The Wynn Resorts Paradise Park lagoon project has been shelved and will be replaced by a revamped 18-hole golf course, the company announced today during its third-quarter earnings call.
Wynn contracted Tom Fazio, the original designer of the golf course, to assess a couple of holes affected by construction of a new convention center and to revamp the golf course, said Matt Maddox, chief executive officer of Wynn Resorts. The convention center is scheduled to open in January 2020.
Wynn wants to have the golf course up and running by this time next year, he said.
The closing of the course in December resulted in Wynn missing out on some 16,000 rounds of golf and $10 million to $15 million of business from visitors who would have stayed at Wynn or Encore for golf trips, Maddox said.
The Paradise Park plan originally called for a large man-made lagoon, with a carousel, bumper cars and water recreation activities.
“That project was over $3 billion today, looking at construction costs, including the convention center,” Maddox said.
Wynn Plaza, the property’s new $54 million, 75,000-square-foot shopping center that includes outlets like Cipriani, Urth Caffe and Soul Cycle, is set to open this week.
The company also plans to open five new restaurants and 50,000 square feet of additional retail space by the end of 2019.