MIAMI, April 25, 2016 /PRNewswire/ -- Crystal
Lagoons announced its partnership with Wynn Resorts (NASDAQ: WYNN)
to transform the Las Vegas Strip into a beautiful beach-front
paradise.
Miami-based Crystal Lagoons has
teamed up with Steve Wynn,
the legendary luxury resort developer responsible for the
resurgence and expansion of the Las Vegas Strip, to reinvent the
iconic destination once more, setting a new record for the largest
Crystal Lagoon in the U.S.
"We have a chance to reinvent Las
Vegas and make the whole venue an entertainment
attraction…an idyllic beach paradise surrounded by white sand
beaches," said Steve Wynn chairman
and CEO of Wynn Resorts. "People come to Las Vegas from all over the world to live
large and have a good time and we can dish up an irresistible
entertainment attraction."
A 38-acre Crystal Lagoon will be the centerpiece of the
development that will feature 260,000 square feet of premium
meetings and convention space, a 1,000-room hotel tower, a small
casino and extensive dining and nightlife. The elaborate water
attraction will include both daytime and nighttime entertainment
elements. At night, the space will transform with an
elaborate fireworks display that is launched from the 120 ft.
center island and surrounding areas. The expansion will be
constructed on approximately 130 acres of real estate that
currently houses the Wynn Golf Club. The project remains subject to
the approval of Wynn's board.
The man-made lagoon with crystal-clear waters and white-sand
beaches will be the size of more than 30 football fields and close
to the size of almost 100 Olympic-size swimming pools. The
new Crystal Lagoon will change the Las
Vegas lifestyle with by making water sports readily
available, such as stand-up paddle-boarding, wind-surfing, sailing,
swimming and more. With this new beachfront destination,
guests will enjoy beach life and the outdoor activities that
Las Vegas was missing before.
"To collaborate with the legendary Steve
Wynn as he reinvents the Las Vegas Strip once again is very
significant for Crystal Lagoons," said Crystal Lagoons U.S. CEO
Uri Man. "As one of our most
important and signature projects, we are looking forward to seeing
how the lagoon will transform the Las
Vegas landscape, and further elevate the Wynn Las Vegas to a
new level above the rest. Now, Las
Vegas will have it all because it will have the beach-life
that Crystal Lagoons brings to any destination in the world."
U.S. Expansion
Leading U.S. real estate, hotel and
residential developers, such as Steve
Wynn, Richard LeFrak and
Jeffrey Soffer, see tremendous value
in adding a Crystal Lagoon to their projects (both for new
developments and to reinvigorate existing developments) as the
beachfront properties have been proven to double residential sales
prices and increase sales-speed by two to three times.
In the U.S. alone, there are more than 15,000 golf courses and
this project exemplifies how this amenity is used as a successful
alternative for golf courses, master planned communities, hotels,
resorts and more.
Since opening its U.S. Headquarters in Miami, Crystal Lagoons U.S. Corp. has
announced 13 projects with high-profile development companies such
as Turnberry Associates, Tavistock Development Group and Metro
Development Group, representing 12 billion
dollars in development and a total of 55 projects in
different stages of negotiations in the U.S. with a value of almost
54 billion dollars.
The Las Vegas Crystal Lagoon marks the growing success the
company has seen in the U.S., and realizes the company's Founder,
Fernando Fischmann, and his dream of
bringing a the beachfront experience to the luxury and
entertainment capitals of world, such as Las Vegas and Dubai.
This signature Las Vegas lagoon
joins the company's portfolio of 300 projects worldwide in more
than 60 countries. This year, the company opened a Los Angeles office to serve the growing demand
on the West Coast and a new office is also planned for Texas.
Environmentally Sustainable Technology
Globally
patented in 160 countries, Crystal Lagoons was honored with a
patent protection by the highly selective Fast-Track Program for
Green Technologies from the U.S. Patent and Trademark
Office. This coveted honor only considered technologies
representing an advance in environmental sustainability (out of
more than 1,500 applicants at the time, only Crystal Lagoons was
approved).
A Crystal Lagoon uses 30 times less water than a typical 18-hole
golf course and 50 percent less water than a park of the same
size. Crystal Lagoons technology uses disinfection pulses
that use up to 100 times less chemicals than swimming pools and an
ultrasonic filtration system that uses up to 50 times less energy
than conventional filtration systems. Plus, Crystal Lagoons
can use almost any type of water including, fresh, salt, brackish,
well water and more.
In addition to recreational uses, Crystal Lagoons technology
also has industrial applications including the sustainable cooling
of thermal power and industrial plants and water desalination and
purification. The company is working to solve the world
shortage of potable fresh water through its experimental
desalination technology project already underway in
Chile.
About Crystal Lagoons
Crystal Lagoons is a
multi-national company with US headquarters in Miami, Florida that has developed an
innovative concept and technology, patented in 160 countries,
allowing for the construction and maintenance of unlimited size
bodies of water in crystal clear conditions at low cost. Crystal
Lagoons' impressive turquoise waters are revolutionizing not only
the real estate world but also water and energy production.
Applications range from bringing idyllic beach life to locations
otherwise thought unimaginable, to providing industrial solutions
for closed-circuit cooling systems for thermal power plants and
data-centers, among others. For more information, please visit
www.crystal-lagoons.com and follow us on LinkedIn.
About Wynn Resorts:
Wynn Resorts, Limited (Nasdaq:
WYNN) is traded on the Nasdaq Global Select Market under the ticker
symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes.
Wynn Resorts owns and operates Wynn and Encore Las Vegas
(www.wynnlasvegas.com) and Wynn and Encore Macau
(www.wynnmacau.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a
total of 4,748 spacious hotel rooms, suites and villas,
approximately 186,000 square feet of casino space, 34 food and
beverage outlets featuring signature chefs, two award-winning spas,
an on-site 18-hole golf course, meeting space, approximately 99,000
square feet of retail space as well as two showrooms; three
nightclubs and a beach club.
Wynn Macau is a luxury hotel and casino resort located in the
Macau Special Administrative Region of the People's Republic of China with two luxury
hotel towers with a total of 1,008 spacious rooms and suites,
approximately 284,000 square feet of casino space, casual and fine
dining in eight restaurants as well as two bars, approximately
57,000 square feet of retail space, two opulent spas, a salon and a
pool.
Wynn Resorts is currently constructing Wynn Palace, an
integrated resort in the Cotai area of Macau and has begun preparation for the
development and construction of Wynn Boston
Harbor located in Everett,
Massachusetts.
Forward-looking Statements
This release contains forward-looking statements regarding
operating trends and future results of operations. Such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those we express in these forward-looking statements,
including, but not limited to, our dependence on existing
management, results of regulatory or enforcement actions and
probity investigations, pending or future legal proceedings,
uncertainties over the development and success of new gaming and
resort properties, adverse tourism trends, general global
macroeconomic conditions, changes in gaming laws or regulations,
volatility and weakness in world-wide credit and financial markets,
and our substantial indebtedness and leverage. Additional
information concerning potential factors that could affect the
Company's financial results is included in the Company's Annual
Report on Form 10-K for the year ended December 31, 2015 and the Company's other
periodic reports filed with the Securities and Exchange Commission.
The Company is under no obligation to (and expressly disclaims any
such obligation to) update or revise its forward-looking statements
as a result of new information, future events or otherwise.
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