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Wynn plans L.V. expansion

May 4, 2004 4:54 AM

Casino entrepreneur Steve Wynn hasn’t yet opened his $2 billion Wynn Resort on the site of the former Desert Inn on the Las Vegas Strip but already he has set in motion an expansion plan that will cost about $198 million.

In a Business Wire report on Monday, Wynn announced the following highlights:

”¡ An additional showroom

”¡ 18 additional fairway villa suites adjacent to the golf course.

”¡ Improvement and refinements to the design of Wynn Las Vegas, and the acquisition by Wynn Lass Vegas of 10 lots adjacent to the former Desert Inn golf course that were recently acquired by the company.

”¡ Expanded parking facilities for Wynn Las Vegas.

”¡ Demolition of the remaining structures of the former Desert Inn to prepare for the future development of an additional casino, hotel tower and related amenities on the site.

The total cost of these improvements, according to the announcement will approximate $198 million that includes both interest and financing fees. Part of the project will be financed through "an equity contribution to Wynn Las Vegas by the company," the company said.

The improvements are expected to be completed by the April 2005 opening of Wynn Las Vegas.