Wynn seeks IPO financing to construct Le Reve

LAS VEGAS -- Casino tycoon Steve Wynn officially unveiled plans in a Securities and Exchange Commission filing to construct the $1.83 billion Le Reve resort and casino, which will include an eight-story, manmade mountain.

Le Reve -- French for "the dream" -- will be built on the site where the Desert Inn Resort & Casino once stood. Wynn bought that property on the northern part of the Strip two years ago.

The resort will have 2,701 rooms and feature Wynn's private art collection. Plans also include the establishment of a Ferrari and Maserati dealership.

Construction is due to start this September; opening is scheduled for March 2005.

In order to help finance the project, Wynn's company, Wynn Resorts Ltd., intends to sell as much as $408 million worth of stock in an initial public offering.

JDS Travel News JDS Viewpoints JDS Africa/MI