Wynn Resorts is planning a Las Vegas retail mall with some 75,000 square feet of rentable space that will go through the area where the Ferrari dealership at the Wynn-Encore complex used to be.
CEO Steve Wynn said he believes it will generate as much as $25 million a year in new earnings and will probably cost about $70 million. The company is not yet ready to supply other details.
Wynn said the “complexity” of ongoing development in Macau where the central government has decreed that there should be less emphasis on gaming has caused the company to look more closely at some of its other assets that are already under the company’s control.
“We’ve got a lot of options here that make he company exciting,” he said.
The 130 acres or so dedicated to the company’s Las Vegas golf course provides a huge opportunity for further development of other features such as convention facilities.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: [email protected].