<SUBMISSION>
<ACCESSION-NUMBER>0000950172-05-000950
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20050318
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20050324
<DATE-OF-FILING-DATE-CHANGE>20050324
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>WYNN RESORTS LTD
<CIK>0001174922
<ASSIGNED-SIC>7990
<IRS-NUMBER>460484987
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-50028
<FILM-NUMBER>05702782
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3145 LAS VEGAS BLVD S.
<CITY>LAS VEGAS
<STATE>NV
<ZIP>89109
<PHONE>7027334444
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3145 LAS VEGAS BLVD S.
<CITY>LAS VEGAS
<STATE>NV
<ZIP>89109
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>lac388573.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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     <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
     <!-- Project:        I:\CONVER\ny14233.eep                                            -->
     <!-- Control Number: NY14233                                                          -->
     <!-- Rev Number:     A. Horgan                                                        -->
     <!-- Client Name:    Wynn Resorts Ltd                                                 -->
     <!-- Project Name:   NY14233 - 8-K                                                    -->
     <!-- Firm Name:                                                                       -->
     <TITLE>8-K</TITLE>
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<BR><BR>

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UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, DC 20549</b> </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><b>FORM 8-K<BR><BR>
CURRENT REPORT</b></FONT></TD></TR>
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<BR><BR>

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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>PURSUANT TO SECTION 13 OR 15(D) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</b> </FONT></TD></TR>
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<BR>



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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
of report (Date of earliest event reported):&nbsp;&nbsp; &nbsp; <B>March 18, 2005</B><!-- DATE --> </FONT></TD></TR>
</TABLE>
<BR>


<TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>Wynn Resorts, Limited</B><!-- Name of Registrant --></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact Name of Registrant as Specified in its Charter)</FONT></TD></TR>
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<BR>



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<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Nevada<!-- State--></b></FONT></TD>
<TD WIDTH="34%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>000-50028<!-- File No.--></b></FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>46-0484987<!-- Irs No.--></b></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(State or Other Jurisdiction <BR>of Incorporation)</font></td>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(Commission<BR>File Number) </FONT></TD>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(IRS Employer<BR> Identification No.) </FONT></TD>
</TR>
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<TD ALIGN=left WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>3131 Las Vegas Boulevard South<BR>Las Vegas, Nevada</B><!-- ADDRESS -->
</FONT></TD>
<TD ALIGN=CENTER WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" WIDTH="35%" VALIGN="BOTTOM"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>89109</B>&nbsp;<!-- Zip Code.--></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="left" WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(Address of Principal Executive Offices)
</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Zip Code) </FONT></TD>
</TR>
</TABLE>
<BR>





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<TR VALIGN="BOTTOM">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(702) 770-7555</B><!-- Phone No..--></FONT></TD></TR>
<TR VALIGN="MIDDLE">
     <TD WIDTH="600" ALIGN="CENTER"><HR SIZE="1" WIDTH="50%"></TD></TR>
<TR VALIGN="TOP">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Registrant's
telephone number, including area code) </FONT></TD></TR>
</TABLE><BR>



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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below): </FONT></TD></TR></TABLE><BR>

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<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD>
</TR>
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<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act <BR>(17 CFR
240.14d-2(b)) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=610 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act <BR>(17 CFR
240.13e-4(c)) </FONT></TD>
</TR>
</TABLE>
<BR>




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<TD><HR SIZE=5 NOSHADE COLOR="BLACK">
</TD></TR></TABLE><BR>


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<TR VALIGN=TOP>
<TD>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item
1.01&nbsp;&nbsp;&nbsp;&nbsp; Entry into a Material Definitive Agreement</FONT></H1></TD></TR>
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<BR>

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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On
March 18, 2005, the Compensation Committee of the Board of Directors of the Registrant
approved performance criteria for the payment of bonuses for the fiscal year 2005 to
participants in the Registrant&#146;s Performance Based Incentive Plan for Executive
Officers (the &#147;Incentive Plan&#148;). The Incentive Plan is an annual bonus plan
designed to provide certain senior executive officers with incentive compensation based
upon the achievement of pre-established performance goals. The performance bonus criteria
for fiscal year 2005 are described in Exhibit 10.1 hereto, which is incorporated by
reference herein. </FONT></TD></TR></TABLE><BR>

