Got to the Chase lounge around 9:30pm on a Saturday, to be told there are 50 people on the waitlist in front of me and not to expect to get in by their closing time of 11pm. I did end up getting a text 40 minutes later that my number was up, but by that point I was comfortably settled in at the Cap1 lounge and wasn't about to treck back.
For what it's worth, I was impressed with the Cap1 lounge. I got in immediately, there were plenty of places to sit, and the staff (both at check in and those picking up used dishware) were surprisingly polite. The food looked "elevated" although I was in no mood to eat after having gone to the buffet at Wynn earlier in the day.