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Steve Wynn to spend $1.6 billion on new lake resort

American entrepreneur Steve Wynn, the man responsible for Wynn Resorts, among numerous other luxury hotels and casinos, plans to invest $1.6 billion in a new lake resort, which will be situated behind the Wynn and Encore casinos. Residing just off the Las Vegas strip, the golf course-turned-resort will offer white sand beaches, a lake, a mile-long boardwalk, ice cream and nightly fireworks shows.

Whereas the current golf course behind the Wynn and Encore casinos rakes in around $5 million each year, Wynn’s latest venture -– to be called Paradise Park –- has the potential to reel in between $300 and $400 million per year.

Wynn excitedly explained to investors, “We have a chance to reinvent Las Vegas and make the whole venue an entertainment attraction … an idyllic beach paradise surrounded by white sand beaches. People come to Las Vegas from all over the world to live large and have a good time and we can dish up an irresistible entertainment attraction.”

Marking the hotel magnate’s first major project since the introduction of Encore Las Vegas in 2008, Paradise Park will contain 1,000 rooms, a number of high-end restaurants, a casino and a nightclub to boot.

Via: Vegas Issues


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