(Adds company comment, analyst comment, stock price, byline)

By Deena Beasley

LOS ANGELES, Feb 3 (Reuters) - Casino operator Wynn Resorts Inc (WYNN.O: Quote, Profile, Research) said on Tuesday it would cut the wages of its salaried workers in Las Vegas and reduce work weeks for its full-time hourly employees to avoid cutting jobs.

"In effect, everybody makes a little bit less money, but everyone keeps their job," Chairman and Chief Executive Steven Wynn said on a conference call with analysts and investors. "We don't want anybody on unemployment here."

Competitors like MGM Mirage (MGM.N: Quote, Profile, Research), Las Vegas Sands Corp (LVS.N: Quote, Profile, Research) and Harrah's Entertainment [HAMLEH.UL] have been laying off workers as recession-weary consumers and businesses cut back on extras like travel and gambling.

Wynn, which recently opened a second casino on the Las Vegas Strip, said it would eliminate 2009 bonuses and suspend its program of matching 401-K retirement plan contributions.

Wynn expects to save $75 million to $100 million annually.

In December, the company opened the $2.3 billion, 2,000-room Encore, which is adjacent to Wynn Las Vegas, the company's 3-year-old luxury casino hotel.

"We spent a ton of money in November, December and January getting this place off the ground," Wynn said. "These expenses occurred, of course, at a time when the economy of America, and Las Vegas in particular, was softening."