{"id":44315,"date":"2017-01-27T15:00:38","date_gmt":"2017-01-27T23:00:38","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=44315"},"modified":"2017-01-27T14:12:54","modified_gmt":"2017-01-27T22:12:54","slug":"wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/","title":{"rendered":"Wynn Resorts Hoping to Break Ground on $1.5 Billion \u201cParadise Park\u201d This Year"},"content":{"rendered":"

Wynn Resorts is wasting no time in building its own version of paradise on earth.<\/p>\n

Steve Wynn announced he hopes to begin construction of his \u201cParadise Park\u201d before the end of this year, as he reiterated that his company\u2019s future lies in non-gaming attractions.<\/p>\n

\"Wynn
Steve Wynn can barely conceal his excitement about the $1.5 billion Wynn Paradise Park, as he emphasizes that the future of Wynn Resorts lies in non-gaming attractions. (Image: CNBC.com)<\/figcaption><\/figure>\n

Wynn Resorts plans to spend $1.5 billion transforming the Wynn Golf Club into a 38-acre lagoon surrounded by sandy beaches. A new 1,000-room hotel-casino will overlook the lake, offering restaurants and nightlife attractions.<\/p>\n

Wynn could barely conceal his excitement when he announced the project last April. There would be water skiing and paddle-boarding, he said, and \u201cice cream and a fireworks show every night, just like Disney.\u201d<\/p>\n

\u201cThis is the most fun project in my 45 years,\u201d he enthused. \u201cSomebody take the other side, tell me what\u2019s wrong with this idea? We\u2019ve all drunk the Kool-Aid.\u201d<\/b><\/em><\/p>\n

\u201cI Think We Nailed It\u201d<\/h2>\n

Nine months on, and he\u2019s still bursting to get started. \u201cI think we have nailed it down,\u201d he told investors and analysts during a Q4 earnings call this week. \u201cI 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.\u201d<\/p>\n

If it goes ahead as planned, the resort will nestle behind the Wynn and Encore resort towers that face the Las Vegas Strip. It would be Wynn\u2019s first major Las Vegas development since the Encore opened in 2008.<\/p>\n

\n

The projected revenues of the Paradise Park would dwarf those of the Wynn Golf Club it plans to replace. The golf club pulls in around $5 million per year, while the company believes the proposed resort would take in $300 to $400 million per year.<\/strong><\/p>\n<\/blockquote>\n

\u201cWe want to take our non-casino revenue to enormously high levels,\u201d said Wynn.<\/p>\n

Wynn Palace Bolsters Revenue<\/b><\/h2>\n

The performance of the new Wynn Palace Macau<\/a> has proved to be a vindication of that philosophy. The resort, heavy on non-gaming attractions and amenities, helped push the company to better-than-expected revenues for 2016 with its \u201cvery good mass market success,\u201d in Wynn\u2019s words.<\/p>\n

The casino mogul said the Wynn Palace had been generating $1.6 million in operating income every day since the start of the year, just four months after opening. It took the Wynn Macau a year to generate $1 million a day, he said.<\/p>\n

“The long-term thrust of China is inexorable and undeniable, and that’s why we built what we built and we’re going to build more in the future,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wynn Resorts is wasting no time in building its own version of paradise on earth. Steve Wynn announced he hopes to begin construction of his \u201cParadise Park\u201d before the end of this year, as he reiterated that his company\u2019s future lies in non-gaming attractions. Wynn Resorts plans to spend $1.5 billion transforming the Wynn Golf […]<\/p>\n","protected":false},"author":42,"featured_media":44320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nWynn Resorts Hoping to Break Ground on $1.5 Billion \u201cParadise Park\u201d This Year<\/title>\n<meta name=\"description\" content=\"Wynn Paradise Park could get the go-ahead before the end of 2017, said Steve Wynn during a Wynn Resorts conference call this week.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Resorts Hoping to Break Ground on $1.5 Billion \u201cParadise Park\u201d This Year\" \/>\n<meta property=\"og:description\" content=\"Wynn Paradise Park could get the go-ahead before the end of 2017, said Steve Wynn during a Wynn Resorts conference call this week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-27T23:00:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-01-27T22:12:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/01\/101621477-464645891.530x298.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"530\" \/>\n\t<meta property=\"og:image:height\" content=\"298\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/\",\"name\":\"Wynn Resorts Hoping to Break Ground on $1.5 Billion \u201cParadise Park\u201d This Year\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/01\/101621477-464645891.530x298.jpg\",\"datePublished\":\"2017-01-27T23:00:38+00:00\",\"dateModified\":\"2017-01-27T22:12:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Wynn Paradise Park could get the go-ahead before the end of 2017, said Steve Wynn during a Wynn Resorts conference call this week.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-hoping-break-ground-1-5-billion-paradise-park-year\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/01\/101621477-464645891.530x298.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/01\/101621477-464645891.530x298.jpg\",\"width\":530,\"height\":298,\"caption\":\"Steve Wynn can barely conceal his excitement about the $1.5 billion Wynn Paradise Park, as he emphasizes that the future of Wynn Resorts lies in non-gaming attractions. 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