Wynn Paradise Park Work To Start Late This Year, Early Next

It will have the only recreational lake on the Strip - a 38-acre lagoon that will host water sports, and entertainment day and night. There will be a boardwalk, meeting space, and ballrooms. And work should begin by the end of this year or early next.

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That's the word from developer Steve Wynn who announced on Tuesday that work is expected to begin on his newest property, Paradise Park in either December of this year or January of next year. The opening would then be about one year later.

Wynn made the announcement during an earnings call with investors.

What's no longer in the plans, for now anyway, is the 1,000-room hotel tower that was part of the original proposal.

The company, Wynn said, has decided to take a "conservative but dynamic" approach to the project, which will be built on the site of a golf course between two of his properties.

"We would masterplan the entire event and build beach-front meeting space, ballrooms, cabanas and pools that represented the certain need we had at the moment," Wynn said.

Wynn said the lagoon will be 1,500 feet long, 800 feet wide, and have a 4,000-foot boardwalk with white sand beaches.

He says focusing on the lagoon and surrounding amenities will "energize the real estate.

"We’d build at first the part that would immediately power up our existing restaurants, our existing casino, our existing convention and meeting and catering operation with an absolute certain return on that investment of in excess of 10 or 15 percent."