Wynn Resorts plans to add more than 75,000 square feet of luxury retail space called Wynn Plaza, which could generate up to million in annual revenues.
“We had 300 or more feet on the Strip right on the sidewalk in unused real estate that was very, very valuable,” said Steve Wynn, chairman and CEO of Wynn Resorts. “This represents an opportunity for future development that is quite unique.”
The two-story, 75,518-square-foot luxury retail Wynn Plaza shopping center will extend to Las Vegas Boulevard and include space that formerly housed a popular Ferrari dealership. Wynn Resorts plans a fall 2017 opening.
The new retail center will be modeled after the Avenue Matgnon in Paris with a “sense of elegance and sophistication,” while featuring many luxury retailers and brands. A centerpiece will be an atrium-like structure with a glass roof.
Wynn said he expects the retail center to generate up to $25 million in annual income for the resort.
Once completed, Wynn Plaza will bring the resort’s total retail space to 173,500 square feet, when combined with retail space at the sister Encore casino.
Wynn said an “assortment of prestigious retailers” will be selected to provide an exclusive shopping experience for visitors.
In addition, Wynn Las Vegas is considering expanding onto its Wynn Golf Club, while the nearby Fontainebleau might be close to being sold.
Wynn officials say they are looking at a possible expansion onto the golf course site, and have prepared plans, but nothing is official and would need approval from its board of directors before applying for local permits. Among possible expansion plans are a 40-acre lake, convention center, and a 1,000-room boutique hotel.
Wynn officials have not drafted business plans to expand onto the golf course, and that would be the first step, before the board would see any proposals, spokesman Michael Weaver said.
