CA - Regional planners have approved a tentative proposal by casino
mogul Steve Wynn to build a 45-storey mega-resort on the site of
the old Desert Inn in Las Vegas, a planning spokesman said on August
Wynn, who as
former head of Mirage Resorts built the swanky Mirage and Bellagio
resorts on the Las Vegas Strip, bought the aging Desert Inn for
$270 million last year, about the time he sold Mirage Resorts to
MGM Grand to form MGM Mirage.
the domain of public companies, however, he has been tight-lipped
about his plans for his newest project.
Under the proposal
submitted by his company, Valvino Lamore, Wynn would construct a
514-foot-tall resort tower with 2,455 rooms and 15 formal dining
and entertainment venues on the Desert Inn site at Sands Avenue
on the Strip.
hints at a water theme with its inclusion
of a three-acre
swimming pool and four-acre man-made lake.
The resort would
also include many elements that have become staples for new Las
Vegas mega-resorts, including 70,000 square feet of retail shops,
132,000 square feet of meeting and convention space, two showrooms,
two chapels and 120,000 square feet of casino space.
an analyst at Jefferies & Co., said the resort's development could
mark the beginning of a new wave of casino building at the north
end of the Strip. The most recent construction wave ended last year
with the opening of the Aladdin, and included such other resorts
as Paris Las Vegas and the Venetian.
every two to five years waves of construction'' on the Strip, Klatzkin
said. "This is the beginning of the next wave. I'm fully confident
that Steve will be at the front of it.''