Wynn’s new Paradise Park is not the only Vegas construction project the company is undertaking. After purchasing the lot on the other side of Las Vegas Blvd. from the Wynn and Encore Casinos, the group is expanding with another Nevada casino called Wynn West.
Wynn Resorts own stretch of land from Paradise to I-15
When construction on both Wynn West and Wynn Paradis Park is complete, the company will have what amounts to a mega-resort. The quartet of properties will extend from the I-15 all the way to Paradise Road, crossing Las Vegas Blvd. along the way. It amounts to 280 acres total. To put that in perspective, it is roughly the size of 200 football fields.
Wynn announced the new Wynn West project as part of the company’s most-recent earnings call. The name is just a placeholder, but it turns out the plot of land is not.
The 38-acre lot will eventually be its own casino resort. Along with gaming, Wynn hopes to build approximately 2,000 hotel rooms, according to TravelZork. Combined with Wynn and Encore, that amounts to nearly 7,000 rooms.
That is not counting the rooms being built in Paradise Park either. With a 1,500-room hotel as part of the plans, Wynn will have around 9,000 rooms. There are currently around 125,000 rooms across the Las Vegas Strip.
While the property will be a fully functional casino in its own right, it will connect to Wynn and Encore. On the call, Wynn referred to the connection as a “hallway.” However, they also referenced escalator access, so the better term is probably pedestrian bridge.
The plan is to both cover and air-condition the hallyway. If it happens, it eliminates what can be a very hot and sweaty outdoor walk in the Las Vegas summer heat.
Wynn Paradise Park making progress
Wynn West will feature gaming, but the gaming-less Wynn Paradis Park will not feature a casino element. Construction on the property is starting this year.
The centerpiece of the project is a lagoon that is around three times the size of the lake in front of Bellagio Casino. Some elements regarding the the nightly entertainment on the lagoon are in flux, as are other elements of the project.
One aspect that is already changing is there will be even more convention space. Wynn now plans to create a 450,000 square-foot convention center.
The focus on the meeting space and lagoon are classic Wynn business moves. The casino company’s founder Steve Wynn prides himself on bringing in non-gaming revenue at his properties, which has long been a winning formula for him.
2017 was a great year for Wynn revenue
The majority of Wynn’s latest call was for the company to brag about its revenues for the fourth quarter as well as 2017. Everything was coming up roses for the Wynn. The international properties like Wynn Palace performed extraordinarily well.
Additionally, the company benefitted $340 million thanks to the US tax cuts. The company hopes to start issuing more bonuses to employees as a result.
Total revenue for 2017 came in at $6.31 billion for Wynn Resorts. That is a 41-percent increase from the $4.47 billion it took in in 2016.
North StripPositive revenues is what led Wynn to move forward on Paradise Park last year. Perhaps that is why the new property is now on track to become a casino instead of being warehoused, as Wynn had previously claimed last month.
Photo by Harald Schmidt / Shutterstock.com
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