Wynn’s latest venture, Paradise Park, is not their sole construction project in Vegas. Having bought a piece of land across Las Vegas Blvd. from Wynn and Encore Casinos, the company is expanding its Nevada presence with a new establishment, Wynn West.
Wynn Resorts own stretch of land from Paradise to I-15
Once construction is finished on both Wynn West and Wynn Paradis Park, the company will essentially own a mega-resort. The four properties will stretch from the I-15 to Paradise Road, intersecting Las Vegas Blvd. in the process. The total area is about 280 acres, which is approximately equivalent to the size of 200 football fields.
During the company’s latest earnings call, Wynn revealed the new Wynn West project. The name is merely a placeholder, however, the plot of land it refers to is not.
Wynn has plans to transform the 38-acre lot into a standalone casino resort. In addition to gaming facilities, there are hopes to construct around 2,000 hotel rooms, as reported by TravelZork. When combined with the existing Wynn and Encore, this would total close to 7,000 rooms.
The rooms currently under construction in Paradise Park are not included in this count. As part of the plans, a 1,500-room hotel is being built, which will bring Wynn’s total room count to approximately 9,000. At present, there are roughly 125,000 rooms on the Las Vegas Strip.
The property, though a fully operational casino, will also serve as a connection to Wynn and Encore. Wynn, during the call, termed this connection as a “hallway”. However, with references to escalator access also made, the term pedestrian bridge might be more appropriate.
The objective is to install both a cover and air-conditioning in the hallway. If achieved, it would eradicate the discomfort of having to walk outdoors in the intense heat and humidity of the Las Vegas summer.
Wynn Paradise Park making progress
Wynn West will include gaming facilities, unlike Wynn Paradis Park which will not have a casino element. Construction on the property is set to begin this year.
The project’s centerpiece is a lagoon approximately three times larger than the lake in front of Bellagio Casino. Some aspects of the nightly entertainment on the lagoon, along with other project components, are still being decided upon.
Wynn is already making changes, planning to add even more convention space by creating a 450,000 square-foot convention center.
The emphasis on the meeting space and lagoon is a characteristic strategy of Wynn business. Steve Wynn, the founder of the casino company, takes great pride in generating non-gaming revenue at his properties, a long-standing successful strategy for him.
2017 was a great year for Wynn revenue
Most of Wynn’s recent call was to boast about the company’s fourth quarter and 2017 revenues. Everything was going well for Wynn. International properties, such as Wynn Palace, performed exceptionally well.
The company gained a benefit of $340 million due to US tax cuts. Consequently, it aims to begin distributing more bonuses to its employees.
Wynn Resorts reported a total revenue of $6.31 billion for 2017, marking a 41-percent increase from the $4.47 billion earned in 2016.
Positive revenues prompted Wynn to proceed with Paradise Park last year. This could be why the new property is currently set to be a casino, contrary to Wynn’s previous statement last month that it would be warehoused.
Image sourced from Shutterstock.com, photographed by Harald Schmidt.
