{"id":49125,"date":"2017-04-26T16:01:05","date_gmt":"2017-04-26T23:01:05","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=49125"},"modified":"2017-04-26T16:01:59","modified_gmt":"2017-04-26T23:01:59","slug":"wynn-resorts-confirms-paradise-park-lagoon-project-systems-go","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/","title":{"rendered":"Wynn Resorts Confirms Paradise Park Lagoon Project is All-Systems-Go"},"content":{"rendered":"

Steve Wynn\u2019s plan to build a $1.5 billion lagoon complete with white sandy beaches and a new 1,000-room hotel-casino just off the Las Vegas Strip has been signed off by the Wynn Resorts board and has the full go-ahead.<\/p>\n

\"Steve
Steve Wynn has said that the planned Paradise Park is the \u201cmost fun\u201d project he\u2019s ever been involved in. Construction may start on the development as early as December this year. (Image: Boston Globe)<\/figcaption><\/figure>\n

Wynn delivered the news himself at an earnings call to discuss strong Q1 earnings, boosted by Macau\u2019s recent resurgence.<\/p>\n

The flamboyant Wynn Resorts chairman and CEO said that the company plans to start building the \u201cParadise Park\u201d development, its first since the completion of the Encore in 2008, as soon as December this year.\u00a0 \u00a0<\/span><\/p>\n

\u201cJust Like Disney\u201d<\/b><\/h2>\n
\n

“We’ve got all these great ideas that are going into this lagoon and this beach front property,” enthused Wynn. “We have no better use for our money. We keep $1.5 billion or $2 billion in the parent company and this would allow us to take the most conservative, but the most dynamic approach to creating this.”<\/strong><\/p>\n<\/blockquote>\n

It would provide a “tremendous uptick in the value of our surrounding real estate,” he added.<\/p>\n

The resort, which would nestle behind the Wynn and Encore resort towers on the Las Vegas Strip, where the Wynn Golf Club now stands, would be built in phases, said Wynn, although it\u2019s unclear how many. The first phase would include the lagoon, boardwalk, new convention space and food services.<\/p>\n

Speaking at his company\u2019s first ever investor day last year, Wynn said that the new resort would offer \u201cice cream and a fireworks show every night, just like Disney,\u201d while the lake would host waterskiing and paddle-boarding. It was the \u201cmost fun\u201d project he had ever been involved in, he added.<\/p>\n

China Resurgence<\/b><\/h2>\n

Wynn Resorts also updated analysts and shareholders on another project in the pipeline, the Wynn Boston Harbor, currently under construction in Everett, near Boston, Massachusetts<\/a>. The company said the total budget for the resort is estimated at $2.4 billion and it\u2019s expected to open mid-2019.<\/p>\n

Wynn Resorts<\/a>\u2019 shares closed up almost 6 percent on Wednesday, the day after the call, thanks to strong earnings. Wynn said its adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA) was up 42 percent in Q1, thanks to a resurgent Macau and a strong performance by the new Wynn Palace.<\/p>\n

\u201cWe’re enjoying a resurgence of activity at the top end in China,” Wynn said.\u00a0“People are settling back into routines that they’re comfortable with, and that includes, you know, going to Macau and buying a new car or shopping at Louis Vuitton.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn\u2019s plan to build a $1.5 billion lagoon complete with white sandy beaches and a new 1,000-room hotel-casino just off the Las Vegas Strip has been signed off by the Wynn Resorts board and has the full go-ahead. Wynn delivered the news himself at an earnings call to discuss strong Q1 earnings, boosted by […]<\/p>\n","protected":false},"author":42,"featured_media":49126,"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 Confirms Paradise Park Lagoon Project is All-Systems-Go<\/title>\n<meta name=\"description\" content=\"Steve Wynn says Paradise Park is signed off while reporting strong earnings, thanks to Macau\u2019s resurgence.\u00a0 \u00a0\" \/>\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 Confirms Paradise Park Lagoon Project is All-Systems-Go\" \/>\n<meta property=\"og:description\" content=\"Steve Wynn says Paradise Park is signed off while reporting strong earnings, thanks to Macau\u2019s resurgence.\u00a0 \u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/\" \/>\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=\"2017-04-26T23:01:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-04-26T23:01:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/23gambling05.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"670\" \/>\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-confirms-paradise-park-lagoon-project-systems-go\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/\",\"name\":\"Wynn Resorts Confirms Paradise Park Lagoon Project is All-Systems-Go\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/23gambling05.jpg\",\"datePublished\":\"2017-04-26T23:01:05+00:00\",\"dateModified\":\"2017-04-26T23:01:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Steve Wynn says Paradise Park is signed off while reporting strong earnings, thanks to Macau\u2019s resurgence.\u00a0 \u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-confirms-paradise-park-lagoon-project-systems-go\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/23gambling05.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/23gambling05.jpg\",\"width\":960,\"height\":670,\"caption\":\"Steve Wynn has said that the planned Paradise Park is the \u201cmost fun\u201d project he\u2019s ever been involved in. 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