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Wynn Resorts plans massive water-themed Las Vegas entertainment complex

Wynn Resorts Ltd.is planning to build a water-themed entertainment complex in Las Vegas on the 130-acresite that currently houses its golf club.

The complex, tentatively dubbed Wynn Paradise Park, will comprise260,000 square feet of meeting space and convention space, a 1,000-room hotel, asmall casino and restaurants, all of which will surround a 38-acre lagoon, accordingto an April 6 news release.

The price was not disclosed in the release, though Vegas Inc.reported that it could cost as much as $1.6 billion, citing an investor presentationChairman and CEO Steve Wynn gave April 6.

"We have a chance to reinvent Las Vegas and make the wholevenue an entertainment attraction … an idyllic beach paradise surrounded by whitesand beaches," Steve Wynn said in the news release.

The lagoon will feature a boardwalk and an island in the middle.Guests will be able to water ski and parasail during the day and watch fireworksdisplays at night, according to Vegas Inc.

The paper quoted Steve Wynn as saying customers would pay anadmission fee to enter the attraction.

The development will require approval from the company's board.