LAS VEGAS, April 6, 2016 /PRNewswire/ -- Steve Wynn and Wynn Resorts 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.
About Wynn Resorts:
Wynn Resorts, Limited (Nasdaq:
WYNN) is traded on the Nasdaq Global Select Market under the
ticker symbol WYNN and is part of the S&P 500 and NASDAQ-100
Indexes. Wynn Resorts owns and operates Wynn and Encore Las Vegas
(www.wynnlasvegas.com) and Wynn and Encore Macau
(www.wynnmacau.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a
total of 4,748 spacious hotel rooms, suites and villas,
approximately 186,000 square feet of casino space, 34 food and
beverage outlets featuring signature chefs, two award-winning spas,
an on-site 18-hole golf course, meeting space, approximately 99,000
square feet of retail space as well as two showrooms; three
nightclubs and a beach club.
Wynn Macau is a luxury hotel and casino resort located in the
Macau Special Administrative Region of the People's Republic of China with two luxury
hotel towers with a total of 1,008 spacious rooms and suites,
approximately 284,000 square feet of casino space, casual and fine
dining in eight restaurants as well as two bars, approximately
57,000 square feet of retail space, two opulent spas, a salon and a
pool.
Wynn Resorts is currently constructing Wynn Palace, an
integrated resort in the Cotai area of Macau and has begun preparation for the
development and construction of Wynn Boston
Harbor located in Everett, Massachusetts.
Forward-looking Statements
This release contains forward-looking statements regarding
operating trends and future results of operations. Such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those we express in these forward-looking statements,
including, but not limited to, our dependence on existing
management, results of regulatory or enforcement actions and
probity investigations, pending or future legal proceedings,
uncertainties over the development and success of new gaming and
resort properties, adverse tourism trends, general global
macroeconomic conditions, changes in gaming laws or regulations,
volatility and weakness in world-wide credit and financial markets,
and our substantial indebtedness and leverage. Additional
information concerning potential factors that could affect the
Company's financial results is included in the Company's Annual
Report on Form 10-K for the year ended December 31, 2015 and the Company's other
periodic reports filed with the Securities and Exchange Commission.
The Company is under no obligation to (and expressly disclaims any
such obligation to) update or revise its forward-looking statements
as a result of new information, future events or otherwise.
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SOURCE Wynn Las Vegas