Wynn Resorts Ltd WYNN
Q4 2011 Earnings Call Transcript

Transcript Call Date 02/02/2012

Operator: Good afternoon, and welcome to the Wynn Resorts Fourth Quarter 2011 Earnings Call. Joining the call on behalf of the Company today are Steve Wynn, Marc Schorr, John Strzemp, Matt Maddox, Marilyn Spiegel, Scott Peterson; and on the phone, Ian Coughlan, President of Wynn, Macau; and Robert Gansmo, CFO of Wynn Macau.

Now, I'd like to turn the call over to Mr. Maddox. Please go ahead, sir.

Matt Maddox - CFO and Treasurer: Thank you and thanks everyone for joining us this afternoon for our fourth quarter conference call. Before we get started, I just need to remind everybody, we will be making forward-looking statements under the safe harbor federal securities laws, and those statements may or may not come true.

With that, I'm going to go turn it over to Steve Wynn for opening comments.

Stephen A. Wynn - Chairman and CEO: Today is a particularly delightful day for us because about an hour and half ago we opened up to the rest of the world our brand new Wynn Resorts website, which we've taken a great deal of time to make beautiful and special and ultra-user-friendly. Anybody who is on the call wants to see our best effort, go look at our new website and checkout Garth Brooks, he does a video himself. Lot of great things on the website, but its brand new and we launched it an hour ago. Mr. Weaver and our Company and everybody else have been on this for months and we are very proud of the product.

As far as the last quarter and the last year, we've got two hotels really; the Encore Wynn Complex, with 4,700 rooms and the 1,000 rooms in Macau and between the two of them, they managed to produce a cash flow and EBITDA of $1.630 billion, which is not bad for two building and we are very proud of our staff for the good job they did.

I checked with the Gaming Control Board, and interestingly enough our Casino Wynn in Las Vegas at $776 million last year was the all-time historical record for gaming license facility in the state of Nevada's history. It exceeded the previous record of $764 million, which coincidentally and delightfully enough was held by Wynn Las Vegas in 2007. So, all-in-all it was a good year, lot of international business in America, a robust and wonderful season in Macau. I guess you've got the numbers, ask the questions. We're all yours.

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