Steve Wynn finds buyer for Las Vegas mansion, flips Florida house

Billionaire Steve Wynn landed a buyer for his lavish Las Vegas mansion and, records indicate, flipped a luxury waterfront home in Florida for millions above his purchase price.

The 80-year-old former casino developer is under contract to sell his 15,000-square-foot house in Las Vegas’ Summerlin community, listing broker Kristen Routh-Silberman confirmed Thursday.

The home, which has been on and off the market over the past few years, was priced at $24.5 million last fall. A sale has been pending since March 18, its listing history on Zillow shows.

Routh-Silberman, of Corcoran Global Living, declined to identify the buyer, citing a nondisclosure agreement, nor would she confirm the sales price until the deal closes.

But she said that the purchase is expected to close by the end of May and that the home is not selling above the asking price.

She also said the house received three offers, all of which were all-cash.

Wynn’s mansion, 1717 Enclave Court, off Town Center Drive at Summerlin Parkway, has six bedrooms and 11 bathrooms. Built in 2001, it sits along the TPC Summerlin golf course and features a private movie room, a climate-controlled wine cellar, a crystal staircase, silk drapery and carpets, and marble pillars, according to listing materials.

Wynn bought the place in 2018 for $13 million, property records show. It went up for sale in June 2020 at $25 million, with the listing brokers saying it had recently undergone a $16 million renovation.

The asking price dropped to $19.5 million in December 2020, and the listing was removed altogether in March 2021. It went back on the market in October.

In Florida, meanwhile, Wynn sold a nearly 6,700-square-foot house in Palm Beach for $32 million this month after buying it for $24 million in April 2021, according to Palm Beach County property records and Florida and Nevada business-entity filings.

Built in 1954, the five-bedroom home at 1040 N. Lake Way features a private boat dock, a movie room and a new kitchen, listing materials show.

The seller’s representative, Lawrence Moens of Lawrence A. Moens Associates, did not respond to requests for comment Friday.

Wynn developed several massive hotel-casinos on Las Vegas Boulevard. Starting in the 1980s, he built The Mirage, Treasure Island, Bellagio, Wynn Las Vegas and Encore.

He laid the groundwork for another big development on the Strip when his company, Wynn Resorts, announced a deal in December 2017 to acquire 38 acres of land next to Fashion Show mall for $336 million.

The next month, The Wall Street Journal reported allegations that Wynn had a decadeslong pattern of sexual misconduct. Wynn, who called the claims “preposterous,” soon resigned as chairman and CEO of his company, citing “an avalanche of negative publicity.”

According to Forbes magazine, Wynn’s net worth exceeds $3 billion.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.