Wynn Resorts Realizes Golf, Not Lagoons, Is More Profitable
Paradise Park development project will have golf course restored instead of creating a man-made lagoon.
The last thing Las Vegas needs is another gaming establishment, which is why when Wynn Resorts (NASDAQ: WYNN) announced in 2016 that it would be digging up its famed 18-hole golf course to build a broad entertainment park a casino wasn't going to be front and center.
Paradise Park would be built behind the Wynn Las Vegas resort and Encore hotel, and would feature a 20-acre lagoon where guests could water-ski, paddleboard, and parasail during the day and enjoy massive fireworks displays from a man-made island in the middle at night. There would also be white sand beaches, a boardwalk, a 1,000-room hotel tower, a convention center, and restaurants. Okay, there was also going to be a small casino, but the development project wasn't about gaming.
As then-CEO Steve Wynn declared, "I don't give a damn if they put a nickel in a slot machine. I want them to pay my admission. I want them to stay in my rooms. I want them to drink my booze and eat our food."
(@)[email protected] (Rich Duprey)
Published on 13 Nov 2018 at 02:46AM