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Exhibit 10.2

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AMENDMENT TO LOAN AGREEMENT

Dated as of December 3, 2002

in respect of

WYNN LAS VEGAS, LLC,

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AMENDMENT
TO LOAN AGREEMENT

        AMENDMENT TO LOAN AGREEMENT (this "Amendment") dated as of December 3,
2002 is among Wynn Las Vegas, LLC, a Nevada limited liability company(the
"Borrower"), Wells Fargo Bank Nevada, National Association, a national banking
association, not in its individual capacity (except as specifically set forth
herein), but solely as collateral agent (the "Collateral Agent"), and each of
the Persons listed on the signature pages hereto as a Lender (each, a "Lender").

RECITALS:

        A.    The Borrower, the Collateral Agent, and the Lenders have
heretofore entered into that certain Loan Agreement (as amended, supplemented or
otherwise modified from time to time, the "Loan Agreement") dated as of
October 30, 2002. Capitalized terms used, but not otherwise defined in this
Amendment, shall have those meanings assigned to such terms in Appendix 1 to the
Loan Agreement, as amended by this Amendment.

        B.    The parties hereto desire to amend the Loan Agreement.

        NOW, THEREFORE, in consideration of good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the parties hereto do
hereby agree as follows:

SECTION 1.    AMENDMENTS TO LOAN AGREEMENT.

        Section 1.1.    Section 7.1(d) of the Loan Agreement shall be and is
hereby amended in its entirety to read as follows:

        "(d)    Maintenance of Net Worth.    Permit the Consolidated Net Worth
of the Borrower (i) at the first Quarterly Date to be less than the sum of (such
sum, the "Required First Quarter Net Worth") $900,000,000 and (x) if
Consolidated Net Income of the Borrower from the Document Closing Date through
the first Quarterly Date is less than or equal to zero, 100% of such negative
amount of such Consolidated Net Income or (y) if Consolidated Net Income from
the Document Closing Date through the first Quarterly Date is greater than zero,
75% of the positive amount of such Consolidated Net Income and (ii) at any
Quarterly Date subsequent to the first Quarterly Date to be less than the sum of
the Required First Quarter Net Worth plus an amount equal to the sum of 75% of
Consolidated Net Income of the Borrower for each fiscal quarter ending after the
first Quarterly Date through such Quarterly Date."

        Section 1.2.    Section 7.8(e) of the Loan Agreement shall be and is
hereby amended by deleting "Group 1 Entity" and substituting therefor "Wynn
Group Entity".

        Section 1.3.    Section 7.9 of the Loan Agreement shall be and is hereby
amended by deleting the "(i)" in the 13th line thereof and the "(a)" in the 16th
line thereto.

        Section 1.4.    Section 7.10 of the Loan Agreement shall be and is
hereby amended by deleting the period at the end of subparagraph (f) thereof and
substituting therefor a semicolon and the word "and", and adding the following
as a new subparagraph (g) thereto to read as follows:

        "(g) associated with the use of the Aircraft for any purpose not
reasonably related to the Project or the Project-related Permitted Businesses of
the Borrower, Las Vegas Jet or World Travel, in which case the Borrower, Las
Vegas Jet or World Travel, as the case may be, shall be reimbursed promptly for
all actual costs and expenses incurred by such Loan Party in connection with
such use."

        Section 1.5.    Section 7.15 of the Loan Agreement shall be and is
hereby amended by deleting "Subject to Sections 7.24 and 7.25," in the first
line thereof.

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        Section 1.6.    Section 7.16(c) of the Loan Agreement shall be and is
hereby amended in its entirety to read as follows:

        (c)  Amend, waive or otherwise change, or permit any amendment or waiver
of, the terms of either the Intercompany Note or, except as provided in
Section 9.2 of the Aircraft Security Agreement, the Aircraft Security Agreement
or permit the termination thereof.

        Section 1.7.    Section 7.23 of the Loan Agreement shall be and is
hereby amended by deleting "Administrative Agent" and substituting therefor
"Collateral Agent".

        Section 1.8.    (a)    Appendix 1 of the Loan Agreement shall be and is
hereby amended by amending and restating in their entirety the definitions of
"Aircraft" and "Eurodollar Rate" to read as follows:

        "Aircraft" shall mean the Existing Aircraft and, after the Disposition
of the Existing Aircraft in accordance with Section 7.5(p) of the Loan
Agreement, the Replacement Aircraft in the event the Replacement Aircraft is
acquired pursuant to Section 7.5(p)(iii)(B).

