period, a 19.7% increase from $475.4 million in the third quarter of 2007. Mass market table games win percentage (calculated before discounts) of 20.3% was in-line with the win percentage in the third quarter of 2007 and slightly above the expected range of 18% to 20%.

Some analysts lowered price targets on Wynn Resorts Ltd. after the casino operator published the weaker than expected third-quarter results for its Macau properties. The Company will release final third quarter results and hold a conference call to discuss its results on October 30, 2008. (E-10.14.08)

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