Las Vegas Real Estate News

April 26, 2017

Wynn Resorts board gives nod for $1.5 billion lagoon-theme park in Las Vegas

 

  • Wynn Resorts board has given a new $1.5 billion resort the green-light
    Wynn Resorts board has given a new $1.5 billion resort the green-light  

    Wynn Resorts plans to start construction as early as December on the first phase of its $1.5 billion Paradise Park, creating a white sand lagoon waterfront featuring attractions in Las Vegas, the company said Tuesday.

    "We've got all these great ideas that are going into this lagoon and this beach front property," said Chairman and CEO Steve Wynn during the resort giant's first-quarter earnings call.

    The new park was first disclosed last year at its analyst day event but Wynn said Tuesday on the call the company's board of directors had now approved the project and indicated construction will start in six or seven months.

    Wynn laid out the first phase of the plan, which includes building a lagoon, boardwalk, new convention space and food services. That said, the company hasn't indicated just how many phases of the park development there will ultimately be.

    Paradise Park would be located on a nearly 130-acre golf course property owned by the company and adjacent to Wynn's existing casino resort in the famed gambling city.

    The casino mogul said Tuesday the park will feature a "20-odd acre lagoon in the middle of it and then we would build our meeting space, leave room for our new tower that could be a couple of thousand rooms."

    The aim is to appeal not just to the lucrative convention market but to families by offering a Disney-like park attraction off the Las Vegas Strip. Last year, the CEO indicated the waterfront would feature cabanas, new restaurants and the lagoon would have "a great show like they have at Disneyland only bigger."

    Wynn said another reason to build the park is to deploy capital.

    "We have no better use for our money," he said. "We keep $1.5 billion or $2 billion in the parent company and this would allow us to take the most conservative, but the most dynamic approach to creating this."

    Moreover, Wynn said the park and waterfront would provide a "tremendous uptick in the value of our surrounding real estate."

    The company is expected to have a media event in the next few months to provide more details about the project.

    Meanwhile, the company beat Street estimates for the first quarter. Here are quarter highlights:

    • Adjusted EPS $1.24 per share versus EPS of 93 cents expected by Thomson Reuters estimates.
    • Revenue: $1.48 billion, versus $1.38 billion expected by analysts.

    Wynn said its adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA) was up 42 percent in the quarter, reflecting contributions from its new Wynn Palace in Macau and a stronger performance from its Las Vegas operations. However, its older Wynn Macau property showed a decline during the same period.

    In addition to the company's Paradise Park in Las Vegas, Wynn also is building the Wynn Boston Harbor resort outside in Massachusetts and expects to open the complex in mid-2019.

    The Boston-area property will feature a hotel, waterfront boardwalk, meeting and convention space, casino space as well as other attractions. It estimates the total budget on the Massachusetts project to be approximately $2.4 billion, and through March 31 it said nearly $607 million in total project costs were incurred.

Posted in News
July 27, 2016

Most Las Vegas luxury home sales are to out-of-state buyers

There is a 35% chance that this new Las Vegas listing on 7421 Silver Palm will be sold to someone in California. With the ever increasing taxes of California more and more people are buying luxury homes in Nevada. This is particularly true when you are talking about homes that start at one million dollars or more. 

It is very important that your realtor understand this and knows how to effectively market to get your listing sold. Just putting it on the MLS in Las Vegas is simply not enough. At Vegashomes.io we specialize in creating a marketing plan that will attract the most potential buyers to get your home sold and get multiple offers.

The luxury market is going to draw residents from many states and around the globe. It is very important to have a strategy in place to capitalize on this fact.

Give us a call/text/email to set up a time to meet with you so we can come up with a custom plan that will get your home sold for the most amount of money and market it effectively. We will provide an accurate home value range based on our extensive knowledge of the industry.

 

 

Posted in News
July 25, 2016

Raiders to Las Vegas good for Real Estate?

 

Las Vegas wants the Raiders and as many as 9 sites have been discussed as possible options. With the recent sale of the UFC the Fertitta brothers are flush with cash and would be interested in ownership of the team. The NFL has never really considered Las Vegas because of the gambling and betting tie in potential but the past concerns seem to be fading. It would certainly require a vote by the other owners but so far there has not been a lot of objections.

With a 65,000 seat stadium and 8 home games it would bring in an additional 520,000 people to Las Vegas which would have a positive financial impact on revenue and jobs for the city as well as construction for the development of the property and stadium. It would also signal that Las Vegas is taking the next step as a city and ready to bring a NBA team as well. The stadium could also be used for other events and give great options for event promoters and have a bigger draw for the city.

