Total Construction Cost for the Wynn Las Vegas and Encore
The combined cost to build Wynn Las Vegas and Encore was approximately $2.7 billion, with the resort opening in 2005 and the Encore tower debuting in 2008. The project was developed by Wynn Resorts, led by founder Steve Wynn, on a 21-acre site on the Las Vegas Strip. This figure includes land acquisition, construction, interior design, and initial branding, and it positioned the property as one of the most expensive casino resorts at the time of completion. For more details on the project scope, see the Forbes overview of Wynn Resorts history Wynn Resorts history and strategy.
Adjusted for inflation, the $2.7 billion in 2005 to 2008 spending equates to roughly $3.8 billion to $4.1 billion in today's dollars. The cost covered two hotel towers, a casino, multiple restaurants, a spa, and a theater, with the Encore building adding significant capacity and luxury amenities. The total project financing was arranged through a combination of equity from Wynn Resorts and construction loans, with the company using the property's revenue stream to secure favorable terms. The build was completed ahead of the initial schedule for the main resort, though the Encore tower opened a few years later as planned.
Breakdown of Wynn Las Vegas Construction Costs
Land Acquisition and Site Preparation
Land acquisition and site preparation for the Wynn Las Vegas property cost an estimated $400 million to $500 million, covering the purchase of the former Desert Inn and adjacent parcels. The site required extensive demolition, environmental remediation, and infrastructure upgrades before construction could begin. This phase also included the design and engineering work that defined the resort's layout, including the iconic lake and waterfall features. The total site cost was a major component of the overall budget and was finalized before the main construction phase started.
Building the Main Resort and Casino
The main Wynn Las Vegas resort and casino construction cost was approximately $1.2 billion, covering the 2,716-room hotel tower, the casino floor, and the retail and entertainment spaces. The building work involved thousands of contractors and suppliers, with materials ranging from high-end stone and glass to custom fixtures and advanced gaming technology. The project was managed by Wynn Resorts' internal team and external construction firms, with a focus on delivering a luxury experience that differentiated the property from competitors. The construction timeline for the main tower was roughly four years from groundbreaking to the grand opening in April 2005.
Encore Tower and Additional Development Costs
Building Encore and the Second Tower
The Encore tower, which opened in December 2008, added approximately $1.5 billion to the total project cost, bringing the combined Wynn Las Vegas and Encore investment to around $2.7 billion. Encore features 2,034 rooms and suites, a private pool, and additional dining and retail outlets, and it was built on the same 21-acre campus. The tower was designed to expand the resort's capacity and attract a high-end clientele, with construction overlapping the final years of the main resort's ramp-up. The Encore project was also financed through Wynn Resorts' capital structure, including equity and debt instruments.
Financing and Ownership Structure
The financing for the Wynn project involved a mix of equity from Wynn Resorts and institutional lenders, with the company using the property's projected cash flows to secure construction loans and bond issuances. The ownership structure has evolved over time, with Wynn