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<TD>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item
9.01.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</FONT></H1></TD></TR>
</TABLE>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   Exhibits:  </FONT></TD></TR>
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<BR>

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<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=16%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit<BR>
<U>Number</U> </FONT></TD>
<TD WIDTH=76%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Description</U></FONT></TD>
</TR>
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<BR>

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<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=16%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1 </FONT></TD>
<TD WIDTH=76%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Description
of Performance Based Incentive Plan Bonus Criteria
for Fiscal Year 2005. </FONT></TD></TR>
</TABLE>
<BR>


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<TD><HR SIZE=5 NOSHADE COLOR="BLACK">
</TD></TR></TABLE><BR>

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<TD><H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1></TD></TR>
</TABLE>
<BR>

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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></TD></TR>
</TABLE>
<BR>

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<TD>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date:&nbsp;&nbsp;&nbsp;
March 24, 2005 </FONT></P></TD></TR>
</TABLE>
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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- TYPE "DATE:" HERE--> </FONT></TD>
    <TD WIDTH="44%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Wynn Resorts, Limited<!-- COMPANY --> </FONT></TD>
  </TR>
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<BR>


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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- DATE--> </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;<U>/s/ John Strzemp&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
John Strzemp<BR>
Chief Financial Officer<!-- NAME --> </FONT></TD>
  </TR>
  <TR VALIGN="TOP">
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD>&nbsp; </TD>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>wynn_10.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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     <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
     <!-- Project:        I:\CONVER\ny14233.eep                                            -->
     <!-- Control Number: NY14233                                                          -->
     <!-- Rev Number:     A. Horgan                                                        -->
     <!-- Client Name:    Wynn Resorts Ltd                                                 -->
     <!-- Project Name:   NY14233 - 8-K                                                    -->
     <!-- Firm Name:                                                                       -->
     <TITLE>Ex. 10.1</TITLE>
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<FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Exhibit
10.1</U></B> </FONT></TD></TR>
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<TD>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Description
of Performance Based Incentive Plan<BR>
Bonus Criteria for Fiscal Year 2005</U> </FONT></H1></TD></TR>
</TABLE>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
following senior executive officers of Wynn Resorts, Limited (the &#147;Company&#148;) are
participants in the Company&#146;s Performance Based Incentive Plan for Executive Officers
(the &#147;Incentive Plan&#148;) for the fiscal year 2005: Stephen A. Wynn, Chief
Executive Officer; Ronald J. Kramer, President; and Marc. D. Schorr, Chief Operating
Officer. On March 18, 2005, the Compensation Committee of the Board of Directors of the
Company (the &#147;Compensation Committee&#148;) approved performance criteria applicable
to the payment of bonuses for the fiscal year 2005 under the Incentive Plan. </FONT></TD></TR></TABLE><BR>

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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
approved performance criteria include an EBITDA target; as well as performance targets
related to the opening of the Company&#146;s Wynn Las Vegas project; financing for the
Company&#146;s Encore at Wynn Las Vegas and Wynn Macau projects; and other corporate
compliance, leadership and operational objectives. Each executive&#146;s primary areas of
responsibility vary within the performance criteria and not every executive is allocated
responsibility for each criteria. Accordingly, the Compensation Committee has determined
the applicability of each criteria and the weighting of the respective criteria for each
executive. </FONT></TD></TR></TABLE><BR>

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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Achievement
of all of the performance objectives could result in maximum bonuses under the Incentive
Plan for Messrs. Wynn, Kramer and Schorr of 250%, 200% and 200%, respectively, of their
annual base salary (calculated in accordance with the Incentive Plan). The earned bonus
for each executive shall be subject to (i) downward (but not upward) discretionary
adjustments, if any, as determined by the Compensation Committee, and (ii) any maximum
bonus amount set forth in the Incentive Plan. The Compensation Committee will determine
whether the performance objectives were reached after the end of the Company&#146;s fiscal
year 2005, and any bonus payments will be made early in 2006. </FONT></TD></TR></TABLE><BR>

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</SUBMISSION>
