Washington, D.C. 20549


                                   FORM 8-K

                                CURRENT REPORT

                    Pursuant to Section 13 OR 15(d) of the
                        Securities Exchange Act of 1934

      Date of Report (Date of earliest event reported): December 14, 2004

                             Wynn Resorts, Limited
            (Exact Name of Registrant as Specified in its Charter)

          Nevada                      000-50028               46-0484987
(State or Other Jurisdiction    (Commission File Number)    (I.E. Employer 
  of Incorporation)                                         Identification No.)

       3131 Las Vegas Boulevard South
             Las Vegas, Nevada                                  89109
  (Address of Principal Executive Offices)                    (Zip Code)

                                 (702) 770-7555
              (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following

|_|   Written communication pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencements communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.   Other Events.

On December 14, 2004, Wynn Las Vegas, LLC, a subsidiary of the Registrant,
entered into an interest rate swap agreement with Deutsche Bank AG and JPMorgan
Chase Bank, NA (together, the "Banks") to hedge a portion of the underlying
interest risk on future borrowings under Wynn Las Vegas' new $1.0 billion
credit facility. Pursuant to the hedge agreement, Wynn Las Vegas will pay to
the Banks a fixed interest rate of approximately 3.8% on borrowings estimated
to be incurred under the $400 million term loan portion of the credit
facilities, in exchange for payments from the Banks on the same amounts at a
variable interest rate based on the applicable London Interbank Offered Rate
("LIBOR") at the time of payment. The term of the hedge agreement is March 15,
2005 through December 31, 2008. Wynn Las Vegas' credit facility currently
provides for interest charged on outstanding borrowings at LIBOR plus up to
2.25% on up to $600 million of revolving loans and LIBOR plus up to 2.125% on
up to $400 million of available term loans. Wynn Las Vegas currently has no
amounts outstanding under the credit facility. As a result of this hedge
agreement, and the recent issuance of $1.3 billion of 6.625% First Mortgage
Notes due 2014 by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp.,
interest rates are effectively fixed on approximately 74% of Wynn Las Vegas,
LLC's total available debt.


         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.

Date:  December 17, 2004

                                            Wynn Resorts, Limited

                                            By: /s/ Marc Schorr
                                                Marc Schorr
                                                Chief Operating Officer