Las-Vegas, Luxury Hotels

Billionaire Steve Wynn is renewing the lease on his personal villa at the Wynn Las Vegas casino resort for two more years at an annual rent of $520,000.

Wynn Resorts Ltd. says in a Thursday filing with the Securities and Exchange Commission that Wynn agreed to pay the company just over $1 million over two years for the villa at the Las Vegas Strip resort.

That comes to more than $43,000 per month.

The company says in the filing that the rental price was determined based on a third-party appraisal and a reduction in the cost of maid services.

The company will pay for cleaning services on weekends, but Wynn and his wife Elaine would have to pay for maid service during the week.

The filing says that Wynn is responsible for long-distance phone calls, but utilities are included. The lease ends in June 2010.

source

This entry was posted on Tuesday, June 17th, 2008 at 11:19 pm and is filed under Wynn Hotel Las Vegas.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.