Wynn Resorts Ltd Dec 05
- ID: 2084882
- December 2005
- Standard & Poors
Initial operating results at the Wynn Las Vegas property have been good; The operating environment in Las Vegas remains solid; Strong market conditions continue in Macau; and Consolidated liquidity is adequate. High consolidated debt levels; Lack of significant cash flow until the Las Vegas asset ramps up; Near-term cash flow concentration in Las Vegas; Increased intermediate-term capital spending associated with the Phase II casino resort in Las Vegas and the resort facility in Macau; An aggressive growth strategy relative to other growth opportunities; and A highly leveraged capital structure until operations ramp up. Ratings on Wynn Resorts Ltd. and its Wynn Las Vegas LLC subsidiary reflect the consolidated entity's significant amount of debt, lack of significant cash flow until the...
Companies mentioned in this report are: Wynn Resorts Ltd.,Wynn Las Vegas LLC
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