Exhibit 12
WYNN RESORTS, LIMITED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Period from April 21, 2000 (date of inception) to December 31, 2000(1) |
Year Ended December 31, |
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| 2001(1) |
2002(1) |
2003(1) |
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| (in thousands, except per share amounts) | ||||||||||||
| Pretax (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
(10,616 | ) | (17,726 | ) | (32,579 | ) | (52,021 | ) | ||||
| Add: Fixed charges |
6,344 | 35 | 15,420 | 96,307 | ||||||||
| Less: Interest capitalized |
6,325 | — | 13,507 | 87,256 | ||||||||
| Earnings as adjusted |
(10,597 | ) | (17,691 | ) | (30,666 | ) | (42,970 | ) | ||||
| Interest expensed |
17 | 28 | 1,897 | 9,031 | ||||||||
| Interest capitalized |
6,325 | — | 13,507 | 87,256 | ||||||||
| Interest in rental expense |
2 | 7 | 16 | 20 | ||||||||
| Total Fixed Charges |
6,344 | 35 | 15,420 | 96,307 | ||||||||
| Earnings to Fixed Charges |
(1.67 | ) | (505.46 | ) | (1.99 | ) | (0.45 | ) | ||||
| Deficiency Amount |
(16,941 | ) | (17,726 | ) | (46,086 | ) | (139,277 | ) | ||||
| (1) | Wynn Resorts, Limited’s earnings were insufficient to cover fixed charges by $16.9 million, $17.7 million, $46.1 million and $139.3 million for the period from inception to December 31, 2000, and for the years ended December 31, 2001, 2002 and 2003, respectively. |