Wynn Resorts, Limited

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International Guild of Hospitality & Restaurant Managers

NASDAQ: WYNN

3145 Las Vegas Boulevard South
Las Vegas, NV 89109

Phone: (702) 733-4444
Employees (last reported count): 200

Wynn Resorts, Limited is constructing and will own and operate Le Reve, a luxury hotel and destination casino resort in Las Vegas, Nevada. Le Reve will be situated on approximately 192 acres at the site of the former Desert Inn Resort & Casino on the Las Vegas Strip in Las Vegas, Nevada. The facility will feature approximately 2,700 guest rooms and suites, a casino featuring an estimated 136 table games and 2,000 slot machines, a baccarat salon and private, high-limit gaming rooms; an approximately eight-story manmade mountain enclosing an approximately three-acre lake in front of the hotel and 18 dining outlets, including six fine-dining restaurants; an 18-hole championship golf course on the premises; a water-based entertainment production; an on-site, full-service Ferrari and Maserati dealership and an art gallery. The facility is scheduled to open to the public in April 2005.

The property on which the facility is being constructed consists of 212 acres of land, including an approximately 55-acre plot on which the hotel and casino is being constructed, a 137-acre plot located behind the hotel on which the golf course will be created, and an adjacent 20 acre parcel. The casino is expected to be approximately 111,000 square feet. Unlike many of the other major hotel/casinos in Las Vegas, Le Reve will not be a themed resort.

The Hotel

Le Reve's hotel tower has been designed to contain 45 floors of hotel rooms and suites on top of a three-story low-rise building housing restaurants, retail outlets and the casino. The building will have a total area of approximately 5.2 million square feet. The high-rise building is configured in the shape of a gentle arc with the focal point of the tower being the Le Reve lake, an approximately three-acre manmade lake situated in front of the hotel, and the manmade mountain in front of the lake along the Las Vegas Strip. The Le Reve lake and mountain are being designed to provide special effects intended to entertain guests and the pedestrians who come to the hotel and casino.

The Le Reve hotel guest main arrival area will feature an atrium garden adjacent to the registration desk with a view of the Le Reve lake below. Le Reve is being designed to provide an intimate setting by minimizing walking distances throughout the hotel with a floor plan designed to facilitate guest orientation and familiarity with the property.

The Guest Rooms

The standard guest rooms have been designed to have a floor layout of approximately 620 square feet. The arc-shaped design of the high-rise building will provide rooms with a view of the golf course, lake and mountain setting, or the surrounding mountains and has enabled the Company to design these rooms with widened entryways consisting of six-foot-wide marble foyers. All standard rooms will have views of either the golf course or Las Vegas Boulevard, and also are expected to have large working desks equipped with convenient and accessible electrical outlets. Additionally, each guest room will likely have a dedicated high-speed Internet connection utilizing broadband connections that, for an additional fee, can be upgraded for in-room wireless Internet access with an adapter. Standard room bathrooms will have an oversized countertop, double sinks, a makeup area and television, a glass shower enclosure, a separate toilet compartment and a bathtub for two.

The Company also plans for Le Reve to provide single- and multiple-bedroom luxury suites with amenities and furnishings designed to accommodate high-end hotel guests. Le Reve expects to offer 270 parlor and salon suites (beginning at approximately 1,250 square feet) located in the tower of the hotel high-rise building and 18 to 21 one- and two-bedroom fairway lanai suites (beginning at approximately 2,200 square feet) located on the east side of the low-rise complex overlooking the golf course. The high-rise suite area will be separated from the standard guest rooms on each floor by a glass door, effectively creating a separate but adjoining "suite tower" accessible only to suite occupants. Occupants of the suites can also make use of a special hotel garden entrance to the hotel, located off of the south porte cochere VIP arrival area, as well as an exclusive elevator for the suites.

The Company also plans to offer four two-bedroom and two four-bedroom villas located in the low-rise structure of the hotel. The villas will average approximately 7,000 square feet. They will be accessible via a private entry located off of the south porte cochere VIP arrival area and will be located close to the retail stores and fine-dining restaurants.

The Casino

Le Reve is expected to have an approximately 111,000-square-foot casino located in the center of the first level of the low-rise building. Le Reve's casino will be designed with a feeling of casual elegance and color palettes that complement Le Reve's resort setting. The casino's main gaming area will contain an estimated 136 table games and 2,000 slot machines, a race and sports book, poker room and keno lounge. The casino's gaming limits will accommodate a full range of casino customers. In addition, Le Reve will have a baccarat salon and private gaming rooms with direct access from the "suite tower."

