LAS VEGAS— After a hard fought battle for funding, Steve Wynns newest mega-resort, $1.85 billion Le Reve, finally broke ground yesterday on the Las Vegas Strip. Joined by a few hundred family members, friends and business associates, Wynn said Le Reve— which is French for The Dream— and its recently completed financing deal represent a vote of confidence in the future of Las Vegas. “Turning dreams into reality seems to be a hometown sport,” Wynn said, “and Im a homeboy. Its a most significant day for Las Vegas and for the state of Nevada.” Wynn also took time to thank his business partner, Japanese corporate chief Kazuo Okada, controlling owner of gaming-device maker Aruze Corp., who invested $380 million in Wynn Resorts. Nevadas two senators, John Ensign and Harry Reid, opened Thursdays ceremony, lauding Wynns place as the states most significant business leader. The invited guests gathered at the northern end of the planned Le Reve site, just south of the remaining Desert Inn buildings, where Wynn addressed the gathering. Dozens of Wynn Resorts workers gathered with shovels in hand, ready to collectively take the figurative first steps of the planned 30-month project. Wynn Resorts expects to have 8,000 employees by the time of its scheduled opening in April 2005. SOURCE: Las Vegas Review Journal
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