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Wynn finalizing the mega-billion Paradise Park project in Las Vegas

Wynn and associates are laying on the final touches on blueprints, plans and permits for the first phase of the $1.5 billion-worth Paradise Park project in Las Vegas strip.

Ronald Delos Santos

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Wynn Paradise Park Lagoon Las Vegas

[mkdf_dropcaps type=”normal” color=”red” background_color=””]B[/mkdf_dropcaps]usiness magnate Steve Wynn and his hired architects, developers and interior designers are laying on the final touches on drawings, plans and permits for the first phase of the $1.5 billion-worth Paradise Park project, scheduled to break ground either later this year or in early 2018.

The man-made tropical lagoon in Las Vegas project will include of course a lagoon for water sports activities, surrounded by white-sand beaches, a convention facility and new additional hotel rooms.

Casino mogul Steve Wynn, the chairman and CEO of Wynn Resorts Ltd., made a statement on Tuesday, July 25, in a conference call with the Wynn Resorts board and investors.

Wynn stated that he is enthusiastically encouraged by receiving inquiries from other real-estate developers interested in partnering to build on 140 acres land property between the existing resort presence and Paradise Road frontage.

“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 gives me a lot of optimism about how we will continue over the next four to five years.”

The American real estate businessman and art collector, known for his involvement in the American luxury casino and hotel industry, also said the firm’s newest improvement at the sports book on the north end of the Las Vegas property would be launched on Friday, July 27.

“The entire north end will look different. We’ll have a new bar and new VIP seating. None of these hotels stay the same. If you’re not growing, you’re going backward.”

The Clark County had recently issued a permit for a $500,000 project at the said real-estate property.

Wynn Resorts Limited revenue increases by 44.5 percent thanks to the boosts in operations at the Wynn Macau and in Las Vegas to post second-quarter earnings that surpassed Wall Street expectations.

The revenue increase to $1.53 billion for the second quarter of the year that ended in June 30 was primarily accredited to $414.7 million revenue generated by the Wynn Palace near the Cotai Strip in Macau.

Wynn said, during the company’s earnings call with the investors, that the earnings could have been even better in Asia had it not been for frustrating construction projects that keep foot traffic away from the Wynn Palace.

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