WYNN RESORTS LTD
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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Item 2. Properties
The following table presents our significant land holdings. We own or have obtained the right to use these properties. We also own or lease various other improved and unimproved properties which may be used for development projects.
| Property | Approximate Acres | Location |
|---|---|---|
| Macau Operations(1) | ||
| Wynn Palace | 51 | Located in the Cotai area of Macau. |
| Wynn Macau | 16 | Located in downtown Macau's inner harbor. |
| Las Vegas Operations | ||
| Wynn Las Vegas (main parcel) | 75 | Located at the intersection of Las Vegas Boulevard and Sands Avenue. |
| Golf course land(2) | 128 | Located adjacent to Wynn Las Vegas. |
| Meeting and Convention Expansion | 12 | Located adjacent to Wynn Las Vegas. |
| Employee parking lot and office building | 18 | Located across Sands Avenue. |
| Office building | 5 | Located adjacent to golf course land. |
| Encore Boston Harbor(3) | 34 | Located in Everett, Massachusetts, adjacent to Boston along the Mystic River. |
| Other(4) | 96 | Located in Las Vegas, Nevada, and Everett, Massachusetts. |
(1)The government of Macau owns most of the land in Macau. In most cases, private interests in real property located in Macau are obtained through long-term leases known as concessions and other grants of rights to use land from the government. Wynn Palace and Wynn Macau are built on land leased under land concession contracts each with terms of 25 years from May 2012 and August 2004, respectively, which may be renewed with government approval for successive periods.
(2)We own approximately 834 acre-feet of permitted and certificated water rights, which we use to irrigate the golf course. We also own approximately 151.5 acre-feet of permitted and certificated water rights for commercial use. There are significant cost savings and conservation benefits associated with using water supplied pursuant to our water rights.
(3)Subject to a triple-net lease with an initial term of 30 years, with one 30-year renewal option.
(4)Includes approximately 38 acres of land on the Las Vegas Strip directly across from Wynn Las Vegas, and approximately 52 acres of land adjacent to Encore Boston Harbor in Everett, Massachusetts. This land may be used for future development. In addition, includes approximately 6 acres of land adjacent to Encore Boston Harbor in Everett, Massachusetts, upon which the Company is currently constructing a phased development which will include a theater, entertainment venues, gaming facilities, food and beverage facilities, a parking garage, and a pedestrian bridge to Encore Boston Harbor.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.