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Crown Acquisitions to Pay Wynn Resorts $472M for Retail
Wynn Resorts and Crown Acquisitions have agreed to form a joint venture that will own and operate luxury retail space at Wynn and Encore Las Vegas at 3131 S. Las Vegas Blvd. Under the agreement, Crown will pay $472 million in two installments.
The first installment of $292 million will be for a 49.9% interest in a portion of Wynn Las Vegas’ owned and leased retail. Wynn will receive the second payment of $180 million when Wynn Plaza is completed next year. The partners will own 88,233 square feet of existing retail space at the Wynn and Encore Las Vegas, and the 72,851-square-foot Wynn Plaza.
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