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Strong quarter and outlook 

CONF CALL / Q&A

  • On their way to having their best year
  • Wynn Palace on schedule for CNY 2016 but by 1H 2016 at the latest
  • Planning for phase 2 for Wynn Palace - will introduce a revolutionary product
  • $1 BN cash at parent company; after tender at Wynn LV, they'll have $250MM
  • Macau: >$1.8BN cash and $1.55BN  revolver - plenty of capital
  • Las Vegas:  positive trends in 4Q as well as 2014; continuing with same momentum as they've had in previous Q
    • Conventions trending very well
  • WYNN board meeting: Nov 4/5- will discuss special dividend possibility
  • Encouraged about MA but very challenging, complex situation there; timelines change frequently
  • Like idea of hotels with casinos
  • Adding 2 major junket areas at Wynn Macau (southwest corner); they will be done by CNY 2014
  • Wynn Diamond will include the Wynn  Diamond coliseum of 15,000 seats, it will include an  all suite Wynn Diamond hotel that will be directly related 1,300-square foot feet at the premium mass  market and above.
  • Will consider social/virtual gaming opportunity
  • High hold (direct business) impacted Macau by $10-15MM
  • Vegas:  F&B revenues may have been hurt by new competition from Hakkasan but Wynn emphasized the need to protect the bottom line, not top line
  • No comment on Japan
  • Macau: usual rooms out of service in 3Q; remodel will be done in few weeks-remodel is more about retaining existing customers than attracting new customers