US – Wynn axes Paradise Park lagoon projectBy Phil - 12 November 2018
Wynn Resorts has axed plans to develop Phase 2 of its planned Paradise Park which would have seen its 18-hole golf course replaced by a huge lagoon the size of almost 100 Olympic swimming pools at its Wynn and Encore casino-resorts on the Strip.
CEO Matt Maddox said: “That project was over $3bn and we always struggled with Phase 2 of Paradise Park. How are we going to make a room tower in a town with a lot of rooms along with a lagoon? We weren’t really interested in building a large public swimming pool for the Las Vegas Strip. So we just decided, let’s go with Phase 1. We know the convention center is going to work. It’s what Wynn Las Vegas needs. We purchased a far superior site, 38 acres of land on the Strip, to the off-Strip location of the golf course.
“We’ve reengaged Tom Fazio, who was the original designer of our golf course, to come in and take a look at the holes that were disrupted by this 400,000 square foot convention center. And see if we can design a new 18-hole golf course connected to Wynn and Encore. And have that back in action before our convention center opens. The design of that is complete. The work has commenced. And the golf course will be restored and back in action by this time next year.”
“It’s a great amenity for the resort,” Mr. Maddox added. “We lost 16,000 rounds of golf, 70 per cent of which were cash, but we lost probably $10m to $15m worth of domestic casino business from people coming in for golf trips that have decided to go elsewhere.
So now that we have the 38 acres of land on the Strip to develop the next great thing for Las Vegas, we can put our golf course back in as an amenity for the 10m square feet and the 4,700 rooms that we have here.”