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Long-Term Debt | 6 Months Ended
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Jun. 30, 2021
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt consisted of the following (in thousands):
| June 30, 2021 |  | December 31, 2020
Macau Related: |  |  |
Wynn Macau Credit Facilities (1): |  |  |
Wynn Macau Term Loan, due 2022 (2) | $ | 802,898 |  |  | $ | 1,268,106 |
Wynn Macau Revolver, due 2022 (3) | 457,290 |  |  | 407,443 |
WML 4 7/8% Senior Notes, due 2024 | 600,000 |  |  | 600,000 |
WML 5 1/2% Senior Notes, due 2026 | 1,000,000 |  |  | 1,000,000 |
WML 5 1/2% Senior Notes, due 2027 | 750,000 |  |  | 750,000 |
WML 5 5/8% Senior Notes, due 2028 | 1,350,000 |  |  | 1,350,000 |
WML 5 1/8% Senior Notes, due 2029 | 1,000,000 |  |  | 1,000,000 |
U.S. and Corporate Related: |  |  |
WRF Credit Facilities (4): |  |  |
WRF Term Loan, due 2024 | 912,500 |  |  | 937,500 |
WRF Revolver, due 2024 | — |  |  | 716,000 |
WLV 4 1/4% Senior Notes, due 2023 | 500,000 |  |  | 500,000 |
WLV 5 1/2% Senior Notes, due 2025 | 1,780,000 |  |  | 1,780,000 |
WLV 5 1/4% Senior Notes, due 2027 | 880,000 |  |  | 880,000 |
WRF 7 3/4% Senior Notes, due 2025 | 600,000 |  |  | 600,000 |
WRF 5 1/8% Senior Notes, due 2029 | 750,000 |  |  | 750,000 |
Retail Term Loan, due 2025 (5) | 615,000 |  |  | 615,000 |
| 11,997,688 |  |  | 13,154,049 |
Less: Unamortized debt issuance costs and original issue discounts and premium, net | (76,775) |  |  | (88,279) |
| 11,920,913 |  |  | 13,065,770 |
Less: Current portion of long-term debt | (1,308,353) |  |  | (596,408) |
Total long-term debt, net of current portion | $ | 10,612,560 |  |  | $ | 12,469,362 |
(1) The borrowings under the Wynn Macau Credit Facilities bear interest at LIBOR or HIBOR plus a margin of 1.50% to 2.25% per annum based on Wynn Resorts Macau S.A.’s leverage ratio. (2) Approximately $454.4 million and $348.5 million of the Wynn Macau Term Loan bears interest at a rate of LIBOR plus 2.25% per year and HIBOR plus 2.25% per year, respectively. As of June 30, 2021, the weighted average interest rate was approximately 2.35%. In January 2021, the Company prepaid $412.5 million of the Wynn Macau Term Loan. (3) Approximately $260.2 million and $197.1 million of the Wynn Macau Revolver bears interest at a rate of LIBOR plus 2.25% per year and HIBOR plus 2.25% per year, respectively. As of June 30, 2021, the weighted average interest rate was approximately 2.34%. As of June 30, 2021, the available borrowing capacity under the Wynn Macau Revolver was $293.2 million. (4) The WRF Credit Facilities bear interest at a rate of LIBOR plus 1.75% per year. As of June 30, 2021, the weighted average interest rate was approximately 1.86%. Additionally, as of June 30, 2021, the available borrowing capacity under the WRF Revolver was $834.2 million, net of $15.8 million in outstanding letters of credit. (5) The Retail Term Loan bears interest at a rate of LIBOR plus 1.70% per year. As of June 30, 2021, the effective interest rate was 2.70%. Wynn Macau Credit Facilities Refinancing Commitment In August 2021, a subsidiary of WML received lender commitments for a senior unsecured revolving credit facility in an aggregate principal amount of up to $1.50 billion with a final maturity four years from inception. The Company expects to enter into the facility during the third quarter of 2021, and to use a portion of the net proceeds from borrowings under the new facility to facilitate the repayment of the outstanding $1.26 billion of borrowings under the existing Wynn Macau Credit Facilities at closing. Debt Covenant Compliance As of June 30, 2021, management believes the Company was in compliance with all debt covenants. Fair Value of Long-Term Debt The estimated fair value of the Company's long-term debt as of June 30, 2021 and December 31, 2020, was approximately $12.41 billion and $13.35 billion, respectively, compared to its carrying value, excluding debt issuance costs and original issue discount and premium, of $12.00 billion and $13.15 billion, respectively. The estimated fair value of the Company's long-term debt is based on recent trades, if available, and indicative pricing from market information (Level 2 inputs).

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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