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Wynn Resorts Complete Tender Offer for $600M Senior Notes Due in 2025

Wynn Resorts, Limited (NASDAQ: WYNN) announced on February 16, 2023, that its indirect wholly-owned subsidiary, Wynn Resorts Finance, LLC, has completed the initial settlement of a cash tender offer for all outstanding $600 million aggregate principal amount of 7.750% Senior Notes due in 2025 of Wynn Resorts Finance and Wynn Resorts Capital Corp.

The tender offer expired at 5:00 P.M., New York City time, on February 15, 2023, and valid tenders had been received for approximately $506.4 million of the $600 million aggregate principal amount of the notes outstanding. Wynn Resorts Finance has accepted for payment all 2025 Notes that were validly tendered before the Expiration Date.

On February 16, 2023, holders who tendered their notes before the Expiration Date received $1,024.50 for each $1,000 principal amount of 2025 Notes, plus accrued and unpaid interest from the last interest payment date to, but excluding, the date of the initial settlement. Holders of notes that were accepted for purchase and were tendered but not yet delivered in accordance with the guaranteed delivery procedures will receive payment for such accepted notes on February 21, 2023.

D.F. King & Co., Inc. acted as the information agent and tender agent, while Deutsche Bank Securities Inc. acted as the dealer manager in connection with the Tender Offer.

The Tender Offer was conducted in accordance with terms and subject to the conditions described in the Offer to Purchase dated as of February 9, 2023, and the related Notice of Guaranteed Delivery. This press release shall not constitute an offer to purchase or the solicitation of an offer to sell the 2025 Notes.

Wynn Resorts Finance's tender offer is part of its efforts to manage its debt, including its outstanding 2025 Notes, and its capital structure. This move is aimed at reducing its outstanding debt and strengthening its balance sheet, which will enhance its financial flexibility.

Wynn Resorts, Limited is one of the world's leading hospitality companies that owns and operates luxury resorts and casinos. It operates in Las Vegas and Macau and is known for its commitment to providing an exceptional guest experience. Its efforts to manage its debt and capital structure are part of its ongoing commitment to its investors and stakeholders.

This announcement is good news for Wynn Resorts and its shareholders as it is a sign that the company is taking steps to strengthen its balance sheet and enhance its financial flexibility. It is also a reflection of the company's commitment to its long-term financial goals and strategic objectives.

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