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Steve Wynn to open a $1.6 billion Las Vegas lake resort

'Paradise Park' will be complete with white sand beaches and a mile-long boardwalk

Las Vegas business mogul Steve Wynn has just announced he will be putting down $1.6 billion to build a brand new resort for the City of Lights.

The new venture, which Wynn has bestowed the title of Paradise Park, is the investor's largest project in almost a decade and will house 1,000 rooms, a casino and nightclub. Fashioned with summertime in mind, Paradise Park will have flowing white sand beaches, a mile-long boardwalk and extravagant nightly entertainment.

The new luxurious hideaway will be located behind the current standing Wynn resort and Encore casino, and plans to rack in more than $300 million in revenue a year.

Sydney is Mixmag's US Digital Content Editor. Follow her on Twitter here