Cost To Build Le Reve: $2 Billion

Bellagio Estimates Top Out At $1.8 Billion

LAS VEGAS -- A few precious details were released last week on Steve Wynn's upcoming hotel-casino masterpiece, Le Reve, including the eye-popping price tag of almost $2.5 billion, making it the most expensive casino project ever.

By way of comparison Bellagio, Wynn's former masterpiece, cost between $1.3 billion and $1.8 billion, depending on who you ask.

To finance the project, Wynn is going to be taking out some monstrous loans, getting investors to pony up some cash, and taking his company, Wynn Resorts Ltd., public. The final tally will include about $1.4 billion for the actual construction and furnishing of the hotel and casino, more than $300 million for the land it sits on, more than $20 million for a new championship golf course, and about $24 million for a new Cirque du Soliel-type show plus a couple hundred million extra thrown at various "miscellaneous" pursuits such as insurance, interest payments, and airplanes.

Groundbreaking is expected to happen by September, with completion now backed up to March of 2005 instead of the fall 2004 date that had originally been announced.

When complete, the hotel will aim to out-luxury the luxurious competitors like Bellagio and Venetian and will include:

  • An eight-story, tree-lined "mountain" along the Strip that will shield a three-acre lake.
  • A 48-story hotel tower featuring 2,701 rooms, ranging in size from approximately 620 square-feet to more than 7,000 square feet. Most Vegas rooms average around 400 to 500 square feet.
  • Approximately 100,000 square feet of casino space with more than 2,000 slot machines and 120 table games.
  • 18 restaurants, many of which will come from celebrity type chefs.
  • A 2,080-seat showroom featuring a water-themed show by Franco Dragone, the former Cirque du Soleil guy who did Mystere and O and is also designing the new Celine Dion show at Caesars Palace.
  • An 18-hole championship golf course to replace the Desert Inn championship golf course that was already there.
  • A high-end boutique shopping gallery.
  • An art gallery to house some of Wynn's fabled collection, including masterworks from Picasso, Van Gogh, Cezanne, and others.
  • A small convention center.
  • Jobs for more than 7,000 people.
  • A full-service Ferrari and Maserati car dealership.

Yes, you read that last one right -- you'll be able to get an oil change for your Ferrari while you play a little baccarat or get a massage.

And if you're looking to be in on the party (and help Mr. Wynn out in the process), you'll be able to buy stock in the new company when they have that IPO, although no date or initial stock price has been announced yet.

This Week's Trivia

Q. July 2nd will mark the 44th anniversary of what hotel? ANSWER

The Weekly Trivia Question is sponsored by the Online Memorabilia Museum at Vegas4Visitors.com

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