Resorts intends to begin construction on the first phase of its $1.5bn Paradise Park as early as December, creating a white sand lagoon waterfront featuring attractions in Las Vegas.

The new park was first disclosed last year at an analyst day event. However, the company’s board of directors have now approved the project and indicated construction will begin in six or seven months.

Wynn has revealed his plans for the park, which will include a lagoon, boardwalk, convention centre and food services. The company is yet to confirm how many phases of development the park will undergo.

“We’ve got all these great ideas that are going into this lagoon and this beach front property,” said chairman and CEO Steve Wynn during the resort giant’s first-quarter earnings call.

Paradise Park is set to be located on a nearly 130-acre golf course property owned by the company, which is adjacent to Wynn’s existing casino resort in the city.

Wynn stated that the park will feature a “20-odd acre lagoon in the middle of it and then we would build our meeting space, leave room for our new tower that could be a couple of thousand rooms.”