Steve Wynn and Wynn Resorts (WYNN) Announce Plans to Build Recreational Lake on Las Vegas Strip

Steve Wynn and Wynn Resorts (Nasdaq: WYNN) discussed plans at an investor conference today for a new entertainment destination built around a first-ever recreational lake concept. The development is subject to approval by the company's Board of Directors and will include a 38 acre lagoon, surrounded by premium meetings and convention space, a 1,000 room hotel tower, a small casino and extensive dining and nightlife. The elaborate water attraction will include both daytime and nighttime entertainment elements.

"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," said Steve Wynn chairman and CEO of Wynn Resorts. "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."

Tentatively called Wynn Paradise Park, the expansion will be constructed on approximately 130 acres of real estate that currently houses the Wynn Golf Club. The proposed lagoon will be lined by a pristine white sand beach and boardwalk and feature an array of daytime activities including water skiing, paddle boarding and parasailing. At night, the space will transform with an elaborate fireworks display that is launched from the 120 ft. center island and surrounding areas.

Wynn Paradise Park will add 260,000 square feet of premium meetings space with unobstructed views of the waterfront, spacious guest rooms with a separate bedroom, living room and balcony, and a variety of restaurants, including an expansion of the current Country Club restaurant.

In addition, the resort is also developing Wynn Plaza, an expansive retail complex featuring 75,518 square feet of luxury retail space. Debuting fall 2017, the uniquely designed complex will augment the existing luxury retail collection currently showcased at Wynn Las Vegas and Encore as well as bring the shopping experience to the high traffic area bordering Las Vegas Blvd.

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