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The American casino operator Wynn Resorts has bought the vacant 34.6 acre site for $300 million from the Australian casino operator Crown Resorts in Las Vegas.
Crown planned to build a massive resort called Alon in the territory of Las Vegas, but these plans changed when the number of VIP customers from China did not meet expectations. Due to this reason Crown was unable to collect in the amount of $2 billion for the launch of the project.
The sale of its Las Vegas land was one of a number of major transactions announced by Crown Resorts, including the acquisition by way of distribution to a subsidiary of $4,2 million Caesars Entertainment Corporation shares previously held by a co-investment vehicle.