The Golf Course

The Company plans to construct a world-class, 18-hole championship golf course at the site of the former Desert Inn golf course. The golf course will be accessible only to hotel guests of Le Reve. It is expected to feature three lakes and a series of meandering streams that will carve their way from the west to east end of the property. Le Reve's golf course will be adjacent to the hotel and will be visible from the windows of many of Le Reve's meeting and convention rooms.

Restaurants, Lounges, Bars and Nightclub

The Company plans to offer 18 food and beverage outlets, including six fine-dining restaurants and an approximately 600-seat buffet. Le Reve is expected to offer a full complement of lounges and bars and a nightclub. It is planned for several of the restaurants to overlook the Le Reve lake and will offer outdoor lounges and/or dining areas.

The Showroom

Le Reve's showroom will be customized to accommodate the unveiling of a water-based entertainment production created by the creative force behind Bellagio's production of "O" and Treasure Island at The Mirage's production of "Mystere," as well as Celine Dion's new production at the approximately 4,000-seat performing arts "Colosseum" at Caesars Palace. The showroom will seat approximately 2,080 guests and will feature an approximately 1,000,000-gallon performance pool. The seating for the showroom is designed to extend around the performance area a full 360 degrees and to be suspended over the performance pool with no seat farther than approximately 42 feet from the performance area.

The Art Gallery

Le Reve will also offer an art gallery displaying rare paintings from The Wynn Collection, which consists of works from European and American masters, and at various times has included works by Paul Cezanne, Paul Gaugin, Edouard Manet, Henri Matisse, Amedeo Modigliani, Claude Monet, Pablo Picasso and Vincent Van Gogh. Several of these paintings were on display at Bellagio before MGM Grand's acquisition of Mirage Resorts.

The Ferrari and Maserati Dealership

The Company has entered into letters of intent with Ferrari North America, Inc. and Maserati North America, Inc. to open an authorized on-site, full-service Ferrari and Maserati dealership. It is expected that these franchises will include a service and maintenance facility, as well as a cafe and retail store. The dealership will be located near the main entrance to the hotel.

Retail Space

Le Reve is expected to contain approximately 77,500 square feet dedicated to retail shops. The Company expects to lease approximately eight of the shops to tenants operating boutiques, including brand name and high-end boutiques. Wynn Resorts plans to operate the remaining approximately 18 stores, including a golf shop and other shops selling, among other things, men's clothing, women's apparel and accessories, art, watches, sundries and proprietary Le Reve products.

The Spa, Salon and Fitness Complex

Wynn Resorts plans to own and operate an approximately 38,000-square-foot spa, salon and fitness complex offering high-end spa treatments and fitness equipment and custom label and branded skin and body treatment products, as well as clothing, accessories, and athletic wear.

Swimming Pools

Le Reve will offer its guests four outdoor swimming pools and two whirlpool spas. Two swimming pools will be dedicated for the exclusive use of suite guests. All of the pool areas will feature private cabanas and lush landscaping.

Convention, Meeting and Reception Facilities

The facility is expected to offer approximately 223,000 square feet of convention, meeting and reception space (including corridors and patio space), including a grand ballroom, a junior ballroom and meeting rooms with outdoor patios overlooking either the pool area or the golf course, as well as boardrooms and a business center. Covered patios off of the meeting rooms will be available as pre-function or break-out areas.

The Wedding Chapels

Le Reve will include two intimate wedding chapels are expected to accommodate 60 guests each.

Parking

The north parking garage, which will have easy access to the hotel, will provide approximately 1,840 parking spaces for guests and other visitors. The second level of the north parking garage will connect to a retail promenade that will lead to the casino. There will be two levels of valet parking under the hotel and a separate parking area for employees located on the 20-acre parcel next to Le Reve.

The Company's hotel will face competition from properties such as Bellagio, Caesars Palace, Luxor Hotel and Casino, Mandalay Bay Resort & Casino, the MGM Grand Hotel and Casino, The Mirage, Monte Carlo Hotel and Casino, New York-New York Hotel and Casino, Paris Las Vegas, Rio All-Suite Hotel & Casino, Treasure Island at The Mirage and The Venetian. Its retail area will face significant competition from the retail stores at Bellagio, the Forum Shops at Caesars Palace, The Grand Canal Shoppes at The Venetian and Desert Passage at Aladdin Resort & Casino. In particular, Le Reve's retail stores will face competition from the premium retail stores of the Fashion Show Mall.

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