Much like other cities around the country when a new football stadium is built, real estate prices go up in value around the area. To see what current prices are for the las vegas market go to www.vegashomes.io Expect to see a lot of continued news coverage on the Raiders to Las Vegas over the next year.

 

Posted in News
June 10, 2016

Henderson Living Is Sweet As Can Be


Relax in Henderson HomesHenderson living is sweet when you stop into Gimme Some Sugar Bake Shoppe. This quaint little bakery is big on taste and sophistication. Classic cupcakes and cookies such as red velvet and chocolate chip mix with signature selections including banana-nutella and snickerdoodle. Fancier desserts are created here as well. Gourmet favorites include opera cakes, oversized macaroons, chambord mousse domes and fresh fruit pavlova. Slender slices of traditional petite cheesecakes are offered smothered in a variety of sauces including balsamic strawberry and pecan turtle.

Anytime is a good time for a treat, but this piece of Henderson real estate adds some flair during the evening hours when their wine bar opens. A variety of small plate options are available to pair with top quality wines. Choices include rich desserts and selections of fruit and cheese. A visit to Gimme Some Sugar Bake Shoppe makes a great way to end a first date or movie night. Get a group together and plan a girls night out. Private events for up to 50 people can be accommodated with advanced reservations.

Henderson real estate residents can celebrate in style with a custom cake from Gimme Some Sugar. Guests of any event will be amazed at creative and intricately detailed decorations adorning desserts. Sample designs are available on the Gimme Some Sugar Bake Shoppe website. Open seven days a week, this bakery shop welcomes all with a sweet tooth.

 

Posted in News
June 10, 2016

Farmer’s Market Brings Fresh Produce To Summerlin Homes

Enjoy Fresh Goods in Summerlin HomesThe Summerlin Farmer’s Market makes shopping fresh easy for residents living in Summerlin homes. Each Saturday from 9 a.m. to 2 p.m. underneath the pavilion in downtown Summerlin, stalls of organic produce and gourmet food are set to impress. Shoppers coming from Summerlin properties love to find juicy fruits such as strawberries, peaches, apples and others. There will surely be a large selection of fresh vegetables to select from as well. Individual booths may include various herbs and spices, gourmet olive oils, nuts and more. Hand made crafts and trinkets are sure to be displayed for purchase in a corner or two. Take the opportunity to plan for the upcoming week, make a grocery list, grab some re-usable shopping bags and head downtown. Coming straight from local sources, purchasing from the Summerlin Farmer’s Market is a wonderful way to support both the local economy and community.

There’s more than produce at the market. A variety of special events are planned and include live music venues and food tastings. Cooking demonstrations and classes will also be on the calendar, showing how to bring food from the farm right to the table of Summerlin homes. Join in the neighborhood camaraderie and make the Summerlin Farmer’s Market a weekly trip. Better yet, bring the kids and make it a family event.

 

Posted in News
June 9, 2016

Inquiring Minds Who Live In Las Vegas Step Into A World Of Wonder

Explore in Las Vegas HomesKids of all ages who live in Las Vegas will find plenty to explore at the Discovery Children’s Museum. Since the doors opened in 1984 inquiring minds have been walking the halls of this eye opening Las Vegas property. With a focus on science, there are both ongoing and rotating exhibits as well as special events designed to heighten the senses and increase awareness of what’s around us. Step into a world of wonder and travel back into time when entering the Fantasy Festival exhibit. Guests stroll into medieval times and take on the roll of royalty living in a castle or become a marauding buccaneer on a pirate ship. Water World embraces the impact water plays in all environments. Hands on activities here include maneuvering balls and boats through structured water ways to more intricate interaction with models of the Hoover Dam, Bypass Bridge and Lake Mead. Toddler town is a place of play put together for the littlest guests. There is a reading room, art spot and area to learn about the animals that live in Las Vegas or near by. Other sections include Eco City, The Summit and Patents Pending. Many traveling displays rotate through so return trips are a must.

As the museum is open seven days a week it’s easy to plan a visit. Operating hours are Monday through Saturday from 10 a.m. to 5 p.m., and Sundays from 12 to 5 p.m. Locals love to bring a picnic lunch and enjoy it later in the day in the designated eating areas or outdoors at Symphony Park. There are also snacks available for purchase inside the museum. Residents may be interested in becoming a Discover Children's Museum member. Perks include unlimited admission and discounts. Check it out today.

 

Posted in News