Steve Wynn reportedly told investors and analysts during a call on Thursday, that Wynn Resorts Ltd. hopes to begin construction of its expansive new development in Las Vegas, Paradise Park, before the year’s end, according to the Las Vegas Review-Journal.
During the call, which was to discuss the company’s fourth-quarter results, Wynn Resorts’ CEO and Chairman of the Board, reportedly said, “I hope to take the business plan to our board of directors in the second quarter and be in a position to begin work in the fourth quarter.” According to the report, Wynn was referring to the proposed 38-acre lagoon attraction, surrounded by a 1,000-room hotel tower and convention center on the Strip.
In April last year, Wynn presented the proposal to investors, for the then tentatively titled Wynn Paradise Park, which would be built on 130 acres that the golf course currently calls home just east of Encore and Wynn Las Vegas. And while the current report doesn’t mention a price tag for the project, Wynn indicated at the time that the cost could be as much as $1.6 million. He said last year that the function of Paradise Park will be mainly as an entertainment attraction, which will center on the lagoon and its white sand beach island in the middle and boardwalk.
Echoing his comments last year, Wynn reportedly stressed the importance of non-gaming attractions and said that those attractions are what bring people to the gambling tables. While explaining the concept of the project, Wynn reportedly said, “We want to take our noncasino revenue to enormously high levels.”