LAS VEGAS— Wynn Resorts Limited announced that the underwriters in the companys recent initial public offering have exercised the 3,219,173 share over-allotment option in full. Wynn Resorts granted this option in connection with its initial public offering. The closing of the exercise of the over-allotment option is scheduled for Nov. 13, 2002, at which time Wynn Resorts estimates that it will receive additional net proceeds of approximately $38.9 million. The joint book-running managers for the offering were Deutsche Bank Securities; Bear, Stearns & Co; and Banc of America Securities LLC. Wynn Resorts intends to construct and operate Le Reve, a new destination casino resort, on the site of the former Desert Inn Resort & Casino in Las Vegas. In addition, a subsidiary of Wynn Resorts has been granted the right to operate one or more casino gaming properties in Macau.
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