Wynn to start building Paradise Park this year

The new development on the Strip is worth US$1.6 billion.

US.- Steve Wynn announced that he’s hoping that the construction of the Paradise Park would start before the end of this year. Even though he said he’s focused on non-gaming attractions, the new development will include a 1000-room hotel-casino.

“I think we have nailed it down. I hope to take the business plan to our board of directors in the second quarter and be in a position to begin work in the fourth quarter,” Wynn said and confirmed that his fourth quarter revenue results are better than they expected, since, according to his analysts, they beat the estimated numbers. “This is the most fun project in my 45 years,” said Wynn. The casino will be featured in a 38-acre lake, along with a new 1,000-room hotel, additional nightlife and dining attractions and a small gaming floor on land where a golf course sits next to his two existing Strip casinos, Wynn Las Vegas and Encore. Visitors would have to pay admission.

The casino owner said that even though casino revenue is very important to his business, he wants to take his non casino revenue to enormously high levels, and considering that the occupancy at the Palace is running in the 90 percent occupancy range, the Paraside Park seems like a good option to boost his plans.