Gaming | Wynn to build USD1.5 billion tropical lagoon in Las Vegas

Steve Wynn chairman and CEO of Wynn Resorts, and his team are now making the final touches to plans and permits for the USD1.5 billion tropical lagoon project, “Paradise Park”, in Las Vegas. The project is scheduled to begin at the end of this year or early 2018.

Paradise Park is intended to be a beach-style entertainment destination, consisting of a lagoon surrounded by white-sand beaches, a convention facility and hotel rooms. The lagoon will host watersports by day and fireworks at night, and is set to occupy 30 acres of the current 140 acres of real estate occupied by the Wynn Golf Club.

According to the Las Vegas Review Journal, in a recent conference call with investors, Wynn said that he is encouraged by receiving inquiries from other developers interested in partnering with Wynn Resorts to build on the 140 acres of land.

“That area is the most precious piece of real estate in the whole resort industry in Las Vegas,” Wynn said. “The conversations I’ve had have been very exciting and give me a lot of optimism about how we will continue over the next four to five years.”

In a statement released last year, Wynn said that he wants to reinvent Las Vegas and make the venue an entertainment attraction characterized by an idyllic beach paradise.

“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,” Wynn added.

A Forbes report last year suggested that the attraction would also include a giant King Kong figure. There will reportedly be two islands in the middle of the proposed lagoon. On one of these islands,  the King Kong figure will be installed.

“We will have an eight-story-tall [King] Kong who will make an appearance every day before the water shows,” said Wynn at a Couture Time exhibition in June last year.

Categories Business