Friday, Nov. 12, 2004 | 10:48 a.m.
Wynn Resorts Ltd. is exploring a long-range plan to develop 142 acres behind its Wynn Las Vegas resort into a "large, mixed-use" hotel, casino and residential resort complex, the company said today.
If built, the project probably wouldn't begin construction before 2008, the company said in a filing with the Securities and Exchange Commission.
The land, the site of the former Desert Inn golf course, will initially be used as an 18-hole golf course for guests of Wynn Las Vegas, the filing said. The mixed-use plan may include multiple waterfront hotels built around a lake offering water sports and other entertainment. The complex also would offer multiple restaurants, retail offerings and "show venues."
The announcement comes on the heels of MGM Mirage's announcement this week that it intends to capitalize on growing demand for high-rise residential living in Las Vegas.
MGM Mirage said Wednesday it would begin construction in 2006 on a mixed-use concept called "CityCenter" at the site of its Boardwalk casino on the Strip. The project would include three boutique hotels, a 4,000-room casino resort and 1,650 condominium units at a cost of about $3 billion to $4 billion.
Wynn Resorts hasn't yet begun to develop specific plans for the mixed-use site "and there can be no assurance that plans will be developed," the filing said. The company can't predict the cost of the plan or whether it would be able to finance the project.
Wynn Resorts representatives could not be reached for comment.
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