Wynn Resorts Ltd. agreed to pay a total price of $336 million to acquire about 38 acres of land on the Las Vegas Strip across from Wynn Las Vegas for future development.
The company is buying 34 acres of the former New Frontier, also formerly the Alon Resort site, and additional four acres connected to the site.
The deal will complete a total real estate space of roughly 280 acres spread from the Las Vegas Convention Center on Paradise Road from the east to Industrial Road on the west. The site will include the current Wynn Las Vegas and the Paradise Park development, with construction to commence in January 2018 on the former Wynn Golf Course site.
