Wynn’s Le Reve To Prompt Further Strip Development

LAS VEGAS— Steve Wynns $2 billion Le Reve project is expected to spur new Strip development and renovations/additions, according to Las Vegas Review-Journal. Wynn reported that his latest Strip project Le Reve is on pace for a spring 2005 opening. Prior, when he opened The Mirage, Treasure Island and Bellagio, his successes prompted other Strip developers to build their own hotels and resorts, the report indicated. However, as Le Reve comes closer to opening, none of the other major operators on the Strip have yet committed to opening their own new projects. Instead, they have focused on adding hotel towers and other amenities to flagship Las Vegas properties, the article said. Wynn Resorts contractors are now working on the sixth floor of the main hotel, which is the second floor of guestrooms. Plans call for a 50-story tower with 45 floors of rooms. The bottom levels will be below-ground valet parking areas, with the casino floor, a mezzanine floor and the spa floor above them. Workers are now finishing the third floor of the five-deck parking garage. Construction of Wynn Resorts other significant project, a Macau casino resort, is waiting for the semiautonomous Chinese islands expected approval of rules allowing casinos to offer and collect credit. SOURCE: Las Vegas Review-Journal