Wednesday, Jan. 5, 2005 | 10:52 a.m.
Wynn Resorts Ltd. intends to lease a "villa suite" at the upcoming Wynn Las Vegas megaresort to company Chief Executive Steve Wynn and his wife, Elaine, a company director.
The rent, based on a "fair market value" determined by the audit committee of the company's board of directors, will be $580,000 in the first year, according to a Securities and Exchange Commission filing. The committee will determine the rental rate in each subsequent year.
The year-to-year lease will begin when the Wynns occupy the suite or when the resort opens.
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