        "Eurodollar Rate" shall mean with respect to each day during each
Interest Period pertaining to a Eurodollar Loan, a rate per annum equal to
(a) the applicable London interbank offered rate per annum for deposits in
Dollars appearing on Telerate Page 3750 as of 11:00 a.m. (London time) two
(2) Business Days prior to the first day of such Interest Period; or if no
London interbank offered rate of such maturity then appears on Telerate Page
3750, then the rate equal to the London interbank offered rate per annum for
deposits in Dollars maturing immediately before or immediately after such
maturity, whichever is higher, as determined by the Collateral Agent from
Telerate Page 3750; or if Telerate Page 3750 is not available, the applicable
LIBO Rate for the relevant Interest Period shall be the rate per annum
determined by the Collateral Agent to be the arithmetic average of the rates at
which the Collateral Agent offers to place deposits in Dollars with first-class
banks in the London interbank market at approximately 11:00 a.m. (London time)
two (2) Business Days prior to the first day of such Interest Period, in the
approximate amount of the aggregate outstanding principal amount of such
Eurodollar Loan and having a maturity approximately equal to such Interest
Period, divided (and rounded upward to the nearest 1/16 of 1%) by (b) a
percentage equal to 100% minus the "Eurocurrency Reserve Requirements."

        (b)  Appendix 1 of the Loan Agreement shall be and is hereby further
amended by adding in alphabetical order the following definition of
"Consolidated Interest Coverage Ratio" to read as follows:

        "Consolidated Interest Coverage Ratio" shall mean for any period, the
ratio of (a) Consolidated EBITDA of the Borrower and its Subsidiaries for such
period to (b) Consolidated Interest Expense of the Borrower and its Subsidiaries
for such period.

SECTION 2.    WAIVER.

        Notwithstanding the terms of Section 6.1(b) of the Loan Agreement, upon
the effectiveness of this Amendment as set forth in Section 3 hereof, the
failure of the Borrower to deliver the unaudited consolidated and consolidating
balance sheets and the related unaudited consolidated and consolidating
statements of income and of cash flows for the quarter ending September 30, 2002
within the time period and in the form required in such Section 6.1(b), shall
not constitute a Default under the Loan Agreement; provided, that such balance
sheets and statements of income and of cash flows for such quarter are delivered
in the required form to the Collateral Agent and each Lender on or prior to
December 15, 2002.

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SECTION 3.    EFFECTIVENESS.

        This Amendment shall become effective on December 3, 2002 (the
"Effective Date") upon the satisfaction of the following conditions precedent:

        (a)  This Amendment and all other agreements and instruments related
thereto shall have been duly authorized, executed and delivered by each of the
parties thereto, shall be in form and substance satisfactory to each party
thereto and an executed counterpart of each thereof shall have been received by
each of the parties thereto. After giving effect to this Amendment, the
Operative Documents shall be in full force and effect as to all parties and no
Default or Event of Default shall have occurred or be continuing.

        (b)  Since October 30, 2002, there shall have been no Material Adverse
Effect.

SECTION 4.    FEES AND EXPENSES.

        Borrower agrees to pay all the reasonable fees and expenses of the
Collateral Agent and the Lenders (including the reasonable expenses of their
respective counsel) in connection with the negotiation and preparation of this
Amendment.

SECTION 5.    MISCELLANEOUS.

        Section 5.1.    Guarantor Obligations.    Each Guarantor hereby ratifies
and affirms in all respects its obligations under its guaranty and acknowledges
that such guaranty shall remain in full force and effect.

        Section 5.2.    Construction.    This Amendment shall be construed in
connection with and as part of the Loan Agreement, and except as modified and
expressly amended by this Amendment, all terms, conditions and covenants
contained in the Loan Agreement are hereby ratified and shall be and remain in
full force and effect.

        Section 5.3.    Headings and Table of Contents.    The headings of the
Sections of this Amendment are inserted for purposes of convenience only and
shall not be construed to affect the meaning or construction of any of the
provisions hereof and any reference to numbered Sections, unless otherwise
indicated, are to Sections of this Amendment.

        Section 5.4.    References.    Any and all notices, requests,
certificates and other instruments executed and delivered after the execution
and delivery of this Amendment may refer to the Loan Agreement without making
specific reference to this Amendment but nevertheless all such references shall
be deemed to include this Amendment unless the context otherwise requires.

        Section 5.5.    Counterparts.    This Amendment may be executed in any
number of counterparts, each executed counterpart constituting an original but
all together only one Amendment.

        Section 5.6.    Governing Law.    This Amendment shall be governed by
and construed in accordance under the laws of the State of New York without
regard to conflict of law principles (other than Title 14 of Article V of the
New York General Obligation Law).

[Signature Pages begin on Next Page]

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        Executed and delivered as of this 3 day of December, 2002.

    WYNN LAS VEGAS, LLC,
a Nevada limited liability company,
as the Borrower
 
 
By:
 
Wynn Resorts Holdings, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
 
 
By:
 
Wynn Resorts, Limited,
a Nevada corporation,
its sole member
 
 
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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                Name: Marc H. Rubinstein                 Title: General Counsel
& Secretary

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        Accepted and agreed to as of the date last above written.

    BANK OF AMERICA, N.A., as Lender
 
 
By
 
/s/  SCOTT FABER      

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        Name: Scott Faber         Title: Managing Director

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        Accepted and agreed to as of the date last above written.

    BANK OF AMERICA, N.A., as Lender
 
 
By
 
/s/  PETER J. VITALE      

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        Name: Peter J. Vitale         Title: Vice President

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        Accepted and agreed to as of the date last above written.

    SOCIETE GENERALE, as Lender
 
 
By
 
/s/  THOMAS K. DAY      

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        Name: Thomas K. Day         Title: Managing Director

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        Accepted and agreed to as of the date last above written.

    GENERAL ELECTRIC CAPITAL CORPORATION, as Lender
 
 
By
 
/s/  RICHARD J. O'NEILL      

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        Name: Richard J. O'Neill         Title: Vice President Risk, Capital
Funding Group

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        Accepted and agreed to as of the date last above written.

    THE CIT GROUP/EQUIPMENT FINANCING, INC., as Lender
 
 
By
 
/s/  FRANK O. YOUNG      

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        Name: Frank O. Young         Title: Sr. Vice President

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        Accepted and agreed to as of the date last above written.

    DEUTSCHE BANK TRUST COMPANY AMERICAS, as Lender
 
 
By
 
/s/  GEORGE R. REYNOLDS      

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        Name: George R. Reynolds         Title: Vice President

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        Accepted and agreed to as of the date last above written.

    BEAR, STEARNS CORPORATE LENDING INC., as Lender
 
 
By
 
/s/  VICTOR BULZACCHELLI      

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        Name: Victor Bulzacchelli         Title: Authorized Signatory

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        Accepted and agreed to as of the date last above written.

    GMAC COMMERCIAL MORTGAGE CORPORATION, as Lender
 
 
By
 
/s/  JOHN HOPKINS      

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        Name: John Hopkins         Title: Vice President

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    WELLS FARGO BANK NEVADA, NATIONAL ASSOCIATION, as Collateral Agent
 
 
By
 
/s/  NANCY M. DAHL      

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        Name: Nancy M. Dahl         Title: Trust Officer

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        Each of the undersigned hereby further confirms its continued guaranty
of the obligations of the Borrower under the Loan Agreement, as amended hereby,
pursuant to the terms of its guaranty on this 3 day of December, 2002.

    WYNN RESORTS, LIMITED,
a Nevada corporation
 
 
By
 
/s/  MARC H. RUBINSTEIN      

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        Name: Marc H. Rubinstein         Title: Senior Vice President, General
Counsel & Secretary
 
 
VALVINO LAMORE, LLC,
a Nevada limited liability company,     By:   Wynn Resorts, Limited,
a Nevada corporation,
its sole member
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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            Name: Marc H. Rubinstein             Title: Senior Vice President,
General Counsel & Secretary
 
 
WYNN LAS VEGAS CAPITAL CORP., a Nevada corporation,
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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        Name: Marc H. Rubinstein         Title: Secretary
 
 
PALO, LLC,
a Delaware limited liability company,
 
 
By:
 
Wynn Resorts Holdings, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
 
 
By:
 
Wynn Resorts, Limited,
a Nevada corporation,
its sole member
 
 
 
 
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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                    Name: Marc H. Rubinstein                     Title: Senior
Vice President, General Counsel & Secretary

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DESERT INN WATER COMPANY, LLC,
a Nevada limited liability company,
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
By:
 
Wynn Resorts, Limited,
a Nevada corporation,
its sole member
 
 
 
 
By:
 
 
 
 
 
 
 
              /s/  MARC H. RUBINSTEIN      

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            Name: Marc H. Rubinstein             Title: Senior Vice President,
General Counsel & Secretary
 
 
WYNN RESORTS HOLDINGS, LLC,
a Nevada limited liability company,
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
By:
 
Wynn Resorts, Limited,
a Nevada corporation,
its sole member
 
 
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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                Name: Marc H. Rubinstein                 Title: Senior Vice
President, General Counsel & Secretary
 
 
WYNN DESIGN & DEVELOPMENT, LLC,
a Nevada limited liability company,
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
By:
 
Wynn Resorts, Limited,
a Nevada corporation,
its sole member
 
 
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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                Name: Marc H. Rubinstein                 Title: Senior Vice
President, General Counsel & Secretary

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WORLD TRAVEL, LLC,
a Nevada limited liability company,
 
 
By:
 
WYNN LAS VEGAS, LLC,
a Nevada limited liability company,
 
 
 
 
By:
 
Wynn Resorts Holdings, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability
company, its sole member
 
 
 
 
 
 
 
 
By:
 
Wynn Resorts, Limited, a
Nevada corporation, its sole
member
 
 
 
 
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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                    Name: Marc H. Rubinstein                     Title: Senior
Vice President, General Counsel & Secretary
 
 
LAS VEGAS JET, LLC,
a Nevada limited liability company,
 
 
By:
 
WYNN LAS VEGAS, LLC,
a Nevada limited liability company,
 
 
 
 
By:
 
Wynn Resorts Holdings, LLC,
a Nevada limited liability company,
its sole member
 
 
 
 
 
 
By:
 
Valvino Lamore, LLC,
a Nevada limited liability
company, its sole member
 
 
 
 
 
 
 
 
By:
 
Wynn Resorts, Limited, a
Nevada corporation, its sole member
 
 
 
 
 
 
 
 
By:
 
/s/  MARC H. RUBINSTEIN      

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                    Name: Marc H. Rubinstein                     Title: Senior
Vice President, General Counsel & Secretary

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AMENDMENT TO LOAN AGREEMENT